Bodega Drift 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
Is the company run well?
Five key figures against companies in the Morning class Micro in the same sector. Green is better than most, amber about like the industry and red weaker than most.
- Profitability · operating margin −12.5% Weaker than the industry Industry: 47.7%
- Returns · return on assets −9.0% Weaker than the industry Industry: 7.8%
- Solidity · equity ratio −16.3% Weaker than the industry Industry: 27.9%
- Liquidity · current ratio 0.42 Weaker than the industry Industry: 1.40
- Growth · revenue growth −11.4% Weaker than the industry Industry: 3.3%
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
13of 100
How to read this: the company is ahead of 2 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 23,452 of 23,907 · What are Morning company classes?
Place in the whole sector: 29,583 of 30,137 · Eiendom
Profile
Beaver · Builder
Lower profitability, lower resilience
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 6 and resilience 7 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
Bodega Drift AS is 37 points below the median for companies in the Morning class Micro in the same sector in 2025.
Median score 50 among 23,901 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin −12.5% (median 47.7%) and equity ratio −16.3% (median 27.9%).
How it has gone · 2023–2025
Revenue fell by 50 % from 2023 to 2025, to 6.2 MNOK. The operating margin fell from 35.9% in 2023 to −12.5% in 2025. The equity ratio fell from 9.7% in 2023 to −16.3% in 2025.
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 figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 12.4 MNOK | 7.0 MNOK | 6.2 MNOK |
| Operating profit | 4.5 MNOK | −0.9 MNOK | −0.8 MNOK |
| Net profit | 5.2 MNOK | −1.5 MNOK | −1.5 MNOK |
| Total assets | 10.7 MNOK | 10.5 MNOK | 8.6 MNOK |
| Equity | 1.0 MNOK | 0.1 MNOK | −1.4 MNOK |
| Total liabilities | 9.7 MNOK | 10.4 MNOK | 10.0 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.
- 988455563
- Legal form
- AS
- Sector
- Eiendom (68.200)
- Purpose
- Kjøp, salg og utleie av eiendom og alt hva herved er forbundet, investeringsvirksomhet og deltakelse i andre virksomheter. I tillegg skal selskapet drive med administrasjonstjenester.
- Morning company class
- Micro
- Employees
- 0–4 (not registered) Payroll costs in the accounts: 2.6 MNOK (2025).
- Founded
- 1 July 2005 21 years in operation
- Share capital
- 2.50 MNOK
- Business address
- Strandgaten 87, 5004 BERGEN
- Municipality
- Bergen rank 8 of 11 in KOSTRA group 12
- Latest accounts filed
- 2025
- VAT registered
- Yes
- Former names
- Blue Waves AS until 2017, Blue Wave AS until 2005
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
Bodega Drift AS has a score of 13 for 2025, rank 29,583 of 30,137 in the sector.
Strongest: Growth: percentile 32 against peers, revenue growth −11.4% against a median of 3.3%.
Weakest: Solidity: percentile 0 against peers, equity ratio −16.3% against a median of 27.9%. Profitability: percentile 6 against peers, operating margin −12.5% against a median of 47.7%.
Worth a closer look
- Equity is negative. How will it be rebuilt, and what do lenders and the auditor say about going concern? Based on: equity ratio −16.3% (median 27.9%).
- Consider strengthening liquidity: current liabilities are 2.4 times current assets. Based on: current ratio 0.42 (median 1.40).
- 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) −1.1 (median 1.8); financial costs as a share of debt 7.1% (median 5.0%).
- 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
- critical
Equity is negative. How will it be rebuilt, and what do lenders and the auditor say about going concern?
Based on: Equity ratio −16.3% (median 27.9%).
- critical
Consider strengthening liquidity: current liabilities are 2.4 times current assets.
Based on: Current ratio 0.42 (median 1.40).
- 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) −1.1 (median 1.8); Financial costs as a share of debt 7.1% (median 5.0%).
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −24.0% (median 24.4%).
- 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 −12.5% (median 47.7%).
- watch
Current liabilities exceed current assets other than bank deposits, and the current ratio is weak. Is it customer prepayments and supplier credit that fund the operations, or short-term loans that must be renewed?
Based on: Net working capital to revenue −12.5% (median −12.4%); Current ratio 0.42 (median 1.40).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 7.1% 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
- critical Negative equity
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 15.2%. 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 | 6 | weight 40% |
|---|---|---|
| Solidity | 0 | weight 20% |
| Liquidity | 22 | weight 5% |
| Growth | 32 | weight 25% |
| Consistency | 12 | weight 10% |
Three goals: profitability 40%, growth 25%, resilience 35%. Why these weights?
