Morgenlien AS

Org. no. 984601832 · Lillestrøm · 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

Employees 8 registered 10 November 2023
Operating revenue · 2025 11.7 MNOK Small
Net profit · 2025 −4.3 MNOK
Equity · 2025 44.3 MNOK
Founded 2002 24 years in operation
Sector Transport og lagring 52.240
Quick check · fiscal year 2025

Is the company run well?

Five key figures against companies in the Morning class Small in the same sector. Green is better than most, amber about like the industry and red weaker than most.

  • Profitability · operating margin −8.1% Weaker than the industry Industry: 4.3%
  • Returns · return on assets 2.4% Weaker than the industry Industry: 9.7%
  • Solidity · equity ratio 94.0% Better than the industry Industry: 34.3%
  • Liquidity · current ratio 9.53 Better than the industry Industry: 1.45
  • Growth · revenue growth −1.9% Weaker than the industry Industry: 6.2%

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

41of 100

How to read this: the company is ahead of 33 % of companies in the Morning class Small in the same sector in 2025. What does this mean?

Rank in the Morning class Small: 939 of 1,392 · What are Morning company classes?
Place in the whole sector: 3,373 of 4,998 · Transport og lagring

Profile

Elephant · Steward

Lower profitability, high resilience

Position against comparable companies in 2025, not a verdict on the company. Based on profitability 15 and resilience 83 out of 100 among companies in the Morning class Small in the same sector in 2025. Methodology

Against the sector

Morgenlien AS is 11 points below the median for companies in the Morning class Small in the same sector in 2025.

Median score 52 among 1,392 companies.

Against companies in the Morning class Small in the same sector in 2025: operating margin −8.1% (median 4.3%) and equity ratio 94.0% (median 34.3%).

Source: Register of Company Accounts and Central Coordinating RegisterFetched 6 November 2026Report an issue
Development

How it has gone · 2023–2025

Revenue is about the same: 11.7 MNOK in 2025 against 11.8 MNOK in 2023. The operating margin fell from 7.8% in 2023 to −8.1% in 2025. The equity ratio is about the same: 94.0% in 2025 against 94.7% in 2023.

Score · 2025 41 −31 points since 2023 (weaker)
Operating revenue · 2025 11.7 MNOK about the same since 2023
Net profit · 2025 −4.3 MNOK −309% since 2023 (weaker)
Operating margin · 2025 −8.1% −15.9 pp since 2023 (weaker)
Equity ratio · 2025 94.0% about the same since 2023
Current ratio · 2025 9.53 −5.79 since 2023 (weaker)

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 figure202320242025
Operating revenue11.8 MNOK12.0 MNOK11.7 MNOK
Operating profit0.9 MNOK−0.2 MNOK−1.0 MNOK
Net profit2.1 MNOK−4.9 MNOK−4.3 MNOK
Total assets56.7 MNOK51.8 MNOK47.1 MNOK
Equity53.7 MNOK48.6 MNOK44.3 MNOK
Total liabilities3.0 MNOK3.2 MNOK2.8 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.
984601832
Legal form
AS
Sector
Transport og lagring (52.240)
Purpose
Anleggs- og transportvirksomhet, samt annet som står i forbindelse med dette, herunder investering i selskaper med samme formål.
Morning company class
Small
Employees
8 registered 10 November 2023
Founded
6 May 2002 24 years in operation
Share capital
0.43 MNOK
Business address
Prost Stabels vei 8, 2019 SKEDSMOKORSET (LILLESTRØM)
Municipality
Lillestrøm rank 7 of 11 in KOSTRA group 12
Latest accounts filed
2025
VAT registered
Yes
LEI
636700P04BTP3WLJ5Z80 renews 20 March 2027
The company's business municipality, Lillestrøm. The map shows the municipality, not the address. Map source: Kartverket (CC BY 4.0).

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

Summary analysis

Morgenlien AS has a score of 41 for 2025, rank 3,373 of 4,998 in the sector.

Strongest: Solidity: percentile 99 against peers, equity ratio 94.0% against a median of 34.3%. Liquidity: percentile 99 against peers, current ratio 9.53 against a median of 1.45.

Weakest: Profitability: percentile 15 against peers, operating margin −8.1% against a median of 4.3%. Growth: percentile 23 against peers, revenue growth −1.9% against a median of 6.2%.

Worth a closer look

Written by fixed rules from the figures. Describes the figures, does not explain causes. Not investment or financial advice. How the summary is made

Indications · 2025

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) −0.2 (median 5.3); Financial costs as a share of debt 191.4% (median 2.0%).

