Holtskogen 15 AS
Score · fiscal year 2025
28of 100
How to read this: the company is ahead of 10 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 5,308 of 5,894 · What are Morning company classes?
Place in the whole sector: 7,259 of 7,993 · Eiendom
Profile
Beaver · Builder
Lower profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 48 and solidity 9 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
Holtskogen 15 AS is 21 points below the median for companies in the Morning class Micro in the same sector in 2025.
Median score 49 among 5,893 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin 53.7% (median 46.4%) and equity ratio 2.0% (median 26.6%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 1 MNOK | 3 MNOK |
| Operating margin | 53.7% | 46.4% |
| Profit margin | 5.8% | 22.1% |
| Return on assets | 5.8% | 7.7% |
| Equity ratio | 2.0% | 26.6% |
| Debt-to-equity | 49.00 | 2.21 |
| Current ratio | 0.56 | 1.38 |
| Revenue growth | −9.0% | 3.1% |
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 28, Holtskogen 15 AS does better than 10% of companies in the Morning class Micro in the same sector (5,894 companies) in 2025.
Score 2023–2025
- Holtskogen 15 AS
- Median: companies in the Morning class Micro in the same sector
Holtskogen 15 AS has a score of 28 for 2025, rank 7,259 of 7,993 in the sector.
Strongest: Profitability: percentile 48 against peers, operating margin 53.7% against a median of 46.4%.
Weakest: Solidity: percentile 9 against peers, equity ratio 2.0% against a median of 26.6%. Growth: percentile 14 against peers, revenue growth −9.0% against a median of 3.1%.
Worth a closer look
- The equity ratio is very low. Could the company absorb a bad year, and does it need more equity? Based on: equity ratio 2.0% (median 26.6%).
- Consider strengthening liquidity: current liabilities are 1.8 times current assets. Based on: current ratio 0.56 (median 1.38).
- What lies behind weak solidity, and will it last?
- 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
The industry or the company: what drove the result?
In 2025 the operating margin of Holtskogen 15 AS rose by 8.2 percentage points. Comparable companies rose by a median 1.2 points. So the company did 7.1 points better than the industry, for reasons of its own.
Over 2 year-to-year changes Holtskogen 15 AS moved the same way as comparable companies 1 times. About 6% 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 | 45.5% | 45.2% | +12.0 percentage points | +0.1 percentage points | +11.9 percentage points |
| 2025 | 53.7% | 46.4% | +8.2 percentage points | +1.2 percentage points | +7.1 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 Holtskogen 15 AS. The figures stand side by side; we claim no cause.
House prices (existing homes) (indeks (2015 = 100))
House prices (existing homes) rose 5.5% in 2025; the operating margin of Holtskogen 15 AS rose 8.2 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| House prices (existing homes), annual average | 134.5 | 141.6 | 140.8 | 144.6 | 152.5 | 158.7 (so far) |
| Change from the year before | +10.5% | +5.2% | −0.5% | +2.7% | +5.5% | +4.1% |
| The company's operating margin | – | – | 33.5% | 45.5% | 53.7% | – |
Source: SSB (07221, CC BY 4.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Holtskogen 15 AS rose 8.2 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 | – | – | 33.5% | 45.5% | 53.7% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
Construction cost index for dwellings (indeks (2015 = 100))
Construction cost index for dwellings rose 4.3% in 2025; the operating margin of Holtskogen 15 AS rose 8.2 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Construction cost index for dwellings, annual average | 124.2 | 135.1 | 141.1 | 146.4 | 152.7 | 158.4 (so far) |
| Change from the year before | +8.7% | +8.8% | +4.4% | +3.7% | +4.3% | +3.7% |
| The company's operating margin | – | – | 33.5% | 45.5% | 53.7% | – |
Source: SSB (08651, CC BY 4.0). Source
Consumer price index (indeks (2025 = 100))
Consumer price index rose 3.0% in 2025; the operating margin of Holtskogen 15 AS rose 8.2 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 | – | – | 33.5% | 45.5% | 53.7% | – |
Source: SSB (14710, CC BY 4.0). Source
Wage index: real estate (indeks)
Wage index: real estate rose 5.2% in 2025; the operating margin of Holtskogen 15 AS rose 8.2 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: real estate, annual average | 91.7 | 94.3 | 96.8 | 103.2 | 108.5 | 111.3 (so far) |
| Change from the year before | +5.2% | +2.9% | +2.6% | +6.5% | +5.2% | +2.6% |
| The company's operating margin | – | – | 33.5% | 45.5% | 53.7% | – |
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
Holtskogen 15 AS had an operating margin of 53.7% and an equity ratio of 2.0% in 2025, and ranks 7,259 of 7,993 in Eiendom.
