Solvesgate 4 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 same sector. Green is better than most, amber about like the industry and red weaker than most.
- Profitability · operating margin 22.0% Weaker than the industry Industry: 46.0%
- Returns · return on assets 3.3% Weaker than the industry Industry: 7.0%
- Solidity · equity ratio 40.7% Better than the industry Industry: 27.5%
- Liquidity · current ratio 13.76 Better than the industry Industry: 1.38
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 2023
Not enough data: Not enough data (below minimum revenue)
Based on the annual accounts for 2023
How it has gone · 2023–2025
Revenue rose by 419 % from 2023 to 2025, to 2.0 MNOK. The operating margin rose from 22.0% in 2023 to 79.9% in 2025. The equity ratio fell from 40.7% in 2023 to 15.2% 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 | 0.4 MNOK | 1.2 MNOK | 2.0 MNOK |
| Operating profit | 0.1 MNOK | 0.7 MNOK | 1.6 MNOK |
| Net profit | 0.0 MNOK | 0.2 MNOK | 0.3 MNOK |
| Total assets | 6.7 MNOK | 18.5 MNOK | 20.4 MNOK |
| Equity | 2.7 MNOK | 2.8 MNOK | 3.1 MNOK |
| Total liabilities | 3.9 MNOK | 15.7 MNOK | 17.3 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.
- 993054437
- Legal form
- AS
- Sector
- Eiendom (68.200)
- Purpose
- Kjøp, utvikling, utleie og salg av fast eiendom og hva som står i forbindelse med det. Selskapet kan utføre sin virksomhet gjennom deltakelse i andre virksomheter.
- Morning company class
- Micro
- Employees
- 0–4 (not registered)
- Founded
- 4 September 2008 18 years in operation
- Share capital
- 0.10 MNOK
- Business address
- c/o Andreas Nygaard, Nybrottsvegen 52, 2413 ELVERUM
- Municipality
- Elverum rank 25 of 27 in KOSTRA group 9
- Audit
- Audit opted out from 12 November 2021
- Latest accounts filed
- 2025
- VAT registered
- Yes
- Former names
- Vinger Flisa AS until 2024
- LEI
- 8945004QQT3N5YX6K393 not renewed (lapsed)
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
Worth a closer look
- 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) 0.4 (median 1.7); Financial costs as a share of debt 5.6% (median 4.5%).
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −0.9% (median 22.8%).
- 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 169 days (median 47 days).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 5.6% of the debt in 2023. The policy rate averaged 3.54 % 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 15.2%. Based on the 10 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 0 MNOK | 2 MNOK |
| Operating margin | 22.0% | 46.0% |
| Profit margin | −0.9% | 22.8% |
| Return on assets | 3.3% | 7.0% |
| Equity ratio | 40.7% | 27.5% |
| Debt-to-equity | 1.46 | 2.20 |
| Current ratio | 13.76 | 1.38 |
| Revenue growth | – | 5.6% |
The median and “ahead of” refer to companies in the same sector in 2023. The bar shows the share of companies the figure is ahead of.
Score 2023–2025
- Solvesgate 4 AS
- Median: companies 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. |
169 days | 47 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. |
40.8% | −13.4% | |
| Cash share of current assets How much of the short-term buffer is bank deposits and cash. |
38.9% | 54.1% | |
| 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. |
0.4 | 1.7 | |
| 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. |
5.6% | 4.5% | |
| Long-term share of debt Long-term debt as a share of all debt. A low share means more falls due within a year. |
99.5% | 83.0% | |
Net working capital (current assets less bank deposits less current liabilities): 0.2 MNOK.
The median and the bar refer to companies in the same sector in 2023. 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.
What the numbers say
Solvesgate 4 AS had an equity ratio of 40.7% in 2023. The company is not ranked: not enough data (below minimum revenue).
This text is generated automatically from the 2023 accounts.
Three simple methods
The methods give between 0 MNOK and 1 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.5 | 0 MNOK |
| EV/EBIT | 19.2 | debt above value |
| P/B | 0.7 | 1 MNOK |
| EV/EBIT: from enterprise value to equity | NOK |
|---|---|
| Enterprise value (EV) at the listed multiple | 2 MNOK |
| Enterprise value after the size adjustment | 1 MNOK |
| Less net debt (rough figure) | 4 MNOK |
| Equity value | debt above value |
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 381% 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 Solvesgate 4 AS?
The operating margin was 22.0% in 2023, against a median of 46.0% among companies in the same sector. Return on assets was 3.3%. The company made a loss before tax.
How solid is Solvesgate 4 AS?
The equity ratio was 40.7% in 2023 (median 27.5%). Debt-to-equity was 1.46 (median 2.20).
What is the liquidity of Solvesgate 4 AS like?
The current ratio was 13.76 in 2023 (median 1.38).
Group structure · 2025
5 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 Andreas Nygaard Holding AS. Persons are not shown by name.
Andreas Nygaard 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
- Handel (2 companies), Eiendom (3 companies) 5 of 5 companies in the tree have accounts with us. Sectors are sorted by the companies' own revenue, which includes sales between the group's companies.
- Employees in Norway
- 9 in all. Åsnes 9 Registered employees in the Central Coordinating Register, by the municipality of the business address. Employees may work elsewhere.
- Negative equity
- 2 companies: Elgen Eiendomsutleie AS, Andreas Nygaard Holding AS
- Loss
- 3 companies: Flisa Bil AS, Elgen Eiendomsutleie AS, Andreas Nygaard Holding 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.
-
Andreas Nygaard Holding AS
- Solvesgate 4 AS you are here
- Elgen Eiendomsutleie 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.
- Parent company
- No known owner
Source: GLEIF (Global Legal Entity Identifier Foundation), fetched 31 October 2026. The parent is the one the company itself reported to GLEIF.
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: Andreas Nygaard Holding AS (100%)
Ultimate owner: private person
The owner: the majority owner Andreas Nygaard Holding AS (holds 100%) had negative equity in 2025. 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.
- Andreas Nygaard Holding AS · 100.0%
The company is new in the shareholder register in 2025.
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 | – | 54 | 61 | |
| Rank | – | 11,990 | 7,372 | |
| Operating margin | 22.0% | 63.9% | 79.9% | |
| Return on assets | 3.3% | 4.1% | 7.9% | |
| Equity ratio | 40.7% | 15.1% | 15.2% | |
| Current ratio | 13.76 | 0.82 | 1.85 | |
| Revenue growth | – | 203.4% | 71.0% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 0.4 MNOK | 1.2 MNOK | 2.0 MNOK |
| Operating profit | 0.1 MNOK | 0.7 MNOK | 1.6 MNOK |
| Profit before tax | 0.0 MNOK | 0.3 MNOK | 0.4 MNOK |
| Tax expense | 0.0 MNOK | 0.1 MNOK | 0.1 MNOK |
| Net profit | 0.0 MNOK | 0.2 MNOK | 0.3 MNOK |
| Financial expenses | 0.2 MNOK | 0.5 MNOK | 1.2 MNOK |
| Total assets | 6.7 MNOK | 18.5 MNOK | 20.4 MNOK |
| Current assets | 0.3 MNOK | 0.2 MNOK | 0.2 MNOK |
| Equity | 2.7 MNOK | 2.8 MNOK | 3.1 MNOK |
| Retained earnings | 2.6 MNOK | 2.7 MNOK | 3.0 MNOK |
| Total liabilities | 3.9 MNOK | 15.7 MNOK | 17.3 MNOK |
| Current liabilities | 0.0 MNOK | 0.3 MNOK | 0.1 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 10 November 2026, accounts id 4721423.