Kubera AS
Not financial advice. The index, rank, signals and advice are rule-based indications from the latest filed annual accounts. They are not a credit rating, an assessment of management or a recommendation to buy, sell or do business with the company. Read more
Key facts
Is the company run well?
Five key figures against companies in the Morning class Micro in the same sector. Green is better than most, amber about like the industry and red weaker than most.
- Profitability · operating margin −123.5% Weaker than the industry Industry: 47.7%
- Returns · return on assets 2.1% Weaker than the industry Industry: 7.8%
- Solidity · equity ratio 27.1% About like the industry Industry: 27.9%
- Liquidity · current ratio 1.57 About like the industry Industry: 1.40
- Growth · revenue growth −77.0% Weaker than the industry Industry: 3.3%
The mark comes from the company's place among comparable companies (percentile): green from 60, amber from 40, red below 40. Negative equity, an operating loss and a current ratio under 1 pull it down regardless. Methodology
Score · fiscal year 2025
17of 100
How to read this: the company is ahead of 4 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 23,046 of 23,899 · What are Morning company classes?
Place in the whole sector: 29,068 of 30,124 · Eiendom
Profile
Beaver · Builder
Lower profitability, lower resilience
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 10 and resilience 37 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
Kubera AS is 33 points below the median for companies in the Morning class Micro in the same sector in 2025.
Median score 50 among 23,893 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin −123.5% (median 47.7%) and equity ratio 27.1% (median 27.9%).
How it has gone · 2023–2025
Revenue fell by 7 % from 2023 to 2025, to 4.3 MNOK. The operating margin fell from −64.8% in 2023 to −123.5% in 2025. The equity ratio fell from 42.1% in 2023 to 27.1% in 2025.
Amounts in the reporting currency. The full year-by-year table is further down under «Details». See every figure year by year
Accounts in short
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 4.6 MNOK | 18.5 MNOK | 4.3 MNOK |
| Operating profit | −3.0 MNOK | 4.4 MNOK | −5.3 MNOK |
| Net profit | −12.3 MNOK | −8.9 MNOK | −4.3 MNOK |
| Total assets | 217.4 MNOK | 171.7 MNOK | 173.1 MNOK |
| Equity | 91.5 MNOK | 51.3 MNOK | 47.0 MNOK |
| Total liabilities | 125.9 MNOK | 120.4 MNOK | 126.2 MNOK |
From the Brønnøysund Register Centre, in the company's reporting currency (NOK). See every figure year by year
From the Central Coordinating Register
- Org. no.
- 984114540
- Legal form
- AS
- Sector
- Eiendom (68.200)
- Purpose
- Investere i, oppføre og drive utleie av eiendommer, entreprenørvirksomhet samt hva hermed står i forbindelse, delta i handelsvirksomhet, med aksjer og andeler delta i andre selskaper samt hva hermed står i forbindelse.
- Morning company class
- Micro
- Employees
- 5 registered 10 June 2026
- Founded
- 10 December 2001 24 years in operation
- Share capital
- 49.12 MNOK
- Business address
- Teknologiveien 11, 8517 NARVIK
- Municipality
- Narvik rank 16–25 of 27 in KOSTRA group 9
- Latest accounts filed
- 2025
- VAT registered
- Yes
- Website
- www.kubera.no
- Former names
- Narvik Invest AS until 2007, Narvik Invest AS until 2002
- LEI
- 98450056WF4BFB1U1A34 renews 8 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
Kubera AS has a score of 17 for 2025, rank 29,068 of 30,124 in the sector.
Strongest: Liquidity: percentile 53 against peers, current ratio 1.57 against a median of 1.40.
Weakest: Growth: percentile 1 against peers, revenue growth −77.0% against a median of 3.3%. Profitability: percentile 10 against peers, operating margin −123.5% against a median of 47.7%.
Worth a closer look
- The operating result does not cover the financial costs. How will the debt be serviced, and what do the lenders say? Based on: interest coverage (times) −0.6 (median 1.8); financial costs as a share of debt 7.0% (median 5.0%).
- The company made a loss before tax. Are these one-off items or a pattern? Based on: profit margin −121.6% (median 24.4%).
