Blastmanager 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 Small in the same sector. Green is better than most, amber about like the industry and red weaker than most.
- Profitability · operating margin 37.9% Better than the industry Industry: 5.3%
- Returns · return on assets 24.7% Better than the industry Industry: 9.9%
- Solidity · equity ratio 84.3% Better than the industry Industry: 34.5%
- Liquidity · current ratio 5.63 Better than the industry Industry: 1.34
- Growth · revenue growth −1.1% Weaker than the industry Industry: 7.7%
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
78of 100
How to read this: the company is ahead of 97 % of companies in the Morning class Small in the same sector in 2025. What does this mean?
Rank in the Morning class Small: 53 of 1,532 · What are Morning company classes?
Place in the whole sector: 291 of 7,319 · Informasjon og kommunikasjon
Profile
Lion · Leader
High profitability, high resilience
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 85 and resilience 90 out of 100 among companies in the Morning class Small in the same sector in 2025. Methodology
Against the sector
Blastmanager AS is 27 points above the median for companies in the Morning class Small in the same sector in 2025.
Median score 51 among 1,531 companies.
Against companies in the Morning class Small in the same sector in 2025: operating margin 37.9% (median 5.3%) and equity ratio 84.3% (median 34.5%).
How it has gone · 2023–2025
Revenue is about the same: 17.9 MNOK in 2025 against 17.8 MNOK in 2023. The operating margin rose from 27.7% in 2023 to 37.9% in 2025. The equity ratio rose from 75.5% in 2023 to 84.3% 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 | 17.8 MNOK | 18.1 MNOK | 17.9 MNOK |
| Operating profit | 4.9 MNOK | 6.1 MNOK | 6.8 MNOK |
| Net profit | 4.6 MNOK | 6.1 MNOK | 6.8 MNOK |
| Total assets | 23.4 MNOK | 29.6 MNOK | 36.3 MNOK |
| Equity | 17.7 MNOK | 23.8 MNOK | 30.6 MNOK |
| Total liabilities | 5.7 MNOK | 5.8 MNOK | 5.7 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.
- 989474278
- Legal form
- AS
- Sector
- Informasjon og kommunikasjon (62.100)
- Purpose
- Utvikling og salg av interaktive løsninger for anleggsbransjen samt andre produkter/tjenester som naturlig hører sammen med dette, herunder å delta i andre selskap med lignende virksomet, og kjøp og salg av aksjer i andre foretak.
- Morning company class
- Small
- Employees
- 0–4 (not registered) Payroll costs in the accounts: 4.7 MNOK (2025).
- Founded
- 27 January 2006 20 years in operation
- Share capital
- 0.10 MNOK
- Business address
- Strandveien 17, 1366 LYSAKER (BÆRUM)
- Municipality
- Bærum rank 1 of 11 in KOSTRA group 12
- Latest accounts filed
- 2025
- VAT registered
- Yes
- Website
- www.blastmanager.no
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
Blastmanager AS has a score of 78 for 2025, rank 291 of 7,319 in the sector.
Strongest: Liquidity: percentile 97 against peers, current ratio 5.63 against a median of 1.34. Solidity: percentile 97 against peers, equity ratio 84.3% against a median of 34.5%.
No area is clearly below its peers.
Worth a closer look
- 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 648 days (median 73 days).
- The change in operating margin in 2025 was 4.3 percentage points better than for comparable companies: the company +4.6, the industry +0.3 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
Worth a closer look
- 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 648 days (median 73 days).
- positive
Upper quartile on profitability, solidity and liquidity. What sets this company apart from the rest of the sector?
Based on: Operating margin 37.9% (median 5.3%); Equity ratio 84.3% (median 34.5%); Current ratio 5.63 (median 1.34).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 3.7% 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 2026, the sector's weakest year, for this company.
The sector's weakest year was 2026, with a median operating margin of 4.1%. 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 | 85 | weight 40% |
|---|---|---|
| Solidity | 97 | weight 20% |
| Liquidity | 97 | weight 5% |
| Growth | 49 | weight 25% |
| Consistency | 74 | weight 10% |
Three goals: profitability 40%, growth 25%, resilience 35%. Why these weights?
