Idecon Eiendom AS
Not financial advice. The index, rank, signals and advice are rule-based indications from the latest filed annual accounts. They are not a credit rating, an assessment of management or a recommendation to buy, sell or do business with the company. Read more
Score · fiscal year 2025
47of 100
How to read this: the company is ahead of 42 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 1,885 of 3,270 · What are Morning company classes?
Place in the whole sector: 3,257 of 5,554 · Teknisk tjenesteyting og forskning
Profile
Cheetah · Sprinter
High profitability, lower resilience
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 63 and resilience 25 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
Idecon Eiendom AS is 4 points below the median for companies in the Morning class Micro in the same sector in 2025.
Median score 51 among 3,269 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin 25.1% (median 5.5%) and equity ratio 12.0% (median 41.9%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 1 MNOK | 3 MNOK |
| Operating margin | 25.1% | 5.5% |
| Profit margin | −0.1% | 5.2% |
| Return on assets | 7.5% | 10.8% |
| Equity ratio | 12.0% | 41.9% |
| Debt-to-equity | 7.35 | 1.09 |
| Current ratio | 1.75 | 1.68 |
| Revenue growth | 128.4% | 6.0% |
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 47, Idecon Eiendom AS does better than 42% of companies in the Morning class Micro in the same sector (3,270 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.
Idecon Eiendom AS has a score of 47 for 2025, rank 3,257 of 5,554 in the sector.
Strongest: Profitability: percentile 63 against peers, operating margin 25.1% against a median of 5.5%.
Weakest: Solidity: percentile 17 against peers, equity ratio 12.0% against a median of 41.9%. Consistency: percentile 25 against peers.
Worth a closer look
- The company made a loss before tax. Are these one-off items or a pattern? Based on: profit margin −0.1% (median 5.2%).
- What lies behind weak solidity, and will it last?
- What lies behind weak consistency, and will it last?
- The change in operating margin in 2025 was 27.7 percentage points weaker than for comparable companies: the company −27.9, the industry −0.3 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 Idecon Eiendom AS fell by 27.9 percentage points. Comparable companies fell by a median 0.3 points. So the company did 27.7 points weaker than the industry, for reasons of its own.
Over 2 year-to-year changes Idecon Eiendom AS moved the same way as comparable companies 1 times. About 1% 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 | 53.0% | 5.7% | +35.3 percentage points | −0.2 percentage points | +35.5 percentage points |
| 2025 | 25.1% | 5.5% | −27.9 percentage points | −0.3 percentage points | −27.7 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 Idecon Eiendom 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 Idecon Eiendom AS fell 27.9 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 | – | – | 17.7% | 53.0% | 25.1% | – |
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 Idecon Eiendom AS fell 27.9 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 | – | – | 17.7% | 53.0% | 25.1% | – |
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 Idecon Eiendom AS fell 27.9 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 | – | – | 17.7% | 53.0% | 25.1% | – |
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 Idecon Eiendom AS fell 27.9 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 | – | – | 17.7% | 53.0% | 25.1% | – |
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 Idecon Eiendom AS fell 27.9 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 | – | – | 17.7% | 53.0% | 25.1% | – |
Source: SSB (08799, CC BY 4.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Idecon Eiendom AS fell 27.9 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 | – | – | 17.7% | 53.0% | 25.1% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
EUR/NOK (kr)
EUR/NOK rose 0.8% in 2025; the operating margin of Idecon Eiendom AS fell 27.9 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 | – | – | 17.7% | 53.0% | 25.1% | – |
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 Idecon Eiendom AS fell 27.9 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 | – | – | 17.7% | 53.0% | 25.1% | – |
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
Idecon Eiendom AS had an operating margin of 25.1% and an equity ratio of 12.0% in 2025, and ranks 3,257 of 5,554 in Teknisk tjenesteyting og forskning.
From 2024 to 2025: the operating margin fell from 53.0% to 25.1% and revenue grew by 128%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 1 MNOK and 2 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 14.9 | not meaningful |
| EV/EBIT | 14.3 | 2 MNOK |
| P/B | 2.3 | 1 MNOK |
| EV/EBIT: from enterprise value to equity | NOK |
|---|---|
| Enterprise value (EV) at the listed multiple | 3 MNOK |
| Enterprise value after the size adjustment | 2 MNOK |
| Less net debt (rough figure) | 0 MNOK |
| Equity value | 2 MNOK |
Net debt is a rough figure: long-term liabilities minus cash. The accounts do not split interest-bearing debt from other liabilities, and short-term borrowings are not included. The size adjustment applies to the enterprise value, not to the debt.
The listed basis is the value at listed multiples. The estimate is lowered for size: a small-company premium of 4% on the cost of equity gives a value 38% lower. No separate marketability discount is applied, because the premium already allows for the company being small and unlisted.
The multiples are from the listed industry that matches the NACE code (71.1): Engineering/Construction.
Not financial advice. The value range is a rough model estimate from listed-company multiples, not a valuation, a price target or a price offer. The actual value may differ greatly. Read more
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
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −0.1% (median 5.2%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 8.5% 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 | 63 | weight 40% |
|---|---|---|
| Solidity | 17 | weight 20% |
| Liquidity | 53 | weight 5% |
| Growth | 51 | weight 25% |
| Consistency | 25 | weight 10% |
Three goals: profitability 40%, growth 25%, resilience 35%. Why these weights?
