Hvice 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
83of 100
How to read this: the company is ahead of 97 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 116 of 4,239 · What are Morning company classes?
Place in the whole sector: 162 of 6,735 · Overnatting og servering
Profile
Lion · Leader
High profitability, high resilience
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 88 and resilience 89 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
Hvice AS is 34 points above the median for companies in the Morning class Micro in the same sector in 2025.
Median score 49 among 4,230 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin 20.9% (median 1.6%) and equity ratio 87.2% (median 13.8%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 4 MNOK | 5 MNOK |
| Operating margin | 20.9% | 1.6% |
| Profit margin | −23.4% | 1.2% |
| Return on assets | 29.7% | 5.7% |
| Equity ratio | 87.2% | 13.8% |
| Debt-to-equity | 0.15 | 1.97 |
| Current ratio | 7.60 | 1.01 |
| Revenue growth | 8.8% | 5.7% |
| Revenue per employee | 0.59 MNOK | 0.46 MNOK |
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 83, Hvice AS does better than 97% of companies in the Morning class Micro in the same sector (4,239 companies) in 2025.
Score 2023–2025
- Hvice AS
- Median: companies in the Morning class Micro in the same sector
Hvice AS has a score of 83 for 2025, rank 162 of 6,735 in the sector.
Strongest: Liquidity: percentile 98 against peers, current ratio 7.60 against a median of 1.01. Solidity: percentile 98 against peers, equity ratio 87.2% against a median of 13.8%.
No area is clearly below its peers.
Worth a closer look
- The company made a loss before tax. Are these one-off items or a pattern? Based on: profit margin −23.4% (median 1.2%).
- The change in operating margin in 2025 was 5.1 percentage points better than for comparable companies: the company +4.5, the industry −0.6 points. That is the company's own, not something that hit the whole industry.
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 Hvice AS rose by 4.5 percentage points. Comparable companies fell by a median 0.6 points. So the company did 5.1 points better than the industry, for reasons of its own.
Over 2 year-to-year changes Hvice AS moved the same way as comparable companies 0 times. About 8% 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 | 16.5% | 2.3% | −6.5 percentage points | +0.4 percentage points | −7.0 percentage points |
| 2025 | 20.9% | 1.6% | +4.5 percentage points | −0.6 percentage points | +5.1 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 Hvice 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 Hvice AS rose 4.5 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 | – | – | 23.0% | 16.5% | 20.9% | – |
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 Hvice AS rose 4.5 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 | – | – | 23.0% | 16.5% | 20.9% | – |
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 Hvice AS rose 4.5 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 | – | – | 23.0% | 16.5% | 20.9% | – |
Source: SSB (14710, CC BY 4.0). Source
EUR/NOK (kr)
EUR/NOK rose 0.8% in 2025; the operating margin of Hvice AS rose 4.5 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 | – | – | 23.0% | 16.5% | 20.9% | – |
Source: Norges Bank (EXR, NLOD 2.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Hvice AS rose 4.5 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 | – | – | 23.0% | 16.5% | 20.9% | – |
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 Hvice AS rose 4.5 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 | – | – | 23.0% | 16.5% | 20.9% | – |
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
Hvice AS had an operating margin of 20.9% and an equity ratio of 87.2% in 2025, and ranks 162 of 6,735 in Overnatting og servering.
From 2024 to 2025: went from a profit to a loss before tax and the operating margin rose from 16.5% to 20.9%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 7 MNOK and 16 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 19.8 | 16 MNOK |
| EV/EBIT | 16.2 | 8 MNOK |
| P/B | 3.3 | 7 MNOK |
| EV/EBIT: from enterprise value to equity | NOK |
|---|---|
| Enterprise value (EV) at the listed multiple | 12 MNOK |
| Enterprise value after the size adjustment | 7 MNOK |
| Less net debt (rough figure) | 0 MNOK |
| Equity value | 8 MNOK |
Net debt is a rough figure: long-term liabilities minus cash. The accounts do not split interest-bearing debt from other liabilities, and short-term borrowings are not included. The size adjustment applies to the enterprise value, not to the debt.
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
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −23.4% (median 1.2%).
- positive
Upper quartile on profitability, solidity and liquidity. What sets this company apart from the rest of the sector?
Based on: Operating margin 20.9% (median 1.6%); Equity ratio 87.2% (median 13.8%); Current ratio 7.60 (median 1.01).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 427.9% 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 | 88 | weight 40% |
|---|---|---|
| Solidity | 98 | weight 20% |
| Liquidity | 98 | weight 5% |
| Growth | 64 | weight 25% |
| Consistency | 68 | weight 10% |
Three goals: profitability 40%, growth 25%, resilience 35%. Why these weights?
Durability: 87 (average over 3 years)
Index version 3. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Hvice AS?