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin −123.5% (median 47.7%).
- What lies behind weak growth, 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
Worth a closer look
- critical
The operating result does not cover the financial costs. How will the debt be serviced, and what do the lenders say?
Based on: Interest coverage (times) −0.6 (median 1.8); Financial costs as a share of debt 7.0% (median 5.0%).
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −121.6% (median 24.4%).
- 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 −123.5% (median 47.7%).
- watch
Receivables equal far more days of revenue than at comparable companies. Do customers pay late, or are these loans to companies in the same group?
Based on: Receivable days 778 days (median 40 days).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 7.0% 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
- watch Extreme margin: check 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 15.0%. 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 | 10 | weight 40% |
|---|---|---|
| Solidity | 47 | weight 20% |
| Liquidity | 53 | weight 5% |
| Growth | 1 | weight 25% |
| Consistency | 11 | weight 10% |
Three goals: profitability 40%, growth 25%, resilience 35%. Why these weights?
Durability: 36 (average over 3 years)
Index version 3. Data completeness 100%: the share of the weights that had data.
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 4 MNOK | 2 MNOK |
| Operating margin | −123.5% | 47.7% |
| Profit margin | −121.6% | 24.4% |
| Return on assets | 2.1% | 7.8% |
| Equity ratio | 27.1% | 27.9% |
| Debt-to-equity | 2.69 | 2.10 |
| Current ratio | 1.57 | 1.40 |
| Revenue growth | −77.0% | 3.3% |
| Revenue per employee | 0.85 MNOK | 0.59 MNOK |
The median and “ahead of” refer to companies in the Morning class Micro in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 17, Kubera AS does better than 4% of companies in the Morning class Micro in the same sector (23,899 companies) in 2025.
Score 2023–2025
- Kubera AS
- Median: companies in the Morning class Micro in the same sector
Working capital and debt
| Measure | Company | Median | |
|---|---|---|---|
| Working capital | |||
| Receivable days All current receivables, including those on group companies, in days of revenue. |
778 days | 40 days | |
| Inventory and other current assets, days Current assets other than receivables and bank deposits, that is inventory and short-term investments, in days of revenue. |
0 days | 0 days | |
| Net working capital to revenue Current assets less bank deposits less current liabilities, divided by revenue. Negative: short-term debt funds the operations. |
64.3% | −12.4% | |
| Cash share of current assets How much of the short-term buffer is bank deposits and cash. |
8.7% | 54.9% | |
| Debt and interest burden | |||
| Interest coverage (times) Operating result divided by all financial costs. Below 1: operations do not cover the cost of the debt. |
−0.6 | 1.8 | |
| Financial costs as a share of debt All financial costs (interest, currency losses and other) divided by all debt, interest-free debt included. Not an interest rate. |
7.0% | 5.0% | |
| Long-term share of debt Long-term debt as a share of all debt. A low share means more falls due within a year. |
95.0% | 87.8% | |
The operating result is negative, so the interest coverage is negative: operations cover none of the financial costs.
Net working capital (current assets less bank deposits less current liabilities): 2.7 MNOK.
Of the financial costs of 8.9 MNOK, 6.8 MNOK is reported as interest costs in the accounts.
The median and the bar refer to companies in the Morning class Micro in the same sector in 2025. The bar shows the share of the group with a lower figure: higher is not always better, long receivable days tie up capital, for example. These figures do not count in the score.