Durability: 81 (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 | 18 MNOK | 20 MNOK |
| Operating margin | 37.9% | 5.3% |
| Profit margin | 48.7% | 5.5% |
| Return on assets | 24.7% | 9.9% |
| Equity ratio | 84.3% | 34.5% |
| Debt-to-equity | 0.19 | 1.61 |
| Current ratio | 5.63 | 1.34 |
| Revenue growth | −1.1% | 7.7% |
The median and “ahead of” refer to companies in the Morning class Small in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 78, Blastmanager AS does better than 97% of companies in the Morning class Small in the same sector (1,532 companies) in 2025.
Score 2023–2025
- Blastmanager 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. |
648 days | 73 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 | 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. |
145.8% | −7.8% | |
| Cash share of current assets How much of the short-term buffer is bank deposits and cash. |
0.7% | 43.2% | |
| 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. |
32.0 | 7.9 | |
| 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. |
3.7% | 1.2% | |
| Long-term share of debt Long-term debt as a share of all debt. A low share means more falls due within a year. |
– | 13.9% | |
Net working capital (current assets less bank deposits less current liabilities): 26.2 MNOK.
Of the financial costs of 0.2 MNOK, 0.2 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 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.
Returns, debt against earnings and quality
| Measure | Company | Median | |
|---|---|---|---|
| Returns | |||
| Return on equity (ROE) Net result over the average of equity at the start and end of the year (the end alone when last year is missing). Not calculated with negative equity. |
25.0% | 20.3% | |
| Return on capital employed (ROCE) Operating result over capital employed, that is total assets less current liabilities. The return regardless of how the company is financed. |
22.3% | 17.9% | |
| Net margin Net result over revenue. The first part of the DuPont split of return on equity. |
37.9% | 4.6% | |
| Asset turnover (revenue over assets) Revenue over total assets: how many kroner of revenue each krone of assets gives. The second part of the DuPont split. |
0.49 | 1.57 | |
| Equity multiplier Total assets over equity: 4 means three quarters is financed with debt. The third part of the DuPont split. |
1.19 | 2.61 | |
| Debt and financing | |||
| Net debt in times operating result Long-term liabilities less cash, over the operating result: roughly how many years the business must earn to repay the debt. A negative figure means more cash than long-term debt. Rough, because the accounts do not split out interest-bearing debt. Only calculated when the operating result is positive. |
– | −0.8 | |
| Fixed-asset cover Equity plus long-term liabilities over fixed assets (total assets less current assets). Below 1: fixed assets are partly financed with short-term debt. |
– | 1.33 | |
| Quick ratio (without inventory) Cash plus receivables over current liabilities. Like the current ratio but without inventory and short-term investments. |
5.63 | 1.27 | |
| Quality and resilience | |||
| Effective tax rate Tax expense over profit before tax, only when the profit is positive. Far from 22% points to one-off items, tax losses carried forward or group contributions. |
22.3% | 22.0% | |
| Operating leverage Percentage change in operating result over percentage change in revenue from last year. 3 means a 1% fall in revenue gives a 3% fall in operating result. Only calculated when revenue moved at least 2% and last year's operating result was positive. |
– | 1.6 | |
| Payroll costs over revenue Payroll costs (with employer's contribution and pension) over revenue. Shows how much of revenue is a fixed cost in a service business. |
26.2% | 42.8% | |
| Revenue safety margin How far revenue can fall before the operating result is zero, assuming payroll is fixed and all other costs follow revenue. A calculation, not a measurement: depreciation and rent are also fixed, so reality is lower. |
59.2% | 19.7% | |
| Cash runway (months) Cash over the operating loss per month, only for years with a loss. Assumes the loss continues unchanged and no new financing arrives. Capped at 120 months. |
– | 10 mo. | |
DuPont on the closing balance: net margin 37.9% × asset turnover 0.49 × multiplier 1.19 = 22.2% of equity at the end of the year. The return on equity above uses average equity and can differ slightly.
The median and the bar are for companies in the Morning class Small in the same sector in 2025. The bar shows the share of the group with a lower figure: high is not always good. The figures are our own calculations from the annual accounts and do not count in the score. Open data has no depreciation, so no EBITDA, and the accounts do not split out interest-bearing debt. How we calculate
The industry or the company: what drove the result?
