Headwind AS
Score · fiscal year 2025
Not enough data: Not enough data (below minimum revenue)
Based on the annual accounts for 2025
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 0 MNOK | 3 MNOK |
| Operating margin | −157.7% | 9.0% |
| Profit margin | −390.4% | 9.6% |
| Return on assets | −2.3% | 16.9% |
| Equity ratio | 45.2% | 43.0% |
| Debt-to-equity | 1.21 | 1.11 |
| Current ratio | 0.01 | 1.66 |
| Revenue growth | 87.4% | 5.8% |
The median and “ahead of” refer to companies in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
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.
The industry or the company: what drove the result?
In 2025 the operating margin of Headwind AS rose by 43.6 percentage points. Comparable companies fell by a median 0.6 points. So the company did 44.2 points better than the industry, for reasons of its own.
Over 2 year-to-year changes Headwind AS moved the same way as comparable companies 0 times. About 0% 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 | −201.3% | 9.6% | +382.1 percentage points | −0.2 percentage points | +382.2 percentage points |
| 2025 | −157.7% | 9.0% | +43.6 percentage points | −0.6 percentage points | +44.2 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 Headwind AS. The figures stand side by side; we claim no cause.
Turnover index: legal and accounting activities (indeks (2021 = 100))
Turnover index: legal and accounting activities rose 4.8% in 2025; the operating margin of Headwind AS rose 43.6 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Turnover index: legal and accounting activities, annual average | 100.4 | 107.7 | 127.0 | 135.2 | 141.7 | 149.6 (so far) |
| Change from the year before | +8.7% | +7.3% | +17.9% | +6.4% | +4.8% | +5.5% |
| The company's operating margin | – | – | −583.4% | −201.3% | −157.7% | – |
Source: SSB (13863, CC BY 4.0). Source
Turnover index: management consultancy (indeks (2021 = 100))
Turnover index: management consultancy rose 6.5% in 2025; the operating margin of Headwind AS rose 43.6 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Turnover index: management consultancy, annual average | 99.4 | 104.0 | 114.9 | 116.0 | 123.6 | 128.7 (so far) |
| Change from the year before | +17.3% | +4.6% | +10.5% | +1.0% | +6.5% | +4.1% |
| The company's operating margin | – | – | −583.4% | −201.3% | −157.7% | – |
Source: SSB (13863, CC BY 4.0). Source
Service prices: legal and accounting (indeks (2021 = 100))
Service prices: legal and accounting rose 4.9% in 2025; the operating margin of Headwind AS rose 43.6 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Service prices: legal and accounting, annual average | 100.0 | 104.8 | 111.8 | 117.4 | 123.2 | 127.0 (so far) |
| Change from the year before | +3.4% | +4.8% | +6.7% | +5.0% | +4.9% | +3.1% |
| The company's operating margin | – | – | −583.4% | −201.3% | −157.7% | – |
Source: SSB (14335, CC BY 4.0). Source
Consumer price index (indeks (2025 = 100))
Consumer price index rose 3.0% in 2025; the operating margin of Headwind AS rose 43.6 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Consumer price index, annual average | 84.3 | 89.2 | 94.1 | 97.0 | 100.0 | 102.9 (so far) |
| Change from the year before | +3.5% | +5.8% | +5.5% | +3.2% | +3.0% | +2.9% |
| The company's operating margin | – | – | −583.4% | −201.3% | −157.7% | – |
Source: SSB (14710, CC BY 4.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Headwind AS rose 43.6 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 | – | – | −583.4% | −201.3% | −157.7% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
Wage index: legal and accounting (indeks)
Wage index: legal and accounting rose 5.4% in 2025; the operating margin of Headwind AS rose 43.6 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: legal and accounting, annual average | 86.2 | 89.8 | 93.9 | 99.1 | 104.4 | 108.4 (so far) |
| Change from the year before | +5.1% | +4.3% | +4.5% | +5.6% | +5.4% | +3.8% |
| The company's operating margin | – | – | −583.4% | −201.3% | −157.7% | – |
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
Headwind AS had an equity ratio of 45.2% in 2025. The company is not ranked: not enough data (below minimum revenue).