  • watch

    The company made a loss before tax. Are these one-off items or a pattern?

    Based on: Profit margin −36.8% (median 3.9%).

  • 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 −8.1% (median 4.3%).

  • 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 114 days (median 49 days).

Indications based on the latest annual accounts from open data. Not investment or financial advice.

Financial costs were 191.4% 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.

Stress test · 2022

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 2.3%. Based on the 10 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology

Components · 2025

What the score is made of

Profitability15 weight 40%
Solidity99 weight 20%
Liquidity99 weight 5%
Growth23 weight 25%
Consistency43 weight 10%

Three goals: profitability 40%, growth 25%, resilience 35%. Why these weights?

Durability: 52 (average over 3 years)

Index version 3. Data completeness 100%: the share of the weights that had data.

Key figures · 2025

The numbers behind the score

The numbers behind the score · 2025
MeasureCompanyMedianAhead of
Operating revenue12 MNOK20 MNOK
Operating margin −8.1% 4.3% 5 %
Profit margin −36.8% 3.9% shown, not part of the index
Return on assets 2.4% 9.7% 25 %
Equity ratio 94.0% 34.3% 99 %
Debt-to-equity 0.06 1.59 99 %
Current ratio 9.53 1.45 99 %
Revenue growth −1.9% 6.2% 28 %
Revenue per employee1.47 MNOK1.62 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 41, Morgenlien AS does better than 33% of companies in the Morning class Small in the same sector (1,392 companies) in 2025.

Over time

Score 2023–2025

CompanyMedian0255075100202320242025
  • Morgenlien AS
  • Median: companies in the Morning class Small in the same sector
Working capital and debt · 2025

Working capital and debt

Working capital and debt · 2025
MeasureCompanyMedianHigher than
Working capital
Receivable days
All current receivables, including those on group companies, in days of revenue.
114 days 49 days 89 %
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.
212 days 0 days 99 %
Net working capital to revenue
Current assets less bank deposits less current liabilities, divided by revenue. Negative: short-term debt funds the operations.
65.1% −3.3% 98 %
Cash share of current assets
How much of the short-term buffer is bank deposits and cash.
61.2% 42.5% 75 %
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.
−0.2 5.3 21 %
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.
191.4% 2.0% 100 %
Long-term share of debt
Long-term debt as a share of all debt. A low share means more falls due within a year.
– 23.4% not compared

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): 7.6 MNOK.

Of the financial costs of 5.4 MNOK, 0.0 MNOK is reported as interest costs in the accounts.

The median and the bar refer to companies in the Morning class Small 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.

Our calculations Returns and quality · 2025

Returns, debt against earnings and quality

Returns, debt against earnings and quality · 2025
MeasureCompanyMedianHigher than
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.
−9.3% 16.3% 16 %
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.
−2.1% 15.0% 17 %
Net margin
Net result over revenue. The first part of the DuPont split of return on equity.
−36.8% 3.2% 1 %
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.
0.25 2.06 3 %
Equity multiplier
Total assets over equity: 4 means three quarters is financed with debt. The third part of the DuPont split.
1.06 2.59 1 %
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.
– −0.8 not compared
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.
– 1.43 not compared
Quick ratio (without inventory)
Cash plus receivables over current liabilities. Like the current ratio but without inventory and short-term investments.
7.14 1.43 98 %
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% not compared
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.
– 1.6 not compared
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.
44.8% 32.6% 80 %
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.
– 16.3% not compared
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.
120 mo. 22 mo. 92 %

DuPont on the closing balance: net margin −36.8% × asset turnover 0.25 × multiplier 1.06 = −9.8% 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 Small 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 Morgenlien AS fell by 6.4 percentage points. Comparable companies fell by a median 0.3 points. So the company did 6.1 points weaker than the industry, for reasons of its own.

Over 2 year-to-year changes Morgenlien AS moved the same way as comparable companies 1 times. About 3% of the changes in operating margin were common to the industry; the rest was the company's own.

The operating margin of Morgenlien AS against comparable companies, year by year
YearThe companyComparable (median) Change, companyChange, industryThe company's own
2024−1.7%4.6% −9.5 percentage points −0.2 percentage points −9.3 percentage points
2025−8.1%4.3% −6.4 percentage points −0.3 percentage points −6.1 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 Morgenlien AS. The figures stand side by side; we claim no cause.

