VS Element AS
Score · fiscal year 2025
76of 100
How to read this: the company is ahead of 94 % of companies in the Morning class Medium in the same sector in 2025. What does this mean?
Rank in the Morning class Medium: 85 of 1,297 · What are Morning company classes?
Place in the whole sector: 268 of 3,929 · Industri
Profile
Lion · Leader
High profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 73 and solidity 82 out of 100 among companies in the Morning class Medium in the same sector in 2025. Methodology
Against the sector
VS Element AS is 25 points above the median for companies in the Morning class Medium in the same sector in 2025.
Median score 51 among 1,297 companies.
Against companies in the Morning class Medium in the same sector in 2025: operating margin 9.7% (median 4.9%) and equity ratio 61.8% (median 39.3%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 61 MNOK | 117 MNOK |
| Operating margin | 9.7% | 4.9% |
| Profit margin | 10.3% | 4.8% |
| Return on assets | 19.1% | 10.4% |
| Equity ratio | 61.8% | 39.3% |
| Debt-to-equity | 0.62 | 1.50 |
| Current ratio | 2.02 | 1.55 |
| Revenue growth | 23.7% | 7.0% |
| Revenue per employee | 2.24 MNOK | 2.89 MNOK |
The median and “ahead of” refer to companies in the Morning class Medium in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 76, VS Element AS does better than 94% of companies in the Morning class Medium in the same sector (1,297 companies) in 2025.
Score 2023–2025
- VS Element AS
- Median: companies in the Morning class Medium in the same sector
VS Element AS has a score of 76 for 2025, rank 268 of 3,929 in the sector.
Strongest: Solidity: percentile 82 against peers, equity ratio 61.8% against a median of 39.3%. Growth: percentile 80 against peers, revenue growth 23.7% against a median of 7.0%.
No area is clearly below its peers.
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
VS Element AS had an operating margin of 9.7% and an equity ratio of 61.8% in 2025, and ranks 268 of 3,929 in Industri.
From 2024 to 2025: revenue grew by 24%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 20 MNOK and 65 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 49 MNOK |
| EV/EBIT | 8.0 | 65 MNOK |
| P/B | 1.0 | 20 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
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 0.4% 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 0.4%. 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 | 73 | weight 30% |
|---|---|---|
| Solidity | 82 | weight 25% |
| Liquidity | 70 | weight 15% |
| Growth | 80 | weight 15% |
| Consistency | 71 | weight 15% |
Durability: 70 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is VS Element AS?
The operating margin was 9.7% in 2025, against a median of 4.9% among companies in the Morning class Medium in the same sector. Return on assets was 19.1%.
How solid is VS Element AS?
The equity ratio was 61.8% in 2025 (median 39.3%). Debt-to-equity was 0.62 (median 1.50).
What is the liquidity of VS Element AS like?
The current ratio was 2.02 in 2025 (median 1.55).
How does VS Element AS compare in Industri?
VS Element AS ranks 268 of 3,929 in Industri for 2025. Among companies in the Morning class Medium it is number 85 of 1,297. Revenue changed by 23.7% from the year before.
From the Central Coordinating Register
- Org. no.
- 976758218
- Legal form
- AS
- Sector
- Industri (23.610)
- Morning company class
- Medium
- Employees
- 27 registered 10 August 2026
- Founded
- 19 September 1996 30 years in operation
- Share capital
- 0.30 MNOK
- Business address
- Bispeveien 1500, 3178 VÅLE (TØNSBERG)
- Municipality
- Tønsberg rank 2 of 10 in KOSTRA group 11
- Latest accounts filed
- 2025
- Website
- www.vselement.no
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.
Shareholders (2025)
- Number of shareholders
- 5 (one owner holds more than half)
- Largest owner
- 52.5% · top three 96.0%
- Split
- companies 96% · private persons 4% · foreign 0%
- Owned from the same municipality
- 95%
- Group chain
-
Owned by: Vestfold Utvikling AS (52%)
Ultimate owner: Vestfold Utvikling AS
- Vestfold Utvikling AS · 52.5%
- Holmaas AS · 25.0%
- Tigergutt AS · 18.5%
- 2 private persons · 4.0%
Change 2007–2025:
100% of the shares changed owner (5 new and 2 departed owners). The majority owner changed.
New owners (companies): Holmaas AS, Tigergutt AS, Vestfold Utvikling AS
Departed (companies): Cambio Invest AS, Isachsen Gruppen AS
Holds shares in: Stasjonen Business Lounge AS (2%)
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 | 74 | 61 | 76 | |
| Rank | 582 | 1,115 | 268 | |
| Operating margin | 16.2% | 8.2% | 9.7% | |
| Return on assets | 44.2% | 17.4% | 19.1% | |
| Equity ratio | 47.2% | 59.6% | 61.8% | |
| Current ratio | 1.36 | 1.84 | 2.02 | |
| Revenue growth | – | −38.3% | 23.7% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 79.4 MNOK | 49.0 MNOK | 60.6 MNOK |
| Operating profit | 12.9 MNOK | 4.0 MNOK | 5.9 MNOK |
| Profit before tax | 12.3 MNOK | 4.5 MNOK | 6.3 MNOK |
| Tax expense | – | – | – |
| Net profit | 9.6 MNOK | 3.5 MNOK | 4.9 MNOK |
| Financial expenses | 1.0 MNOK | 0.1 MNOK | 0.1 MNOK |
| Total assets | 30.1 MNOK | 26.2 MNOK | 33.2 MNOK |
| Current assets | 21.7 MNOK | 19.0 MNOK | 25.5 MNOK |
| Equity | 14.2 MNOK | 15.6 MNOK | 20.5 MNOK |
| Retained earnings | 13.9 MNOK | 15.3 MNOK | 20.2 MNOK |
| Total liabilities | 15.9 MNOK | 10.6 MNOK | 12.7 MNOK |
| Current liabilities | 15.9 MNOK | 10.3 MNOK | 12.7 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 4 November 2026, accounts id 6396003.
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