Nitty Gritty 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
47of 100
How to read this: the company is ahead of 43 % of companies in the Morning class Small in the same sector in 2025. What does this mean?
Rank in the Morning class Small: 1,231 of 2,159 · What are Morning company classes?
Place in the whole sector: 3,669 of 6,735 · Overnatting og servering
Profile
Elephant · Steward
Lower profitability, high resilience
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 29 and resilience 64 out of 100 among companies in the Morning class Small in the same sector in 2025. Methodology
Against the sector
Nitty Gritty AS is 4 points below the median for companies in the Morning class Small in the same sector in 2025.
Median score 51 among 2,159 companies.
Against companies in the Morning class Small in the same sector in 2025: operating margin 0.9% (median 5.0%) and equity ratio 38.8% (median 19.4%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 12 MNOK | 16 MNOK |
| Operating margin | 0.9% | 5.0% |
| Profit margin | 0.6% | 4.7% |
| Return on assets | 3.4% | 14.4% |
| Equity ratio | 38.8% | 19.4% |
| Debt-to-equity | 1.58 | 2.95 |
| Current ratio | 1.52 | 1.04 |
| Revenue growth | 9.1% | 5.7% |
| Revenue per employee | 0.65 MNOK | 0.73 MNOK |
The median and “ahead of” refer to companies in the Morning class Small in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 47, Nitty Gritty AS does better than 43% of companies in the Morning class Small in the same sector (2,159 companies) in 2025.
Score 2023–2025
- Nitty Gritty AS
- Median: companies in the Morning class Small in the same sector
Nitty Gritty AS has a score of 47 for 2025, rank 3,669 of 6,735 in the sector.
Strongest: Liquidity: percentile 75 against peers, current ratio 1.52 against a median of 1.04. Solidity: percentile 71 against peers, equity ratio 38.8% against a median of 19.4%.
Weakest: Profitability: percentile 29 against peers, operating margin 0.9% against a median of 5.0%.
Worth a closer look
- 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
The industry or the company: what drove the result?
In 2025 the operating margin of Nitty Gritty AS fell by 0.3 percentage points. Comparable companies rose by a median 0.2 points. So the company did 0.5 points weaker than the industry, for reasons of its own.
Over 2 year-to-year changes Nitty Gritty AS moved the same way as comparable companies 1 times. About 39% 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 | 1.2% | 4.9% | +7.6 percentage points | +3.1 percentage points | +4.5 percentage points |
| 2025 | 0.9% | 5.0% | −0.3 percentage points | +0.2 percentage points | −0.5 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 Nitty Gritty AS. The figures stand side by side; we claim no cause.
Service prices: accommodation and food (indeks (2021 = 100))
Service prices: accommodation and food rose 3.6% in 2025; the operating margin of Nitty Gritty AS fell 0.3 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Service prices: accommodation and food, annual average | 100.0 | 107.9 | 114.0 | 118.8 | 123.1 | 126.9 (so far) |
| Change from the year before | – | +7.9% | +5.7% | +4.1% | +3.6% | +3.1% |
| The company's operating margin | – | – | −6.4% | 1.2% | 0.9% | – |
Source: SSB (14335, CC BY 4.0). Source
Turnover index: accommodation and food service (indeks (2021 = 100))
Turnover index: accommodation and food service rose 2.3% in 2025; the operating margin of Nitty Gritty AS fell 0.3 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Turnover index: accommodation and food service, annual average | 97.0 | 139.7 | 153.5 | 157.8 | 161.5 | 170.4 (so far) |
| Change from the year before | +23.4% | +44.1% | +9.9% | +2.8% | +2.3% | +5.5% |
| The company's operating margin | – | – | −6.4% | 1.2% | 0.9% | – |
Source: SSB (13863, CC BY 4.0). Source
Consumer price index (indeks (2025 = 100))
Consumer price index rose 3.0% in 2025; the operating margin of Nitty Gritty AS fell 0.3 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 | – | – | −6.4% | 1.2% | 0.9% | – |
Source: SSB (14710, CC BY 4.0). Source
EUR/NOK (kr)
EUR/NOK rose 0.8% in 2025; the operating margin of Nitty Gritty AS fell 0.3 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 | – | – | −6.4% | 1.2% | 0.9% | – |
Source: Norges Bank (EXR, NLOD 2.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Nitty Gritty AS fell 0.3 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 | – | – | −6.4% | 1.2% | 0.9% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
Wage index: food and beverage service (indeks)
Wage index: food and beverage service rose 6.5% in 2025; the operating margin of Nitty Gritty AS fell 0.3 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: food and beverage service, annual average | 88.0 | 91.3 | 96.4 | 101.5 | 108.1 | 110.6 (so far) |
| Change from the year before | +3.5% | +3.8% | +5.6% | +5.4% | +6.5% | +2.3% |
| The company's operating margin | – | – | −6.4% | 1.2% | 0.9% | – |
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
Nitty Gritty AS had an operating margin of 0.9% and an equity ratio of 38.8% in 2025, and ranks 3,669 of 6,735 in Overnatting og servering.
