Multiconnect 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
Score · fiscal year 2025
38of 100
How to read this: the company is ahead of 30 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 2,895 of 4,146 · What are Morning company classes?
Place in the whole sector: 4,501 of 6,322 · Forretningsmessig tjenesteyting
Profile
Beaver · Builder
Lower profitability, lower resilience
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 30 and resilience 21 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
Multiconnect AS is 12 points below the median for companies in the Morning class Micro in the same sector in 2025.
Median score 50 among 4,139 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin 0.1% (median 4.5%) and equity ratio 2.6% (median 30.8%).
How it has gone · 2023–2025
Revenue is about the same: 1.0 MNOK in 2025 against 1.0 MNOK in 2023. The operating margin rose from −1.4% in 2023 to 0.1% in 2025. The equity ratio fell from 6.3% in 2023 to 2.6% in 2025.
Amounts in the reporting currency. The full year-by-year table is further down under «Details». See every figure year by year
Multiconnect AS has a score of 38 for 2025, rank 4,501 of 6,322 in the sector.
Strongest: Growth: percentile 75 against peers, revenue growth 24.4% against a median of 8.7%.
Weakest: Solidity: percentile 13 against peers, equity ratio 2.6% against a median of 30.8%. Profitability: percentile 30 against peers, operating margin 0.1% against a median of 4.5%.
Worth a closer look
- The equity ratio is very low. Could the company absorb a bad year, and does it need more equity? Based on: equity ratio 2.6% (median 30.8%).
- Strong growth with weak liquidity. Is the growth financed, or does it tie up capital the company does not have? Based on: revenue growth 24.4% (median 8.7%); current ratio 1.03 (median 1.33).
- 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 85 days (median 39 days).
- 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
Worth a closer look
- watch
The equity ratio is very low. Could the company absorb a bad year, and does it need more equity?
Based on: Equity ratio 2.6% (median 30.8%).
- watch
Strong growth with weak liquidity. Is the growth financed, or does it tie up capital the company does not have?
Based on: Revenue growth 24.4% (median 8.7%); Current ratio 1.03 (median 1.33).
- 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 85 days (median 39 days).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 0.0% 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
No anomalies found in the figures.
Scenario analysis: the sector's weakest year
We have no accounts for 2021, the sector's weakest year, for this company.
The sector's weakest year was 2021, 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 | 30 | weight 40% |
|---|---|---|
| Solidity | 13 | weight 20% |
| Liquidity | 34 | weight 5% |
| Growth | 75 | weight 25% |
| Consistency | 32 | weight 10% |
Three goals: profitability 40%, growth 25%, resilience 35%. Why these weights?
Durability: 31 (average over 2 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 | 1 MNOK | 3 MNOK |
| Operating margin | 0.1% | 4.5% |
| Profit margin | 0.8% | 4.0% |
| Return on assets | 0.3% | 8.9% |
| Equity ratio | 2.6% | 30.8% |
| Debt-to-equity | 36.88 | 1.44 |
| Current ratio | 1.03 | 1.33 |
| Revenue growth | 24.4% | 8.7% |
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 38, Multiconnect AS does better than 30% of companies in the Morning class Micro in the same sector (4,146 companies) in 2025.
Score 2023–2025
- Multiconnect 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. |
85 days | 39 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. |
874 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. |
3.0% | −8.3% | |
| Cash share of current assets How much of the short-term buffer is bank deposits and cash. |
1.5% | 53.7% | |
| 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. |
11.5 | 4.0 | |
| 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. |
0.0% | 1.2% | |
| Long-term share of debt Long-term debt as a share of all debt. A low share means more falls due within a year. |
– | 22.0% | |
Net working capital (current assets less bank deposits less current liabilities): 0.0 MNOK.
Of the financial costs of 0.0 MNOK, 0.0 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.
The industry or the company: what drove the result?
In 2025 the operating margin of Multiconnect AS rose by 14.2 percentage points. Comparable companies rose by a median 0.0 points. So the company did 14.2 points better than the industry, for reasons of its own.
