VA Systemer AS
Score · fiscal year 2025
54of 100
How to read this: the company is ahead of 57 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 4,895 of 11,289 · What are Morning company classes?
Place in the whole sector: 9,972 of 22,952 · Handel
Profile
Elephant · Steward
Lower profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 18 and solidity 97 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
VA Systemer AS is 4 points above the median for companies in the Morning class Micro in the same sector in 2025.
Median score 50 among 11,286 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin −9.4% (median 2.6%) and equity ratio 93.5% (median 33.5%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 8 MNOK | 4 MNOK |
| Operating margin | −9.4% | 2.6% |
| Profit margin | −9.0% | 2.1% |
| Return on assets | −6.7% | 6.1% |
| Equity ratio | 93.5% | 33.5% |
| Debt-to-equity | 0.07 | 1.25 |
| Current ratio | 15.20 | 1.74 |
| Revenue growth | −38.2% | 4.0% |
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 54, VA Systemer AS does better than 57% of companies in the Morning class Micro in the same sector (11,289 companies) in 2025.
Score 2023–2025
- VA Systemer AS
- Median: companies in the Morning class Micro in the same sector
VA Systemer AS has a score of 54 for 2025, rank 9,972 of 22,952 in the sector.
Strongest: Solidity: percentile 97 against peers, equity ratio 93.5% against a median of 33.5%. Liquidity: percentile 97 against peers, current ratio 15.20 against a median of 1.74.
Weakest: Growth: percentile 5 against peers, revenue growth −38.2% against a median of 4.0%. Profitability: percentile 18 against peers, operating margin −9.4% against a median of 2.6%.
Worth a closer look
- The company made a loss before tax. Are these one-off items or a pattern? Based on: profit margin −9.0% (median 2.1%).
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin −9.4% (median 2.6%).
- 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
What the numbers say
VA Systemer AS had an operating margin of −9.4% and an equity ratio of 93.5% in 2025, and ranks 9,972 of 22,952 in Handel.
From 2024 to 2025: the operating margin fell from 14.1% to −9.4% and went from a profit to a loss before tax.
This text is generated automatically from the 2025 accounts.
Three simple methods
One method gives a figure: 10 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | not meaningful |
| EV/EBIT | 8.0 | not meaningful |
| P/B | 1.0 | 10 MNOK |
A mechanical estimate from public accounts, not advice. Mechanical estimate from public accounts with fixed multiples. Not a valuation and not advice to buy or sell. The multiples are provisional default values and must be adjusted per sector before the figures are used for anything. 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 −9.0% (median 2.1%).
- 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 −9.4% (median 2.6%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 1.1% 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
No anomalies found in the figures.
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 1.5%. Based on the 11 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 18 | weight 30% |
|---|---|---|
| Solidity | 97 | weight 25% |
| Liquidity | 97 | weight 15% |
| Growth | 5 | weight 15% |
| Consistency | 56 | weight 15% |
Durability: 74 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is VA Systemer AS?
The operating margin was −9.4% in 2025, against a median of 2.6% among companies in the Morning class Micro in the same sector. Return on assets was −6.7%. The company made a loss before tax.
How solid is VA Systemer AS?
The equity ratio was 93.5% in 2025 (median 33.5%). Debt-to-equity was 0.07 (median 1.25).
What is the liquidity of VA Systemer AS like?
The current ratio was 15.20 in 2025 (median 1.74).
How does VA Systemer AS compare in Handel?
VA Systemer AS ranks 9,972 of 22,952 in Handel for 2025. Among companies in the Morning class Micro it is number 4,895 of 11,289. Revenue changed by −38.2% from the year before.
From the Central Coordinating Register
- Org. no.
- 990316872
- Legal form
- AS
- Sector
- Handel (46.630)
- Morning company class
- Micro
- Employees
- 0–4 (not registered)
- Founded
- 29 June 2006 20 years in operation
- Share capital
- 0.10 MNOK
- Business address
- Industrivegen 36, 2680 VÅGÅ
- Municipality
- Vågå rank 8–22 of 39 in KOSTRA group 4
- 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
- Chief executive
- Emil Skottlien
- Chair of the board
- Emil Skottlien
- Deputy member
- Tone Bakken
- Auditor
- Cedra Norge AS
- Accountant
- Vågå Regnskap SA
Source: Central Coordinating Register, fetched 29 October 2026. Only names are shown.
Owners and shareholdings will appear here once the shareholder data extract is in place.
Coming · not built yet
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 29 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 81 | 87 | 54 | |
| Rank | 1,684 | 222 | 9,972 | |
| Operating margin | 4.5% | 14.1% | −9.4% | |
| Return on assets | 3.9% | 15.5% | −6.7% | |
| Equity ratio | 91.4% | 88.6% | 93.5% | |
| Current ratio | 11.31 | 8.69 | 15.20 | |
| Revenue growth | – | 47.9% | −38.2% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 9.0 MNOK | 13.3 MNOK | 8.2 MNOK |
| Operating profit | 0.4 MNOK | 1.9 MNOK | −0.8 MNOK |
| Profit before tax | 0.4 MNOK | 1.9 MNOK | −0.7 MNOK |
| Net profit | 0.3 MNOK | 1.5 MNOK | −0.7 MNOK |
| Financial expenses | 0.0 MNOK | 0.0 MNOK | 0.0 MNOK |
| Total assets | 10.4 MNOK | 12.3 MNOK | 10.9 MNOK |
| Current assets | 10.2 MNOK | 12.2 MNOK | 10.8 MNOK |
| Equity | 9.5 MNOK | 10.9 MNOK | 10.2 MNOK |
| Retained earnings | 9.4 MNOK | 10.8 MNOK | 10.1 MNOK |
| Total liabilities | 0.9 MNOK | 1.4 MNOK | 0.7 MNOK |
| Current liabilities | 0.9 MNOK | 1.4 MNOK | 0.7 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 29 October 2026, accounts id 6835458.
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