NESS, RISAN & Partners 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
59of 100
How to read this: the company is ahead of 66 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 2,561 of 7,471 · What are Morning company classes?
Place in the whole sector: 3,410 of 10,057 · Teknisk tjenesteyting og forskning
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 85 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
NESS, RISAN & Partners AS is 8 points above the median for companies in the Morning class Micro in the same sector in 2025.
Median score 51 among 7,467 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin −295.9% (median 7.8%) and equity ratio 94.5% (median 43.1%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 6 MNOK | 2 MNOK |
| Operating margin | −295.9% | 7.8% |
| Profit margin | 220.7% | 7.8% |
| Return on assets | 2.1% | 14.1% |
| Equity ratio | 94.5% | 43.1% |
| Debt-to-equity | 0.06 | 1.04 |
| Current ratio | 8.91 | 1.71 |
| Revenue growth | 76.7% | 6.9% |
| Revenue per employee | 0.78 MNOK | 0.85 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 59, NESS, RISAN & Partners AS does better than 66% of companies in the Morning class Micro in the same sector (7,471 companies) in 2025.
Score 2023–2025
- NESS, RISAN & Partners 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. |
5,862 days | 44 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. |
12,216 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. |
4,387.4% | −7.1% | |
| Cash share of current assets How much of the short-term buffer is bank deposits and cash. |
1.7% | 57.8% | |
| 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. |
−273.9 | 14.9 | |
| 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. |
0.2% | 0.6% | |
| Long-term share of debt Long-term debt as a share of all debt. A low share means more falls due within a year. |
0.2% | 2.3% | |
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): 274.8 MNOK.
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.
NESS, RISAN & Partners AS has a score of 59 for 2025, rank 3,410 of 10,057 in the sector.
Strongest: Solidity: percentile 97 against peers, equity ratio 94.5% against a median of 43.1%. Liquidity: percentile 94 against peers, current ratio 8.91 against a median of 1.71.
Weakest: Profitability: percentile 15 against peers, operating margin −295.9% against a median of 7.8%.
Worth a closer look
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin −295.9% (median 7.8%).
- 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 5,862 days (median 44 days).
- What lies behind weak profitability, and will it last?
- The change in operating margin in 2025 was 124.1 percentage points better than for comparable companies: the company +123.9, the industry −0.2 points. That is the company's own, not something that hit the whole industry.
Written by fixed rules from the figures. Describes the figures, does not explain causes. Not investment or financial advice. How the summary is made
The industry or the company: what drove the result?
In 2025 the operating margin of NESS, RISAN & Partners AS rose by 123.9 percentage points. Comparable companies fell by a median 0.2 points. So the company did 124.1 points better than the industry, for reasons of its own.
Over 2 year-to-year changes NESS, RISAN & Partners AS moved the same way as comparable companies 0 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 | −419.8% | 8.0% | −265.7 percentage points | +2.5 percentage points | −268.2 percentage points |
| 2025 | −295.9% | 7.8% | +123.9 percentage points | −0.2 percentage points | +124.1 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 NESS, RISAN & Partners AS. The figures stand side by side; we claim no cause.
