Gexcon Certification AS
Not financial advice. The index, rank, signals and advice are rule-based indications from the latest filed annual accounts. They are not a credit rating, an assessment of management or a recommendation to buy, sell or do business with the company. Read more
Score · fiscal year 2025
Not enough data: Revenue not reported
Based on the annual accounts for 2025
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 0 MNOK | 3 MNOK |
| Operating margin | – | 6.9% |
| Profit margin | – | 6.9% |
| Return on assets | −5.4% | 13.9% |
| Equity ratio | −162.7% | 39.8% |
| Debt-to-equity | – | 1.23 |
| Current ratio | 0.39 | 1.60 |
| Revenue growth | – | 7.5% |
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 2023–2025
- Gexcon Certification AS
- Median: companies in the same sector
Working capital and debt
| Measure | Company | Median | |
|---|---|---|---|
| Working capital | |||
| Receivable days All current receivables, including those on group companies, in days of revenue. |
– | 51 days | |
| Inventory and other current assets, days Current assets other than receivables and bank deposits, that is inventory and short-term investments, in days of revenue. |
– | 0 days | |
| Net working capital to revenue Current assets less bank deposits less current liabilities, divided by revenue. Negative: short-term debt funds the operations. |
– | −6.2% | |
| Cash share of current assets How much of the short-term buffer is bank deposits and cash. |
0.1% | 51.6% | |
| Debt and interest burden | |||
| Interest coverage (times) Operating result divided by all financial costs. Below 1: operations do not cover the cost of the debt. |
−3.6 | 13.8 | |
| Financial costs as a share of debt All financial costs (interest, currency losses and other) divided by all debt, interest-free debt included. Not an interest rate. |
0.7% | 0.7% | |
| Long-term share of debt Long-term debt as a share of all debt. A low share means more falls due within a year. |
1.4% | 4.6% | |
The operating result is negative, so the interest coverage is negative: operations cover none of the financial costs.
Net working capital (current assets less bank deposits less current liabilities): −5.3 MNOK.
The median and the bar refer to companies in the same sector in 2025. The bar shows the share of the group with a lower figure: higher is not always better, long receivable days tie up capital, for example. These figures do not count in the score.
The industry or the company: what drove the result?
In 2024 the operating margin of Gexcon Certification AS rose by 20.1 percentage points. Comparable companies fell by a median 0.5 points. So the company did 20.5 points better than the industry, for reasons of its own.
| Year | The company | Comparable (median) | Change, company | Change, industry | The company's own |
|---|---|---|---|---|---|
| 2024 | −87.7% | 8.0% | +20.1 percentage points | −0.5 percentage points | +20.5 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 Gexcon Certification 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 14.5% in 2024; the operating margin of Gexcon Certification AS rose 20.1 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 | – | – | −107.7% | −87.7% | – | – |
Source: SSB (13863, CC BY 4.0). Source
Turnover index: advertising and market research (indeks (2021 = 100))
Turnover index: advertising and market research fell 1.3% in 2024; the operating margin of Gexcon Certification AS rose 20.1 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 | – | – | −107.7% | −87.7% | – | – |
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 fell 6.0% in 2024; the operating margin of Gexcon Certification AS rose 20.1 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 | – | – | −107.7% | −87.7% | – | – |
Source: SSB (13863, CC BY 4.0). Source
Service prices: architects and engineering (indeks (2021 = 100))
Service prices: architects and engineering rose 3.4% in 2024; the operating margin of Gexcon Certification AS rose 20.1 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 | – | – | −107.7% | −87.7% | – | – |
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 2.0% in 2024; the operating margin of Gexcon Certification AS rose 20.1 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 | – | – | −107.7% | −87.7% | – | – |
Source: SSB (08799, CC BY 4.0). Source
Policy rate (prosent)
Policy rate rose 0.96 percentage points in 2024; the operating margin of Gexcon Certification AS rose 20.1 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 | – | – | −107.7% | −87.7% | – | – |
Source: Norges Bank (IR, NLOD 2.0). Source
EUR/NOK (kr)
EUR/NOK rose 1.8% in 2024; the operating margin of Gexcon Certification AS rose 20.1 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 | – | – | −107.7% | −87.7% | – | – |
Source: Norges Bank (EXR, NLOD 2.0). Source
Wage index: architects and engineering (indeks)
Wage index: architects and engineering rose 5.2% in 2024; the operating margin of Gexcon Certification AS rose 20.1 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 | – | – | −107.7% | −87.7% | – | – |
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
Gexcon Certification AS had an equity ratio of −162.7% in 2025. The company is not ranked: revenue not reported.
From 2024 to 2025: the equity ratio fell from −133.7% to −162.7%.
This text is generated automatically from the 2025 accounts.
