BEL SHIP III AS
Score · fiscal year 2025
23of 100
How to read this: the company is ahead of 12 % of small companies in the same sector in 2025. What does this mean?
Rank: 1,824 of 2,035 · Sjøfart
Profile
Beaver · Builder
Lower profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 25 and solidity 0 out of 100 among small companies in the same sector in 2025. Methodology
Against the sector
BEL SHIP III AS is 27 points below the median for small companies in the same sector in 2025.
Median score 50 among 1,468 companies.
Against small companies in the same sector in 2025: operating margin −17.6% (median 8.4%) and equity ratio −2.3% (median 51.2%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 10 MNOK | 5 MNOK |
| Operating margin | −17.6% | 8.4% |
| Profit margin | −88.6% | 9.2% |
| Return on assets | −0.4% | 3.4% |
| Equity ratio | −2.3% | 51.2% |
| Debt-to-equity | – | 0.67 |
| Current ratio | 1.46 | 1.77 |
| Revenue growth | – | 1.2% |
The median and “ahead of” refer to small companies in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 23, BEL SHIP III AS does better than 12% of small companies in the same sector (1,475 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.
BEL SHIP III AS has a score of 23 for 2025, rank 1,824 of 2,035 in the sector.
Strongest: Liquidity: percentile 45 against peers, current ratio 1.46 against a median of 1.77.
Weakest: Solidity: percentile 0 against peers, equity ratio −2.3% against a median of 51.2%. Profitability: percentile 25 against peers, operating margin −17.6% against a median of 8.4%.
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 −2.3% (median 51.2%).
- The company made a loss before tax. Are these one-off items or a pattern? Based on: profit margin −88.6% (median 9.2%).
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin −17.6% (median 8.4%).
- 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
BEL SHIP III AS had an operating margin of −17.6% and an equity ratio of −2.3% in 2025, and ranks 1,824 of 2,035 in Sjøfart.
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 −2.3% (median 51.2%).
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −88.6% (median 9.2%).
- 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 −17.6% (median 8.4%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 1.8% 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.
Data quality
- critical Negative equity
- watch Reports in a currency other than NOK
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 6.1%. Based on the 7 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 25 | weight 30% |
|---|---|---|
| Solidity | 0 | weight 25% |
| Liquidity | 45 | weight 15% |
| Growth | – | no data, left out |
| Consistency | 33 | weight 15% |
Index version 2. Data completeness 85%: the share of the weights that had data.
Questions and answers
How profitable is BEL SHIP III AS?
The operating margin was −17.6% in 2025, against a median of 8.4% among small companies in the same sector. Return on assets was −0.4%. The company made a loss before tax.
How solid is BEL SHIP III AS?
The equity ratio was −2.3% in 2025 (median 51.2%). Equity is negative, so liabilities exceed assets.
What is the liquidity of BEL SHIP III AS like?
The current ratio was 1.46 in 2025 (median 1.77).
How does BEL SHIP III AS compare in Sjøfart?
BEL SHIP III AS ranks 1,824 of 2,035 in Sjøfart for 2025. Among companies of the same size (small companies) it ranks 1,295 of 1,475.
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.
- 936206794
- Legal form
- AS · part of a group
- Sector
- Sjøfart (50.201)
- Size tier
- small
- Employees
- 0–4 (not registered)
- Founded
- 11 September 2025 1 years in operation
- Share capital
- 0.03 MNOK
- Business address
- Strandveien 50, 1366 LYSAKER (BÆRUM)
- Municipality
- Bærum rank 1 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
- Chair of the board
- Ivar Hansson Myklebust
- Board member
- Yngve Aslaksen Gram
- Auditor
- PRICEWATERHOUSECOOPERS 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 (USD). Revenue in NOK is converted from USD at the mean rate for the accounting period 11 September 2025–31 December 2025: 10.0637 (norges_bank (mean of 77 daily rates)). Balance-sheet amounts use the rate on the balance-sheet date. Ratios and growth are computed in USD. Exchange rates at Norges Bank
| Key figure | 2025 |
|---|---|
| Operating revenue | 1.0 MUSD |
| Operating profit | −0.2 MUSD |
| Profit before tax | −0.8 MUSD |
| Net profit | −0.8 MUSD |
| Financial expenses | 0.7 MUSD |
| Total assets | 36.8 MUSD |
| Current assets | 1.2 MUSD |
| Equity | −0.8 MUSD |
| Retained earnings | −0.8 MUSD |
| Total liabilities | 37.6 MUSD |
| Current liabilities | 0.8 MUSD |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 28 October 2026, accounts id 7145035.
Further
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