VVS AS
Score · fiscal year 2025
41of 100
How to read this: the company is ahead of 34 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 8,527 of 12,950 · What are Morning company classes?
Place in the whole sector: 13,720 of 20,428 · Bygg og anlegg
Profile
Elephant · Steward
Lower profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 9 and solidity 75 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
VVS AS is 9 points below the median for companies in the Morning class Micro in the same sector in 2025.
Median score 50 among 12,943 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin −12.9% (median 3.5%) and equity ratio 59.9% (median 33.1%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 5 MNOK | 3 MNOK |
| Operating margin | −12.9% | 3.5% |
| Profit margin | −13.0% | 3.0% |
| Return on assets | −25.6% | 7.8% |
| Equity ratio | 59.9% | 33.1% |
| Debt-to-equity | 0.67 | 1.41 |
| Current ratio | 2.46 | 1.42 |
| Revenue growth | −38.9% | 6.1% |
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 41, VVS AS does better than 34% of companies in the Morning class Micro in the same sector (12,950 companies) in 2025.
Score 2023–2025
- VVS AS
- Median: companies in the Morning class Micro in the same sector
VVS AS has a score of 41 for 2025, rank 13,720 of 20,428 in the sector.
Strongest: Liquidity: percentile 78 against peers, current ratio 2.46 against a median of 1.42. Solidity: percentile 75 against peers, equity ratio 59.9% against a median of 33.1%.
Weakest: Growth: percentile 7 against peers, revenue growth −38.9% against a median of 6.1%. Profitability: percentile 9 against peers, operating margin −12.9% against a median of 3.5%.
Worth a closer look
- The company made a loss before tax. Are these one-off items or a pattern? Based on: profit margin −13.0% (median 3.0%).
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin −12.9% (median 3.5%).
- What lies behind weak growth, and will it last?
- 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
VVS AS had an operating margin of −12.9% and an equity ratio of 59.9% in 2025, and ranks 13,720 of 20,428 in Bygg og anlegg.
From 2024 to 2025: the operating margin fell from 21.2% to −12.9% and went from a profit to a loss before tax.
This text is generated automatically from the 2025 accounts.
Three simple methods
One method gives a figure: 2 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | not meaningful |
| EV/EBIT | 8.0 | not meaningful |
| P/B | 1.0 | 2 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 −13.0% (median 3.0%).
- 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 −12.9% (median 3.5%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 0.7% 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 1.8%. Based on the 10 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 9 | weight 30% |
|---|---|---|
| Solidity | 75 | weight 25% |
| Liquidity | 78 | weight 15% |
| Growth | 7 | weight 15% |
| Consistency | 46 | weight 15% |
Durability: 54 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is VVS AS?
The operating margin was −12.9% in 2025, against a median of 3.5% among companies in the Morning class Micro in the same sector. Return on assets was −25.6%. The company made a loss before tax.
How solid is VVS AS?
The equity ratio was 59.9% in 2025 (median 33.1%). Debt-to-equity was 0.67 (median 1.41).
What is the liquidity of VVS AS like?
The current ratio was 2.46 in 2025 (median 1.42).
How does VVS AS compare in Bygg og anlegg?
VVS AS ranks 13,720 of 20,428 in Bygg og anlegg for 2025. Among companies in the Morning class Micro it is number 8,527 of 12,950. Revenue changed by −38.9% from the year before.
From the Central Coordinating Register
- Org. no.
- 915282504
- Legal form
- AS
- Sector
- Bygg og anlegg (43.221)
- Morning company class
- Micro
- Employees
- 0–4 (not registered)
- Founded
- 30 March 2015 11 years in operation
- Share capital
- 0.03 MNOK
- Business address
- c/o Sten Brix Nørager, Kristianiaveien 19B, 1823 KNAPSTAD (INDRE ØSTFOLD)
- Municipality
- Indre Østfold rank 8 of 13 in KOSTRA group 10
- 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
- Sten Brix Nørager
- Chair of the board
- Sten Brix Nørager
- Auditor
- AMICA REVISJON AS
- Accountant
- HASLESTAD REGNSKAP 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 | 45 | 78 | 41 | |
| Rank | 10,836 | 1,192 | 13,720 | |
| Operating margin | −15.0% | 21.2% | −12.9% | |
| Return on assets | −35.6% | 44.6% | −25.6% | |
| Equity ratio | 48.0% | 55.3% | 59.9% | |
| Current ratio | 1.78 | 2.19 | 2.46 | |
| Revenue growth | – | 58.8% | −38.9% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 5.3 MNOK | 8.4 MNOK | 5.1 MNOK |
| Operating profit | −0.8 MNOK | 1.8 MNOK | −0.7 MNOK |
| Profit before tax | −0.8 MNOK | 1.8 MNOK | −0.7 MNOK |
| Net profit | −0.8 MNOK | 1.5 MNOK | −0.7 MNOK |
| Financial expenses | 0.0 MNOK | 0.0 MNOK | 0.0 MNOK |
| Total assets | 2.2 MNOK | 4.0 MNOK | 2.6 MNOK |
| Current assets | 2.0 MNOK | 3.9 MNOK | 2.5 MNOK |
| Equity | 1.1 MNOK | 2.2 MNOK | 1.5 MNOK |
| Retained earnings | 1.0 MNOK | 2.2 MNOK | 1.5 MNOK |
| Total liabilities | 1.1 MNOK | 1.8 MNOK | 1.0 MNOK |
| Current liabilities | 1.1 MNOK | 1.8 MNOK | 1.0 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 26 October 2026, accounts id 7006858.
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