NORSAN AS
Score · fiscal year 2025
37of 100
How to read this: the company is ahead of 28 % of small companies in the same sector in 2025. What does this mean?
Rank: 28,252 of 38,671 · Handel
Profile
Beaver · Builder
Lower profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 7 and solidity 15 out of 100 among small companies in the same sector in 2025. Methodology
Against the sector
NORSAN AS is 13 points below the median for small companies in the same sector in 2025.
Median score 50 among 36,111 companies.
Against small companies in the same sector in 2025: operating margin −165.7% (median 2.5%) and equity ratio 5.8% (median 38.3%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 1 MNOK | 3 MNOK |
| Operating margin | −165.7% | 2.5% |
| Profit margin | −170.5% | 2.2% |
| Return on assets | −45.3% | 4.0% |
| Equity ratio | 5.8% | 38.3% |
| Debt-to-equity | 16.34 | 0.99 |
| Current ratio | 3.20 | 1.70 |
| Revenue growth | 71.8% | 3.5% |
The median and “ahead of” refer to small companies in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 37, NORSAN AS does better than 28% of small companies in the same sector (36,580 companies) in 2025.
Score 2023–2025
- NORSAN AS
- Median: small companies in the same sector
NORSAN AS has a score of 37 for 2025, rank 28,252 of 38,671 in the sector.
Strongest: Growth: percentile 89 against peers, revenue growth 71.8% against a median of 3.5%. Liquidity: percentile 72 against peers, current ratio 3.20 against a median of 1.70.
Weakest: Profitability: percentile 7 against peers, operating margin −165.7% against a median of 2.5%. Solidity: percentile 15 against peers, equity ratio 5.8% against a median of 38.3%.
Worth a closer look
- The equity ratio is very low. Could the company absorb a bad year, and does it need more equity? Based on: equity ratio 5.8% (median 38.3%).
- The company made a loss before tax. Are these one-off items or a pattern? Based on: profit margin −170.5% (median 2.2%).
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin −165.7% (median 2.5%).
- 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
What the numbers say
NORSAN AS had an operating margin of −165.7% and an equity ratio of 5.8% in 2025, and ranks 28,252 of 38,671 in Handel.
From 2024 to 2025: the operating margin fell from 15.6% to −165.7% and the equity ratio rose from −394.1% to 5.8%.
This text is generated automatically from the 2025 accounts.
Three simple methods
One method gives a figure: 0 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | not meaningful |
| EV/EBIT | 8.0 | not meaningful |
| P/B | 1.0 | 0 MNOK |
A mechanical estimate from public accounts, not advice. Mechanical estimate from public accounts with fixed multiples. Not a valuation and not advice to buy or sell. The multiples are provisional default values and must be adjusted per sector before the figures are used for anything. See the calculation
Worth a closer look
- watch
The equity ratio is very low. Could the company absorb a bad year, and does it need more equity?
Based on: Equity ratio 5.8% (median 38.3%).
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −170.5% (median 2.2%).
- 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 −165.7% (median 2.5%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 1.4% 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.
Data quality
- watch Extreme margin: check the figures
Scenario analysis: the sector's weakest year
We have no accounts for 2017, the sector's weakest year, for this company.
The sector's weakest year was 2017, with a median operating margin of −65.6%. Based on the 11 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 7 | weight 30% |
|---|---|---|
| Solidity | 15 | weight 25% |
| Liquidity | 72 | weight 15% |
| Growth | 89 | weight 15% |
| Consistency | 43 | weight 15% |
Durability: 47 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is NORSAN AS?
The operating margin was −165.7% in 2025, against a median of 2.5% among small companies in the same sector. Return on assets was −45.3%. The company made a loss before tax.
How solid is NORSAN AS?
The equity ratio was 5.8% in 2025 (median 38.3%). Debt-to-equity was 16.34 (median 0.99).
What is the liquidity of NORSAN AS like?
The current ratio was 3.20 in 2025 (median 1.70).
How does NORSAN AS compare in Handel?
NORSAN AS ranks 28,252 of 38,671 in Handel for 2025. Among companies of the same size (small companies) it ranks 26,231 of 36,580. Revenue changed by 71.8% from the year before.
From the Central Coordinating Register
- Org. no.
- 923211748
- Legal form
- AS
- Sector
- Handel (46.380)
- Size tier
- small
- Employees
- 0–4 (not registered)
- Founded
- 29 July 2019 7 years in operation
- Share capital
- 0.03 MNOK
- Business address
- Elvevegen 5, 3550 GOL
- Municipality
- Gol rank 10–25 of 33 in KOSTRA group 5
- Audit
- Audit opted out from 16 August 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
- Chief executive
- Vebjørn Hole Uleberg
- Chair of the board
- Joakim Graff
- Board member
- Tommy Mythe
- Accountant
- KVAMME REKNESKAP AS
Source: Central Coordinating Register, fetched 29 October 2026. Only names are shown.
Owners and shareholdings will appear here once the shareholder data extract is in place.
Coming · not built yet
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 26 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 44 | 60 | 37 | |
| Rank | 20,592 | 11,192 | 28,252 | |
| Operating margin | 70.2% | 15.6% | −165.7% | |
| Return on assets | 64.1% | 32.6% | −45.3% | |
| Equity ratio | −586.2% | −394.1% | 5.8% | |
| Current ratio | 1.77 | 2.78 | 3.20 | |
| Revenue growth | – | 215.5% | 71.8% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 0.1 MNOK | 0.4 MNOK | 0.7 MNOK |
| Operating profit | 0.1 MNOK | 0.1 MNOK | −1.1 MNOK |
| Profit before tax | 0.1 MNOK | 0.1 MNOK | −1.2 MNOK |
| Net profit | 0.1 MNOK | 0.1 MNOK | −1.2 MNOK |
| Financial expenses | 0.0 MNOK | 0.0 MNOK | 0.0 MNOK |
| Total assets | 0.1 MNOK | 0.2 MNOK | 2.5 MNOK |
| Current assets | 0.1 MNOK | 0.2 MNOK | 2.5 MNOK |
| Equity | −0.8 MNOK | −0.8 MNOK | 0.1 MNOK |
| Retained earnings | −0.8 MNOK | −0.8 MNOK | −2.0 MNOK |
| Total liabilities | 1.0 MNOK | 0.9 MNOK | 2.4 MNOK |
| Current liabilities | 0.1 MNOK | 0.1 MNOK | 0.8 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 26 October 2026, accounts id 6793524.
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