Durability: 23 (average over 3 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 | 6 MNOK | 2 MNOK |
| Operating margin | −12.5% | 47.7% |
| Profit margin | −24.0% | 24.4% |
| Return on assets | −9.0% | 7.8% |
| Equity ratio | −16.3% | 27.9% |
| Debt-to-equity | – | 2.10 |
| Current ratio | 0.42 | 1.40 |
| Revenue growth | −11.4% | 3.3% |
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 13, Bodega Drift AS does better than 2% of companies in the Morning class Micro in the same sector (23,907 companies) in 2025.
Score 2023–2025
- Bodega Drift 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. |
17 days | 40 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. |
– | 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. |
−12.5% | −12.4% | |
| Cash share of current assets How much of the short-term buffer is bank deposits and cash. |
34.5% | 54.9% | |
| 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. |
−1.1 | 1.8 | |
| 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. |
7.1% | 5.0% | |
| Long-term share of debt Long-term debt as a share of all debt. A low share means more falls due within a year. |
89.3% | 87.8% | |
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): −0.8 MNOK.
Of the financial costs of 0.7 MNOK, 0.7 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 Bodega Drift AS rose by 1.0 percentage points. Comparable companies rose by a median 0.7 points. So the company did 0.3 points better than the industry, for reasons of its own.
Over 2 year-to-year changes Bodega Drift AS moved the same way as comparable companies 1 times. About 15% 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 | −13.5% | 46.9% | −49.4 percentage points | +9.6 percentage points | −58.9 percentage points |
| 2025 | −12.5% | 47.7% | +1.0 percentage points | +0.7 percentage points | +0.3 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 Bodega Drift AS. The figures stand side by side; we claim no cause.
House prices (existing homes) (indeks (2015 = 100))
House prices (existing homes) rose 5.5% in 2025; the operating margin of Bodega Drift AS rose 1.0 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| House prices (existing homes), annual average | 134.5 | 141.6 | 140.8 | 144.6 | 152.5 | 158.7 (so far) |
| Change from the year before | +10.5% | +5.2% | −0.5% | +2.7% | +5.5% | +4.1% |
| The company's operating margin | – | – | 35.9% | −13.5% | −12.5% | – |
Source: SSB (07221, CC BY 4.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Bodega Drift AS rose 1.0 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 | – | – | 35.9% | −13.5% | −12.5% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
Construction cost index for dwellings (indeks (2015 = 100))
Construction cost index for dwellings rose 4.3% in 2025; the operating margin of Bodega Drift AS rose 1.0 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Construction cost index for dwellings, annual average | 124.2 | 135.1 | 141.1 | 146.4 | 152.7 | 158.4 (so far) |
| Change from the year before | +8.7% | +8.8% | +4.4% | +3.7% | +4.3% | +3.7% |
| The company's operating margin | – | – | 35.9% | −13.5% | −12.5% | – |
Source: SSB (08651, CC BY 4.0). Source
Consumer price index (indeks (2025 = 100))
Consumer price index rose 3.0% in 2025; the operating margin of Bodega Drift AS rose 1.0 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 | – | – | 35.9% | −13.5% | −12.5% | – |
Source: SSB (14710, CC BY 4.0). Source
Wage index: real estate (indeks)
Wage index: real estate rose 5.2% in 2025; the operating margin of Bodega Drift AS rose 1.0 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: real estate, annual average | 91.7 | 94.3 | 96.8 | 103.2 | 108.5 | 111.3 (so far) |
| Change from the year before | +5.2% | +2.9% | +2.6% | +6.5% | +5.2% | +2.6% |
| The company's operating margin | – | – | 35.9% | −13.5% | −12.5% | – |
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
Bodega Drift AS had an operating margin of −12.5% and an equity ratio of −16.3% in 2025, and ranks 29,583 of 30,137 in Eiendom.
From 2024 to 2025: the equity ratio fell from 0.8% to −16.3% and revenue fell by 11%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 2 MNOK and 5 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.5 | 5 MNOK |
| EV/EBIT | 19.2 | 2 MNOK |
| P/B | 0.7 | not meaningful |
| EV/EBIT: from enterprise value to equity | NOK |
|---|---|
| Enterprise value (EV) at the listed multiple | 18 MNOK |
| Enterprise value after the size adjustment | 11 MNOK |
| Less net debt (rough figure) | 9 MNOK |
| Equity value | 2 MNOK |
Net debt is a rough figure: long-term liabilities minus cash. The accounts do not split interest-bearing debt from other liabilities, and short-term borrowings are not included. The size adjustment applies to the enterprise value, not to the debt. Net debt is 81% of the enterprise value after the size adjustment, so the equity value from EV/EBIT is sensitive to errors in the debt figure.
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 (68.2): R.E.I.T..
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 Bodega Drift AS?
