Solitaire 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
Key facts
Is the company run well?
Five key figures against companies in the Morning class Micro in the same sector. Green is better than most, amber about like the industry and red weaker than most.
- Profitability · operating margin −17.7% Weaker than the industry Industry: 7.8%
- Returns · return on assets 23.6% Better than the industry Industry: 14.1%
- Solidity · equity ratio 73.3% Better than the industry Industry: 43.1%
- Liquidity · current ratio 3.23 Better than the industry Industry: 1.71
- Growth · revenue growth 53.8% Better than the industry Industry: 6.9%
The mark comes from the company's place among comparable companies (percentile): green from 60, amber from 40, red below 40. Negative equity, an operating loss and a current ratio under 1 pull it down regardless. Methodology
Score · fiscal year 2025
59of 100
How to read this: the company is ahead of 67 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 2,464 of 7,473 · What are Morning company classes?
Place in the whole sector: 3,271 of 10,060 · Teknisk tjenesteyting og forskning
Profile
Elephant · Steward
Lower profitability, high resilience
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 36 and resilience 66 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
Solitaire AS is 8 points above the median for companies in the Morning class Micro in the same sector in 2025.
Median score 51 among 7,469 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin −17.7% (median 7.8%) and equity ratio 73.3% (median 43.1%).
How it has gone · 2023–2025
Revenue is about the same: 1.2 MNOK in 2025 against 1.1 MNOK in 2023. The operating margin rose from −20.6% in 2023 to −17.7% in 2025. The equity ratio is about the same: 73.3% in 2025 against 72.4% in 2023.
Amounts in the reporting currency. The full year-by-year table is further down under «Details». See every figure year by year
Accounts in short
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 1.1 MNOK | 0.8 MNOK | 1.2 MNOK |
| Operating profit | −0.2 MNOK | −0.4 MNOK | −0.2 MNOK |
| Net profit | 0.4 MNOK | −0.2 MNOK | 0.2 MNOK |
| Total assets | 0.9 MNOK | 0.6 MNOK | 0.9 MNOK |
| Equity | 0.7 MNOK | 0.4 MNOK | 0.6 MNOK |
| Total liabilities | 0.3 MNOK | 0.2 MNOK | 0.2 MNOK |
From the Brønnøysund Register Centre, in the company's reporting currency (NOK). See every figure year by year
From the Central Coordinating Register
- Org. no.
- 922858837
- Legal form
- AS
- Sector
- Teknisk tjenesteyting og forskning (73.110)
- Purpose
- Konsulentvirksomhet og investering i aksjer og andre aktiva, inkludert eiendom.
- Morning company class
- Micro
- Employees
- 0–4 (not registered) Payroll costs in the accounts: 1.1 MNOK (2025).
- Founded
- 10 May 2019 7 years in operation
- Share capital
- 0.03 MNOK
- Business address
- c/o Thor Bekkavik, Dronning Ingeborgs vei 2, 3530 RØYSE (HOLE)
- Municipality
- Hole rank 2 of 40 in KOSTRA group 1
- Audit
- Audit opted out from 6 June 2019
- Latest accounts filed
- 2025
- VAT registered
- Yes
- LEI
- 549300IGSUYZVD18Q131 renews 21 September 2027
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
Solitaire AS has a score of 59 for 2025, rank 3,271 of 10,060 in the sector.
Strongest: Growth: percentile 87 against peers, revenue growth 53.8% against a median of 6.9%. Solidity: percentile 78 against peers, equity ratio 73.3% against a median of 43.1%.
Weakest: Consistency: percentile 35 against peers. Profitability: percentile 36 against peers, operating margin −17.7% against a median of 7.8%.
Worth a closer look
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin −17.7% (median 7.8%).
- What lies behind weak consistency, and will it last?
- What lies behind weak profitability, and will it last?
- The change in operating margin in 2025 was 41.5 percentage points better than for comparable companies: the company +41.3, the industry −0.2 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
Worth a closer look
- 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 −17.7% (median 7.8%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 0.1% 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 10 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 36 | weight 40% |
|---|---|---|
| Solidity | 78 | weight 20% |
| Liquidity | 77 | weight 5% |
| Growth | 87 | weight 25% |
| Consistency | 35 | weight 10% |
Three goals: profitability 40%, growth 25%, resilience 35%. Why these weights?
