LIMÓN AS
Score · fiscal year 2025
62of 100
How to read this: the company is ahead of 71 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 1,042 of 3,541 · What are Morning company classes?
Place in the whole sector: 1,708 of 5,998 · Overnatting og servering
Profile
Lion · Leader
High profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 56 and solidity 77 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
LIMÓN AS is 13 points above the median for companies in the Morning class Micro in the same sector in 2025.
Median score 49 among 3,534 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin 3.9% (median 1.5%) and equity ratio 51.3% (median 13.1%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 5 MNOK | 5 MNOK |
| Operating margin | 3.9% | 1.5% |
| Profit margin | 1.7% | 1.1% |
| Return on assets | 5.8% | 5.5% |
| Equity ratio | 51.3% | 13.1% |
| Debt-to-equity | 0.95 | 2.02 |
| Current ratio | 1.43 | 1.01 |
| Revenue growth | 5.4% | 5.7% |
| Revenue per employee | 0.51 MNOK | 0.44 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 62, LIMÓN AS does better than 71% of companies in the Morning class Micro in the same sector (3,541 companies) in 2025.
Score 2023–2025
- LIMÓN AS
- Median: companies in the Morning class Micro in the same sector
LIMÓN AS has a score of 62 for 2025, rank 1,708 of 5,998 in the sector.
Strongest: Solidity: percentile 77 against peers, equity ratio 51.3% against a median of 13.1%. Liquidity: percentile 69 against peers, current ratio 1.43 against a median of 1.01.
No area is clearly below its peers.
Worth a closer look
- The change in operating margin in 2025 was 7.1 percentage points better than for comparable companies: the company +6.4, the industry −0.8 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 LIMÓN AS rose by 6.4 percentage points. Comparable companies fell by a median 0.8 points. So the company did 7.1 points better than the industry, for reasons of its own.
Over 2 year-to-year changes LIMÓN AS moved the same way as comparable companies 0 times. About 13% 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 | −2.5% | 2.3% | −0.9 percentage points | +0.5 percentage points | −1.4 percentage points |
| 2025 | 3.9% | 1.5% | +6.4 percentage points | −0.8 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 LIMÓN 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 LIMÓN AS rose 6.4 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 | – | – | −1.6% | −2.5% | 3.9% | – |
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 LIMÓN AS rose 6.4 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 | – | – | −1.6% | −2.5% | 3.9% | – |
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 LIMÓN AS rose 6.4 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 | – | – | −1.6% | −2.5% | 3.9% | – |
Source: SSB (14710, CC BY 4.0). Source
EUR/NOK (kr)
EUR/NOK rose 0.8% in 2025; the operating margin of LIMÓN AS rose 6.4 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 | – | – | −1.6% | −2.5% | 3.9% | – |
Source: Norges Bank (EXR, NLOD 2.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of LIMÓN AS rose 6.4 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 | – | – | −1.6% | −2.5% | 3.9% | – |
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 LIMÓN AS rose 6.4 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 | – | – | −1.6% | −2.5% | 3.9% | – |
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
LIMÓN AS had an operating margin of 3.9% and an equity ratio of 51.3% in 2025, and ranks 1,708 of 5,998 in Overnatting og servering.
From 2024 to 2025: went from a loss to a profit before tax and the operating margin rose from −2.5% to 3.9%.
This text is generated automatically from the 2025 accounts.
Three simple methods
One method gives a figure: 3 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 17.4 | not meaningful |
| EV/EBIT | 15.5 | not meaningful |
| P/B | 3.5 | 3 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
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 6.7% 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
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 1.3%. 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 | 56 | weight 30% |
|---|---|---|
| Solidity | 77 | weight 25% |
| Liquidity | 69 | weight 15% |
| Growth | 49 | weight 15% |
| Consistency | 52 | weight 15% |
Durability: 53 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is LIMÓN AS?
The operating margin was 3.9% in 2025, against a median of 1.5% among companies in the Morning class Micro in the same sector. Return on assets was 5.8%.
How solid is LIMÓN AS?
The equity ratio was 51.3% in 2025 (median 13.1%). Debt-to-equity was 0.95 (median 2.02).
What is the liquidity of LIMÓN AS like?
The current ratio was 1.43 in 2025 (median 1.01).
How does LIMÓN AS compare in Overnatting og servering?
LIMÓN AS ranks 1,708 of 5,998 in Overnatting og servering for 2025. Among companies in the Morning class Micro it is number 1,042 of 3,541. Revenue changed by 5.4% from the year before.