Index version 3. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Idecon Eiendom AS?
The operating margin was 25.1% in 2025, against a median of 5.5% among companies in the Morning class Micro in the same sector. Return on assets was 7.5%. The company made a loss before tax.
How solid is Idecon Eiendom AS?
The equity ratio was 12.0% in 2025 (median 41.9%). Debt-to-equity was 7.35 (median 1.09).
What is the liquidity of Idecon Eiendom AS like?
The current ratio was 1.75 in 2025 (median 1.68).
How does Idecon Eiendom AS compare in Teknisk tjenesteyting og forskning?
Idecon Eiendom AS ranks 3,257 of 5,554 in Teknisk tjenesteyting og forskning for 2025. Among companies in the Morning class Micro it is number 1,885 of 3,270. Revenue changed by 128.4% from the year before.
Group structure · 2025
13 companies in the group according to the shareholder register for 2025. A company counts as a subsidiary when a Norwegian company owns more than half of its shares.
No owner holds more than half of the shares in Norgeshus Gruppen AS.
Norgeshus Gruppen AS has not filed group accounts in open data, so the group has no index of its own. Each company has its own accounts.
The group in figures
- Sectors
- Teknisk tjenesteyting og forskning (2 companies), Bygg og anlegg (1 company), Handel (1 company), Revisjon, regnskap og rådgivning (1 company) 5 of 13 companies in the tree have accounts with us. Sectors are sorted by the companies' own revenue, which includes sales between the group's companies.
- Employees in Norway
- 78 in all. Melhus 78 Registered employees in the Central Coordinating Register, by the municipality of the business address. Employees may work elsewhere.
- Loss
- 3 companies: Norgeshus Global Homes AS, Økonomipartner Norge AS, Idecon Eiendom AS
- Changed 2024–2025
- 3 companies joined the group: Kroken Eiendom AS, Furuhaugen Eiendom AS, Melhus-Eiendomsutvikling AS.
A subsidiary with negative equity or a loss may be backed by the group, for example with group contributions or guarantees. It is an indication of what is worth asking about, not an assessment.
Read the figures with care: a company in a group can look strong because of group contributions, or weak because dividends go up to the parent. The figures are indications, not the full picture.
Source: the Norwegian Tax Administration's shareholder register 2025 (majority owner with more than 50 % of the shares). Voting agreements and ownership through other countries are not included.
From the Central Coordinating Register
- Org. no.
- 890980562
- Legal form
- AS
- Sector
- Teknisk tjenesteyting og forskning (71.121)
- Morning company class
- Micro
- Employees
- 0–4 (not registered)
- Founded
- 15 February 2007 19 years in operation
- Share capital
- 0.09 MNOK
- Business address
- Per Bortens veg 3, 7224 MELHUS
- Municipality
- Melhus rank 16–28 of 38 in KOSTRA group 7
- Audit
- Audit opted out from 26 October 2024
- Latest accounts filed
- 2025
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 2 November 2026. Only names are shown.
Shareholders (2025)
- Number of shareholders
- 1 (one owner)
- Largest owner
- 100.0%
- Split
- companies 100% · private persons 0% · foreign 0%
- Owned from the same municipality
- 100%
- Group chain
-
Owned by: Norgeshus Eiendom AS (100%)
Ultimate owner: Norgeshus Gruppen AS
- Norgeshus Eiendom AS · 100.0%
Change 2007–2025:
100% of the shares changed owner (1 new and 1 departed owners). The majority owner changed.
New owners (companies): Norgeshus Eiendom AS
Departed (companies): Norgeshus AS
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.
Is this your company? Suggest changes or add information
Figures last fetched 30 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | – | – | 47 | |
| Rank | – | – | 3,257 | |
| Operating margin | 17.7% | 53.0% | 25.1% | |
| Return on assets | −8.1% | 2.3% | 7.5% | |
| Equity ratio | 5.2% | 5.3% | 12.0% | |
| Current ratio | 13.60 | 9.95 | 1.75 | |
| Revenue growth | – | 0.0% | 128.4% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 0.5 MNOK | 0.5 MNOK | 1.1 MNOK |
| Operating profit | 0.1 MNOK | 0.3 MNOK | 0.3 MNOK |
| Profit before tax | −0.4 MNOK | −0.3 MNOK | 0.0 MNOK |
| Tax expense | −0.1 MNOK | −0.1 MNOK | 0.0 MNOK |
| Net profit | −0.3 MNOK | −0.2 MNOK | 0.0 MNOK |
| Financial expenses | −0.5 MNOK | 0.5 MNOK | 0.3 MNOK |
| Total assets | 11.4 MNOK | 11.2 MNOK | 4.3 MNOK |
| Current assets | 0.5 MNOK | 0.4 MNOK | 0.9 MNOK |
| Equity | 0.6 MNOK | 0.6 MNOK | 0.5 MNOK |
| Retained earnings | −1.7 MNOK | −1.7 MNOK | −1.8 MNOK |
| Total liabilities | 10.8 MNOK | 10.6 MNOK | 3.8 MNOK |
| Current liabilities | 0.0 MNOK | 0.0 MNOK | 0.5 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 30 October 2026, accounts id 6412543.
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