Durability: 60 (average over 2 years)
Index version 3. Data completeness 100%: the share of the weights that had data.
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 1 MNOK | 2 MNOK |
| Operating margin | −17.7% | 7.8% |
| Profit margin | 17.4% | 7.8% |
| Return on assets | 23.6% | 14.1% |
| Equity ratio | 73.3% | 43.1% |
| Debt-to-equity | 0.36 | 1.04 |
| Current ratio | 3.23 | 1.71 |
| Revenue growth | 53.8% | 6.9% |
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 59, Solitaire AS does better than 67% of companies in the Morning class Micro in the same sector (7,473 companies) in 2025.
Score 2023–2025
- Solitaire AS
- Median: companies in the Morning class Micro 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. |
39 days | 44 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 | 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. |
−6.3% | −7.1% | |
| Cash share of current assets How much of the short-term buffer is bank deposits and cash. |
80.5% | 57.8% | |
| 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. |
−713.8 | 14.8 | |
| 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. |
0.1% | 0.6% | |
| Long-term share of debt Long-term debt as a share of all debt. A low share means more falls due within a year. |
13.4% | 2.3% | |
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): −0.1 MNOK.
Of the financial costs of 0.0 MNOK, 0.0 MNOK is reported as interest costs in the accounts.
The median and the bar refer to companies in the Morning class Micro 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 2025 the operating margin of Solitaire AS rose by 41.3 percentage points. Comparable companies fell by a median 0.2 points. So the company did 41.5 points better than the industry, for reasons of its own.
Over 2 year-to-year changes Solitaire AS moved the same way as comparable companies 1 times. About 1% 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 | −59.1% | 8.0% | −38.4 percentage points | −0.5 percentage points | −38.0 percentage points |
| 2025 | −17.7% | 7.8% | +41.3 percentage points | −0.2 percentage points | +41.5 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 Solitaire 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 Solitaire AS rose 41.3 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 | – | – | −20.6% | −59.1% | −17.7% | – |
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 Solitaire AS rose 41.3 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 | – | – | −20.6% | −59.1% | −17.7% | – |
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 rose 6.2% in 2025; the operating margin of Solitaire AS rose 41.3 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 | – | – | −20.6% | −59.1% | −17.7% | – |
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 Solitaire AS rose 41.3 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 | – | – | −20.6% | −59.1% | −17.7% | – |
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 17.6% in 2025; the operating margin of Solitaire AS rose 41.3 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 | – | – | −20.6% | −59.1% | −17.7% | – |
Source: SSB (08799, CC BY 4.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Solitaire AS rose 41.3 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 | – | – | −20.6% | −59.1% | −17.7% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
EUR/NOK (kr)
EUR/NOK rose 0.8% in 2025; the operating margin of Solitaire AS rose 41.3 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 | – | – | −20.6% | −59.1% | −17.7% | – |
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 Solitaire AS rose 41.3 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 | – | – | −20.6% | −59.1% | −17.7% | – |
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
Solitaire AS had an operating margin of −17.7% and an equity ratio of 73.3% in 2025, and ranks 3,271 of 10,060 in Teknisk tjenesteyting og forskning.
From 2024 to 2025: the operating margin rose from −59.1% to −17.7% and went from a loss to a profit before tax.
This text is generated automatically from the 2025 accounts.
Three simple methods
Suggested price: about 2 MNOK
The mean of the 2 methods below (P/E, EV/EBIT and P/B with listed multiples and a size adjustment), rounded to two significant figures. It is a calculation, not a bid or a valuation. Fewer than three methods gave a figure, so the mean is weaker than it looks.
That is about 60.00 NOK per share, on 30,000 shares in the shareholder register.
The methods give between 2 MNOK and 2 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 22.4 | 2 MNOK |
| EV/EBIT | 17.4 | not meaningful |
| P/B | 4.1 | 2 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 (73): Business & Consumer Services.
