VARME AS
Score · fiscal year 2025
70of 100
How to read this: the company is ahead of 87 % of companies in the Morning class Small in the same sector in 2025. What does this mean?
Rank in the Morning class Small: 731 of 5,567 · What are Morning company classes?
Place in the whole sector: 2,883 of 20,428 · Bygg og anlegg
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 99 out of 100 among companies in the Morning class Small in the same sector in 2025. Methodology
Against the sector
VARME AS is 19 points above the median for companies in the Morning class Small in the same sector in 2025.
Median score 51 among 5,567 companies.
Against companies in the Morning class Small in the same sector in 2025: operating margin −2.0% (median 4.5%) and equity ratio 87.0% (median 34.2%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 29 MNOK | 19 MNOK |
| Operating margin | −2.0% | 4.5% |
| Profit margin | 0.1% | 4.3% |
| Return on assets | 0.2% | 11.0% |
| Equity ratio | 87.0% | 34.2% |
| Debt-to-equity | 0.15 | 1.72 |
| Current ratio | 5.86 | 1.48 |
| Revenue growth | – | 6.0% |
| Revenue per employee | 3.24 MNOK | 1.70 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 70, VARME AS does better than 87% of companies in the Morning class Small in the same sector (5,567 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.
VARME AS has a score of 70 for 2025, rank 2,883 of 20,428 in the sector.
Strongest: Consistency: percentile 99 against peers. Solidity: percentile 99 against peers, equity ratio 87.0% against a median of 34.2%.
Weakest: Profitability: percentile 17 against peers, operating margin −2.0% against a median of 4.5%.
Worth a closer look
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin −2.0% (median 4.5%).
- 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
VARME AS had an operating margin of −2.0% and an equity ratio of 87.0% in 2025, and ranks 2,883 of 20,428 in Bygg og anlegg.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 1 MNOK and 21 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 1 MNOK |
| EV/EBIT | 8.0 | not meaningful |
| P/B | 1.0 | 21 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 operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors?
Based on: Operating margin −2.0% (median 4.5%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 0.7% 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 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 | 17 | weight 30% |
|---|---|---|
| Solidity | 99 | weight 25% |
| Liquidity | 98 | weight 15% |
| Growth | – | no data, left out |
| Consistency | 99 | weight 15% |
Index version 2. Data completeness 85%: the share of the weights that had data.
Questions and answers
How profitable is VARME AS?
The operating margin was −2.0% in 2025, against a median of 4.5% among companies in the Morning class Small in the same sector. Return on assets was 0.2%.
How solid is VARME AS?
The equity ratio was 87.0% in 2025 (median 34.2%). Debt-to-equity was 0.15 (median 1.72).
What is the liquidity of VARME AS like?
The current ratio was 5.86 in 2025 (median 1.48).
How does VARME AS compare in Bygg og anlegg?
VARME AS ranks 2,883 of 20,428 in Bygg og anlegg for 2025. Among companies in the Morning class Small it is number 731 of 5,567.
From the Central Coordinating Register
- Org. no.
- 935780810
- Legal form
- AS
- Sector
- Bygg og anlegg (43.222)
- Morning company class
- Small
- Employees
- 9 registered 10 April 2026
- Founded
- 30 April 2025 1 years in operation
- Share capital
- 0.03 MNOK
- Business address
- Minde allé 40, 5068 BERGEN
- Municipality
- Bergen rank 8 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
- Asgeir Ådne Vikhagen
- Chair of the board
- Hanne Reikvam
- Board member
- Asgeir Ådne Vikhagen
- Auditor
- DELOITTE 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 28 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 (NOK).
| Key figure | 2025 |
|---|---|
| Operating revenue | 29.2 MNOK |
| Operating profit | −0.6 MNOK |
| Profit before tax | 0.0 MNOK |
| Net profit | 0.1 MNOK |
| Financial expenses | 0.0 MNOK |
| Total assets | 23.6 MNOK |
| Current assets | 17.9 MNOK |
| Equity | 20.6 MNOK |
| Retained earnings | 20.5 MNOK |
| Total liabilities | 3.1 MNOK |
| Current liabilities | 3.1 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 28 October 2026, accounts id 6910982.
Further
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