Turnover index: architectural and engineering activities (indeks (2021 = 100))
Turnover index: architectural and engineering activities rose 8.1% in 2025; the operating margin of NESS, RISAN & Partners AS rose 123.9 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Turnover index: architectural and engineering activities, annual average | 99.0 | 108.8 | 127.9 | 146.4 | 158.3 | 155.2 (so far) |
| Change from the year before | +9.8% | +9.9% | +17.5% | +14.5% | +8.1% | −1.9% |
| The company's operating margin | – | – | −154.1% | −419.8% | −295.9% | – |
Source: SSB (13863, CC BY 4.0). Source
Turnover index: advertising and market research (indeks (2021 = 100))
Turnover index: advertising and market research rose 3.6% in 2025; the operating margin of NESS, RISAN & Partners AS rose 123.9 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Turnover index: advertising and market research, annual average | 99.4 | 113.5 | 108.3 | 106.9 | 110.7 | 126.1 (so far) |
| Change from the year before | +35.1% | +14.2% | −4.6% | −1.3% | +3.6% | +13.9% |
| The company's operating margin | – | – | −154.1% | −419.8% | −295.9% | – |
Source: SSB (13863, CC BY 4.0). Source
Turnover index: other professional and technical activities (indeks (2021 = 100))
Turnover index: other professional and technical activities rose 6.2% in 2025; the operating margin of NESS, RISAN & Partners AS rose 123.9 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Turnover index: other professional and technical activities, annual average | 98.3 | 121.6 | 139.4 | 131.0 | 139.1 | 158.0 (so far) |
| Change from the year before | +29.9% | +23.7% | +14.6% | −6.0% | +6.2% | +13.6% |
| The company's operating margin | – | – | −154.1% | −419.8% | −295.9% | – |
Source: SSB (13863, CC BY 4.0). Source
Service prices: architects and engineering (indeks (2021 = 100))
Service prices: architects and engineering rose 3.2% in 2025; the operating margin of NESS, RISAN & Partners AS rose 123.9 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Service prices: architects and engineering, annual average | 100.0 | 103.6 | 107.5 | 111.2 | 114.7 | 119.4 (so far) |
| Change from the year before | +1.2% | +3.5% | +3.8% | +3.4% | +3.2% | +4.2% |
| The company's operating margin | – | – | −154.1% | −419.8% | −295.9% | – |
Source: SSB (14335, 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 NESS, RISAN & Partners AS rose 123.9 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Oil price (export price of crude oil), annual average | 609 | 979 | 877 | 859 | 708 | 881 (so far) |
| Change from the year before | +61.1% | +60.8% | −10.5% | −2.0% | −17.6% | +24.5% |
| The company's operating margin | – | – | −154.1% | −419.8% | −295.9% | – |
Source: SSB (08799, CC BY 4.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of NESS, RISAN & Partners AS rose 123.9 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 | – | – | −154.1% | −419.8% | −295.9% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
EUR/NOK (kr)
EUR/NOK rose 0.8% in 2025; the operating margin of NESS, RISAN & Partners AS rose 123.9 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| EUR/NOK, annual average | 10.16 | 10.10 | 11.42 | 11.62 | 11.72 | 11.04 (so far) |
| Change from the year before | −5.2% | −0.6% | +13.1% | +1.8% | +0.8% | −5.8% |
| The company's operating margin | – | – | −154.1% | −419.8% | −295.9% | – |
Source: Norges Bank (EXR, NLOD 2.0). Source
Wage index: architects and engineering (indeks)
Wage index: architects and engineering rose 4.7% in 2025; the operating margin of NESS, RISAN & Partners AS rose 123.9 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: architects and engineering, annual average | 90.5 | 90.9 | 96.0 | 100.9 | 105.6 | 109.2 (so far) |
| Change from the year before | +7.4% | +0.5% | +5.6% | +5.2% | +4.7% | +3.4% |
| The company's operating margin | – | – | −154.1% | −419.8% | −295.9% | – |
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
NESS, RISAN & Partners AS had an operating margin of −295.9% and an equity ratio of 94.5% in 2025, and ranks 3,410 of 10,057 in Teknisk tjenesteyting og forskning.
From 2024 to 2025: the operating margin rose from −419.8% to −295.9% and revenue grew by 77%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 630 MNOK and 1,916 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 22.4 | 630 MNOK |
| EV/EBIT | 17.4 | not meaningful |
| P/B | 4.1 | 1,916 MNOK |
The listed basis is the value at listed multiples. The estimate is lowered for size: a small-company premium of 2% on the cost of equity gives a value 24% 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 (74): Business & Consumer 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
Worth a closer look
- 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 −295.9% (median 7.8%).
- 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 5,862 days (median 44 days).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 0.2% 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.
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 2021, the sector's weakest year, for this company.
