PROTEK VVS AS
Score · fiscal year 2025
16of 100
How to read this: the company is ahead of 7 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 12,095 of 12,950 · What are Morning company classes?
Place in the whole sector: 19,225 of 20,428 · Bygg og anlegg
Profile
Beaver · Builder
Lower profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 1 and solidity 0 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
PROTEK VVS AS is 34 points below the median for companies in the Morning class Micro in the same sector in 2025.
Median score 50 among 12,943 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin −64.8% (median 3.5%) and equity ratio −235.5% (median 33.1%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 9 MNOK | 3 MNOK |
| Operating margin | −64.8% | 3.5% |
| Profit margin | −68.1% | 3.0% |
| Return on assets | −166.0% | 7.8% |
| Equity ratio | −235.5% | 33.1% |
| Debt-to-equity | – | 1.41 |
| Current ratio | 0.26 | 1.42 |
| Revenue growth | 984.7% | 6.1% |
| Revenue per employee | 1.16 MNOK | 0.88 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 16, PROTEK VVS AS does better than 7% of companies in the Morning class Micro in the same sector (12,950 companies) in 2025.
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.
PROTEK VVS AS has a score of 16 for 2025, rank 19,225 of 20,428 in the sector.
Strongest: Growth: percentile 98 against peers, revenue growth 984.7% against a median of 6.1%.
Weakest: Solidity: percentile 0 against peers, equity ratio −235.5% against a median of 33.1%. Profitability: percentile 1 against peers, operating margin −64.8% against a median of 3.5%.
Worth a closer look
- Equity is negative. How will it be rebuilt, and what do lenders and the auditor say about going concern? Based on: equity ratio −235.5% (median 33.1%).
- Consider strengthening liquidity: current liabilities are 3.9 times current assets. Based on: current ratio 0.26 (median 1.42).
- The company made a loss before tax. Are these one-off items or a pattern? Based on: profit margin −68.1% (median 3.0%).
- What lies behind weak solidity, 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
PROTEK VVS AS had an operating margin of −64.8% and an equity ratio of −235.5% in 2025, and ranks 19,225 of 20,428 in Bygg og anlegg.
From 2024 to 2025: revenue grew by 985% and the operating margin rose from −255.8% to −64.8%.
This text is generated automatically from the 2025 accounts.
Three simple methods
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | not meaningful |
| EV/EBIT | 8.0 | not meaningful |
| P/B | 1.0 | not meaningful |
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
- critical
Equity is negative. How will it be rebuilt, and what do lenders and the auditor say about going concern?
Based on: Equity ratio −235.5% (median 33.1%).
- critical
Consider strengthening liquidity: current liabilities are 3.9 times current assets.
Based on: Current ratio 0.26 (median 1.42).
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −68.1% (median 3.0%).
- 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 −64.8% (median 3.5%).
- watch
Strong growth with weak liquidity. Is the growth financed, or does it tie up capital the company does not have?
Based on: Revenue growth 984.7% (median 6.1%); Current ratio 0.26 (median 1.42).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 2.6% 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
- critical Negative equity
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 1.8%. 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 | 1 | weight 30% |
|---|---|---|
| Solidity | 0 | weight 25% |
| Liquidity | 4 | weight 15% |
| Growth | 98 | weight 15% |
| Consistency | 3 | weight 15% |
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is PROTEK VVS AS?
The operating margin was −64.8% in 2025, against a median of 3.5% among companies in the Morning class Micro in the same sector. Return on assets was −166.0%. The company made a loss before tax.
How solid is PROTEK VVS AS?
The equity ratio was −235.5% in 2025 (median 33.1%). Equity is negative, so liabilities exceed assets.
What is the liquidity of PROTEK VVS AS like?
The current ratio was 0.26 in 2025 (median 1.42). Current assets did not cover current liabilities.
How does PROTEK VVS AS compare in Bygg og anlegg?
PROTEK VVS AS ranks 19,225 of 20,428 in Bygg og anlegg for 2025. Among companies in the Morning class Micro it is number 12,095 of 12,950. Revenue changed by 984.7% from the year before.
Group accounts
The company is registered as part of a group, but we have no group accounts for it. Group accounts are filed by the parent company, and open data does not say which company that is.
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.
- 933804127
- Legal form
- AS · part of a group
- Sector
- Bygg og anlegg (43.221)
- Morning company class
- Micro
- Employees
- 8 registered 10 September 2026
- Founded
- 26 April 2024 2 years in operation
- Share capital
- 0.03 MNOK
- Business address
- Østre Rosten 84C, 7075 TILLER (TRONDHEIM)
- Municipality
- Trondheim rank 3 of 11 in KOSTRA group 12
- 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
- Kurt Erik Indahl
- Chair of the board
- Geir Andersen
- Board member
- Kåre Henning Åsly
- Board member
- Steinar Johansen
- Board member
- Kurt Erik Indahl
- Auditor
- VAAK REVISJON OG RÅDGIVNING AS
- Accountant
- VVS FINANS 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 27 October 2026.
Year by year · 2024–2025
| Key figure | 2024 | 2025 | Trend |
|---|---|---|---|
| Index | – | 16 | |
| Rank | – | 19,225 | |
| Operating margin | −255.8% | −64.8% | |
| Return on assets | −177.7% | −166.0% | |
| Equity ratio | −178.6% | −235.5% | |
| Current ratio | 0.24 | 0.26 | |
| Revenue growth | – | 984.7% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2024 | 2025 |
|---|---|---|
| Operating revenue | 0.9 MNOK | 9.3 MNOK |
| Operating profit | −2.2 MNOK | −6.0 MNOK |
| Profit before tax | −2.2 MNOK | −6.3 MNOK |
| Net profit | −2.2 MNOK | −6.3 MNOK |
| Financial expenses | 0.0 MNOK | 0.3 MNOK |
| Total assets | 1.2 MNOK | 3.6 MNOK |
| Current assets | 0.8 MNOK | 3.1 MNOK |
| Equity | −2.2 MNOK | −8.5 MNOK |
| Retained earnings | −2.2 MNOK | −8.5 MNOK |
| Total liabilities | 3.4 MNOK | 12.1 MNOK |
| Current liabilities | 3.4 MNOK | 12.1 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 27 October 2026, accounts id 6393115.
Further
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