Service prices: transport and storage (indeks (2021 = 100))

Service prices: transport and storage per year and the operating margin of Morgenlien AS
Measure2023202420252026
Service prices: transport and storage, annual average––114.6119.3 (so far)
Change from the year before–––+4.1%
The company's operating margin7.8%−1.7%−8.1%–

Source: SSB (14335, CC BY 4.0). Source

Turnover index: transport and storage (49–53, incl. shipping) (indeks (2021 = 100))

Turnover index: transport and storage (49–53, incl. shipping) rose 2.6% in 2025; the operating margin of Morgenlien AS fell 6.4 percentage points.

Turnover index: transport and storage (49–53, incl. shipping) per year and the operating margin of Morgenlien AS
Measure202120222023202420252026
Turnover index: transport and storage (49–53, incl. shipping), annual average99.6124.2125.0128.8132.2137.4 (so far)
Change from the year before−2.2%+24.7%+0.7%+3.1%+2.6%+3.9%
The company's operating margin––7.8%−1.7%−8.1%–

Source: SSB (13863, CC BY 4.0). Source

Oil price (export price of crude oil) (kr per fat)

Oil price (export price of crude oil) fell 17.6% in 2025; the operating margin of Morgenlien AS fell 6.4 percentage points.

Oil price (export price of crude oil) per year and the operating margin of Morgenlien AS
Measure202120222023202420252026
Oil price (export price of crude oil), annual average609979877859708881 (so far)
Change from the year before+61.1%+60.8%−10.5%−2.0%−17.6%+24.5%
The company's operating margin––7.8%−1.7%−8.1%–

Source: SSB (08799, CC BY 4.0). Source

Consumer price index (indeks (2025 = 100))

Consumer price index rose 3.0% in 2025; the operating margin of Morgenlien AS fell 6.4 percentage points.

Consumer price index per year and the operating margin of Morgenlien AS
Measure202120222023202420252026
Consumer price index, annual average84.389.294.197.0100.0103.0 (so far)
Change from the year before+3.5%+5.8%+5.5%+3.2%+3.0%+3.0%
The company's operating margin––7.8%−1.7%−8.1%–

Source: SSB (14710, CC BY 4.0). Source

Policy rate (prosent)

Policy rate fell 0.20 percentage points in 2025; the operating margin of Morgenlien AS fell 6.4 percentage points.

Policy rate per year and the operating margin of Morgenlien AS
Measure202120222023202420252026
Policy rate, annual average0.081.323.544.504.304.17 (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––7.8%−1.7%−8.1%–

Source: Norges Bank (IR, NLOD 2.0). Source

Wage index: land transport (indeks)

Wage index: land transport rose 5.1% in 2025; the operating margin of Morgenlien AS fell 6.4 percentage points.

Wage index: land transport per year and the operating margin of Morgenlien AS
Measure202120222023202420252026
Wage index: land transport, annual average87.591.195.7101.0106.2108.9 (so far)
Change from the year before+3.3%+4.1%+5.1%+5.5%+5.1%+2.5%
The company's operating margin––7.8%−1.7%−8.1%–

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.

Analysis · 2025

What the numbers say

Morgenlien AS had an operating margin of −8.1% and an equity ratio of 94.0% in 2025, and ranks 3,373 of 4,998 in Transport og lagring.

From 2024 to 2025: the operating margin fell from −1.7% to −8.1%.

This text is generated automatically from the 2025 accounts.

Estimated value · 2025

Three simple methods

Our calculations

Suggested price: about 49 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 114,754 NOK per share, on 427 shares in the shareholder register.

One method gives a figure: 49 MNOK.

MethodInputMultipleListed basisEstimate
P/E Net profit (mean 2023–2025): −2.4 MNOK 19.6 – not meaningful
EV/EBIT Operating profit (mean 2023–2025): −0.1 MNOK 17.7 – not meaningful
P/B Equity: 44.3 MNOK 1.8 80 MNOK 49 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 (52): Transportation.

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

Our calculations

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
0.66 MNOK per employee in 2025
Comparable companies have a median of 0.56 MNOK. This company is above 68% of them (1,115 companies in the same industry and size class).
Payroll costs are 45% of revenue.
Payroll costs in the accounts divided by 8 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.
  • 1 of 1 on the board are 60 or older.
Age is this year minus the birth year in the registers and can be a year off. It says something about age, not about anyone planning to step down.

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

2025

Questions and answers

How profitable is Morgenlien AS?

The operating margin was −8.1% in 2025, against a median of 4.3% among companies in the Morning class Small in the same sector. Return on assets was 2.4%. The company made a loss before tax.

