Fire-E AS
Score · fiscal year 2025
62of 100
How to read this: the company is ahead of 72 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 588 of 2,127 · What are Morning company classes?
Place in the whole sector: 1,086 of 4,183 · Teknisk tjenesteyting og forskning
Profile
Cheetah · Sprinter
High profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 81 and solidity 50 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
Fire-E AS is 12 points above the median for companies in the Morning class Micro in the same sector in 2025.
Median score 50 among 2,126 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin 16.2% (median 4.9%) and equity ratio 44.1% (median 40.9%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 6 MNOK | 3 MNOK |
| Operating margin | 16.2% | 4.9% |
| Profit margin | 16.1% | 4.8% |
| Return on assets | 45.1% | 10.2% |
| Equity ratio | 44.1% | 40.9% |
| Debt-to-equity | 1.27 | 1.12 |
| Current ratio | 1.70 | 1.66 |
| Revenue growth | 20.9% | 5.2% |
| Revenue per employee | 1.20 MNOK | 0.75 MNOK |
The median and “ahead of” refer to companies in the Morning class Micro in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 62, Fire-E AS does better than 72% of companies in the Morning class Micro in the same sector (2,127 companies) in 2025.
Score 2023–2025
- Fire-E AS
- Median: companies in the Morning class Micro in the same sector
Fire-E AS has a score of 62 for 2025, rank 1,086 of 4,183 in the sector.
Strongest: Profitability: percentile 81 against peers, operating margin 16.2% against a median of 4.9%. Growth: percentile 71 against peers, revenue growth 20.9% against a median of 5.2%.
No area is clearly below its peers.
Worth a closer look
- The change in operating margin in 2025 was 6.4 percentage points weaker than for comparable companies: the company −7.3, the industry −0.9 points. That is the company's own, not something that hit the whole industry.
Written by fixed rules from the figures. Describes the figures, does not explain causes. Not investment or financial advice. How the summary is made
The industry or the company: what drove the result?
In 2025 the operating margin of Fire-E AS fell by 7.3 percentage points. Comparable companies fell by a median 0.9 points. So the company did 6.4 points weaker than the industry, for reasons of its own.
Over 2 year-to-year changes Fire-E AS moved the same way as comparable companies 1 times. About 2% of the changes in operating margin were common to the industry; the rest was the company's own.
| Year | The company | Comparable (median) | Change, company | Change, industry | The company's own |
|---|---|---|---|---|---|
| 2024 | 23.5% | 5.8% | −35.4 percentage points | +0.1 percentage points | −35.5 percentage points |
| 2025 | 16.2% | 4.9% | −7.3 percentage points | −0.9 percentage points | −6.4 percentage points |
Comparable companies are those in the same industry and Morning company class. Their change shows what hit the whole industry, the sector drivers below included. The rest is the company's own: contracts, costs, one-off items or operations. The share is approximate, and we claim no cause.
The company and its sector's drivers
Prices, rate and currency that shape the sector's year, year by year beside the operating margin of Fire-E AS. The figures stand side by side; we claim no cause.
Turnover index: architectural and engineering activities (indeks (2021 = 100))
Turnover index: architectural and engineering activities rose 8.1% in 2025; the operating margin of Fire-E AS fell 7.3 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Turnover index: architectural and engineering activities, annual average | 99.0 | 108.8 | 127.9 | 146.4 | 158.3 | 155.2 (so far) |
| Change from the year before | +9.8% | +9.9% | +17.5% | +14.5% | +8.1% | −1.9% |
| The company's operating margin | – | – | 58.9% | 23.5% | 16.2% | – |
Source: SSB (13863, CC BY 4.0). Source
Turnover index: advertising and market research (indeks (2021 = 100))
Turnover index: advertising and market research rose 3.6% in 2025; the operating margin of Fire-E AS fell 7.3 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Turnover index: advertising and market research, annual average | 99.4 | 113.5 | 108.3 | 106.9 | 110.7 | 126.1 (so far) |
| Change from the year before | +35.1% | +14.2% | −4.6% | −1.3% | +3.6% | +13.9% |
| The company's operating margin | – | – | 58.9% | 23.5% | 16.2% | – |
Source: SSB (13863, CC BY 4.0). Source
Turnover index: other professional and technical activities (indeks (2021 = 100))