Over 2 year-to-year changes Multiconnect AS moved the same way as comparable companies 1 times. About 1% 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 | −14.1% | 4.5% | −12.6 percentage points | −0.3 percentage points | −12.4 percentage points |
| 2025 | 0.1% | 4.5% | +14.2 percentage points | +0.0 percentage points | +14.2 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 Multiconnect AS. The figures stand side by side; we claim no cause.
Service prices: business support services (indeks (2021 = 100))
Service prices: business support services rose 3.8% in 2025; the operating margin of Multiconnect AS rose 14.2 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Service prices: business support services, annual average | 100.0 | 104.9 | 111.1 | 116.9 | 121.3 | 122.3 (so far) |
| Change from the year before | – | +4.9% | +5.9% | +5.2% | +3.8% | +0.8% |
| The company's operating margin | – | – | −1.4% | −14.1% | 0.1% | – |
Source: SSB (14335, CC BY 4.0). Source
Turnover index: administrative and support services (indeks (2021 = 100))
Turnover index: administrative and support services rose 5.8% in 2025; the operating margin of Multiconnect AS rose 14.2 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Turnover index: administrative and support services, annual average | 99.5 | 117.4 | 126.0 | 130.8 | 138.4 | 141.3 (so far) |
| Change from the year before | +5.3% | +17.9% | +7.4% | +3.8% | +5.8% | +2.1% |
| The company's operating margin | – | – | −1.4% | −14.1% | 0.1% | – |
Source: SSB (13863, CC BY 4.0). Source
Consumer price index (indeks (2025 = 100))
Consumer price index rose 3.0% in 2025; the operating margin of Multiconnect AS rose 14.2 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 | – | – | −1.4% | −14.1% | 0.1% | – |
Source: SSB (14710, CC BY 4.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Multiconnect AS rose 14.2 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 | – | – | −1.4% | −14.1% | 0.1% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
Wage index: business support services (indeks)
Wage index: business support services rose 5.7% in 2025; the operating margin of Multiconnect AS rose 14.2 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: business support services, annual average | 81.5 | 85.5 | 89.7 | 94.8 | 100.3 | 106.3 (so far) |
| Change from the year before | +3.5% | +4.9% | +4.9% | +5.7% | +5.7% | +6.0% |
| The company's operating margin | – | – | −1.4% | −14.1% | 0.1% | – |
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.
What the numbers say
Multiconnect AS had an operating margin of 0.1% and an equity ratio of 2.6% in 2025, and ranks 4,501 of 6,322 in Forretningsmessig tjenesteyting.
From 2024 to 2025: went from a loss to a profit before tax and the operating margin rose from −14.1% to 0.1%.
This text is generated automatically from the 2025 accounts.
Three simple methods
One method gives a figure: 0 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 17.3 | not meaningful |
| EV/EBIT | 14.1 | not meaningful |
| P/B | 2.7 | 0 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 NACE code has no listed industry of its own in the table, so the multiples are the sector median: Business & Consumer Services, Office Equipment & Services.
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
Questions and answers
How profitable is Multiconnect AS?
The operating margin was 0.1% in 2025, against a median of 4.5% among companies in the Morning class Micro in the same sector. Return on assets was 0.3%.
How solid is Multiconnect AS?
The equity ratio was 2.6% in 2025 (median 30.8%). Debt-to-equity was 36.88 (median 1.44).
What is the liquidity of Multiconnect AS like?
The current ratio was 1.03 in 2025 (median 1.33).
How does Multiconnect AS compare in Forretningsmessig tjenesteyting?
Multiconnect AS ranks 4,501 of 6,322 in Forretningsmessig tjenesteyting for 2025. Among companies in the Morning class Micro it is number 2,895 of 4,146. Revenue changed by 24.4% 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 |
|---|---|---|---|---|
| JK Service Geilo AS |  Elephant |
1 MNOK | −6.6% | 34 |
| D.H Eiendom AS |  Lion |
1 MNOK | 39.8% | 62 |
| Blikkenslagermester Leif Hansen Holding AS |  Beaver |
1 MNOK | 5.8% | 40 |
| Marine Seven AS | Elephant |
1 MNOK | −50.6% | 26 |
| Team T AS | Beaver |
1 MNOK | −4.8% | 20 |
| Multiconnect AS (this company) | Beaver |
1 MNOK | 0.1% | 38 |
| Glørstad Graving AS | Beaver |
1 MNOK | −28.3% | 25 |
| Supply AS | Beaver |
1 MNOK | −123.2% | 13 |
| Sunndal Maskinutleie AS |  Cheetah |
1 MNOK | 52.2% | 68 |
The selection is the closest in revenue within the same industry code. When you order, you can swap competitors. Order competitor analysis
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.