Returns, debt against earnings and quality
| Measure | Company | Median | |
|---|---|---|---|
| Returns | |||
| Return on equity (ROE) Net result over the average of equity at the start and end of the year (the end alone when last year is missing). Not calculated with negative equity. |
−8.8% | 12.0% | |
| Return on capital employed (ROCE) Operating result over capital employed, that is total assets less current liabilities. The return regardless of how the company is financed. |
−3.2% | 7.8% | |
| Net margin Net result over revenue. The first part of the DuPont split of return on equity. |
−101.3% | 19.5% | |
| Asset turnover (revenue over assets) Revenue over total assets: how many kroner of revenue each krone of assets gives. The second part of the DuPont split. |
0.02 | 0.16 | |
| Equity multiplier Total assets over equity: 4 means three quarters is financed with debt. The third part of the DuPont split. |
3.69 | 3.09 | |
| Debt and financing | |||
| Net debt in times operating result Long-term liabilities less cash, over the operating result: roughly how many years the business must earn to repay the debt. A negative figure means more cash than long-term debt. Rough, because the accounts do not split out interest-bearing debt. Only calculated when the operating result is positive. |
– | 6.9 | |
| Fixed-asset cover Equity plus long-term liabilities over fixed assets (total assets less current assets). Below 1: fixed assets are partly financed with short-term debt. |
1.02 | 1.01 | |
| Quick ratio (without inventory) Cash plus receivables over current liabilities. Like the current ratio but without inventory and short-term investments. |
1.57 | 1.24 | |
| Quality and resilience | |||
| Effective tax rate Tax expense over profit before tax, only when the profit is positive. Far from 22% points to one-off items, tax losses carried forward or group contributions. |
– | 22.0% | |
| Operating leverage Percentage change in operating result over percentage change in revenue from last year. 3 means a 1% fall in revenue gives a 3% fall in operating result. Only calculated when revenue moved at least 2% and last year's operating result was positive. |
2.9 | 1.4 | |
| Payroll costs over revenue Payroll costs (with employer's contribution and pension) over revenue. Shows how much of revenue is a fixed cost in a service business. |
165.5% | 12.5% | |
| Revenue safety margin How far revenue can fall before the operating result is zero, assuming payroll is fixed and all other costs follow revenue. A calculation, not a measurement: depreciation and rent are also fixed, so reality is lower. |
– | 81.7% | |
| Cash runway (months) Cash over the operating loss per month, only for years with a loss. Assumes the loss continues unchanged and no new financing arrives. Capped at 120 months. |
2 mo. | 10 mo. | |
DuPont on the closing balance: net margin −101.3% × asset turnover 0.02 × multiplier 3.69 = −9.2% of equity at the end of the year. The return on equity above uses average equity and can differ slightly.
The operating result is not positive, so net debt over operating result and the safety margin are not calculated.
The median and the bar are for companies in the Morning class Micro in the same sector in 2025. The bar shows the share of the group with a lower figure: high is not always good. The figures are our own calculations from the annual accounts and do not count in the score. Open data has no depreciation, so no EBITDA, and the accounts do not split out interest-bearing debt. How we calculate
The industry or the company: what drove the result?
In 2025 the operating margin of Kubera AS fell by 147.1 percentage points. Comparable companies rose by a median 7.2 points. So the company did 154.4 points weaker than the industry, for reasons of its own.
Over 2 year-to-year changes Kubera AS moved the same way as comparable companies 0 times. About 5% of the changes in operating margin were common to the industry; the rest was the company's own.
| Year | The company | Comparable (median) | Change, company | Change, industry | The company's own |
|---|---|---|---|---|---|
| 2024 | 23.7% | 40.5% | +88.4 percentage points | −5.6 percentage points | +94.0 percentage points |
| 2025 | −123.5% | 47.7% | −147.1 percentage points | +7.2 percentage points | −154.4 percentage points |
Comparable companies are those in the same industry and Morning company class. Their change shows what hit the whole industry, the sector drivers below included. The rest is the company's own: contracts, costs, one-off items or operations. The share is approximate, and we claim no cause.
The company and its sector's drivers
Prices, rate and currency that shape the sector's year, year by year beside the operating margin of Kubera AS. The figures stand side by side; we claim no cause.