In 2025 the operating margin of Blastmanager AS rose by 4.6 percentage points. Comparable companies rose by a median 0.3 points. So the company did 4.3 points better than the industry, for reasons of its own.
Over 2 year-to-year changes Blastmanager AS moved the same way as comparable companies 1 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 | 33.4% | 5.0% | +5.6 percentage points | +0.1 percentage points | +5.5 percentage points |
| 2025 | 37.9% | 5.3% | +4.6 percentage points | +0.3 percentage points | +4.3 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 Blastmanager AS. The figures stand side by side; we claim no cause.
Service prices: information and communication (indeks (2021 = 100))
Service prices: information and communication rose 4.0% in 2025; the operating margin of Blastmanager AS rose 4.6 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Service prices: information and communication, annual average | 100.0 | 103.3 | 108.7 | 112.2 | 116.7 | 120.0 (so far) |
| Change from the year before | – | +3.2% | +5.3% | +3.2% | +4.0% | +2.8% |
| The company's operating margin | – | – | 27.7% | 33.4% | 37.9% | – |
Source: SSB (14335, CC BY 4.0). Source
Turnover index: information and communication (indeks (2021 = 100))
Turnover index: information and communication rose 4.6% in 2025; the operating margin of Blastmanager AS rose 4.6 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Turnover index: information and communication, annual average | 99.6 | 111.4 | 126.4 | 128.3 | 134.2 | 141.3 (so far) |
| Change from the year before | +14.7% | +11.8% | +13.5% | +1.5% | +4.6% | +5.3% |
| The company's operating margin | – | – | 27.7% | 33.4% | 37.9% | – |
Source: SSB (13863, CC BY 4.0). Source
USD/NOK (kr)
USD/NOK fell 3.3% in 2025; the operating margin of Blastmanager AS rose 4.6 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| USD/NOK, annual average | 8.59 | 9.61 | 10.56 | 10.75 | 10.39 | 9.54 (so far) |
| Change from the year before | −8.8% | +11.9% | +9.9% | +1.7% | −3.3% | −8.2% |
| The company's operating margin | – | – | 27.7% | 33.4% | 37.9% | – |
Source: Norges Bank (EXR, NLOD 2.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Blastmanager AS rose 4.6 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 | – | – | 27.7% | 33.4% | 37.9% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
Consumer price index (indeks (2025 = 100))
Consumer price index rose 3.0% in 2025; the operating margin of Blastmanager AS rose 4.6 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 | – | – | 27.7% | 33.4% | 37.9% | – |
Source: SSB (14710, CC BY 4.0). Source
Wage index: IT services (indeks)
Wage index: IT services rose 4.4% in 2025; the operating margin of Blastmanager AS rose 4.6 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: IT services, annual average | 84.9 | 87.8 | 92.3 | 97.3 | 101.5 | 105.4 (so far) |
| Change from the year before | +4.9% | +3.5% | +5.1% | +5.4% | +4.4% | +3.8% |
| The company's operating margin | – | – | 27.7% | 33.4% | 37.9% | – |
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
Blastmanager AS had an operating margin of 37.9% and an equity ratio of 84.3% in 2025, and ranks 291 of 7,319 in Informasjon og kommunikasjon.
From 2024 to 2025: the operating margin rose from 33.4% to 37.9%.
This text is generated automatically from the 2025 accounts.
Three simple methods
Suggested price: about 69 MNOK
The mean of the 3 methods below (P/E, EV/EBIT and P/B with listed multiples and a size adjustment), rounded to two significant figures. It is a calculation, not a bid or a valuation.
That is about 34,500 NOK per share, on 2,000 shares in the shareholder register.
The methods give between 60 MNOK and 75 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 18.0 | 71 MNOK |
| EV/EBIT | 14.9 | 60 MNOK |
| P/B | 3.6 | 75 MNOK |
| EV/EBIT: from enterprise value to equity | NOK |
|---|---|
| Enterprise value (EV) at the listed multiple | 88 MNOK |
| Enterprise value after the size adjustment | 60 MNOK |
| Less net debt (rough figure) | 0 MNOK |
| Equity value | 60 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.
