Joco 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
Not enough data: Revenue not reported
Based on the annual accounts for 2025
How it has gone · 2023–2025
The equity ratio fell from 99.2% in 2023 to 90.1% in 2025.
Amounts in the reporting currency. The full year-by-year table is further down under «Details». See every figure year by year
Worth a closer look
- critical
The operating result does not cover the financial costs. How will the debt be serviced, and what do the lenders say?
Based on: Interest coverage (times) −0.1 (median 38.8); Financial costs as a share of debt 3.8% (median 1.9%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 3.8% 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
- watch Revenue not reported
- watch No revenue but large assets
Scenario analysis: the sector's weakest year
We have no accounts for 2026, the sector's weakest year, for this company.
The sector's weakest year was 2026, with a median operating margin of −13.5%. Based on the 7 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating margin | – | 72.9% |
| Profit margin | – | 72.7% |
| Return on assets | 1.1% | 14.2% |
| Equity ratio | 90.1% | 83.1% |
| Debt-to-equity | 0.11 | 0.19 |
| Current ratio | 1.94 | 4.46 |
| Revenue growth | – | 13.2% |
The median and “ahead of” refer to companies in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
Score over time
Score over time needs at least two fiscal years with a score. It will appear when next year's figures are fetched or history is imported.
Working capital and debt
| Measure | Company | Median | |
|---|---|---|---|
| Working capital | |||
| Receivable days All current receivables, including those on group companies, in days of revenue. |
– | 46 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 | |
| Net working capital to revenue Current assets less bank deposits less current liabilities, divided by revenue. Negative: short-term debt funds the operations. |
– | 42.8% | |
| Cash share of current assets How much of the short-term buffer is bank deposits and cash. |
1.1% | 20.5% | |
| 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. |
−0.1 | 38.8 | |
| 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. |
3.8% | 1.9% | |
| Long-term share of debt Long-term debt as a share of all debt. A low share means more falls due within a year. |
– | 14.5% | |
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): 43.2 MNOK.
Of the financial costs of 1.8 MNOK, 1.1 MNOK is reported as interest costs in the accounts.
The median and the bar refer to companies 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?
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 Joco AS. The figures stand side by side; we claim no cause.
Policy rate (prosent)
| 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 | – | – | – | – | – | – |
Source: Norges Bank (IR, NLOD 2.0). Source
Consumer price index (indeks (2025 = 100))
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Consumer price index, annual average | 84.3 | 89.2 | 94.1 | 97.0 | 100.0 | 103.0 (so far) |
| Change from the year before | +3.5% | +5.8% | +5.5% | +3.2% | +3.0% | +3.0% |
| The company's operating margin | – | – | – | – | – | – |
Source: SSB (14710, CC BY 4.0). Source
Wage index: financial services (indeks)
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: financial services, annual average | 87.1 | 90.4 | 94.2 | 98.9 | 103.5 | 107.3 (so far) |
| Change from the year before | +2.9% | +3.8% | +4.1% | +5.0% | +4.6% | +3.7% |
| The company's operating margin | – | – | – | – | – | – |
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
Joco AS had an equity ratio of 90.1% in 2025. The company is not ranked: revenue not reported.
From 2024 to 2025: went from a loss to a profit before tax and the equity ratio rose from 71.3% to 90.1%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 0 MNOK and 290 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 7.3 | 0 MNOK |
| EV/EBIT | – | not used in the sector |
| P/B | 1.0 | 290 MNOK |
The listed basis is the value at listed multiples. The estimate is lowered for size: a small-company premium of 3% on the cost of equity gives a value 32% 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 (66): Financial Svcs. (Non-bank & Insurance).
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
Questions and answers
How profitable is Joco AS?
The operating margin was – in 2025, against a median of 72.9% among companies in the same sector. Return on assets was 1.1%.
How solid is Joco AS?
The equity ratio was 90.1% in 2025 (median 83.1%). Debt-to-equity was 0.11 (median 0.19).