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
Figures you will not find in any register
We calculated these figures ourselves from the accounts and registers we have read. The company has not reported them and the Brønnøysund Register Centre does not publish them. They are indications and are not part of the index. How we calculate
- Equity paid out or paid in
- Equity moved as the result implied in 2025.
Over 2 years it equals 184% of the sum of the results.
Calculated as equity at the start of the year + net result − equity at the end of the year. What remains is dividends and group contributions, less new capital, plus other entries made directly to equity. It is not a dividend figure. - Owners and leadership aged 60 or older
- No sign of a near generation change in the ages.
- The chair is under 60.
- 1 of 5 on the board are 60 or older.
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
Questions and answers
How profitable is Solitaire AS?
The operating margin was −17.7% in 2025, against a median of 7.8% among companies in the Morning class Micro in the same sector. Return on assets was 23.6%.
How solid is Solitaire AS?
The equity ratio was 73.3% in 2025 (median 43.1%). Debt-to-equity was 0.36 (median 1.04).
What is the liquidity of Solitaire AS like?
The current ratio was 3.23 in 2025 (median 1.71).
How does Solitaire AS compare in Teknisk tjenesteyting og forskning?
Solitaire AS ranks 3,271 of 10,060 in Teknisk tjenesteyting og forskning for 2025. Among companies in the Morning class Micro it is number 2,464 of 7,473. Revenue changed by 53.8% 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 |
|---|---|---|---|---|
| Støre Ventures AS |  Lion |
1 MNOK | 16.8% | 69 |
| Fritz Frem AS |  Elephant |
1 MNOK | 3.1% | 47 |
| Loddo AS |  Beaver |
1 MNOK | −2.7% | 17 |
| Inderøymat AS | Beaver |
1 MNOK | 0.2% | 34 |
| Brandt Gruppen AS | Elephant |
1 MNOK | −28.0% | 35 |
| Solitaire AS (this company) | Elephant |
1 MNOK | −17.7% | 59 |
| DH Consult AS | Lion |
1 MNOK | 17.1% | 59 |
| Silje Norendal AS | Lion |
1 MNOK | 18.9% | 77 |
| Chiyo Agency AS |  Cheetah |
1 MNOK | 7.4% | 44 |
The selection is the closest in revenue within the same industry code. When you order, you can swap competitors. Order competitor analysis
Ownership and roles
Loading roles …
Source: Central Coordinating Register, fetched 3 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
- 1 (one owner)
- Largest owner
- 100.0%
- Split
- companies 0% · private persons 100% · foreign 0%
- Owned from the same municipality
- 100%
- Group chain
- Ultimate owner: private person
The company is new in the shareholder register in 2025.
Holds shares in: GO TO Eleven AS (50%), Ocean Sun AS (0%)
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 9 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 60 | – | 59 | |
| Rank | 3,124 | – | 3,271 | |
| Operating margin | −20.6% | −59.1% | −17.7% | |
| Return on assets | 56.4% | −33.0% | 23.6% | |
| Equity ratio | 72.4% | 64.4% | 73.3% | |
| Current ratio | 2.76 | 1.84 | 3.23 | |
| Revenue growth | – | −34.3% | 53.8% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 1.1 MNOK | 0.8 MNOK | 1.2 MNOK |
| Operating profit | −0.2 MNOK | −0.4 MNOK | −0.2 MNOK |
| Profit before tax | 0.5 MNOK | −0.2 MNOK | 0.2 MNOK |
| Tax expense | 0.0 MNOK | 0.0 MNOK | 0.0 MNOK |
| Net profit | 0.4 MNOK | −0.2 MNOK | 0.2 MNOK |
| Financial expenses | 0.0 MNOK | 0.0 MNOK | 0.0 MNOK |
| Total assets | 0.9 MNOK | 0.6 MNOK | 0.9 MNOK |
| Current assets | 0.7 MNOK | 0.4 MNOK | 0.6 MNOK |
| Equity | 0.7 MNOK | 0.4 MNOK | 0.6 MNOK |
| Retained earnings | – | – | – |
| Total liabilities | 0.3 MNOK | 0.2 MNOK | 0.2 MNOK |
| Current liabilities | 0.3 MNOK | 0.2 MNOK | 0.2 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 9 November 2026, accounts id 6772446.
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