VARME SYSTEMER AS
Score · fiscal year 2025
61of 100
How to read this: the company is ahead of 73 % of small companies in the same sector in 2025. What does this mean?
Rank: 10,700 of 38,670 · 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 65 out of 100 among small companies in the same sector in 2025. Methodology
Against the sector
VARME SYSTEMER AS is 11 points above the median for small companies in the same sector in 2025.
Median score 50 among 36,110 companies.
Against small companies in the same sector in 2025: operating margin 3.8% (median 2.5%) and equity ratio 62.3% (median 38.3%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 56 MNOK | 3 MNOK |
| Operating margin | 3.8% | 2.5% |
| Profit margin | 3.5% | 2.2% |
| Return on assets | 6.2% | 4.0% |
| Equity ratio | 62.3% | 38.3% |
| Debt-to-equity | 0.61 | 0.99 |
| Current ratio | 3.50 | 1.70 |
| Revenue growth | −1.6% | 3.5% |
| Revenue per employee | 6.27 MNOK | 1.62 MNOK |
The median and “ahead of” refer to small companies in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 61, VARME SYSTEMER AS does better than 73% of small companies in the same sector (36,579 companies) in 2025.
Score 2023–2025
- VARME SYSTEMER AS
- Median: small companies in the same sector
VARME SYSTEMER AS has a score of 61 for 2025, rank 10,700 of 38,670 in the sector.
Strongest: Consistency: percentile 74 against peers. Liquidity: percentile 74 against peers, current ratio 3.50 against a median of 1.70.
Weakest: Growth: percentile 37 against peers, revenue growth −1.6% against a median of 3.5%.
Worth a closer look
- What lies behind weak growth, 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
VARME SYSTEMER AS had an operating margin of 3.8% and an equity ratio of 62.3% in 2025, and ranks 10,700 of 38,670 in Handel.
From 2024 to 2025: the operating margin fell from 7.7% to 3.8% and the equity ratio rose from 55.8% to 62.3%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 13 MNOK and 23 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 13 MNOK |
| EV/EBIT | 8.0 | 13 MNOK |
| P/B | 1.0 | 23 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 2.3% 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.
Data quality
No anomalies found in the figures.
Scenario analysis: the sector's weakest year
We have no accounts for 2017, the sector's weakest year, for this company.
The sector's weakest year was 2017, with a median operating margin of −65.6%. 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 | 65 | weight 25% |
| Liquidity | 74 | weight 15% |
| Growth | 37 | weight 15% |
| Consistency | 74 | weight 15% |
Durability: 65 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is VARME SYSTEMER AS?
The operating margin was 3.8% in 2025, against a median of 2.5% among small companies in the same sector. Return on assets was 6.2%.
How solid is VARME SYSTEMER AS?
The equity ratio was 62.3% in 2025 (median 38.3%). Debt-to-equity was 0.61 (median 0.99).
What is the liquidity of VARME SYSTEMER AS like?
The current ratio was 3.50 in 2025 (median 1.70).
How does VARME SYSTEMER AS compare in Handel?
VARME SYSTEMER AS ranks 10,700 of 38,670 in Handel for 2025. Among companies of the same size (small companies) it ranks 10,033 of 36,579. Revenue changed by −1.6% from the year before.
From the Central Coordinating Register
- Org. no.
- 911468255
- Legal form
- AS
- Sector
- Handel (46.840)
- Size tier
- small
- Employees
- 9 registered 10 September 2026
- Founded
- 22 January 1953 73 years in operation
- Share capital
- 0.10 MNOK
- Business address
- Ensjøveien 22, 0661 OSLO
- Municipality
- Oslo rank 63–221 of 357 in Norway
- 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
- Chief executive
- Lars Gunnar Dyrhoff
- Chair of the board
- Lars Gunnar Dyrhoff
- Auditor
- FRAM REVISJON AS
- Accountant
- ØKORÅD ELVERUM & RENA 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 · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 68 | 67 | 61 | |
| Rank | 7,135 | 6,692 | 10,700 | |
| Operating margin | 10.7% | 7.7% | 3.8% | |
| Return on assets | 15.6% | 11.3% | 6.2% | |
| Equity ratio | 52.9% | 55.8% | 62.3% | |
| Current ratio | 2.23 | 2.47 | 3.50 | |
| Revenue growth | – | 11.3% | −1.6% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 51.5 MNOK | 57.3 MNOK | 56.4 MNOK |
| Operating profit | 5.5 MNOK | 4.4 MNOK | 2.1 MNOK |
| Profit before tax | 5.1 MNOK | 4.2 MNOK | 2.0 MNOK |
| Net profit | 4.0 MNOK | 3.3 MNOK | 1.3 MNOK |
| Financial expenses | 0.6 MNOK | 0.3 MNOK | 0.3 MNOK |
| Total assets | 36.2 MNOK | 40.2 MNOK | 37.0 MNOK |
| Current assets | 34.3 MNOK | 37.4 MNOK | 34.3 MNOK |
| Equity | 19.1 MNOK | 22.4 MNOK | 23.1 MNOK |
| Retained earnings | 19.0 MNOK | 22.3 MNOK | 23.0 MNOK |
| Total liabilities | 17.0 MNOK | 17.8 MNOK | 14.0 MNOK |
| Current liabilities | 15.3 MNOK | 15.2 MNOK | 9.8 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 26 October 2026, accounts id 6746608.
Further
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