Gustav Norge AS
Score · fiscal year 2025
70of 100
How to read this: the company is ahead of 86 % of companies in the Morning class Small in the same sector in 2025. What does this mean?
Rank in the Morning class Small: 1,014 of 7,414 · What are Morning company classes?
Place in the whole sector: 3,148 of 22,952 · Handel
Profile
Lion · Leader
High profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 56 and solidity 80 out of 100 among companies in the Morning class Small in the same sector in 2025. Methodology
Against the sector
Gustav Norge AS is 19 points above the median for companies in the Morning class Small in the same sector in 2025.
Median score 51 among 7,414 companies.
Against companies in the Morning class Small in the same sector in 2025: operating margin 3.7% (median 3.4%) and equity ratio 63.9% (median 36.3%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 11 MNOK | 20 MNOK |
| Operating margin | 3.7% | 3.4% |
| Profit margin | 4.0% | 3.0% |
| Return on assets | 12.9% | 10.0% |
| Equity ratio | 63.9% | 36.3% |
| Debt-to-equity | 0.56 | 1.51 |
| Current ratio | 2.75 | 1.73 |
| Revenue growth | 10.5% | 5.7% |
The median and “ahead of” refer to companies in the Morning class Small in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 70, Gustav Norge AS does better than 86% of companies in the Morning class Small in the same sector (7,414 companies) in 2025.
Score 2024–2026
- Gustav Norge AS
- Median: companies in the Morning class Small in the same sector
Gustav Norge AS has a score of 70 for 2025, rank 3,148 of 22,952 in the sector.
Strongest: Consistency: percentile 84 against peers. Solidity: percentile 80 against peers, equity ratio 63.9% against a median of 36.3%.
No area is clearly below its peers.
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
Gustav Norge AS had an operating margin of 3.7% and an equity ratio of 63.9% in 2025, and ranks 3,148 of 22,952 in Handel.
From 2024 to 2025: the equity ratio rose from 44.3% to 63.9% and revenue grew by 10%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 3 MNOK and 5 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 3 MNOK |
| EV/EBIT | 8.0 | 5 MNOK |
| P/B | 1.0 | 3 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
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 9.1% 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
No anomalies found in the figures.
Scenario analysis: the sector's weakest year
We have no accounts for 2022, the sector's weakest year, for this company.
The sector's weakest year was 2022, with a median operating margin of 1.5%. Based on the 11 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 56 | weight 30% |
|---|---|---|
| Solidity | 80 | weight 25% |
| Liquidity | 75 | weight 15% |
| Growth | 63 | weight 15% |
| Consistency | 84 | weight 15% |
Durability: 64 (average over 2 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Gustav Norge AS?
The operating margin was 3.7% in 2025, against a median of 3.4% among companies in the Morning class Small in the same sector. Return on assets was 12.9%.
How solid is Gustav Norge AS?
The equity ratio was 63.9% in 2025 (median 36.3%). Debt-to-equity was 0.56 (median 1.51).
What is the liquidity of Gustav Norge AS like?
The current ratio was 2.75 in 2025 (median 1.73).
How does Gustav Norge AS compare in Handel?
Gustav Norge AS ranks 3,148 of 22,952 in Handel for 2025. Among companies in the Morning class Small it is number 1,014 of 7,414. Revenue changed by 10.5% from the year before.
From the Central Coordinating Register
- Org. no.
- 896869302
- Legal form
- AS
- Sector
- Handel (46.420)
- Morning company class
- Small
- Employees
- 0–4 (not registered)
- Founded
- 21 March 2011 15 years in operation
- Share capital
- 0.10 MNOK
- Business address
- Tordivelveien 4, 3218 SANDEFJORD
- Municipality
- Sandefjord rank 2–7 of 10 in KOSTRA group 11
- Latest accounts filed
- 2026
- Website
- www.gustav-denmark.com
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
- Chief executive
- Henrik Borgaard
- Chair of the board
- Ole Kudahl Isaksen
- Board member
- Henrik Borgaard
- Board member
- Helene Egdal Hempler
- Auditor
- Cedra Norge AS
Source: Central Coordinating Register, fetched 29 October 2026. Only names are shown.
Owners and shareholdings will appear here once the shareholder data extract is in place.
Coming · not built yet
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 26 October 2026.
Year by year · 2024–2026
| Key figure | 2024 | 2025 | 2026 | Trend |
|---|---|---|---|---|
| Index | 58 | 70 | 62 | |
| Rank | 7,956 | 3,148 | 53 | |
| Operating margin | 3.9% | 3.7% | 3.7% | |
| Return on assets | 9.0% | 12.9% | 10.0% | |
| Equity ratio | 44.3% | 63.9% | 70.8% | |
| Current ratio | 1.79 | 2.75 | 3.39 | |
| Revenue growth | – | 10.5% | −26.3% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2024 | 2025 | 2026 |
|---|---|---|---|
| Operating revenue | 9.7 MNOK | 10.7 MNOK | 7.9 MNOK |
| Operating profit | 0.4 MNOK | 0.4 MNOK | 0.3 MNOK |
| Profit before tax | 0.4 MNOK | 0.4 MNOK | 0.2 MNOK |
| Net profit | 0.3 MNOK | 0.3 MNOK | 0.2 MNOK |
| Financial expenses | 0.1 MNOK | 0.1 MNOK | 0.2 MNOK |
| Total assets | 5.7 MNOK | 4.4 MNOK | 4.3 MNOK |
| Current assets | 5.6 MNOK | 4.4 MNOK | 4.2 MNOK |
| Equity | 2.5 MNOK | 2.8 MNOK | 3.0 MNOK |
| Retained earnings | 2.4 MNOK | 2.7 MNOK | 2.9 MNOK |
| Total liabilities | 3.1 MNOK | 1.6 MNOK | 1.2 MNOK |
| Current liabilities | 3.1 MNOK | 1.6 MNOK | 1.2 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 26 October 2026, accounts id 6332187.
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