Vicama AS
Score · fiscal year 2025
57of 100
How to read this: the company is ahead of 63 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 488 of 1,318 · What are Morning company classes?
Place in the whole sector: 1,035 of 2,791 · Forretningsmessig tjenesteyting
Profile
Elephant · Steward
Lower profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 19 and solidity 60 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
Vicama AS is 8 points above the median for companies in the Morning class Micro in the same sector in 2025.
Median score 49 among 1,315 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin −514.5% (median 3.4%) and equity ratio 42.5% (median 27.7%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 2 MNOK | 4 MNOK |
| Operating margin | −514.5% | 3.4% |
| Profit margin | −2,604.1% | 2.9% |
| Return on assets | 3.2% | 8.1% |
| Equity ratio | 42.5% | 27.7% |
| Debt-to-equity | 1.35 | 1.64 |
| Current ratio | 2.38 | 1.27 |
| Revenue growth | 3,697.8% | 7.4% |
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 57, Vicama AS does better than 63% of companies in the Morning class Micro in the same sector (1,318 companies) in 2025.
Score over time
Score over time needs at least two fiscal years with a score. It will appear when next year's figures are fetched or history is imported.
Vicama AS has a score of 57 for 2025, rank 1,035 of 2,791 in the sector.
Strongest: Growth: percentile 99 against peers, revenue growth 3,697.8% against a median of 7.4%. Liquidity: percentile 78 against peers, current ratio 2.38 against a median of 1.27.
Weakest: Profitability: percentile 19 against peers, operating margin −514.5% against a median of 3.4%.
Worth a closer look
- The company made a loss before tax. Are these one-off items or a pattern? Based on: profit margin −2,604.1% (median 2.9%).
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin −514.5% (median 3.4%).
- What lies behind weak profitability, and will it last?
Written by fixed rules from the figures. Describes the figures, does not explain causes. Not investment or financial advice. How the summary is made
What the numbers say
Vicama AS had an operating margin of −514.5% and an equity ratio of 42.5% in 2025, and ranks 1,035 of 2,791 in Forretningsmessig tjenesteyting.
From 2024 to 2025: the operating margin rose from −71,073.3% to −514.5% and revenue grew by 3,698%.
This text is generated automatically from the 2025 accounts.
Three simple methods
One method gives a figure: 670 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | not meaningful |
| EV/EBIT | 8.0 | not meaningful |
| P/B | 1.0 | 670 MNOK |
A mechanical estimate from public accounts, not advice. Mechanical estimate from public accounts with fixed multiples. Not a valuation and not advice to buy or sell. The multiples are provisional default values and must be adjusted per sector before the figures are used for anything. See the calculation
Worth a closer look
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −2,604.1% (median 2.9%).
- watch
The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors?
Based on: Operating margin −514.5% (median 3.4%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 10.4% 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
- watch Extreme margin: check the figures
Scenario analysis: the sector's weakest year
We have no accounts for 2026, the sector's weakest year, for this company.
The sector's weakest year was 2026, with a median operating margin of −1.2%. Based on the 9 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 19 | weight 30% |
|---|---|---|
| Solidity | 60 | weight 25% |
| Liquidity | 78 | weight 15% |
| Growth | 99 | weight 15% |
| Consistency | 65 | weight 15% |
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Vicama AS?
The operating margin was −514.5% in 2025, against a median of 3.4% among companies in the Morning class Micro in the same sector. Return on assets was 3.2%. The company made a loss before tax.
How solid is Vicama AS?
The equity ratio was 42.5% in 2025 (median 27.7%). Debt-to-equity was 1.35 (median 1.64).
What is the liquidity of Vicama AS like?
The current ratio was 2.38 in 2025 (median 1.27).
How does Vicama AS compare in Forretningsmessig tjenesteyting?
Vicama AS ranks 1,035 of 2,791 in Forretningsmessig tjenesteyting for 2025. Among companies in the Morning class Micro it is number 488 of 1,318. Revenue changed by 3,697.8% from the year before.
Group accounts · 2025
70 of 100
Rank 5 of 17 groups in the Morning class Medium in Forretningsmessig tjenesteyting. Groups are ranked only against other groups in the same sector and class, never against single companies.