House prices (existing homes) (indeks (2015 = 100))
House prices (existing homes) rose 5.5% in 2025; the operating margin of Kubera AS fell 147.1 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| House prices (existing homes), annual average | 134.5 | 141.6 | 140.8 | 144.6 | 152.5 | 158.7 (so far) |
| Change from the year before | +10.5% | +5.2% | −0.5% | +2.7% | +5.5% | +4.1% |
| The company's operating margin | – | – | −64.8% | 23.7% | −123.5% | – |
Source: SSB (07221, CC BY 4.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Kubera AS fell 147.1 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Policy rate, annual average | 0.08 | 1.32 | 3.54 | 4.50 | 4.30 | 4.17 (so far) |
| Change from the year before | −0.28 percentage points | +1.24 percentage points | +2.22 percentage points | +0.96 percentage points | −0.20 percentage points | −0.12 percentage points |
| The company's operating margin | – | – | −64.8% | 23.7% | −123.5% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
Construction cost index for dwellings (indeks (2015 = 100))
Construction cost index for dwellings rose 4.3% in 2025; the operating margin of Kubera AS fell 147.1 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Construction cost index for dwellings, annual average | 124.2 | 135.1 | 141.1 | 146.4 | 152.7 | 158.7 (so far) |
| Change from the year before | +8.7% | +8.8% | +4.4% | +3.7% | +4.3% | +3.9% |
| The company's operating margin | – | – | −64.8% | 23.7% | −123.5% | – |
Source: SSB (08651, CC BY 4.0). Source
Consumer price index (indeks (2025 = 100))
Consumer price index rose 3.0% in 2025; the operating margin of Kubera AS fell 147.1 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Consumer price index, annual average | 84.3 | 89.2 | 94.1 | 97.0 | 100.0 | 103.0 (so far) |
| Change from the year before | +3.5% | +5.8% | +5.5% | +3.2% | +3.0% | +3.0% |
| The company's operating margin | – | – | −64.8% | 23.7% | −123.5% | – |
Source: SSB (14710, CC BY 4.0). Source
Wage index: real estate (indeks)
Wage index: real estate rose 5.2% in 2025; the operating margin of Kubera AS fell 147.1 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: real estate, annual average | 91.7 | 94.3 | 96.8 | 103.2 | 108.5 | 111.3 (so far) |
| Change from the year before | +5.2% | +2.9% | +2.6% | +6.5% | +5.2% | +2.6% |
| The company's operating margin | – | – | −64.8% | 23.7% | −123.5% | – |
Source: SSB (12314, CC BY 4.0). Source
We show the drivers and the margin side by side and claim no cause. Sensitivity per company is not computed until we have at least 10 years of accounts per company: with three years such figures are false precision.
What the numbers say
Kubera AS had an operating margin of −123.5% and an equity ratio of 27.1% in 2025, and ranks 29,068 of 30,124 in Eiendom.
From 2024 to 2025: the operating margin fell from 23.7% to −123.5% and revenue fell by 77%.
This text is generated automatically from the 2025 accounts.
Three simple methods
Suggested price: about 20 MNOK
The mean of the 1 methods below (P/E, EV/EBIT and P/B with listed multiples and a size adjustment), rounded to two significant figures. It is a calculation, not a bid or a valuation. Fewer than three methods gave a figure, so the mean is weaker than it looks.
That is about 407 NOK per share, on 49,119 shares in the shareholder register.
One method gives a figure: 20 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.5 | not meaningful |
| EV/EBIT | 19.2 | not meaningful |
| P/B | 0.7 | 20 MNOK |
The listed basis is the value at listed multiples. The estimate is lowered for size: a small-company premium of 4% on the cost of equity gives a value 38% lower. No separate marketability discount is applied, because the premium already allows for the company being small and unlisted.
The multiples are from the listed industry that matches the NACE code (68.2): R.E.I.T..
Not financial advice. The value range is a rough model estimate from listed-company multiples, not a valuation, a price target or a price offer. The actual value may differ greatly. Read more
A mechanical estimate from public accounts, not advice. A mechanical estimate from public accounts with listed multiples and fixed adjustments. Not a valuation and not advice to buy or sell. See the calculation
Figures you will not find in any register
We calculated these figures ourselves from the accounts and registers we have read. The company has not reported them and the Brønnøysund Register Centre does not publish them. They are indications and are not part of the index. How we calculate
- Personnel cost per employee
- 1.41 MNOK per employee in 2025
Comparable companies have a median of 0.26 MNOK. This company is above 96% of them (611 companies in the same industry and size class).
Payroll costs are 165% of revenue.
Payroll costs in the accounts divided by 5 employees in the business register. Payroll costs include employer's contribution and pension, so they are higher than wages. The employee count is a snapshot and can differ from the average over the accounting year. - Equity paid out or paid in
- Equity moved as the result implied in 2025.
