VARME & SANITÆR AS
Score · fiscal year 2025
50of 100
How to read this: the company is ahead of 51 % of small companies in the same sector in 2025. What does this mean?
Rank: 16,125 of 32,581 · Bygg og anlegg
Profile
Cheetah · Sprinter
High profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 58 and solidity 23 out of 100 among small companies in the same sector in 2025. Methodology
Against the sector
VARME & SANITÆR AS is at the median for small companies in the same sector in 2025.
Median score 50 among 31,471 companies.
Against small companies in the same sector in 2025: operating margin 3.8% (median 3.7%) and equity ratio 16.4% (median 36.5%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 47 MNOK | 3 MNOK |
| Operating margin | 3.8% | 3.7% |
| Profit margin | 3.3% | 3.4% |
| Return on assets | 13.3% | 5.7% |
| Equity ratio | 16.4% | 36.5% |
| Debt-to-equity | 5.10 | 1.20 |
| Current ratio | 1.22 | 1.45 |
| Revenue growth | 43.9% | 3.0% |
| Revenue per employee | 2.12 MNOK | 1.46 MNOK |
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 50, VARME & SANITÆR AS does better than 51% of small companies in the same sector (31,719 companies) in 2025.
Score 2023–2025
- VARME & SANITÆR AS
- Median: small companies in the same sector
VARME & SANITÆR AS has a score of 50 for 2025, rank 16,125 of 32,581 in the sector.
Strongest: Growth: percentile 81 against peers, revenue growth 43.9% against a median of 3.0%. Consistency: percentile 61 against peers.
Weakest: Solidity: percentile 23 against peers, equity ratio 16.4% against a median of 36.5%.
Worth a closer look
- 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
VARME & SANITÆR AS had an operating margin of 3.8% and an equity ratio of 16.4% in 2025, and ranks 16,125 of 32,581 in Bygg og anlegg.
From 2024 to 2025: revenue grew by 44% and the operating margin fell from 9.0% to 3.8%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 2 MNOK and 12 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 12 MNOK |
| EV/EBIT | 8.0 | 12 MNOK |
| P/B | 1.0 | 2 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 2.2% 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
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 2.4%. 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 | 58 | weight 30% |
|---|---|---|
| Solidity | 23 | weight 25% |
| Liquidity | 40 | weight 15% |
| Growth | 81 | weight 15% |
| Consistency | 61 | weight 15% |
Durability: 45 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is VARME & SANITÆR AS?
The operating margin was 3.8% in 2025, against a median of 3.7% among small companies in the same sector. Return on assets was 13.3%.
How solid is VARME & SANITÆR AS?
The equity ratio was 16.4% in 2025 (median 36.5%). Debt-to-equity was 5.10 (median 1.20).
What is the liquidity of VARME & SANITÆR AS like?
The current ratio was 1.22 in 2025 (median 1.45).
How does VARME & SANITÆR AS compare in Bygg og anlegg?
VARME & SANITÆR AS ranks 16,125 of 32,581 in Bygg og anlegg for 2025. Among companies of the same size (small companies) it ranks 15,579 of 31,719. Revenue changed by 43.9% from the year before.
Public contracts
- Contracts awarded since 2024
- 1
- Total awarded value since 2024
- value not stated
- Framework agreements
- 1
- Left out of the total: the value is a ceiling, not actual spend.
| Date | Buyer | Notice | Value |
|---|---|---|---|
| 22 June 2026 | Viken Vest Innkjøpssamarbeid (VVI) | (2025/1303) Ny konkurranse - rørleggertjenester, rammeavtale | 197.0 MNOK (framework) |
Based on notices in Doffin. Does not show call-offs under framework agreements or purchases below the publication threshold. Values are as stated by the buyer.
Source: Doffin (DFØ), fetched 27 October 2026. Winners are matched on organisation number.
Contains data under the Norwegian licence for public data (NLOD 2.0) made available by Doffin/the Norwegian Agency for Public and Financial Management (DFØ). NLOD 2.0
From the Central Coordinating Register
- Org. no.
- 981696247
- Legal form
- AS
- Sector
- Bygg og anlegg (43.221)
- Size tier
- small
- Employees
- 22 registered 10 September 2026
- Founded
- 10 February 2000 26 years in operation
- Share capital
- 1.00 MNOK
- Business address
- Prinsens gate 27, 3513 HØNEFOSS (RINGERIKE)
- Municipality
- Ringerike rank 6–11 of 13 in KOSTRA group 10
- Latest accounts filed
- 2025
- Website
- www.v-s.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
- Chief executive
- Roy Morgan Hansen
- Chair of the board
- Jan Samuelsen
- Board member
- Roy Morgan Hansen
- Board member
- Daniel Samuelsen
- Board member
- Didrik Morgan Hansen
- Board member
- Henrik Vigdal
- Auditor
- HVERVEN REVISJON 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 · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 37 | 49 | 50 | |
| Rank | 20,221 | 16,532 | 16,125 | |
| Operating margin | 2.8% | 9.0% | 3.8% | |
| Return on assets | 7.8% | 26.4% | 13.3% | |
| Equity ratio | 16.7% | 19.8% | 16.4% | |
| Current ratio | 1.16 | 1.37 | 1.22 | |
| Revenue growth | – | −18.4% | 43.9% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 39.8 MNOK | 32.5 MNOK | 46.7 MNOK |
| Operating profit | 1.1 MNOK | 2.9 MNOK | 1.8 MNOK |
| Profit before tax | 1.0 MNOK | 2.8 MNOK | 1.5 MNOK |
| Net profit | 0.8 MNOK | 2.1 MNOK | 1.2 MNOK |
| Financial expenses | 0.1 MNOK | 0.2 MNOK | 0.2 MNOK |
| Total assets | 14.8 MNOK | 11.2 MNOK | 13.5 MNOK |
| Current assets | 11.7 MNOK | 8.4 MNOK | 10.6 MNOK |
| Equity | 2.5 MNOK | 2.2 MNOK | 2.2 MNOK |
| Retained earnings | 1.5 MNOK | 1.2 MNOK | 1.2 MNOK |
| Total liabilities | 12.3 MNOK | 9.0 MNOK | 11.3 MNOK |
| Current liabilities | 10.1 MNOK | 6.1 MNOK | 8.7 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 28 October 2026, accounts id 6477361.
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