The sector's weakest year was 2021, with a median operating margin of −0.2%. 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 | 15 | weight 40% |
|---|---|---|
| Solidity | 97 | weight 20% |
| Liquidity | 94 | weight 5% |
| Growth | 91 | weight 25% |
| Consistency | 57 | weight 10% |
Three goals: profitability 40%, growth 25%, resilience 35%. Why these weights?
Durability: 51 (average over 3 years)
Index version 3. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is NESS, RISAN & Partners AS?
The operating margin was −295.9% in 2025, against a median of 7.8% among companies in the Morning class Micro in the same sector. Return on assets was 2.1%.
How solid is NESS, RISAN & Partners AS?
The equity ratio was 94.5% in 2025 (median 43.1%). Debt-to-equity was 0.06 (median 1.04).
What is the liquidity of NESS, RISAN & Partners AS like?
The current ratio was 8.91 in 2025 (median 1.71).
How does NESS, RISAN & Partners AS compare in Teknisk tjenesteyting og forskning?
NESS, RISAN & Partners AS ranks 3,410 of 10,057 in Teknisk tjenesteyting og forskning for 2025. Among companies in the Morning class Micro it is number 2,561 of 7,471. Revenue changed by 76.7% 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 |
|---|---|---|---|---|
| BRUNDTLAND & Krosby AS · same municipality |  Cheetah |
6 MNOK | 69.0% | 55 |
| Intro Music AS |  Lion |
6 MNOK | 43.9% | 85 |
| NESS, RISAN & Partners AS (this company) |  Elephant |
6 MNOK | −295.9% | 59 |
| Vuvi AS |  Beaver |
6 MNOK | 3.6% | 31 |
| Rogaland Takstpartner AS | Cheetah |
6 MNOK | 41.2% | 55 |
| Radonspesialisten AS | Cheetah |
6 MNOK | 14.3% | 42 |
| Piql AS | Beaver |
6 MNOK | −230.2% | 2 |
| Takstkontoret Valdres AS | Beaver |
6 MNOK | 9.3% | 49 |
| Bygningssakkyndig AS | Cheetah |
6 MNOK | 13.9% | 47 |
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
61 of 100
Rank 13 of 40 groups in the Morning class Medium in Teknisk tjenesteyting og forskning. Groups are ranked only against other groups in the same sector and class, never against single companies.
- Operating revenue, group
- 123 MNOK
- Operating profit, group
- −2 MNOK
- Profit before tax, group
- 35 MNOK
- Total assets, group
- 705 MNOK
- Equity, group
- 624 MNOK
| Key figure | The group | The company alone (2025) |
|---|---|---|
| Operating margin | −1.9% | −295.9% |
| Return on assets | 6.3% | 2.1% |
| Equity ratio | 88.4% | 94.5% |
| Current ratio | 5.44 | 8.91 |
| Revenue growth | 0.2% | 76.7% |
Group index in earlier years: 2023: 77 (6 of 55), 2024: 49 (25 of 47).
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
14 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.
No owner holds more than half of the shares in Ness, Risan & Partners AS.
Group accounts. Ness, Risan & Partners AS for 2025: index 61 of 100, number 13 of 40 groups.
The group in figures
- Sectors
- Finans og forsikring (4 companies), Revisjon, regnskap og rådgivning (1 company), Teknisk tjenesteyting og forskning (4 companies) 9 of 14 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
- 39 in all. Oslo 39 Registered employees in the Central Coordinating Register, by the municipality of the business address. Employees may work elsewhere.
- Changed 2024–2025
- 4 companies joined the group. 8 companies left, among them: Envision SPV i AS, Pioneer Eco Bulker AS, Premium Maritime Fund 2024 AS, Smoltco AS, Zea Chemicals AS, Envision Green Transition II AS.
-
Ness, Risan & Partners AS you are here
- Nrp Maritime Asset Management AS
- Nrp Project Finance AS
-
Nrp Business Management AS
- Org. no. 836543432
- Org. no. 936543332
- Org. no. 936543359
- Org. no. 936543502
- Nrp Capital Advisory AS
- Nrp Anaxo Capital Management AS
-
Nrp Investering AS
- Org. no. 925518719
- Nrp Aksjer AS
- Nrp Nordic High Yield 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.