Calculated as retained earnings at the start of the year + net result − retained earnings at the end of the year. What remains is dividends and group contributions, plus transfers to other items and corrections of earlier years. It is not a dividend figure. - Owners and leadership aged 60 or older
- Several signs that a generation change may be coming.
- The chair is 60 or older.
- The managing director is 60 or older.
- 2 of 2 on the board are 60 or older.
Not financial advice. The index, rank, signals and advice are rule-based indications from the latest filed annual accounts. They are not a credit rating, an assessment of management or a recommendation to buy, sell or do business with the company. Read more
Questions and answers
How profitable is Kubera AS?
The operating margin was −123.5% in 2025, against a median of 47.7% among companies in the Morning class Micro in the same sector. Return on assets was 2.1%. The company made a loss before tax.
How solid is Kubera AS?
The equity ratio was 27.1% in 2025 (median 27.9%). Debt-to-equity was 2.69 (median 2.10).
What is the liquidity of Kubera AS like?
The current ratio was 1.57 in 2025 (median 1.40).
How does Kubera AS compare in Eiendom?
Kubera AS ranks 29,068 of 30,124 in Eiendom for 2025. Among companies in the Morning class Micro it is number 23,046 of 23,899. Revenue changed by −77.0% from the year before.
Competitors
The 8 closest competitors in the same line of business, placed in the same matrix as the sector page: profitability up, resilience to the right. These are the companies the competitor analysis and the strategy report compare with.
Each bubble is a company: this company and its closest competitors in the same line of business and size, the same ones the competitor analysis uses. Placement is 0–100 against the whole sector and Morning company class: further right is more robust, higher up is more profitable. Bubble size is revenue. The light bubble and arrow show where the company stood the year before. Pick a profile to see fewer at a time.
| Company | Profile | Operating revenue | Operating margin | Score |
|---|---|---|---|---|
| Saltlagerveien 10 AS |  Lion |
4 MNOK | 56.8% | 76 |
| Østre Rosten 115 AS | Lion |
4 MNOK | 77.1% | 70 |
| Østre Rosten 98 A&B AS |  Beaver |
4 MNOK | 46.5% | 42 |
| Haugaland Eiendom AS |  Elephant |
4 MNOK | 32.7% | 55 |
| Ørnatua 11 AS |  Cheetah |
4 MNOK | 75.9% | 49 |
| Kubera AS (this company) | Beaver |
4 MNOK | −123.5% | 17 |
| Barstølveien 82 AS | Lion |
4 MNOK | 75.7% | 60 |
| Kirkegaten 1 Grimstad AS | Beaver |
4 MNOK | 13.1% | 50 |
| Smith-Sivertsen Eiendom AS | Beaver |
4 MNOK | −32.9% | 23 |
The selection is the closest in revenue within the same industry code. When you order, you can swap competitors. Order competitor analysis
Group accounts · 2025
26 of 100
Rank 168 of 182 groups in the Morning class Medium in Eiendom. Groups are ranked only against other groups in the same sector and class, never against single companies.
- Operating revenue, group
- 84 MNOK
- Operating profit, group
- 5 MNOK
- Profit before tax, group
- −7 MNOK
- Total assets, group
- 272 MNOK
- Equity, group
- 42 MNOK
| Key figure | The group | The company alone (2025) |
|---|---|---|
| Operating margin | 5.4% | −123.5% |
| Return on assets | 1.8% | 2.1% |
| Equity ratio | 15.4% | 27.1% |
| Current ratio | 0.72 | 1.57 |
| Revenue growth | −3.3% | −77.0% |
Group index in earlier years: 2023: 27 (256 of 288), 2024: 32 (183 of 208).
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).
Group structure · 2025
9 companies in the group according to the shareholder register for 2025. A company counts as a subsidiary when a Norwegian company owns more than half of its shares.
Private persons own 100% of the shares in Skålvold Eiendom AS. Persons are not shown by name.
Skålvold Eiendom AS has not filed group accounts in open data, so the group has no index of its own. Each company has its own accounts.
The group in figures
- Sectors
- Overnatting og servering (1 company), Eiendom (8 companies) 9 of 9 companies in the tree have accounts with us. Sectors are sorted by the companies' own revenue, which includes sales between the group's companies.