From 2024 to 2025: went from a loss to a profit before tax and the operating margin rose from 45.5% to 53.7%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 0 MNOK and 1 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.6 | not meaningful |
| EV/EBIT | 22.6 | 1 MNOK |
| P/B | 0.9 | 0 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
- watch
The equity ratio is very low. Could the company absorb a bad year, and does it need more equity?
Based on: Equity ratio 2.0% (median 26.6%).
- watch
Consider strengthening liquidity: current liabilities are 1.8 times current assets.
Based on: Current ratio 0.56 (median 1.38).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 5.3% 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.
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 22.6%. Based on the 9 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 48 | weight 30% |
|---|---|---|
| Solidity | 9 | weight 25% |
| Liquidity | 27 | weight 15% |
| Growth | 14 | weight 15% |
| Consistency | 34 | weight 15% |
Durability: 32 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Holtskogen 15 AS?
The operating margin was 53.7% in 2025, against a median of 46.4% among companies in the Morning class Micro in the same sector. Return on assets was 5.8%.
How solid is Holtskogen 15 AS?
The equity ratio was 2.0% in 2025 (median 26.6%). Debt-to-equity was 49.00 (median 2.21).
What is the liquidity of Holtskogen 15 AS like?
The current ratio was 0.56 in 2025 (median 1.38). Current assets did not cover current liabilities.
How does Holtskogen 15 AS compare in Eiendom?
Holtskogen 15 AS ranks 7,259 of 7,993 in Eiendom for 2025. Among companies in the Morning class Micro it is number 5,308 of 5,894. Revenue changed by −9.0% from the year before.
Group structure · 2025
4 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 Dynatec Group AS.
Group accounts. Dynatec Group AS for 2025: index 68 of 100, number 44 of 240 groups. See the group accounts
-
Dynatec Group AS
- Holtskogen 15 AS you are here
- Dynatec AS
- Holtskogen 17 AS
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.
- 915650104
- Legal form
- AS
- Sector
- Eiendom (68.110)
- Morning company class
- Micro
- Employees
- 0–4 (not registered)
- Founded
- 25 June 2015 11 years in operation
- Share capital
- 0.03 MNOK
- Business address
- Rakkestadveien 1, 1814 ASKIM (INDRE ØSTFOLD)
- Municipality
- Indre Østfold rank 8 of 13 in KOSTRA group 10
- Audit
- Audit opted out from 10 July 2015
- 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 2 November 2026. Only names are shown.
Shareholders (2025)
- Number of shareholders
- 1 (one owner)
- Largest owner
- 100.0%
- Split
- companies 100% · private persons 0% · foreign 0%
- Owned from the same municipality
- 100%
- Group chain
-
Owned by: Dynatec Group AS (100%)
Ultimate owner: Dynatec Group AS
- Dynatec Group AS · 100.0%
The company is new in the shareholder register in 2025.
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 | 35 | 33 | 28 | |
| Rank | 5,831 | 6,488 | 7,259 | |
| Operating margin | 33.5% | 45.5% | 53.7% | |
| Return on assets | 2.8% | 5.2% | 5.8% | |
| Equity ratio | 1.9% | 1.4% | 2.0% | |
| Current ratio | 6.45 | 0.31 | 0.56 | |
| Revenue growth | – | 27.8% | −9.0% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 1.2 MNOK | 1.6 MNOK | 1.4 MNOK |
| Operating profit | 0.4 MNOK | 0.7 MNOK | 0.8 MNOK |
| Profit before tax | −0.3 MNOK | 0.0 MNOK | 0.1 MNOK |
| Tax expense | −0.1 MNOK | 0.0 MNOK | 0.0 MNOK |
| Net profit | −0.2 MNOK | 0.0 MNOK | 0.1 MNOK |
| Financial expenses | 0.7 MNOK | 0.7 MNOK | 0.7 MNOK |
| Total assets | 15.0 MNOK | 13.8 MNOK | 13.3 MNOK |
| Current assets | 0.5 MNOK | 0.0 MNOK | 0.0 MNOK |
| Equity | 0.3 MNOK | 0.2 MNOK | 0.3 MNOK |
| Retained earnings | – | – | 0.1 MNOK |
| Total liabilities | 14.8 MNOK | 13.6 MNOK | 13.0 MNOK |
| Current liabilities | 0.1 MNOK | 0.1 MNOK | 0.1 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 31 October 2026, accounts id 6510247.
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