The listed basis is the value at listed multiples. The estimate is lowered for size: a small-company premium of 3% on the cost of equity gives a value 32% 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 (62): Computer 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
Figures you will not find in any register
We calculated these figures ourselves from the accounts and registers we have read. The company has not reported them and the Brønnøysund Register Centre does not publish them. They are indications and are not part of the index. How we calculate
- Equity paid out or paid in
- Equity moved as the result implied in 2025.
Over 2 years it equals 0% of the sum of the results.
Calculated as retained earnings at the start of the year + net result − retained earnings at the end of the year. What remains is dividends and group contributions, plus transfers to other items and corrections of earlier years. It is not a dividend figure. - Owners and leadership aged 60 or older
- No sign of a near generation change in the ages.
- The chair is under 60.
- The managing director is under 60.
- 0 of 2 on the board are 60 or older.
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
Questions and answers
How profitable is Blastmanager AS?
The operating margin was 37.9% in 2025, against a median of 5.3% among companies in the Morning class Small in the same sector. Return on assets was 24.7%.
How solid is Blastmanager AS?
The equity ratio was 84.3% in 2025 (median 34.5%). Debt-to-equity was 0.19 (median 1.61).
What is the liquidity of Blastmanager AS like?
The current ratio was 5.63 in 2025 (median 1.34).
How does Blastmanager AS compare in Informasjon og kommunikasjon?
Blastmanager AS ranks 291 of 7,319 in Informasjon og kommunikasjon for 2025. Among companies in the Morning class Small it is number 53 of 1,532. Revenue changed by −1.1% 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 |
|---|---|---|---|---|
| Dotnet Internals AS · same municipality |  Lion |
18 MNOK | 15.2% | 58 |
| Gastro Planner AS | Lion |
18 MNOK | 30.5% | 78 |
| Kogenta AS |  Beaver |
18 MNOK | 6.0% | 31 |
| Blastmanager AS (this company) | Lion |
18 MNOK | 37.9% | 78 |
| Vind Technologies AS | Beaver |
18 MNOK | −90.3% | 28 |
| Findable AS |  Elephant |
18 MNOK | −241.9% | 35 |
| Memcare AS · same municipality | Beaver |
18 MNOK | −121.4% | 28 |
| Kommunion AS | Elephant |
18 MNOK | 0.9% | 45 |
| Retailhub AS | Beaver |
18 MNOK | −0.4% | 37 |
The selection is the closest in revenue within the same industry code. When you order, you can swap competitors. Order competitor analysis
Ownership and roles
Loading roles …
Source: Central Coordinating Register, fetched 7 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: Infobric AB
- Infobric 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): Infobric AB
Departed (companies): T Hustveit AS, View Group Itc AS
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 10 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 87 | 79 | 78 | |
| Rank | 193 | 256 | 291 | |
| Operating margin | 27.7% | 33.4% | 37.9% | |
| Return on assets | 25.4% | 26.8% | 24.7% | |
| Equity ratio | 75.5% | 80.4% | 84.3% | |
| Current ratio | 3.25 | 4.36 | 5.63 | |
| Revenue growth | – | 1.8% | −1.1% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 17.8 MNOK | 18.1 MNOK | 17.9 MNOK |
| Operating profit | 4.9 MNOK | 6.1 MNOK | 6.8 MNOK |
| Profit before tax | 5.8 MNOK | 7.8 MNOK | 8.7 MNOK |
| Tax expense | 1.3 MNOK | 1.7 MNOK | 1.9 MNOK |
| Net profit | 4.6 MNOK | 6.1 MNOK | 6.8 MNOK |
| Financial expenses | 0.1 MNOK | 0.1 MNOK | 0.2 MNOK |
| Total assets | 23.4 MNOK | 29.6 MNOK | 36.3 MNOK |
| Current assets | 18.6 MNOK | 25.3 MNOK | 32.1 MNOK |
| Equity | 17.7 MNOK | 23.8 MNOK | 30.6 MNOK |
| Retained earnings | 17.6 MNOK | 23.7 MNOK | 30.5 MNOK |
| Total liabilities | 5.7 MNOK | 5.8 MNOK | 5.7 MNOK |
| Current liabilities | 5.7 MNOK | 5.8 MNOK | 5.7 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 10 November 2026, accounts id 6404195.
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News and announcements
- 5 February 2026 Ny forretningsadresse (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