Group structure · 2025
3 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 Kar Invest AS. Persons are not shown by name.
Kar Invest 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
- Forretningsmessig tjenesteyting (2 companies), Handel (1 company) 3 of 3 companies in the tree have accounts with us. Sectors are sorted by the companies' own revenue, which includes sales between the group's companies.
- Negative equity
- 1 company: Heatmed Sport & Medical Care AS
- Loss
- 1 company: Kar Invest 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.
-
Kar Invest AS
- Multiconnect AS you are here
- Heatmed Sport & Medical Care AS
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.
From the Central Coordinating Register
- Org. no.
- 984916825
- Legal form
- AS · part of a group
- Sector
- Forretningsmessig tjenesteyting (77.390)
- Purpose
- Investeringe i og forvaltning av eiendom, kjøp, salg og utleie av driftsmidler samt øvrig handel og tjenester.
- Morning company class
- Micro
- Employees
- 0–4 (not registered) Payroll costs in the accounts: 0.1 MNOK (2025).
- Founded
- 28 September 2002 24 years in operation
- Share capital
- 0.70 MNOK
- Business address
- Isebakkeveien 50, 1788 HALDEN
- Municipality
- Halden rank 13 of 13 in KOSTRA group 10
- Audit
- Audit opted out from 7 December 2011
- Latest accounts filed
- 2025
- VAT registered
- Yes
- Former names
- Borgeskogen Eiendom AS until 2008
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 7 November 2026. Only names are shown.
Shareholders (2025)
- Number of shareholders
- 1 (one owner)
- Largest owner
- 100.0%
- Split
- companies 100% · private persons 0% · foreign 0%
- Owned from the same municipality
- 100%
- Group chain
-
Owned by: Kar Invest AS (100%)
Ultimate owner: private person
The owner: the majority owner Kar Invest AS (holds 100%) made a loss in 2025. A weak parent can affect the subsidiary through group contributions, loans and guarantees. It is an indication to watch, not an assessment of the company.
- Kar Invest AS · 100.0%
Change 2007–2025: no material change in the owners.
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 9 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 23 | – | 38 | |
| Rank | 4,683 | – | 4,501 | |
| Operating margin | −1.4% | −14.1% | 0.1% | |
| Return on assets | −0.5% | −3.9% | 0.3% | |
| Equity ratio | 6.3% | 2.4% | 2.6% | |
| Current ratio | 1.07 | 1.02 | 1.03 | |
| Revenue growth | – | −21.9% | 24.4% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 1.0 MNOK | 0.8 MNOK | 1.0 MNOK |
| Operating profit | 0.0 MNOK | −0.1 MNOK | 0.0 MNOK |
| Profit before tax | 0.0 MNOK | −0.1 MNOK | 0.0 MNOK |
| Tax expense | – | – | – |
| Net profit | 0.0 MNOK | −0.1 MNOK | 0.0 MNOK |
| Financial expenses | 0.0 MNOK | 0.0 MNOK | 0.0 MNOK |
| Total assets | 2.7 MNOK | 2.6 MNOK | 2.7 MNOK |
| Current assets | 2.7 MNOK | 2.6 MNOK | 2.7 MNOK |
| Equity | 0.2 MNOK | 0.1 MNOK | 0.1 MNOK |
| Retained earnings | −0.5 MNOK | −0.6 MNOK | −0.6 MNOK |
| Total liabilities | 2.5 MNOK | 2.6 MNOK | 2.6 MNOK |
| Current liabilities | 2.5 MNOK | 2.6 MNOK | 2.6 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 9 November 2026, accounts id 6865512.
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