Relog AS
Score · fiscal year 2025
39of 100
How to read this: the company is ahead of 21 % of companies in the Morning class Small in the same sector in 2025. What does this mean?
Rank in the Morning class Small: 1,256 of 1,599 · What are Morning company classes?
Place in the whole sector: 5,990 of 7,839 · Eiendom
Profile
Elephant · Steward
Lower profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 17 and solidity 78 out of 100 among companies in the Morning class Small in the same sector in 2025. Methodology
Against the sector
Relog AS is 11 points below the median for companies in the Morning class Small in the same sector in 2025.
Median score 50 among 1,599 companies.
Against companies in the Morning class Small in the same sector in 2025: operating margin −97.7% (median 23.1%) and equity ratio 57.7% (median 28.1%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 44 MNOK | 18 MNOK |
| Operating margin | −97.7% | 23.1% |
| Profit margin | 447.7% | 14.4% |
| Return on assets | 5.1% | 8.3% |
| Equity ratio | 57.7% | 28.1% |
| Debt-to-equity | 0.73 | 2.32 |
| Current ratio | 0.24 | 1.28 |
| Revenue growth | 2.3% | 4.4% |
| Revenue per employee | 1.57 MNOK | 1.87 MNOK |
The median and “ahead of” refer to companies in the Morning class Small in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 39, Relog AS does better than 21% of companies in the Morning class Small in the same sector (1,599 companies) in 2025.
Score 2023–2025
- Relog AS
- Median: companies in the Morning class Small in the same sector
Relog AS has a score of 39 for 2025, rank 5,990 of 7,839 in the sector.
Strongest: Solidity: percentile 78 against peers, equity ratio 57.7% against a median of 28.1%.
Weakest: Liquidity: percentile 14 against peers, current ratio 0.24 against a median of 1.28. Profitability: percentile 17 against peers, operating margin −97.7% against a median of 23.1%.
Worth a closer look
- Consider strengthening liquidity: current liabilities are 4.2 times current assets. Based on: current ratio 0.24 (median 1.28).
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin −97.7% (median 23.1%).
- What lies behind weak profitability, and will it last?
- The change in operating margin in 2025 was 3.1 percentage points better than for comparable companies: the company +4.6, the industry +1.5 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 Relog AS rose by 4.6 percentage points. Comparable companies rose by a median 1.5 points. So the company did 3.1 points better than the industry, for reasons of its own.
Over 2 year-to-year changes Relog AS moved the same way as comparable companies 1 times. About 17% 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 | −102.3% | 21.6% | −17.2 percentage points | +3.4 percentage points | −20.7 percentage points |
| 2025 | −97.7% | 23.1% | +4.6 percentage points | +1.5 percentage points | +3.1 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 Relog AS. The figures stand side by side; we claim no cause.
House prices (existing homes) (indeks (2015 = 100))
House prices (existing homes) rose 5.5% in 2025; the operating margin of Relog AS rose 4.6 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| House prices (existing homes), annual average | 134.5 | 141.6 | 140.8 | 144.6 | 152.5 | 158.7 (so far) |
| Change from the year before | +10.5% | +5.2% | −0.5% | +2.7% | +5.5% | +4.1% |
| The company's operating margin | – | – | −85.1% | −102.3% | −97.7% | – |
Source: SSB (07221, CC BY 4.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Relog AS rose 4.6 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 | – | – | −85.1% | −102.3% | −97.7% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
Construction cost index for dwellings (indeks (2015 = 100))
Construction cost index for dwellings rose 4.3% in 2025; the operating margin of Relog AS rose 4.6 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Construction cost index for dwellings, annual average | 124.2 | 135.1 | 141.1 | 146.4 | 152.7 | 158.4 (so far) |
| Change from the year before | +8.7% | +8.8% | +4.4% | +3.7% | +4.3% | +3.7% |
| The company's operating margin | – | – | −85.1% | −102.3% | −97.7% | – |
Source: SSB (08651, CC BY 4.0). Source
Consumer price index (indeks (2025 = 100))
Consumer price index rose 3.0% in 2025; the operating margin of Relog AS rose 4.6 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 | – | – | −85.1% | −102.3% | −97.7% | – |
Source: SSB (14710, CC BY 4.0). Source
Wage index: real estate (indeks)
Wage index: real estate rose 5.2% in 2025; the operating margin of Relog AS rose 4.6 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: real estate, annual average | 91.7 | 94.3 | 96.8 | 103.2 | 108.5 | 111.3 (so far) |
| Change from the year before | +5.2% | +2.9% | +2.6% | +6.5% | +5.2% | +2.6% |
| The company's operating margin | – | – | −85.1% | −102.3% | −97.7% | – |
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
Relog AS had an operating margin of −97.7% and an equity ratio of 57.7% in 2025, and ranks 5,990 of 7,839 in Eiendom.
From 2024 to 2025: the operating margin rose from −102.3% to −97.7%.
This text is generated automatically from the 2025 accounts.
Three simple methods
One method gives a figure: 3,423 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.6 | not meaningful |
| EV/EBIT | 22.6 | not meaningful |
| P/B | 0.9 | 3,423 MNOK |
The listed basis is the value at listed multiples. The estimate is lowered by 31% for an unlisted company: 20% for lack of marketability and 14% for size (a small-company premium of 1% 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
- critical
Consider strengthening liquidity: current liabilities are 4.2 times current assets.
Based on: Current ratio 0.24 (median 1.28).
- 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 −97.7% (median 23.1%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 7.1% 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 2022, the sector's weakest year, for this company.