The operating margin was −12.5% in 2025, against a median of 47.7% among companies in the Morning class Micro in the same sector. Return on assets was −9.0%. The company made a loss before tax.
How solid is Bodega Drift AS?
The equity ratio was −16.3% in 2025 (median 27.9%). Equity is negative, so liabilities exceed assets.
What is the liquidity of Bodega Drift AS like?
The current ratio was 0.42 in 2025 (median 1.40). Current assets did not cover current liabilities.
How does Bodega Drift AS compare in Eiendom?
Bodega Drift AS ranks 29,583 of 30,137 in Eiendom for 2025. Among companies in the Morning class Micro it is number 23,452 of 23,907. Revenue changed by −11.4% 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 |
|---|---|---|---|---|
| Kvaenveien 9 AS |  Lion |
6 MNOK | 80.4% | 61 |
| SK Gruppen AS | Lion |
6 MNOK | 43.6% | 60 |
| Odelsveien Næring AS |  Cheetah |
6 MNOK | 62.5% | 50 |
| Bodega Drift AS (this company) |  Beaver |
6 MNOK | −12.5% | 13 |
| Sandvedparken Bolig og Næringssenter AS | Lion |
6 MNOK | 72.7% | 63 |
| Etat Eiendom AS | Beaver |
6 MNOK | 29.9% | 38 |
| Nordre Fokserød 24 AS | Cheetah |
6 MNOK | 62.2% | 46 |
| Sagtomta AS | Beaver |
6 MNOK | 42.8% | 28 |
| Kongens Plass 1 AS |  Elephant |
6 MNOK | 51.4% | 54 |
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
23 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 Hølleland Holding AS. Persons are not shown by name.
Hølleland Holding 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
- Eiendom (20 companies), Revisjon, regnskap og rådgivning (2 companies), Overnatting og servering (1 company) 23 of 23 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
- 9 companies: Bodega Drift AS, Strandgaten 87 AS, Øvre Korskirkealmenningen 4 AS, Sandviksvei 55 AS, Mereplass AS, Søndre Skogvei 63C AS …
- Loss
- 11 companies: Bodega Drift AS, Hølleland Holding AS, Strandgaten 87 AS, Torggaten 11 AS, Sandviksvei 55 AS, Mereplass AS …
- Changed 2024–2025
- 1 company joined the group: Mølleneset Næring 1 AS. 13 companies left, among them: Solidia AS, Strandgaten 78 AS, Strandgaten 54 AS, Strandgaten 89 AS, Strandgaten 83 AS, Strandgaten 76 Næring 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.
-
Hølleland Holding AS
-
Bodega Drift AS you are here
- Metaz AS
- Mereplass AS
- HE Næring Invest AS
- Mølleneset Næring 1 AS
- Søndre Skogvei 63C AS
- Torget Konsulenter 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.
Ownership and roles
Loading roles …
Source: Central Coordinating Register, fetched 8 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: Hølleland Holding AS (100%)
Ultimate owner: private person
The owner: the majority owner Hølleland Holding 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.
- Hølleland Holding AS · 100.0%
Change 2007–2025: no material change in the owners.
Majority owner of: Sunnhordland Hotell A/S (100%)
Holds shares in: Sunnhordland Hotell A/S (100%)
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 | 48 | 8 | 13 | |
| Rank | 14,554 | 28,360 | 29,583 | |
| Operating margin | 35.9% | −13.5% | −12.5% | |
| Return on assets | 47.3% | −8.6% | −9.0% | |
| Equity ratio | 9.7% | 0.8% | −16.3% | |
| Current ratio | 1.10 | 0.89 | 0.42 | |
| Revenue growth | – | −43.9% | −11.4% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 12.4 MNOK | 7.0 MNOK | 6.2 MNOK |
| Operating profit | 4.5 MNOK | −0.9 MNOK | −0.8 MNOK |
| Profit before tax | 4.3 MNOK | −1.5 MNOK | −1.5 MNOK |
| Tax expense | −0.9 MNOK | 0.0 MNOK | 0.0 MNOK |
| Net profit | 5.2 MNOK | −1.5 MNOK | −1.5 MNOK |
| Financial expenses | 0.8 MNOK | 0.6 MNOK | 0.7 MNOK |
| Total assets | 10.7 MNOK | 10.5 MNOK | 8.6 MNOK |
| Current assets | 2.2 MNOK | 1.5 MNOK | 0.4 MNOK |
| Equity | 1.0 MNOK | 0.1 MNOK | −1.4 MNOK |
| Retained earnings | −1.5 MNOK | −2.4 MNOK | −3.9 MNOK |
| Total liabilities | 9.7 MNOK | 10.4 MNOK | 10.0 MNOK |
| Current liabilities | 2.0 MNOK | 1.7 MNOK | 1.1 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 9 November 2026, accounts id 7088179.
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