BELSHIPS HOLDING AS
Score · fiscal year 2025
Not enough data: Revenue not reported
Based on the annual accounts for 2025
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating margin | – | 8.7% |
| Profit margin | – | 5.1% |
| Return on assets | 0.0% | 8.2% |
| Equity ratio | 100.0% | 29.9% |
| Debt-to-equity | 0.00 | 2.21 |
| Current ratio | 267.77 | 1.17 |
| Revenue growth | – | −4.4% |
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.
What the numbers say
BELSHIPS HOLDING AS had an equity ratio of 100.0% in 2025. The company is not ranked: revenue not reported.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 1 MUSD and 447 MUSD.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 1 MUSD |
| EV/EBIT | 8.0 | not meaningful |
| P/B | 1.0 | 447 MUSD |
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
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 501.1% 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.
Data quality
- watch Revenue not reported
- watch No revenue but large assets
- watch Reports in a currency other than NOK
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 5.1%. Based on the 7 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
Questions and answers
How profitable is BELSHIPS HOLDING AS?
The operating margin was – in 2025, against a median of 8.7% among companies in the same sector. Return on assets was 0.0%.
How solid is BELSHIPS HOLDING AS?
The equity ratio was 100.0% in 2025 (median 29.9%). Debt-to-equity was 0.00 (median 2.21).
What is the liquidity of BELSHIPS HOLDING AS like?
The current ratio was 267.77 in 2025 (median 1.17).
Group accounts · 2025
52 of 100
Rank 623 of 1354 groups with group accounts. Groups are ranked only against each other, not against single companies.
- Operating revenue, group
- 206 MUSD
- ≈ 2,130 MNOK at Norges Bank's rate for the period
- Operating profit, group
- 31 MUSD
- ≈ 318 MNOK at Norges Bank's rate for the period
- Profit before tax, group
- 11 MUSD
- ≈ 116 MNOK at Norges Bank's rate for the period
- Total assets, group
- 1,043 MUSD
- ≈ 10,512 MNOK at Norges Bank's rate for the period
- Equity, group
- 465 MUSD
- ≈ 4,690 MNOK at Norges Bank's rate for the period
The group accounts are in USD. Amounts are shown in USD, with NOK below. Ratios are computed in USD.
| Key figure | The group | The company alone (2025) |
|---|---|---|
| Operating margin | 14.9% | – |
| Return on assets | 3.2% | 0.0% |
| Equity ratio | 44.6% | 100.0% |
| Current ratio | 1.48 | 267.77 |
| Revenue growth | – | – |
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).
We do not show the group structure, because open data does not say who owns whom.
From the Central Coordinating Register
- Org. no.
- 934948378
- Legal form
- AS
- Sector
- Sjøfart (50.201)
- Size tier
- large
- Employees
- 0–4 (not registered)
- Founded
- 20 January 2025 1 years in operation
- Share capital
- 2.53 MNOK
- Business address
- c/o Permian AS, Hieronymus Heyerdahls gate 1, 0160 OSLO
- Municipality
- Oslo rank 63–221 of 357 in Norway
- Latest accounts filed
- 2025
- LEI
- 3912008PF9TIZCK89N67 renews 18 March 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
- Chair of the board
- Tom St John Walsh
- Board member
- Hans Nikolaus Schües
- Auditor
- PRICEWATERHOUSECOOPERS AS
- Accountant
- PERMIAN BUSINESS PARTNER AS
Source: Central Coordinating Register, fetched 29 October 2026. Only names are shown.
- Parent company
- No known owner
Source: GLEIF (Global Legal Entity Identifier Foundation), fetched 29 October 2026. The parent is the one the company itself reported to GLEIF.
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
Trends appear once there is more than one fiscal year.
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (USD).
| Key figure | 2025 |
|---|---|
| Operating revenue | – |
| Operating profit | −0.1 MUSD |
| Profit before tax | 0.1 MUSD |
| Net profit | 0.1 MUSD |
| Financial expenses | 0.0 MUSD |
| Total assets | 446.7 MUSD |
| Current assets | 0.5 MUSD |
| Equity | 446.7 MUSD |
| Retained earnings | – |
| Total liabilities | 0.0 MUSD |
| Current liabilities | 0.0 MUSD |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 27 October 2026, accounts id 7104473.