Three simple methods
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 14.9 | not meaningful |
| EV/EBIT | 14.3 | not meaningful |
| P/B | 2.3 | not meaningful |
The multiples are from the listed industry that matches the NACE code (71.1): Engineering/Construction.
Not financial advice. The value range is a rough model estimate from listed-company multiples, not a valuation, a price target or a price offer. The actual value may differ greatly. Read more
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
Equity is negative. How will it be rebuilt, and what do lenders and the auditor say about going concern?
Based on: Equity ratio −162.7% (median 39.8%).
- critical
Consider strengthening liquidity: current liabilities are 2.6 times current assets.
Based on: Current ratio 0.39 (median 1.60).
- critical
The operating result does not cover the financial costs. How will the debt be serviced, and what do the lenders say?
Based on: Interest coverage (times) −3.6 (median 13.8); Financial costs as a share of debt 0.7% (median 0.7%).
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin – (median 6.9%).
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
- critical Negative equity
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 10 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
Questions and answers
How profitable is Gexcon Certification AS?
The operating margin was – in 2025, against a median of 6.9% among companies in the same sector. Return on assets was −5.4%. The company made a loss before tax.
How solid is Gexcon Certification AS?
The equity ratio was −162.7% in 2025 (median 39.8%). Equity is negative, so liabilities exceed assets.
What is the liquidity of Gexcon Certification AS like?
The current ratio was 0.39 in 2025 (median 1.60). Current assets did not cover current liabilities.
Group structure · 2025
5 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 Blast Holding AS.
Blast Holding AS has not filed group accounts in open data, so the group has no index of its own. Each company has its own accounts.
The group in figures
- Sectors
- Teknisk tjenesteyting og forskning (5 companies) 5 of 5 companies in the tree have accounts with us. Sectors are sorted by the companies' own revenue, which includes sales between the group's companies.
- Employees in Norway
- 64 in all. Bergen 64 Registered employees in the Central Coordinating Register, by the municipality of the business address. Employees may work elsewhere.
- Negative equity
- 1 company: Gexcon Certification AS
- Loss
- 3 companies: Gexcon Solutions AS, Blast Midco AS, Gexcon Certification AS
- Changed 2024–2025
- 1 company joined the group: Gexcon Solutions AS.
A subsidiary with negative equity or a loss may be backed by the group, for example with group contributions or guarantees. It is an indication of what is worth asking about, not an assessment.
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Blast Holding AS
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Blast Midco AS
-
Gexcon Solutions AS
- Gexcon Certification AS you are here
- Gexcon AS
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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.
- 919147555
- Legal form
- AS
- Sector
- Teknisk tjenesteyting og forskning (71.129)
- Employees
- 0–4 (not registered)
- Founded
- 28 April 2017 9 years in operation
- Share capital
- 1.10 MNOK
- Business address
- Kanalveien 105A, 5068 BERGEN
- Municipality
- Bergen rank 8 of 11 in KOSTRA group 12
- Audit
- Audit opted out from 23 December 2021
- 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 3 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: Gexcon Solutions AS (100%)
Ultimate owner: Blast Holding AS
The owner: the majority owner Gexcon Solutions AS (holds 100%) made a loss in 2025. A weak parent can affect the subsidiary through group contributions, loans and guarantees. It is an indication to watch, not an assessment of the company.
- Gexcon Solutions 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.
Is this your company? Suggest changes or add information
Figures last fetched 8 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 3 | 23 | – | |
| Rank | 8,947 | 8,599 | – | |
| Operating margin | −107.7% | −87.7% | – | |
| Return on assets | −74.6% | −80.0% | −5.4% | |
| Equity ratio | −80.3% | −133.7% | −162.7% | |
| Current ratio | 0.55 | 0.43 | 0.39 | |
| Revenue growth | – | 51.9% | – |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 2.4 MAED | 3.7 MAED | −0.1 MNOK |
| Operating profit | −2.6 MAED | −3.2 MAED | −0.2 MNOK |
| Profit before tax | −2.6 MAED | −3.3 MAED | −0.2 MNOK |
| Tax expense | −0.2 MAED | −0.2 MAED | 0.0 MNOK |
| Net profit | −2.4 MAED | −3.1 MAED | −0.2 MNOK |
| Financial expenses | 0.0 MAED | 0.2 MAED | 0.1 MNOK |
| Total assets | 3.4 MAED | 3.9 MAED | 3.3 MNOK |
| Current assets | 3.4 MAED | 3.9 MAED | 3.3 MNOK |
| Equity | −2.8 MAED | −5.2 MAED | −5.4 MNOK |
| Retained earnings | −3.9 MAED | −6.3 MAED | −6.5 MNOK |
| Total liabilities | 6.2 MAED | 9.1 MAED | 8.8 MNOK |
| Current liabilities | 6.2 MAED | 9.1 MAED | 8.7 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 8 November 2026, accounts id 7013712.