The operating margin was 20.9% in 2025, against a median of 1.6% among companies in the Morning class Micro in the same sector. Return on assets was 29.7%. The company made a loss before tax.
How solid is Hvice AS?
The equity ratio was 87.2% in 2025 (median 13.8%). Debt-to-equity was 0.15 (median 1.97).
What is the liquidity of Hvice AS like?
The current ratio was 7.60 in 2025 (median 1.01).
How does Hvice AS compare in Overnatting og servering?
Hvice AS ranks 162 of 6,735 in Overnatting og servering for 2025. Among companies in the Morning class Micro it is number 116 of 4,239. Revenue changed by 8.8% from the year before.
Competitors
The 8 closest competitors in the same line of business, placed in the same matrix as the sector page: profitability up, resilience to the right. These are the companies the competitor analysis and the strategy report compare with.
Each bubble is a company: this company and its closest competitors in the same line of business and size, the same ones the competitor analysis uses. Placement is 0–100 against the whole sector and Morning company class: further right is more robust, higher up is more profitable. Bubble size is revenue. The light bubble and arrow show where the company stood the year before. Pick a profile to see fewer at a time.
| Company | Profile | Operating revenue | Operating margin | Score |
|---|---|---|---|---|
| Saidhodzha AS |  Cheetah |
4 MNOK | 5.7% | 57 |
| Kort og Godt Kafe og Butikk AS |  Beaver |
4 MNOK | −5.7% | 16 |
| Dansken Vertshus AS | Beaver |
4 MNOK | −2.1% | 25 |
| Cafe Smelteverket AS |  Elephant |
4 MNOK | 0.1% | 49 |
| Hvice AS (this company) |  Lion |
4 MNOK | 20.9% | 83 |
| Cardamom AS | Beaver |
4 MNOK | −7.4% | 19 |
| Otaku Diner AS | Beaver |
4 MNOK | −10.2% | 19 |
| Bvh AS | Beaver |
4 MNOK | −5.8% | 28 |
| Sushi Plus AS | Beaver |
4 MNOK | −9.6% | 20 |
The selection is the closest in revenue within the same industry code. When you order, you can swap competitors. Order competitor analysis
From the Central Coordinating Register
- Org. no.
- 922641102
- Legal form
- AS
- Sector
- Overnatting og servering (56.110)
- Morning company class
- Micro
- Employees
- 7 registered 10 October 2026
- Founded
- 12 March 2019 7 years in operation
- Share capital
- 0.03 MNOK
- Business address
- Olaf Ryes plass 3A, 0552 OSLO
- Municipality
- Oslo rank 63–220 of 357 in Norway
- Audit
- Audit opted out from 16 April 2019
- Latest accounts filed
- 2025
- LEI
- 6367005GT8ISI8QYOQ68 not renewed (lapsed)
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.
- Parent company
- No parent company: owned by persons
Source: GLEIF (Global Legal Entity Identifier Foundation), fetched 30 October 2026. The parent is the one the company itself reported to GLEIF.
Shareholders (2025)
- Number of shareholders
- 2
- Largest owner
- 50.0%
- Split
- companies 0% · private persons 100% · foreign 0%
- Owned from the same municipality
- 100%
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 7 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 98 | 81 | 83 | |
| Rank | 4 | 210 | 162 | |
| Operating margin | 23.0% | 16.5% | 20.9% | |
| Return on assets | 87.8% | 57.1% | 29.7% | |
| Equity ratio | 89.4% | 87.7% | 87.2% | |
| Current ratio | 9.11 | 8.00 | 7.60 | |
| Revenue growth | – | 22.4% | 8.8% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 3.1 MNOK | 3.8 MNOK | 4.1 MNOK |
| Operating profit | 0.7 MNOK | 0.6 MNOK | 0.9 MNOK |
| Profit before tax | 2.7 MNOK | 3.0 MNOK | −1.0 MNOK |
| Tax expense | 0.2 MNOK | 0.4 MNOK | 0.3 MNOK |
| Net profit | 2.5 MNOK | 2.6 MNOK | −1.2 MNOK |
| Financial expenses | 0.0 MNOK | 0.0 MNOK | 2.1 MNOK |
| Total assets | 3.1 MNOK | 5.2 MNOK | 3.8 MNOK |
| Current assets | 3.0 MNOK | 5.1 MNOK | 3.7 MNOK |
| Equity | 2.7 MNOK | 4.6 MNOK | 3.4 MNOK |
| Retained earnings | 2.7 MNOK | 4.5 MNOK | 3.3 MNOK |
| Total liabilities | 0.3 MNOK | 0.6 MNOK | 0.5 MNOK |
| Current liabilities | 0.3 MNOK | 0.6 MNOK | 0.5 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 7 November 2026, accounts id 7135439.
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