The sector's weakest year was 2022, with a median operating margin of 23.4%. 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 | 17 | weight 30% |
|---|---|---|
| Solidity | 78 | weight 25% |
| Liquidity | 14 | weight 15% |
| Growth | 38 | weight 15% |
| Consistency | 42 | weight 15% |
Durability: 43 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Relog AS?
The operating margin was −97.7% in 2025, against a median of 23.1% among companies in the Morning class Small in the same sector. Return on assets was 5.1%.
How solid is Relog AS?
The equity ratio was 57.7% in 2025 (median 28.1%). Debt-to-equity was 0.73 (median 2.32).
What is the liquidity of Relog AS like?
The current ratio was 0.24 in 2025 (median 1.28). Current assets did not cover current liabilities.
How does Relog AS compare in Eiendom?
Relog AS ranks 5,990 of 7,839 in Eiendom for 2025. Among companies in the Morning class Small it is number 1,256 of 1,599. Revenue changed by 2.3% from the year before.
Group accounts · 2025
54 of 100
Rank 29 of 70 groups in the Morning class Large in Eiendom. Groups are ranked only against other groups in the same sector and class, never against single companies.
- Operating revenue, group
- 890 MNOK
- Operating profit, group
- 745 MNOK
- Profit before tax, group
- 1,078 MNOK
- Total assets, group
- 17,507 MNOK
- Equity, group
- 7,471 MNOK
| Key figure | The group | The company alone (2025) |
|---|---|---|
| Operating margin | 83.7% | −97.7% |
| Return on assets | 8.9% | 5.1% |
| Equity ratio | 42.7% | 57.7% |
| Current ratio | 0.08 | 0.24 |
| Revenue growth | 13.8% | 2.3% |
Group index in earlier years: 2023: 46 (35 of 66), 2024: 53 (28 of 68).
Same formulas and weights as the company index. Group and company are never added together, and the group accounts are not part of sector averages or company rankings.
Source: Brønnøysund Register Centre, group accounts 2025 (open data, NLOD 2.0).
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.
We do not show the group structure, because open data does not say who owns whom.
From the Central Coordinating Register
- Org. no.
- 927210975
- Legal form
- AS · part of a group
- Sector
- Eiendom (68.120)
- Morning company class
- Small
- Employees
- 28 registered 10 September 2025
- Founded
- 11 May 2021 5 years in operation
- Share capital
- 0.44 MNOK
- Business address
- Søndre gate 15, 7011 TRONDHEIM
- Municipality
- Trondheim rank 3 of 11 in KOSTRA group 12
- Latest accounts filed
- 2025
- LEI
- 894500TF63FGKKWNZN88 renews 11 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 31 October 2026. Only names are shown.
- Parent company
- Login Invest ANS (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
- 10 (one owner holds more than half)
- Largest owner
- 74.9% · top three 89.2%
- Split
- companies 100% · private persons 0% · foreign 0%
- Group chain
- Ultimate owner: 3Log ANS
- 3Log ANS · 74.9%
- Persson Norge AS · 8.5%
- Lyng Gruppen AS · 5.8%
- Heglund Holding AS · 4.5%
- STIFTELSEN FRITT ORD · 2.9%
- Reitan Eiendom AS · 2.0%
- Sand Eiendom AS · 0.7%
- Forstaden AS · 0.6%
- Mellingsæter Holding AS · 0.1%
- Infinitus AS · 0.0%
The company is new in the shareholder register in 2025.
Majority owner of: Nhp Eiendom AS (100%), Relog Energy AS (100%), Relog Invest AS (99%), Login Parinvest Holding AS (70%)
Holds shares in: Nhp Eiendom AS (100%), Login Parinvest Holding AS (70%), Relog Energy AS (100%), Relog Invest AS (99%)
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 4 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 45 | 44 | 39 | |
| Rank | 4,213 | 4,837 | 5,990 | |
| Operating margin | −85.1% | −102.3% | −97.7% | |
| Return on assets | 3.4% | 6.9% | 5.1% | |
| Equity ratio | 56.2% | 55.3% | 57.7% | |
| Current ratio | 1.46 | 2.70 | 0.24 | |
| Revenue growth | – | −8.5% | 2.3% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 47.0 MNOK | 43.0 MNOK | 44.0 MNOK |
| Operating profit | −40.0 MNOK | −44.0 MNOK | −43.0 MNOK |
| Profit before tax | −810.0 MNOK | 358.0 MNOK | 197.0 MNOK |
| Tax expense | 2.0 MNOK | 3.0 MNOK | 6.0 MNOK |
| Net profit | −812.0 MNOK | 355.0 MNOK | 191.0 MNOK |
| Financial expenses | 1,110.0 MNOK | 306.0 MNOK | 286.0 MNOK |
| Total assets | 8,817.0 MNOK | 9,606.0 MNOK | 9,526.0 MNOK |
| Current assets | 990.0 MNOK | 1,337.0 MNOK | 961.0 MNOK |
| Equity | 4,953.0 MNOK | 5,308.0 MNOK | 5,497.0 MNOK |
| Retained earnings | – | 355.0 MNOK | 544.0 MNOK |
| Total liabilities | 3,865.0 MNOK | 4,300.0 MNOK | 4,030.0 MNOK |
| Current liabilities | 677.0 MNOK | 495.0 MNOK | 4,028.0 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 4 November 2026, accounts id 7234356.
Further
Similar companies
- TINHOLT EIENDOMSMEGLING BYGDØY ALLÈ AS index 39, rank 5,976 · compare
- Pilestredet 33 AS index 39, rank 5,980 · compare
- Alf Bjerckes Vei AS index 39, rank 5,984 · compare
- KLP Munkedamsveien 62 AS index 39, rank 5,988 · compare
- Trysilsenteret AS index 39, rank 5,998 · compare