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 2023
58of 100
How to read this: the company is ahead of 62 % of companies in the Morning class Small in the same sector in 2023. What does this mean?
Rank in the Morning class Small: 655 of 1,735 · What are Morning company classes?
Place in the whole sector: 3,390 of 9,006 · Teknisk tjenesteyting og forskning
Profile
Elephant · Steward
Lower profitability, high resilience
Position against comparable companies in 2023, not a verdict on the company. Based on profitability 22 and resilience 99 out of 100 among companies in the Morning class Small in the same sector in 2023. Methodology
Against the sector
NESS, RISAN & Partners AS is 7 points above the median for companies in the Morning class Small in the same sector in 2023.
Median score 51 among 1,735 companies.
Against companies in the Morning class Small in the same sector in 2023: operating margin −154.1% (median 5.5%) and equity ratio 91.4% (median 34.3%).
How it has gone · 2023–2025
Revenue fell by 38 % from 2023 to 2025, to 6.3 MNOK. The operating margin fell from −154.1% in 2023 to −295.9% in 2025. The equity ratio rose from 91.4% in 2023 to 94.5% in 2025.
Amounts in the reporting currency. The full year-by-year table is further down under «Details». See every figure year by year
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) −9.7 (median 11.5); Financial costs as a share of debt 2.7% (median 0.8%).
- 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 −154.1% (median 5.5%).
- 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 6,183 days (median 75 days).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 2.7% of the debt in 2023. The policy rate averaged 3.54 % 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 | 22 | weight 40% |
|---|---|---|
| Solidity | 99 | weight 20% |
| Liquidity | 99 | weight 5% |
| Growth | – | no data, left out |
| Consistency | 99 | weight 10% |
Three goals: profitability 40%, growth 25%, resilience 35%. Why these weights?
Index version 3. Data completeness 75%: the share of the weights that had data.
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 10 MNOK | 18 MNOK |
| Operating margin | −154.1% | 5.5% |
| Profit margin | 666.9% | 5.6% |
| Return on assets | 9.8% | 13.3% |
| Equity ratio | 91.4% | 34.3% |
| Debt-to-equity | 0.09 | 1.74 |
| Current ratio | 8.32 | 1.42 |
| Revenue growth | – | 36.1% |
| Revenue per employee | 1.25 MNOK | 1.58 MNOK |
The median and “ahead of” refer to companies in the Morning class Small in the same sector in 2023. The bar shows the share of companies the figure is ahead of.
With an index of 58, NESS, RISAN & Partners AS does better than 62% of companies in the Morning class Small in the same sector (1,735 companies) in 2023.
Score 2023–2025
- NESS, RISAN & Partners AS
- Median: companies in the Morning class Small 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. |
6,183 days | 75 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. |
11,583 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. |
4,266.9% | −3.4% | |
| Cash share of current assets How much of the short-term buffer is bank deposits and cash. |
2.6% | 37.5% | |
| 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. |
−9.7 | 11.5 | |
| 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. |
2.7% | 0.8% | |
| Long-term share of debt Long-term debt as a share of all debt. A low share means more falls due within a year. |
0.0% | 0.0% | |
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): 428.2 MNOK.
Of the financial costs of 1.6 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 2023. 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.
What the numbers say
NESS, RISAN & Partners AS had an operating margin of −154.1% and an equity ratio of 91.4% in 2023, and ranks 3,390 of 9,006 in Teknisk tjenesteyting og forskning.
This text is generated automatically from the 2023 accounts.
Three simple methods
The methods give between 1,297 MNOK and 2,265 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 22.4 | 1,297 MNOK |
| EV/EBIT | 17.4 | not meaningful |
| P/B | 4.1 | 2,265 MNOK |
The listed basis is the value at listed multiples. The estimate is lowered for size: a small-company premium of 1% on the cost of equity gives a value 14% 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
Questions and answers
How profitable is NESS, RISAN & Partners AS?
The operating margin was −154.1% in 2023, against a median of 5.5% among companies in the Morning class Small in the same sector. Return on assets was 9.8%.
How solid is NESS, RISAN & Partners AS?
The equity ratio was 91.4% in 2023 (median 34.3%). Debt-to-equity was 0.09 (median 1.74).
What is the liquidity of NESS, RISAN & Partners AS like?
The current ratio was 8.32 in 2023 (median 1.42).
How does NESS, RISAN & Partners AS compare in Teknisk tjenesteyting og forskning?
NESS, RISAN & Partners AS ranks 3,390 of 9,006 in Teknisk tjenesteyting og forskning for 2023. Among companies in the Morning class Small it is number 655 of 1,735.
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 (2023) |
|---|---|---|
| Operating margin | −1.9% | – |
| Return on assets | 6.3% | – |
| Equity ratio | 88.4% | – |
| Current ratio | 5.44 | – |
| Revenue growth | 0.2% | – |
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)
- Purpose
- Å drive meglervirksomhet, rådgivningsvirksomhet, forretningsførselvirksomhet, skipsrederivirksomhet, handelsvirksomhet, eie og forvalte fast eiendom og verdipapirer.
- Morning company class
- Small
- 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
- VAT registered
- Yes
- Former names
- Nrp Holding AS until 2007, NESS, RISAN & Partners Holding AS until 2007
- 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 | 6,949 | 3,411 | |
| 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 5289727.
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News and announcements
- 25 September 2026 Nedsettelse av kapital (opens in a new tab) Source: Brønnøysundregistrene
From official sources: the Brønnøysund Register Centre, Oslo Børs NewsWeb and public agencies. We show the title, date and a link to the source. The link to a company, sector or municipality is automatic and may be wrong. Report a wrong link