Turnover index: other professional and technical activities rose 6.2% in 2025; the operating margin of Fire-E AS fell 7.3 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Turnover index: other professional and technical activities, annual average | 98.3 | 121.6 | 139.4 | 131.0 | 139.1 | 158.0 (so far) |
| Change from the year before | +29.9% | +23.7% | +14.6% | −6.0% | +6.2% | +13.6% |
| The company's operating margin | – | – | 58.9% | 23.5% | 16.2% | – |
Source: SSB (13863, CC BY 4.0). Source
Service prices: architects and engineering (indeks (2021 = 100))
Service prices: architects and engineering rose 3.2% in 2025; the operating margin of Fire-E AS fell 7.3 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Service prices: architects and engineering, annual average | 100.0 | 103.6 | 107.5 | 111.2 | 114.7 | 119.4 (so far) |
| Change from the year before | +1.2% | +3.5% | +3.8% | +3.4% | +3.2% | +4.2% |
| The company's operating margin | – | – | 58.9% | 23.5% | 16.2% | – |
Source: SSB (14335, CC BY 4.0). Source
Oil price (export price of crude oil) (kr per fat)
Oil price (export price of crude oil) fell 17.6% in 2025; the operating margin of Fire-E AS fell 7.3 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Oil price (export price of crude oil), annual average | 609 | 979 | 877 | 859 | 708 | 881 (so far) |
| Change from the year before | +61.1% | +60.8% | −10.5% | −2.0% | −17.6% | +24.5% |
| The company's operating margin | – | – | 58.9% | 23.5% | 16.2% | – |
Source: SSB (08799, CC BY 4.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Fire-E AS fell 7.3 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Policy rate, annual average | 0.08 | 1.32 | 3.54 | 4.50 | 4.30 | 4.17 (so far) |
| Change from the year before | −0.28 percentage points | +1.24 percentage points | +2.22 percentage points | +0.96 percentage points | −0.20 percentage points | −0.12 percentage points |
| The company's operating margin | – | – | 58.9% | 23.5% | 16.2% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
EUR/NOK (kr)
EUR/NOK rose 0.8% in 2025; the operating margin of Fire-E AS fell 7.3 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| EUR/NOK, annual average | 10.16 | 10.10 | 11.42 | 11.62 | 11.72 | 11.04 (so far) |
| Change from the year before | −5.2% | −0.6% | +13.1% | +1.8% | +0.8% | −5.8% |
| The company's operating margin | – | – | 58.9% | 23.5% | 16.2% | – |
Source: Norges Bank (EXR, NLOD 2.0). Source
Wage index: architects and engineering (indeks)
Wage index: architects and engineering rose 4.7% in 2025; the operating margin of Fire-E AS fell 7.3 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: architects and engineering, annual average | 90.5 | 90.9 | 96.0 | 100.9 | 105.6 | 109.2 (so far) |
| Change from the year before | +7.4% | +0.5% | +5.6% | +5.2% | +4.7% | +3.4% |
| The company's operating margin | – | – | 58.9% | 23.5% | 16.2% | – |
Source: SSB (12314, CC BY 4.0). Source
We show the drivers and the margin side by side and claim no cause. Sensitivity per company is not computed until we have at least 10 years of accounts per company: with three years such figures are false precision.
What the numbers say
Fire-E AS had an operating margin of 16.2% and an equity ratio of 44.1% in 2025, and ranks 1,086 of 4,183 in Teknisk tjenesteyting og forskning.
From 2024 to 2025: the operating margin fell from 23.5% to 16.2% and revenue grew by 21%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 1 MNOK and 6 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 18.6 | 5 MNOK |
| EV/EBIT | 15.9 | 6 MNOK |
| P/B | 3.2 | 1 MNOK |
The listed basis is the value at listed multiples. The estimate is lowered by 51% for an unlisted company: 20% for lack of marketability and 38% for size (a small-company premium of 4% on the cost of equity).
A mechanical estimate from public accounts, not advice. A mechanical estimate from public accounts with listed multiples and fixed adjustments. Not a valuation and not advice to buy or sell. See the calculation
Worth a closer look
No rules were triggered for this year.
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 0.6% of the debt in 2025. The policy rate averaged 4.30 % the same year. This is a plain description of what the debt cost, not a model of interest sensitivity.
See interest rates, prices and exchange rates for the sector
Data quality
No anomalies found in the figures.
Scenario analysis: the sector's weakest year
We have no accounts for 2021, the sector's weakest year, for this company.
