Wellstarter 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 | 1 MNOK | 3 MNOK |
| Operating margin | −68.6% | 4.9% |
| Profit margin | −170.2% | 4.8% |
| Return on assets | −0.6% | 10.2% |
| Equity ratio | 81.1% | 40.9% |
| Debt-to-equity | 0.23 | 1.12 |
| Current ratio | 0.29 | 1.66 |
| Revenue growth | 0.8% | 5.2% |
| Revenue per employee | 0.11 MNOK | 0.75 MNOK |
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 Wellstarter AS rose by 181.0 percentage points. Comparable companies fell by a median 0.9 points. So the company did 181.9 points better than the industry, for reasons of its own.
Over 2 year-to-year changes Wellstarter 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 | −249.6% | 5.8% | +358.9 percentage points | +0.1 percentage points | +358.8 percentage points |
| 2025 | −68.6% | 4.9% | +181.0 percentage points | −0.9 percentage points | +181.9 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 Wellstarter 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 Wellstarter AS rose 181.0 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 | – | – | −608.6% | −249.6% | −68.6% | – |
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 Wellstarter AS rose 181.0 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 | – | – | −608.6% | −249.6% | −68.6% | – |
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 Wellstarter AS rose 181.0 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 | – | – | −608.6% | −249.6% | −68.6% | – |
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 Wellstarter AS rose 181.0 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 | – | – | −608.6% | −249.6% | −68.6% | – |
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 Wellstarter AS rose 181.0 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 | – | – | −608.6% | −249.6% | −68.6% | – |
Source: SSB (08799, CC BY 4.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Wellstarter AS rose 181.0 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 | – | – | −608.6% | −249.6% | −68.6% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
EUR/NOK (kr)
EUR/NOK rose 0.8% in 2025; the operating margin of Wellstarter AS rose 181.0 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 | – | – | −608.6% | −249.6% | −68.6% | – |
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 Wellstarter AS rose 181.0 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 | – | – | −608.6% | −249.6% | −68.6% | – |
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
Wellstarter AS had an equity ratio of 81.1% in 2025. The company is not ranked: not enough data (below minimum revenue).
From 2024 to 2025: the operating margin rose from −249.6% to −68.6%.
This text is generated automatically from the 2025 accounts.
Three simple methods
One method gives a figure: 122 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 18.6 | not meaningful |
| EV/EBIT | 15.9 | not meaningful |
| P/B | 3.2 | 122 MNOK |
The listed basis is the value at listed multiples. The estimate is lowered by 46% for an unlisted company: 20% for lack of marketability and 32% for size (a small-company premium of 3% 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 3.4 times current assets.
Based on: Current ratio 0.29 (median 1.66).
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −170.2% (median 4.8%).
- 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 −68.6% (median 4.9%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 5.2% 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
Questions and answers
How profitable is Wellstarter AS?
The operating margin was −68.6% in 2025, against a median of 4.9% among companies in the same sector. Return on assets was −0.6%. The company made a loss before tax.
How solid is Wellstarter AS?
The equity ratio was 81.1% in 2025 (median 40.9%). Debt-to-equity was 0.23 (median 1.12).
What is the liquidity of Wellstarter AS like?
The current ratio was 0.29 in 2025 (median 1.66). Current assets did not cover current liabilities.
From the Central Coordinating Register
- Org. no.
- 915535364
- Legal form
- AS
- Sector
- Teknisk tjenesteyting og forskning (71.129)
- Morning company class
- Micro
- Employees
- 7 registered 10 September 2026
- Founded
- 5 May 2015 11 years in operation
- Share capital
- 0.44 MNOK
- Business address
- Stiklestadveien 3, 7041 TRONDHEIM
- Municipality
- Trondheim rank 3 of 11 in KOSTRA group 12
- 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 1 November 2026. Only names are shown.
Shareholders (2025)
- Number of shareholders
- 24
- Largest owner
- 8.7% · top three 20.2%
- Split
- companies 27% · private persons 6% · foreign 6%
- Owners over 60
- 27% of the shares held by persons (median age 53)
- Proventure Seed II AS · 26.2%
- Izulu AS · 16.1%
- Ara Energy Venture AS · 6.7%
- Ehc AS · 6.2%
- Myrteigen Prores AS · 4.1%
- Investitude AS · 3.6%
- Nyhavn Holding AS · 3.5%
- Baf Holding AS · 3.5%
- Sparebank 1 Smn Invest AS · 3.5%
- Ennimato Invest AS · 2.1%
- 5 private persons · 6.3%
The company is new in the shareholder register in 2025.
The owners' shares do not add up to the company's total number of shares in the source.
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 31 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | – | – | – | |
| Rank | – | – | – | |
| Operating margin | −608.6% | −249.6% | −68.6% | |
| Return on assets | −3.8% | −2.5% | −0.6% | |
| Equity ratio | 90.3% | 79.3% | 81.1% | |
| Current ratio | 0.72 | 0.22 | 0.29 | |
| Revenue growth | – | 76.5% | 0.8% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 0.4 MNOK | 0.8 MNOK | 0.8 MNOK |
| Operating profit | −2.7 MNOK | −1.9 MNOK | −0.5 MNOK |
| Profit before tax | −2.7 MNOK | −2.4 MNOK | −1.3 MNOK |
| Tax expense | 0.0 MNOK | 0.0 MNOK | 0.0 MNOK |
| Net profit | −2.7 MNOK | −2.4 MNOK | −1.3 MNOK |
| Financial expenses | 0.1 MNOK | 0.5 MNOK | 0.8 MNOK |
| Total assets | 68.1 MNOK | 74.6 MNOK | 86.2 MNOK |
| Current assets | 4.8 MNOK | 1.4 MNOK | 3.2 MNOK |
| Equity | 61.5 MNOK | 59.2 MNOK | 69.9 MNOK |
| Retained earnings | – | – | – |
| Total liabilities | 6.6 MNOK | 15.5 MNOK | 16.3 MNOK |
| Current liabilities | 6.6 MNOK | 6.5 MNOK | 11.0 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 31 October 2026, accounts id 7108981.