Group structure · 2025
19 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 Arta Holding AS.
Group accounts. Arta Holding AS for 2025: index 85 of 100, number 1 of 19 groups. See the group accounts
The group in figures
- Sectors
- Overnatting og servering (4 companies), Revisjon, regnskap og rådgivning (2 companies), Eiendom (1 company), Handel (2 companies) 9 of 19 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
- 58 in all. Oslo 47, Sola 6, Stavanger 5 Registered employees in the Central Coordinating Register, by the municipality of the business address. Employees may work elsewhere.
- Negative equity
- 3 companies: Paleet Food Hall AS, Ardan AS, Limón Byporten AS
- Loss
- 5 companies: Paleet Food Hall AS, Ardan AS, Mano Franchise AS, Heroes AS, Sea Qiq AS
- Changed 2024–2025
- 1 company joined the group: Jzc AS. 6 companies left, among them: Fudi AS, Fudi Asker AS, Fudi Handel AS, Fudi Røa 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.
-
Arta Holding AS
-
Artapluss AS
-
Limón AS you are here
- Ardan AS
-
Org. no. 929262433
- Org. no. 930065005
- Heroes AS
- Konsept TT AS
- Mano P7 AS
- Norsk Datasikkerhet AS
- Sea Qiq AS
-
- JZ Eiendom AS
- Infotronics AS
- Jzc 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.
- 923035702
- Legal form
- AS
- Sector
- Overnatting og servering (56.110)
- Morning company class
- Micro
- Employees
- 9 registered 10 July 2026
- Founded
- 27 May 2019 7 years in operation
- Share capital
- 0.11 MNOK
- Business address
- Hegdehaugsveien 27A, 0352 OSLO
- Municipality
- Oslo rank 63–220 of 357 in Norway
- Audit
- Audit opted out from 10 September 2019
- 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
- 11 (one owner holds more than half)
- Largest owner
- 50.1% · top three 84.5%
- Split
- companies 99% · private persons 1% · foreign 0%
- Owned from the same municipality
- 1%
- Group chain
-
Owned by: Artapluss AS (50%)
Ultimate owner: Arta Holding AS
The owner: the majority owner Artapluss AS (holds 50%) had negative equity in 2025. 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.
- Artapluss AS · 50.1%
- Sergio Capile AS · 21.5%
- Ohmega Holding AS · 12.8%
- Seagrow AS · 11.1%
- Naive Melody AS · 2.3%
- Great Ventures AS · 0.4%
- Psk Invest AS · 0.2%
- Ema-Invest AS · 0.1%
- Aanesrud Holding AS · 0.1%
- 2 private persons · 1.4%
The company is new in the shareholder register in 2025.
Majority owner of: LIMÓN Byporten AS (100%)
Holds shares in: LIMÓN Byporten AS (100%)
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 6 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 57 | 41 | 62 | |
| Rank | 1,921 | 3,571 | 1,708 | |
| Operating margin | −1.6% | −2.5% | 3.9% | |
| Return on assets | −1.8% | −3.2% | 5.8% | |
| Equity ratio | 44.9% | 46.1% | 51.3% | |
| Current ratio | 1.70 | 0.90 | 1.43 | |
| Revenue growth | – | −5.3% | 5.4% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 4.6 MNOK | 4.4 MNOK | 4.6 MNOK |
| Operating profit | −0.1 MNOK | −0.1 MNOK | 0.2 MNOK |
| Profit before tax | −2.5 MNOK | −0.2 MNOK | 0.1 MNOK |
| Tax expense | −0.6 MNOK | −0.1 MNOK | 0.0 MNOK |
| Net profit | −2.0 MNOK | −0.2 MNOK | 0.1 MNOK |
| Financial expenses | 2.5 MNOK | 0.1 MNOK | 0.1 MNOK |
| Total assets | 3.8 MNOK | 3.3 MNOK | 3.1 MNOK |
| Current assets | 1.1 MNOK | 0.5 MNOK | 0.7 MNOK |
| Equity | 1.7 MNOK | 1.5 MNOK | 1.6 MNOK |
| Retained earnings | – | – | 0.1 MNOK |
| Total liabilities | 2.1 MNOK | 1.8 MNOK | 1.5 MNOK |
| Current liabilities | 0.7 MNOK | 0.6 MNOK | 0.5 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 6 November 2026, accounts id 6842072.
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