- Operating revenue, group
- 77 MNOK
- Operating profit, group
- −7 MNOK
- Profit before tax, group
- 152 MNOK
- Total assets, group
- 2,547 MNOK
- Equity, group
- 1,677 MNOK
| Key figure | The group | The company alone (2025) |
|---|---|---|
| Operating margin | −9.5% | −514.5% |
| Return on assets | 13.1% | 3.2% |
| Equity ratio | 65.8% | 42.5% |
| Current ratio | 2.08 | 2.38 |
| Revenue growth | 33.8% | 3,697.8% |
Group index in earlier years: 2024: 75 (3 of 28).
Same formulas and weights as the company index. Group and company are never added together, and the group accounts are not part of sector averages or company rankings.
Source: Brønnøysund Register Centre, group accounts 2025 (open data, NLOD 2.0).
We do not show the group structure, because open data does not say who owns whom.
From the Central Coordinating Register
- Org. no.
- 831982942
- Legal form
- AS
- Sector
- Forretningsmessig tjenesteyting (80.010)
- Morning company class
- Micro
- Employees
- 0–4 (not registered)
- Founded
- 17 August 2023 3 years in operation
- Share capital
- 0.30 MNOK
- Business address
- Tjuvholmen allé 1, 0252 OSLO
- Municipality
- Oslo rank 63–220 of 357 in Norway
- Latest accounts filed
- 2025
- LEI
- 254900IAGVVIH1K6FS94 renews 9 January 2027
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
- No parent company: owned by persons
Source: GLEIF (Global Legal Entity Identifier Foundation), fetched 30 October 2026. The parent is the one the company itself reported to GLEIF.
Shareholders (2025)
- Number of shareholders
- 4
- Largest owner
- 16.3% · top three 49.0%
- Split
- companies 50% · private persons 0% · foreign 0%
- M&V Holding AS · 32.7%
- Viheca Capital AS · 32.7%
- Champ Capital AS · 32.7%
- Kamul AS · 2.0%
The company is new in the shareholder register in 2025.
Majority owner of: Skogan Gård AS (100%), Zone Security AS (95%), Ulfoss Invest AS (73%)
The portfolio: 11 of the companies it owns shares in have accounts with us, 0 of them as majority owner. The average index is 39. 0 have negative equity and 8 made a loss in the latest year.
Holds shares in: Proximar Seafood AS (6%), Vow ASA (2%), Norse Atlantic ASA (2%), Ensurge Micropower ASA (0%), Andfjord Salmon Group AS (2%), Oncoinvent ASA (0%), Salmon Evolution ASA (0%), Måsøval AS (1%)
The owners' shares do not add up to the company's total number of shares in the source.
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 | – | – | 57 | |
| Rank | – | – | 1,035 | |
| Operating margin | – | −71,073.3% | −514.5% | |
| Return on assets | 26.6% | 126.8% | 3.2% | |
| Equity ratio | 21.3% | 45.8% | 42.5% | |
| Current ratio | 0.92 | 1.90 | 2.38 | |
| Revenue growth | – | – | 3,697.8% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | – | 0.0 MNOK | 1.7 MNOK |
| Operating profit | −8.4 MNOK | −32.0 MNOK | −8.8 MNOK |
| Profit before tax | 539.9 MNOK | 1,995.0 MNOK | −44.5 MNOK |
| Tax expense | – | – | – |
| Net profit | 539.9 MNOK | 1,995.0 MNOK | −44.5 MNOK |
| Financial expenses | 108.0 MNOK | 130.9 MNOK | 94.5 MNOK |
| Total assets | 2,438.7 MNOK | 1,676.6 MNOK | 1,575.2 MNOK |
| Current assets | 1,440.1 MNOK | 801.1 MNOK | 858.8 MNOK |
| Equity | 519.4 MNOK | 767.3 MNOK | 669.9 MNOK |
| Retained earnings | 519.4 MNOK | 0.0 MNOK | – |
| Total liabilities | 1,919.3 MNOK | 909.3 MNOK | 905.3 MNOK |
| Current liabilities | 1,565.2 MNOK | 421.7 MNOK | 360.7 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 30 October 2026, accounts id 6952408.
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