- Employees in Norway
- 72 in all. Narvik 72 Registered employees in the Central Coordinating Register, by the municipality of the business address. Employees may work elsewhere.
- Loss
- 4 companies: Kubera AS, Frydenlundgt 9 AS, Sleggesvingen 15 AS, Victoria Havn AS
- Changed 2024–2025
- 1 company left.
A subsidiary with negative equity or a loss may be backed by the group, for example with group contributions or guarantees. It is an indication of what is worth asking about, not an assessment.
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.
Source: the Norwegian Tax Administration's shareholder register 2025 (majority owner with more than 50 % of the shares). Voting agreements and ownership through other countries are not included.
Ownership and roles
Loading roles …
Source: Central Coordinating Register, fetched 1 November 2026. Only names are shown.
- Parent company
- Parent does not consolidate the company
Source: GLEIF (Global Legal Entity Identifier Foundation), fetched 31 October 2026. The parent is the one the company itself reported to GLEIF.
Shareholders (2025)
- Number of shareholders
- 4 (one owner holds more than half)
- Largest owner
- 77.3% · top three 97.9%
- Split
- companies 100% · private persons 0% · foreign 0%
- Owned from the same municipality
- 100%
- Group chain
-
Owned by: Skålvold Eiendom AS (77%)
Ultimate owner: private person
- Skålvold Eiendom AS · 77.3%
- Teknologiveien Eiendom Holding AS · 15.8%
- Gunnar Skålvold AS · 4.8%
- Kubera AS · 2.1%
Change 2007–2025:
51% of the shares changed owner (2 new and 3 departed owners). The majority owner changed.
New owners (companies): Kubera AS, Teknologiveien Eiendom Holding AS
Departed (companies): Hurtigruten Global Sales AS, KONGENSGT. 38 AS
Majority owner of: Sleggesvingen 15 AS (100%), Frydenlundgt 9 AS (100%), Grand Royal Eiendom AS (100%), Ornes Eiendom AS (100%), Domuskvartalet AS (100%), Victoria Havn AS (100%)
The portfolio: 7 of the companies it owns shares in have accounts with us, 6 of them as majority owner. The average index is 43. 0 have negative equity and 4 made a loss in the latest year.
Holds shares in: Ornes Eiendom AS (100%), Sleggesvingen 15 AS (100%), Domuskvartalet AS (100%), Kubera AS (2%), Frydenlundgt 9 AS (100%), Grand Royal Eiendom AS (100%), Victoria Havn AS (100%)
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.
Is this your company? Suggest changes or add information
Figures last fetched 8 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 36 | 54 | 17 | |
| Rank | 19,951 | 11,880 | 29,068 | |
| Operating margin | −64.8% | 23.7% | −123.5% | |
| Return on assets | 2.7% | 5.9% | 2.1% | |
| Equity ratio | 42.1% | 29.9% | 27.1% | |
| Current ratio | 2.48 | 1.34 | 1.57 | |
| Revenue growth | – | 305.7% | −77.0% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 4.6 MNOK | 18.5 MNOK | 4.3 MNOK |
| Operating profit | −3.0 MNOK | 4.4 MNOK | −5.3 MNOK |
| Profit before tax | −12.1 MNOK | −7.6 MNOK | −5.2 MNOK |
| Tax expense | 0.2 MNOK | 1.3 MNOK | −0.9 MNOK |
| Net profit | −12.3 MNOK | −8.9 MNOK | −4.3 MNOK |
| Financial expenses | 18.0 MNOK | 17.8 MNOK | 8.9 MNOK |
| Total assets | 217.4 MNOK | 171.7 MNOK | 173.1 MNOK |
| Current assets | 24.9 MNOK | 6.2 MNOK | 10.0 MNOK |
| Equity | 91.5 MNOK | 51.3 MNOK | 47.0 MNOK |
| Retained earnings | 43.4 MNOK | 3.2 MNOK | −1.1 MNOK |
| Total liabilities | 125.9 MNOK | 120.4 MNOK | 126.2 MNOK |
| Current liabilities | 10.0 MNOK | 4.7 MNOK | 6.3 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 8 November 2026, accounts id 7113441.
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