What is the liquidity of Joco AS like?
The current ratio was 1.94 in 2025 (median 4.46).
Group structure · 2025
8 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.
Private persons own 70% of the shares in Namløs AS. Persons are not shown by name.
Namløs 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
- Finans og forsikring (7 companies) 7 of 8 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
- 5 in all. Oslo 5 Registered employees in the Central Coordinating Register, by the municipality of the business address. Employees may work elsewhere.
- Loss
- 1 company: Levantor Partners AS
- Changed 2024–2025
- 1 company joined the group: Levantor Partners AS. 3 companies left, among them: Levantor Partnership II AS, Levantor Private Equity 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.
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Namløs AS
-
Joco AS you are here
- Org. no. 934615670
- Levantor 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.
- 925614661
- Legal form
- AS
- Sector
- Finans og forsikring (66.190)
- Purpose
- Drive virksomhet med å eie aksjer og andeler i selskaper hvis hovedvirksomhet er å yte tjenester relatert til kapitalforvaltning og/eller investeringsrådgivning, samt aktiviteter i naturlig sammenheng med dette.
- Employees
- 0–4 (not registered)
- Founded
- 30 June 2020 6 years in operation
- Share capital
- 0.12 MNOK
- Business address
- Dronning Mauds gate 3, 0250 OSLO
- Municipality
- Oslo rank 63–220 of 357 in Norway
- Latest accounts filed
- 2025
- VAT registered
- No
- LEI
- 8945008CEJYMFF9E2Z22 renews 14 November 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
Ownership and roles
Loading roles …
Source: Central Coordinating Register, fetched 4 November 2026. Only names are shown.
- Parent company
- Namløs AS (Norway)
Source: GLEIF (Global Legal Entity Identifier Foundation), fetched 31 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 100% · private persons 0% · foreign 0%
- Owned from the same municipality
- 100%
- Group chain
-
Owned by: Namløs AS (100%)
Ultimate owner: private person
- Namløs AS · 100.0%
The company is new in the shareholder register in 2025.
Majority owner of: Levantor Invest Holding AS (55%)
The portfolio: 6 of the companies it owns shares in have accounts with us, 1 of them as majority owner. The average index is 59. 0 have negative equity and 1 made a loss in the latest year.
Holds shares in: Tekna Holding ASA (1%), Storebrand ASA (0%), Levantor Invest Holding AS (55%), Vend Marketplaces ASA (0%), Kongsberg Gruppen ASA (0%), Jotun A/S (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 | – | – | – | |
| Rank | – | – | – | |
| Operating margin | – | – | – | |
| Return on assets | 0.0% | 0.0% | 1.1% | |
| Equity ratio | 99.2% | 71.3% | 90.1% | |
| Current ratio | 1.00 | 0.35 | 1.94 | |
| Revenue growth | – | – | – |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | – | – | – |
| Operating profit | −0.1 MNOK | −0.1 MNOK | −0.1 MNOK |
| Profit before tax | −2.4 MNOK | −1.8 MNOK | 3.5 MNOK |
| Tax expense | −0.5 MNOK | −0.3 MNOK | −0.1 MNOK |
| Net profit | −1.9 MNOK | −1.5 MNOK | 3.6 MNOK |
| Financial expenses | 2.4 MNOK | 1.8 MNOK | 1.8 MNOK |
| Total assets | 311.7 MNOK | 431.3 MNOK | 472.2 MNOK |
| Current assets | 2.5 MNOK | 43.6 MNOK | 91.2 MNOK |
| Equity | 309.3 MNOK | 307.4 MNOK | 425.2 MNOK |
| Retained earnings | −3.6 MNOK | −5.5 MNOK | −1.9 MNOK |
| Total liabilities | 2.4 MNOK | 123.9 MNOK | 47.0 MNOK |
| Current liabilities | 2.4 MNOK | 123.9 MNOK | 47.0 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 9 November 2026, accounts id 6835252.