Spoon AS
Score · fiscal year 2025
44of 100
How to read this: the company is ahead of 34 % of companies in the Morning class Medium in the same sector in 2025. What does this mean?
Rank in the Morning class Medium: 359 of 546 · What are Morning company classes?
Place in the whole sector: 2,473 of 3,921 · Teknisk tjenesteyting og forskning
Profile
Elephant · Steward
Lower profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 15 and solidity 76 out of 100 among companies in the Morning class Medium in the same sector in 2025. Methodology
Against the sector
Spoon AS is 6 points below the median for companies in the Morning class Medium in the same sector in 2025.
Median score 50 among 546 companies.
Against companies in the Morning class Medium in the same sector in 2025: operating margin −1.7% (median 5.5%) and equity ratio 51.0% (median 32.4%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 61 MNOK | 96 MNOK |
| Operating margin | −1.7% | 5.5% |
| Profit margin | −1.0% | 5.5% |
| Return on assets | −2.0% | 12.5% |
| Equity ratio | 51.0% | 32.4% |
| Debt-to-equity | 0.96 | 1.99 |
| Current ratio | 1.90 | 1.34 |
| Revenue growth | −17.4% | 9.8% |
| Revenue per employee | 2.92 MNOK | 2.98 MNOK |
The median and “ahead of” refer to companies in the Morning class Medium in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 44, Spoon AS does better than 34% of companies in the Morning class Medium in the same sector (546 companies) in 2025.
Score 2023–2025
- Spoon AS
- Median: companies in the Morning class Medium in the same sector
Spoon AS has a score of 44 for 2025, rank 2,473 of 3,921 in the sector.
Strongest: Liquidity: percentile 79 against peers, current ratio 1.90 against a median of 1.34. Solidity: percentile 76 against peers, equity ratio 51.0% against a median of 32.4%.
Weakest: Growth: percentile 8 against peers, revenue growth −17.4% against a median of 9.8%. Profitability: percentile 15 against peers, operating margin −1.7% against a median of 5.5%.
Worth a closer look
- The company made a loss before tax. Are these one-off items or a pattern? Based on: profit margin −1.0% (median 5.5%).
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin −1.7% (median 5.5%).
- What lies behind weak growth, and will it last?
- What lies behind weak profitability, 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
The industry or the company: what drove the result?
In 2025 the operating margin of Spoon AS fell by 0.1 percentage points. Comparable companies rose by a median 0.2 points. So the company did 0.3 points weaker than the industry, for reasons of its own.
Over 2 year-to-year changes Spoon AS moved the same way as comparable companies 0 times. About 4% 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 | −1.6% | 5.3% | −6.6 percentage points | +0.1 percentage points | −6.7 percentage points |
| 2025 | −1.7% | 5.5% | −0.1 percentage points | +0.2 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 Spoon 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 Spoon AS fell 0.1 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 | – | – | 5.0% | −1.6% | −1.7% | – |
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 Spoon AS fell 0.1 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 | – | – | 5.0% | −1.6% | −1.7% | – |
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 Spoon AS fell 0.1 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 | – | – | 5.0% | −1.6% | −1.7% | – |
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 Spoon AS fell 0.1 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 | – | – | 5.0% | −1.6% | −1.7% | – |
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 Spoon AS fell 0.1 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 | – | – | 5.0% | −1.6% | −1.7% | – |
Source: SSB (08799, CC BY 4.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Spoon AS fell 0.1 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 | – | – | 5.0% | −1.6% | −1.7% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
EUR/NOK (kr)
EUR/NOK rose 0.8% in 2025; the operating margin of Spoon AS fell 0.1 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 | – | – | 5.0% | −1.6% | −1.7% | – |
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 Spoon AS fell 0.1 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 | – | – | 5.0% | −1.6% | −1.7% | – |
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
Spoon AS had an operating margin of −1.7% and an equity ratio of 51.0% in 2025, and ranks 2,473 of 3,921 in Teknisk tjenesteyting og forskning.
From 2024 to 2025: revenue fell by 17%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 7 MNOK and 23 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 18.6 | 7 MNOK |
| EV/EBIT | 15.9 | 11 MNOK |
| P/B | 3.2 | 23 MNOK |
The listed basis is the value at listed multiples. The estimate is lowered by 51% for an unlisted company: 20% for lack of marketability and 38% for size (a small-company premium of 4% on the cost of equity).
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 company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −1.0% (median 5.5%).