No large changes in the key figures from 2024 to 2025.
This text is generated automatically from the 2025 accounts.
Three simple methods
One method gives a figure: 4 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 19.8 | not meaningful |
| EV/EBIT | 16.2 | not meaningful |
| P/B | 3.3 | 4 MNOK |
The listed basis is the value at listed multiples. The estimate is lowered for size: a small-company premium of 4% on the cost of equity gives a value 38% lower. No separate marketability discount is applied, because the premium already allows for the company being small and unlisted.
The multiples are from the listed industry that matches the NACE code (56): Restaurant/Dining.
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
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 3.0% 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 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 | 29 | weight 40% |
|---|---|---|
| Solidity | 71 | weight 20% |
| Liquidity | 75 | weight 5% |
| Growth | 53 | weight 25% |
| Consistency | 46 | weight 10% |
Three goals: profitability 40%, growth 25%, resilience 35%. Why these weights?
Durability: 47 (average over 3 years)
Index version 3. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Nitty Gritty AS?
The operating margin was 0.9% in 2025, against a median of 5.0% among companies in the Morning class Small in the same sector. Return on assets was 3.4%.
How solid is Nitty Gritty AS?
The equity ratio was 38.8% in 2025 (median 19.4%). Debt-to-equity was 1.58 (median 2.95).
What is the liquidity of Nitty Gritty AS like?
The current ratio was 1.52 in 2025 (median 1.04).
How does Nitty Gritty AS compare in Overnatting og servering?
Nitty Gritty AS ranks 3,669 of 6,735 in Overnatting og servering for 2025. Among companies in the Morning class Small it is number 1,231 of 2,159. Revenue changed by 9.1% 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 Bapp Holding AS.
Bapp 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
- Overnatting og servering (3 companies), Eiendom (1 company) 4 of 4 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
- 41 in all. Tromsø 41 Registered employees in the Central Coordinating Register, by the municipality of the business address. Employees may work elsewhere.
-
Bapp Holding AS
- Nitty Gritty AS you are here
- Casa Inferno AS
- Bapp Eiendom 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.
- 920659675
- Legal form
- AS
- Sector
- Overnatting og servering (56.110)
- Morning company class
- Small
- Employees
- 19 registered 10 October 2026
- Founded
- 6 March 2018 8 years in operation
- Share capital
- 1.23 MNOK
- Business address
- Storgata 93A, 9008 TROMSØ
- Municipality
- Tromsø rank 9 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
- 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: Bapp Holding AS (100%)
Ultimate owner: Bapp Holding AS
- Bapp Holding 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 5 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 37 | 56 | 47 | |
| Rank | 3,851 | 2,496 | 3,669 | |
| Operating margin | −6.4% | 1.2% | 0.9% | |
| Return on assets | −10.2% | 4.1% | 3.4% | |
| Equity ratio | 29.4% | 37.4% | 38.8% | |
| Current ratio | 2.24 | 1.93 | 1.52 | |
| Revenue growth | – | 23.2% | 9.1% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 9.2 MNOK | 11.3 MNOK | 12.4 MNOK |
| Operating profit | −0.6 MNOK | 0.1 MNOK | 0.1 MNOK |
| Profit before tax | −0.7 MNOK | 0.1 MNOK | 0.1 MNOK |
| Tax expense | 0.0 MNOK | 0.0 MNOK | 0.0 MNOK |
| Net profit | −0.7 MNOK | 0.1 MNOK | 0.1 MNOK |
| Financial expenses | 0.1 MNOK | 0.1 MNOK | 0.1 MNOK |
| Total assets | 5.7 MNOK | 4.7 MNOK | 4.7 MNOK |
| Current assets | 3.8 MNOK | 3.3 MNOK | 2.7 MNOK |
| Equity | 1.7 MNOK | 1.8 MNOK | 1.8 MNOK |
| Retained earnings | – | 0.1 MNOK | 0.2 MNOK |
| Total liabilities | 4.0 MNOK | 2.9 MNOK | 2.9 MNOK |
| Current liabilities | 1.7 MNOK | 1.7 MNOK | 1.8 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 5 November 2026, accounts id 6546519.
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