Bel-Mar AS
Score · fiscal year 2025
63of 100
How to read this: the company is ahead of 79 % of companies in the Morning class Large in the same sector in 2025. What does this mean?
Rank in the Morning class Large: 115 of 541 · What are Morning company classes?
Place in the whole sector: 5,655 of 22,951 · Handel
Profile
Lion · Leader
High profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 59 and solidity 58 out of 100 among companies in the Morning class Large in the same sector in 2025. Methodology
Against the sector
Bel-Mar AS is 13 points above the median for companies in the Morning class Large in the same sector in 2025.
Median score 50 among 541 companies.
Against companies in the Morning class Large in the same sector in 2025: operating margin 2.6% (median 2.5%) and equity ratio 35.7% (median 30.9%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 702 MNOK | 1,119 MNOK |
| Operating margin | 2.6% | 2.5% |
| Profit margin | 2.6% | 2.5% |
| Return on assets | 13.9% | 10.2% |
| Equity ratio | 35.7% | 30.9% |
| Debt-to-equity | 1.80 | 2.23 |
| Current ratio | 1.51 | 1.30 |
| Revenue growth | 19.7% | 6.9% |
| Revenue per employee | 140.40 MNOK | 12.49 MNOK |
The median and “ahead of” refer to companies in the Morning class Large in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 63, Bel-Mar AS does better than 79% of companies in the Morning class Large in the same sector (541 companies) in 2025.
Score 2023–2025
- Bel-Mar AS
- Median: companies in the Morning class Large in the same sector
Bel-Mar AS has a score of 63 for 2025, rank 5,655 of 22,951 in the sector.
Strongest: Growth: percentile 80 against peers, revenue growth 19.7% against a median of 6.9%. Liquidity: percentile 66 against peers, current ratio 1.51 against a median of 1.30.
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
Bel-Mar AS had an operating margin of 2.6% and an equity ratio of 35.7% in 2025, and ranks 5,655 of 22,951 in Handel.
From 2024 to 2025: revenue grew by 20%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 47 MNOK and 167 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 143 MNOK |
| EV/EBIT | 8.0 | 167 MNOK |
| P/B | 1.0 | 47 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 0.0% 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 2022, the sector's weakest year, for this company.
The sector's weakest year was 2022, with a median operating margin of 1.5%. Based on the 11 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 59 | weight 30% |
|---|---|---|
| Solidity | 58 | weight 25% |
| Liquidity | 66 | weight 15% |
| Growth | 80 | weight 15% |
| Consistency | 62 | weight 15% |
Durability: 64 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Bel-Mar AS?
The operating margin was 2.6% in 2025, against a median of 2.5% among companies in the Morning class Large in the same sector. Return on assets was 13.9%.
How solid is Bel-Mar AS?
The equity ratio was 35.7% in 2025 (median 30.9%). Debt-to-equity was 1.80 (median 2.23).
What is the liquidity of Bel-Mar AS like?
The current ratio was 1.51 in 2025 (median 1.30).
How does Bel-Mar AS compare in Handel?
Bel-Mar AS ranks 5,655 of 22,951 in Handel for 2025. Among companies in the Morning class Large it is number 115 of 541. Revenue changed by 19.7% from the year before.
From the Central Coordinating Register
- Org. no.
- 985615780
- Legal form
- AS
- Sector
- Handel (46.322)
- Morning company class
- Large
- Employees
- 5 registered 10 October 2026
- Founded
- 7 April 2003 23 years in operation
- Share capital
- 0.19 MNOK
- Business address
- Bjørgegrend 60, 5141 FYLLINGSDALEN (BERGEN)
- Municipality
- Bergen rank 8 of 11 in KOSTRA group 12
- Latest accounts filed
- 2025
- Website
- www.bel-mar.no
- LEI
- 2549007ZWYHCJPCI6K24 renews 3 January 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
Ownership and roles
Loading roles …
Source: Central Coordinating Register, fetched 29 October 2026. Only names are shown.
- Parent company
- No parent company: owned by persons
Source: GLEIF (Global Legal Entity Identifier Foundation), fetched 29 October 2026. The parent is the one the company itself reported to GLEIF.
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 29 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 60 | 70 | 63 | |
| Rank | 7,387 | 3,366 | 5,655 | |
| Operating margin | 3.5% | 2.6% | 2.6% | |
| Return on assets | 26.2% | 19.2% | 13.9% | |
| Equity ratio | 29.9% | 40.1% | 35.7% | |
| Current ratio | 1.37 | 1.62 | 1.51 | |
| Revenue growth | – | 18.5% | 19.7% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 494.9 MNOK | 586.4 MNOK | 702.0 MNOK |
| Operating profit | 17.3 MNOK | 15.5 MNOK | 17.9 MNOK |
| Profit before tax | 17.7 MNOK | 15.6 MNOK | 18.4 MNOK |
| Net profit | 13.6 MNOK | 12.2 MNOK | 14.3 MNOK |
| Financial expenses | 0.4 MNOK | 0.1 MNOK | 0.0 MNOK |
| Total assets | 69.2 MNOK | 81.8 MNOK | 132.3 MNOK |
| Current assets | 66.6 MNOK | 79.3 MNOK | 128.9 MNOK |
| Equity | 20.7 MNOK | 32.9 MNOK | 47.2 MNOK |
| Retained earnings | 20.5 MNOK | 7.1 MNOK | 21.4 MNOK |
| Total liabilities | 48.5 MNOK | 49.0 MNOK | 85.1 MNOK |
| Current liabilities | 48.5 MNOK | 49.0 MNOK | 85.1 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 29 October 2026, accounts id 7228982.
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