The sector's weakest year was 2021, with a median operating margin of −0.2%. Based on the 8 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 81 | weight 30% |
|---|---|---|
| Solidity | 50 | weight 25% |
| Liquidity | 51 | weight 15% |
| Growth | 71 | weight 15% |
| Consistency | 45 | weight 15% |
Durability: 66 (average over 2 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Fire-E AS?
The operating margin was 16.2% in 2025, against a median of 4.9% among companies in the Morning class Micro in the same sector. Return on assets was 45.1%.
How solid is Fire-E AS?
The equity ratio was 44.1% in 2025 (median 40.9%). Debt-to-equity was 1.27 (median 1.12).
What is the liquidity of Fire-E AS like?
The current ratio was 1.70 in 2025 (median 1.66).
How does Fire-E AS compare in Teknisk tjenesteyting og forskning?
Fire-E AS ranks 1,086 of 4,183 in Teknisk tjenesteyting og forskning for 2025. Among companies in the Morning class Micro it is number 588 of 2,127. Revenue changed by 20.9% from the year before.
From the Central Coordinating Register
- Org. no.
- 828747622
- Legal form
- AS
- Sector
- Teknisk tjenesteyting og forskning (71.129)
- Morning company class
- Micro
- Employees
- 5 registered 10 March 2026
- Founded
- 28 January 2022 4 years in operation
- Share capital
- 0.10 MNOK
- Business address
- Nymoens torg 6, 3611 KONGSBERG
- Municipality
- Kongsberg rank 4–13 of 27 in KOSTRA group 9
- Audit
- Audit opted out from 16 February 2022
- Latest accounts filed
- 2025
- LEI
- 89450014SSUO7BZ3W432 not renewed (lapsed)
Source: Central Coordinating Register, Brønnøysund Register Centre. The employee count is reported by the company and may be older than the accounts. See the company at the Brønnøysund Register Centre
Ownership and roles
Loading roles …
Source: Central Coordinating Register, fetched 1 November 2026. Only names are shown.
- Parent company
- Parent does not consolidate the company
Source: GLEIF (Global Legal Entity Identifier Foundation), fetched 31 October 2026. The parent is the one the company itself reported to GLEIF.
Shareholders (2025)
- Number of shareholders
- 4
- Largest owner
- 36.0% · top three 90.0%
- Split
- companies 100% · private persons 0% · foreign 0%
- Kim Andre Haugan AS · 36.0%
- Ene Holding AS · 36.0%
- Quarten AS · 18.0%
- G.K.H Holding AS · 10.0%
The company is new in the shareholder register in 2025.
Source: the Norwegian Tax Administration's shareholder register as of 2025. Figures may be older than today's ownership. Private persons are not shown by name.
Error in the data?
Do you see an error in the figures or in how the company is mapped (sector, holding, group)? Let us know. Corrections require documentation.
Figures last fetched 30 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | – | 69 | 62 | |
| Rank | – | 608 | 1,086 | |
| Operating margin | 58.9% | 23.5% | 16.2% | |
| Return on assets | 69.8% | 54.1% | 45.1% | |
| Equity ratio | 56.9% | 46.6% | 44.1% | |
| Current ratio | 2.32 | 1.76 | 1.70 | |
| Revenue growth | – | 3,411.7% | 20.9% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 0.1 MNOK | 5.0 MNOK | 6.0 MNOK |
| Operating profit | 0.1 MNOK | 1.2 MNOK | 1.0 MNOK |
| Profit before tax | 0.1 MNOK | 1.2 MNOK | 1.0 MNOK |
| Tax expense | 0.1 MNOK | 0.2 MNOK | 0.2 MNOK |
| Net profit | 0.0 MNOK | 0.9 MNOK | 0.7 MNOK |
| Financial expenses | 0.0 MNOK | 0.0 MNOK | 0.0 MNOK |
| Total assets | 0.1 MNOK | 2.2 MNOK | 2.2 MNOK |
| Current assets | 0.1 MNOK | 2.0 MNOK | 2.0 MNOK |
| Equity | 0.1 MNOK | 1.0 MNOK | 1.0 MNOK |
| Retained earnings | 0.0 MNOK | 0.9 MNOK | 0.9 MNOK |
| Total liabilities | 0.1 MNOK | 1.2 MNOK | 1.2 MNOK |
| Current liabilities | 0.1 MNOK | 1.2 MNOK | 1.2 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 30 October 2026, accounts id 6589283.
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