From 2024 to 2025: the operating margin rose from −201.3% to −157.7% and revenue grew by 87%.
This text is generated automatically from the 2025 accounts.
Three simple methods
One method gives a figure: 12 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 22.4 | not meaningful |
| EV/EBIT | 17.4 | not meaningful |
| P/B | 4.1 | 12 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
- critical
Consider strengthening liquidity: current liabilities are 100.9 times current assets.
Based on: Current ratio 0.01 (median 1.66).
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −390.4% (median 9.6%).
- 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 −157.7% (median 9.0%).
- watch
Strong growth with weak liquidity. Is the growth financed, or does it tie up capital the company does not have?
Based on: Revenue growth 87.4% (median 5.8%); Current ratio 0.01 (median 1.66).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 6.1% 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 5.4%. Based on the 7 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
Questions and answers
How profitable is Headwind AS?
The operating margin was −157.7% in 2025, against a median of 9.0% among companies in the same sector. Return on assets was −2.3%. The company made a loss before tax.
How solid is Headwind AS?
The equity ratio was 45.2% in 2025 (median 43.0%). Debt-to-equity was 1.21 (median 1.11).
What is the liquidity of Headwind AS like?
The current ratio was 0.01 in 2025 (median 1.66). Current assets did not cover current liabilities.
Group structure · 2025
2 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 Headwind AS.
Headwind AS has not filed group accounts in open data, so the group has no index of its own. Each company has its own accounts.
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Headwind AS you are here
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.
- 892791392
- Legal form
- AS
- Sector
- Revisjon, regnskap og rådgivning (70.200)
- Morning company class
- Micro
- Employees
- 0–4 (not registered)
- Founded
- 11 June 2008 18 years in operation
- Share capital
- 0.30 MNOK
- Business address
- Kanalveien 52C, 5068 BERGEN
- Municipality
- Bergen rank 8 of 11 in KOSTRA group 12
- Latest accounts filed
- 2025
- LEI
- 2549002OYP8J1RQCWV69 renews 25 October 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 2 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
- 3
- Largest owner
- 33.3%
- Split
- companies 100% · private persons 0% · foreign 0%
- Owned from the same municipality
- 67%
- KYVIK & CO AS · 33.3%
- Andenes AS · 33.3%
- Våge AS · 33.3%
The company is new in the shareholder register in 2025.
Majority owner of: Headwind Økonomi AS (100%)
Holds shares in: Risør Shipping Holding AS (2%), Headwind Økonomi AS (100%)
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 | – | – | – | |
| Rank | – | – | – | |
| Operating margin | −583.4% | −201.3% | −157.7% | |
| Return on assets | −3.2% | −0.9% | −2.3% | |
| Equity ratio | 26.2% | 52.4% | 45.2% | |
| Current ratio | 0.05 | 0.19 | 0.01 | |
| Revenue growth | – | 0.0% | 87.4% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 0.1 MNOK | 0.1 MNOK | 0.2 MNOK |
| Operating profit | −0.6 MNOK | −0.2 MNOK | −0.3 MNOK |
| Profit before tax | −1.1 MNOK | −1.1 MNOK | −0.7 MNOK |
| Tax expense | – | – | – |
| Net profit | −1.1 MNOK | −1.1 MNOK | −0.7 MNOK |
| Financial expenses | 0.6 MNOK | 0.9 MNOK | 0.4 MNOK |
| Total assets | 17.3 MNOK | 14.3 MNOK | 13.0 MNOK |
| Current assets | 0.4 MNOK | 0.8 MNOK | 0.1 MNOK |
| Equity | 4.5 MNOK | 7.5 MNOK | 5.9 MNOK |
| Retained earnings | 0.4 MNOK | −0.6 MNOK | −2.2 MNOK |
| Total liabilities | 12.8 MNOK | 6.8 MNOK | 7.1 MNOK |
| Current liabilities | 7.5 MNOK | 4.3 MNOK | 5.8 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 30 October 2026, accounts id 6520333.