BELLINGEN AS
Score · fiscal year 2025
77of 100
How to read this: the company is ahead of 95 % of companies in the Morning class Small in the same sector in 2025. What does this mean?
Rank in the Morning class Small: 400 of 7,418 · What are Morning company classes?
Place in the whole sector: 1,307 of 23,065 · Handel
Profile
Lion · Leader
High profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 65 and solidity 98 out of 100 among companies in the Morning class Small in the same sector in 2025. Methodology
Against the sector
BELLINGEN AS is 26 points above the median for companies in the Morning class Small in the same sector in 2025.
Median score 51 among 7,418 companies.
Against companies in the Morning class Small in the same sector in 2025: operating margin 8.2% (median 3.4%) and equity ratio 90.2% (median 36.3%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 13 MNOK | 20 MNOK |
| Operating margin | 8.2% | 3.4% |
| Profit margin | 9.8% | 3.0% |
| Return on assets | 11.3% | 10.0% |
| Equity ratio | 90.2% | 36.3% |
| Debt-to-equity | 0.11 | 1.52 |
| Current ratio | 9.41 | 1.73 |
| Revenue growth | 2.9% | 5.7% |
| Revenue per employee | 1.08 MNOK | 2.08 MNOK |
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 77, BELLINGEN AS does better than 95% of companies in the Morning class Small in the same sector (7,418 companies) in 2025.
Score 2023–2025
- BELLINGEN AS
- Median: companies in the Morning class Small in the same sector
BELLINGEN AS has a score of 77 for 2025, rank 1,307 of 23,065 in the sector.
Strongest: Solidity: percentile 98 against peers, equity ratio 90.2% against a median of 36.3%. Liquidity: percentile 98 against peers, current ratio 9.41 against a median of 1.73.
No area is clearly below its peers.
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
BELLINGEN AS had an operating margin of 8.2% and an equity ratio of 90.2% in 2025, and ranks 1,307 of 23,065 in Handel.
No large changes in the key figures from 2024 to 2025.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 10 MNOK and 17 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 10 MNOK |
| EV/EBIT | 8.0 | 17 MNOK |
| 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
- positive
Upper quartile on profitability, solidity and liquidity. What sets this company apart from the rest of the sector?
Based on: Operating margin 8.2% (median 3.4%); Equity ratio 90.2% (median 36.3%); Current ratio 9.41 (median 1.73).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 0.0% 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.
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 | 65 | weight 30% |
|---|---|---|
| Solidity | 98 | weight 25% |
| Liquidity | 98 | weight 15% |
| Growth | 41 | weight 15% |
| Consistency | 80 | weight 15% |
Durability: 82 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is BELLINGEN AS?
The operating margin was 8.2% in 2025, against a median of 3.4% among companies in the Morning class Small in the same sector. Return on assets was 11.3%.
How solid is BELLINGEN AS?
The equity ratio was 90.2% in 2025 (median 36.3%). Debt-to-equity was 0.11 (median 1.52).
What is the liquidity of BELLINGEN AS like?
The current ratio was 9.41 in 2025 (median 1.73).
How does BELLINGEN AS compare in Handel?
BELLINGEN AS ranks 1,307 of 23,065 in Handel for 2025. Among companies in the Morning class Small it is number 400 of 7,418. Revenue changed by 2.9% from the year before.
From the Central Coordinating Register
- Org. no.
- 990754810
- Legal form
- AS
- Sector
- Handel (47.110)
- Morning company class
- Small
- Employees
- 12 registered 10 June 2026
- Founded
- 29 December 2006 19 years in operation
- Share capital
- 0.10 MNOK
- Business address
- 6166 SÆBØ (ØRSTA)
- Municipality
- Ørsta rank 14–35 of 38 in KOSTRA group 7
- 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
- Jon Arne Årseth
- Chair of the board
- Jon Arne Årseth
- Deputy member
- Anna Dorthea Moan
- Auditor
- BDO AS
- Accountant
- NORGESGRUPPEN REGNSKAP AS
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 | 88 | 80 | 77 | |
| Rank | 591 | 920 | 1,307 | |
| Operating margin | 8.9% | 8.7% | 8.2% | |
| Return on assets | 13.1% | 12.8% | 11.3% | |
| Equity ratio | 88.8% | 91.0% | 90.2% | |
| Current ratio | 8.66 | 10.86 | 9.41 | |
| Revenue growth | – | 5.0% | 2.9% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 11.9 MNOK | 12.5 MNOK | 12.9 MNOK |
| Operating profit | 1.1 MNOK | 1.1 MNOK | 1.1 MNOK |
| Profit before tax | 1.2 MNOK | 1.3 MNOK | 1.3 MNOK |
| Net profit | 0.9 MNOK | 1.0 MNOK | 1.0 MNOK |
| Financial expenses | – | 0.0 MNOK | 0.0 MNOK |
| Total assets | 9.1 MNOK | 10.0 MNOK | 11.2 MNOK |
| Current assets | 8.9 MNOK | 9.8 MNOK | 10.2 MNOK |
| Equity | 8.1 MNOK | 9.1 MNOK | 10.1 MNOK |
| Retained earnings | 8.0 MNOK | 9.0 MNOK | 10.0 MNOK |
| Total liabilities | 1.0 MNOK | 0.9 MNOK | 1.1 MNOK |
| Current liabilities | 1.0 MNOK | 0.9 MNOK | 1.1 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 29 October 2026, accounts id 7106549.
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