- 987615664
- Legal form
- AS
- Sector
- Teknisk tjenesteyting og forskning (74.990)
- Morning company class
- Micro
- Employees
- 8 registered 10 February 2026
- Founded
- 6 December 2004 21 years in operation
- Share capital
- 0.10 MNOK
- Business address
- Drammensveien 88B, 0271 OSLO
- Municipality
- Oslo rank 63–220 of 357 in Norway
- Latest accounts filed
- 2025
- LEI
- 254900KN7WWLS0KK1G54 renews 3 October 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 1 November 2026. Only names are shown.
- Parent company
- No parent company: owned by persons
Source: GLEIF (Global Legal Entity Identifier Foundation), fetched 30 October 2026. The parent is the one the company itself reported to GLEIF.
Shareholders (2025)
- Number of shareholders
- 9
- Largest owner
- 36.7% · top three 84.7%
- Split
- companies 99% · private persons 1% · foreign 0%
- Owned from the same municipality
- 92%
- Milla Investment AS · 36.7%
- Stokkedammen AS · 36.7%
- Amalie Invest AS · 11.3%
- JOHS. HANSEN & CO AS · 3.8%
- Arethusa AS · 3.8%
- Oskar Investment AS · 2.7%
- Wildhorn Invest AS · 2.1%
- Emkay Invest AS · 1.9%
- 1 private persons · 1.1%
Change 2007–2025:
21% of the shares changed owner (3 new and 7 departed owners).
New owners (companies): Arethusa AS, Oskar Investment AS
Departed (companies): Alcides Holding AS, Cacomo AS, Gram Shipping AS, Intellus Invest AS, MOSVOLD & CO AS
Majority owner of: Nrp Capital Advisory AS (100%), Nrp Investering AS (100%), Nrp Project Finance AS (95%), Nrp Business Management AS (90%), Nrp Anaxo Capital Management AS (80%), Nrp Maritime Asset Management AS (64%)
The portfolio: 10 of the companies it owns shares in have accounts with us, 6 of them as majority owner. The average index is 38. 0 have negative equity and 3 made a loss in the latest year.
Holds shares in: Envisiontech AS (37%), Nrp Capital Advisory AS (100%), Nrp Green Transition i AS (4%), Nrp Maritime Asset Management AS (64%), Nrp Anaxo Capital Management AS (80%), View Co-Invest AS (10%), Nrp Business Management AS (90%), Nrp Project Finance AS (95%)
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 6 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 58 | 37 | 59 | |
| Rank | 3,390 | 6,948 | 3,410 | |
| Operating margin | −154.1% | −419.8% | −295.9% | |
| Return on assets | 9.8% | 5.1% | 2.1% | |
| Equity ratio | 91.4% | 90.4% | 94.5% | |
| Current ratio | 8.32 | 5.46 | 8.91 | |
| Revenue growth | – | −64.7% | 76.7% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 10.0 MNOK | 3.5 MNOK | 6.3 MNOK |
| Operating profit | −15.5 MNOK | −14.9 MNOK | −18.5 MNOK |
| Profit before tax | 66.9 MNOK | 35.3 MNOK | 13.8 MNOK |
| Tax expense | – | 2.4 MNOK | 3.1 MNOK |
| Net profit | 66.9 MNOK | 33.0 MNOK | 10.8 MNOK |
| Financial expenses | 1.6 MNOK | 0.1 MNOK | 0.1 MNOK |
| Total assets | 698.9 MNOK | 694.4 MNOK | 649.0 MNOK |
| Current assets | 501.2 MNOK | 363.1 MNOK | 315.7 MNOK |
| Equity | 638.7 MNOK | 627.7 MNOK | 613.5 MNOK |
| Retained earnings | 609.7 MNOK | 598.8 MNOK | 584.6 MNOK |
| Total liabilities | 60.2 MNOK | 66.6 MNOK | 35.5 MNOK |
| Current liabilities | 60.2 MNOK | 66.6 MNOK | 35.4 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 6 November 2026, accounts id 6988656.
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