How solid is Morgenlien AS?

The equity ratio was 94.0% in 2025 (median 34.3%). Debt-to-equity was 0.06 (median 1.59).

What is the liquidity of Morgenlien AS like?

The current ratio was 9.53 in 2025 (median 1.45).

How does Morgenlien AS compare in Transport og lagring?

Morgenlien AS ranks 3,373 of 4,998 in Transport og lagring for 2025. Among companies in the Morning class Small it is number 939 of 1,392. Revenue changed by −1.9% from the year before.

2025

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.

Taklift AS: 14 / 83Troms Losseservice AS: 89 / 24Terminallasting AS: 70 / 80BRØDR. Haugen AS: 62 / 87Lofoten Godsterminal AS: 17 / 79Finnsnes Skipsekspedisjon AS: 92 / 25Morgenlien AS: 15 / 83Losseteamet AS: 33 / 68Stokkvågen Ekspedisjon AS: 11 / 4000252550507575100100Resilience, percentile against peers →↑ Profitability, percentile against peers

CompanyProfileOperating revenueOperating marginScore
Taklift AS Elephant 23 MNOK −3.4% 35
Troms Losseservice AS Cheetah 19 MNOK 13.5% 54
Terminallasting AS Lion 17 MNOK 16.3% 58
BRØDR. Haugen AS Lion 15 MNOK 9.6% 61
Lofoten Godsterminal AS Elephant 14 MNOK −1.2% 39
Finnsnes Skipsekspedisjon AS Cheetah 13 MNOK 17.9% 68
Morgenlien AS (this company) Elephant 12 MNOK −8.1% 41
Losseteamet AS Elephant 9 MNOK 0.7% 45
Stokkvågen Ekspedisjon AS Beaver 4 MNOK −10.2% 25

The selection is the closest in revenue within the same industry code. When you order, you can swap competitors. Order competitor analysis

Group structure · 2025

2 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 Morgenlien AS. Persons are not shown by name.

Morgenlien 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
Transport og lagring (2 companies) 2 of 2 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
44 in all. Bærum 36, Lillestrøm 8 Registered employees in the Central Coordinating Register, by the municipality of the business address. Employees may work elsewhere.
Loss
2 companies: Østkran AS, Morgenlien AS

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.

  • Morgenlien AS you are here operating · index 41 · number 3373 of 4998 in Transport og lagring
    • Østkran AS 100% owned · operating · index 15 · number 4781 of 4998 in Transport og lagring

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
1 (one owner)
Largest owner
100.0%
Split
companies 0% · private persons 100% · foreign 0%
Owned from the same municipality
100%
Group chain
Ultimate owner: private person

Change 2007–2025: no material change in the owners.

Majority owner of: Østkran AS (100%)

The portfolio: 3 of the companies it owns shares in have accounts with us, 1 of them as majority owner. The average index is 43. 0 have negative equity and 1 made a loss in the latest year.

Holds shares in: TL Eiendom AS (5%), Østkran AS (100%), Transportservice Lillestrøm AS (50%)

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.

Report an issue

Is this your company? Suggest changes or add information

Figures last fetched 6 November 2026.

Details

Year by year · 2023–2025

Key figure202320242025Trend
Index724441
Rank7792,8973,373
Operating margin7.8%−1.7%−8.1%
Return on assets4.8%4.8%2.4%
Equity ratio94.7%93.9%94.0%
Current ratio15.3210.939.53
Revenue growth–1.2%−1.9%

Accounts

From the Brønnøysund Register Centre, in the company's reporting currency (NOK).

Key figure202320242025
Operating revenue11.8 MNOK12.0 MNOK11.7 MNOK
Operating profit0.9 MNOK−0.2 MNOK−1.0 MNOK
Profit before tax2.6 MNOK−4.6 MNOK−4.3 MNOK
Tax expense0.5 MNOK0.3 MNOK0.0 MNOK
Net profit2.1 MNOK−4.9 MNOK−4.3 MNOK
Financial expenses0.1 MNOK7.1 MNOK5.4 MNOK
Total assets56.7 MNOK51.8 MNOK47.1 MNOK
Current assets45.6 MNOK34.6 MNOK27.1 MNOK
Equity53.7 MNOK48.6 MNOK44.3 MNOK
Retained earnings53.0 MNOK48.0 MNOK43.6 MNOK
Total liabilities3.0 MNOK3.2 MNOK2.8 MNOK
Current liabilities3.0 MNOK3.2 MNOK2.8 MNOK

Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 6 November 2026, accounts id 6808884.