- 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 −1.7% (median 5.5%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 0.4% 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 −0.2%. Based on the 8 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 15 | weight 30% |
|---|---|---|
| Solidity | 76 | weight 25% |
| Liquidity | 79 | weight 15% |
| Growth | 8 | weight 15% |
| Consistency | 51 | weight 15% |
Durability: 52 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Spoon AS?
The operating margin was −1.7% in 2025, against a median of 5.5% among companies in the Morning class Medium in the same sector. Return on assets was −2.0%. The company made a loss before tax.
How solid is Spoon AS?
The equity ratio was 51.0% in 2025 (median 32.4%). Debt-to-equity was 0.96 (median 1.99).
What is the liquidity of Spoon AS like?
The current ratio was 1.90 in 2025 (median 1.34).
How does Spoon AS compare in Teknisk tjenesteyting og forskning?
Spoon AS ranks 2,473 of 3,921 in Teknisk tjenesteyting og forskning for 2025. Among companies in the Morning class Medium it is number 359 of 546. Revenue changed by −17.4% from the year before.
Public contracts
- Contracts awarded since 2024
- 0
- Total awarded value since 2024
- value not stated
| Date | Buyer | Notice | Value |
|---|---|---|---|
| 10 October 2022 | Valgdirektoratet | Anskaffelse av Rammeavtale for grafisk design, idé- og konseptutvikling | 25.0 MNOK (framework) |
| 22 November 2018 | Bane NOR SF | Rammeavtale - Redaksjonelle tjenester | 20.0 MNOK |
Based on notices in Doffin. Does not show call-offs under framework agreements or purchases below the publication threshold. Values are as stated by the buyer.
Source: Doffin (DFØ), fetched 28 October 2026. Winners are matched on organisation number.
Contains data under the Norwegian licence for public data (NLOD 2.0) made available by Doffin/the Norwegian Agency for Public and Financial Management (DFØ). NLOD 2.0
From the Central Coordinating Register
- Org. no.
- 989389874
- Legal form
- AS
- Sector
- Teknisk tjenesteyting og forskning (74.120)
- Morning company class
- Medium
- Employees
- 21 registered 10 October 2026
- Founded
- 10 January 2006 20 years in operation
- Share capital
- 0.14 MNOK
- Business address
- Universitetsgata 2, 0164 OSLO
- Municipality
- Oslo rank 63–220 of 357 in Norway
- Latest accounts filed
- 2025
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.
Shareholders (2025)
- Number of shareholders
- 1 (one owner)
- Largest owner
- 100.0%
- Split
- companies 100% · private persons 0% · foreign 100%
- Group chain
- Ultimate owner: Spoon Agency AB
- Spoon Agency AB (Sweden) · 100.0%
Change 2007–2025:
100% of the shares changed owner (1 new and 2 departed owners). The majority owner changed. Foreign owners now hold more than half.
New owners (companies): Spoon Agency AB
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.
Figures last fetched 5 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 66 | 44 | 44 | |
| Rank | 912 | 2,424 | 2,473 | |
| Operating margin | 5.0% | −1.6% | −1.7% | |
| Return on assets | 12.9% | −2.5% | −2.0% | |
| Equity ratio | 48.2% | 48.5% | 51.0% | |
| Current ratio | 1.57 | 1.58 | 1.90 | |
| Revenue growth | – | −7.0% | −17.4% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 79.7 MNOK | 74.1 MNOK | 61.2 MNOK |
| Operating profit | 4.0 MNOK | −1.2 MNOK | −1.0 MNOK |
| Profit before tax | 4.3 MNOK | −0.8 MNOK | −0.6 MNOK |
| Tax expense | 1.0 MNOK | −0.2 MNOK | −0.1 MNOK |
| Net profit | 3.4 MNOK | −0.7 MNOK | −0.5 MNOK |
| Financial expenses | 0.0 MNOK | 0.0 MNOK | 0.1 MNOK |
| Total assets | 33.6 MNOK | 32.1 MNOK | 29.2 MNOK |
| Current assets | 27.1 MNOK | 26.1 MNOK | 27.2 MNOK |
| Equity | 16.2 MNOK | 15.6 MNOK | 14.9 MNOK |
| Retained earnings | 16.0 MNOK | 15.4 MNOK | 14.0 MNOK |
| Total liabilities | 17.4 MNOK | 16.5 MNOK | 14.3 MNOK |
| Current liabilities | 17.3 MNOK | 16.5 MNOK | 14.3 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 5 November 2026, accounts id 7172847.
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