Brenneriveien 5 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
Score · fiscal year 2024
42of 100
How to read this: the company is ahead of 32 % of companies in the Morning class Micro in the same sector in 2024. What does this mean?
Rank in the Morning class Micro: 15,511 of 22,754 · What are Morning company classes?
Place in the whole sector: 19,622 of 28,613 · Eiendom
Profile
Beaver · Builder
Lower profitability, lower resilience
Position against comparable companies in 2024, not a verdict on the company. Based on profitability 45 and resilience 42 out of 100 among companies in the Morning class Micro in the same sector in 2024. Methodology
Against the sector
Brenneriveien 5 AS is 8 points below the median for companies in the Morning class Micro in the same sector in 2024.
Median score 50 among 22,751 companies.
Against companies in the Morning class Micro in the same sector in 2024: operating margin 45.1% (median 46.9%) and equity ratio 12.5% (median 27.4%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 6 MNOK | 2 MNOK |
| Operating margin | 45.1% | 46.9% |
| Profit margin | 11.2% | 21.7% |
| Return on assets | 6.2% | 7.5% |
| Equity ratio | 12.5% | 27.4% |
| Debt-to-equity | 6.98 | 2.14 |
| Current ratio | 33.41 | 1.37 |
| Revenue growth | −2.7% | 4.9% |
The median and “ahead of” refer to companies in the Morning class Micro in the same sector in 2024. The bar shows the share of companies the figure is ahead of.
With an index of 42, Brenneriveien 5 AS does better than 32% of companies in the Morning class Micro in the same sector (22,754 companies) in 2024.
Score 2023–2025
- Brenneriveien 5 AS
- Median: companies in the Morning class Micro 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. |
697 days | 44 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. |
184.9% | −12.9% | |
| Cash share of current assets How much of the short-term buffer is bank deposits and cash. |
0.0% | 53.5% | |
| 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. |
1.1 | 1.6 | |
| 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% | 5.2% | |
| Long-term share of debt Long-term debt as a share of all debt. A low share means more falls due within a year. |
99.2% | 83.2% | |
Net working capital (current assets less bank deposits less current liabilities): 11.5 MNOK.
Of the financial costs of 2.6 MNOK, 2.6 MNOK is reported as interest costs in the accounts.
The median and the bar refer to companies in the Morning class Micro in the same sector in 2024. 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
Brenneriveien 5 AS had an operating margin of 45.1% and an equity ratio of 12.5% in 2024, and ranks 19,622 of 28,613 in Eiendom.
From 2023 to 2024: the operating margin rose from 42.8% to 45.1%.
This text is generated automatically from the 2024 accounts.
Three simple methods
The methods give between 3 MNOK and 4 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.5 | 4 MNOK |
| EV/EBIT | 19.2 | debt above value |
| P/B | 0.7 | 3 MNOK |
| EV/EBIT: from enterprise value to equity | NOK |
|---|---|
| Enterprise value (EV) at the listed multiple | 53 MNOK |
| Enterprise value after the size adjustment | 33 MNOK |
| Less net debt (rough figure) | 47 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 142% 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
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 697 days (median 44 days).
- watch
The operating result covers the financial costs less than one and a half times. How much higher interest or a weaker year can the company take?
Based on: Interest coverage (times) 1.1 (median 1.6); Financial costs as a share of debt 5.6% (median 5.2%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 5.6% of the debt in 2024. The policy rate averaged 4.50 % 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
What the score is made of
| Profitability | 45 | weight 40% |
|---|---|---|
| Solidity | 27 | weight 20% |
| Liquidity | 96 | weight 5% |
| Growth | 38 | weight 25% |
| Consistency | 44 | weight 10% |
Three goals: profitability 40%, growth 25%, resilience 35%. Why these weights?
Durability: 40 (average over 2 years)
Index version 3. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Brenneriveien 5 AS?
The operating margin was 45.1% in 2024, against a median of 46.9% among companies in the Morning class Micro in the same sector. Return on assets was 6.2%.
How solid is Brenneriveien 5 AS?
The equity ratio was 12.5% in 2024 (median 27.4%). Debt-to-equity was 6.98 (median 2.14).
What is the liquidity of Brenneriveien 5 AS like?
The current ratio was 33.41 in 2024 (median 1.37).
How does Brenneriveien 5 AS compare in Eiendom?
Brenneriveien 5 AS ranks 19,622 of 28,613 in Eiendom for 2024. Among companies in the Morning class Micro it is number 15,511 of 22,754. Revenue changed by −2.7% from the year before.
Group accounts
The company is registered as part of a group, but we have no group accounts for it. Group accounts are filed by the parent company, and open data does not say which company that is.
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.
Group structure · 2025
20 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.
No owner holds more than half of the shares in Spabogruppen AS.
Group accounts. Spabogruppen AS for 2025: index 39 of 100, number 59 of 79 groups. See the group accounts
The group in figures
- Sectors
- Eiendom (18 companies), Annen tjenesteyting (1 company) 19 of 20 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
- 29 in all. Oslo 29 Registered employees in the Central Coordinating Register, by the municipality of the business address. Employees may work elsewhere.
- Loss
- 8 companies: Spabo Eiendom AS, Spabo Næring AS, Clean Kokos AS, Vakre Bygg AS, Markveien 57 AS, Kongens Gate 16 Ålesund AS …
- Changed 2024–2025
- 1 company joined the group: Niels Juels Gate 51 Næring AS. 1 company left.
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.
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.
From the Central Coordinating Register
- Org. no.
- 993637726
- Legal form
- AS · part of a group
- Sector
- Eiendom (68.200)
- Morning company class
- Micro
- Employees
- 0–4 (not registered)
- Founded
- 13 January 2009 17 years in operation
- Share capital
- 0.10 MNOK
- Business address
- Smeltedigelen 1, 0195 OSLO
- Municipality
- Oslo rank 63–220 of 357 in Norway
- Latest accounts filed
- 2025
- Website
- www.spabo.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
Ownership and roles
Loading roles …
Source: Central Coordinating Register, fetched 8 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 0%
- Owned from the same municipality
- 100%
- Group chain
-
Owned by: Spabo Næring AS (100%)
Ultimate owner: Spabogruppen AS
The owner: the majority owner Spabo Næring AS (holds 100%) 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.
- Spabo Næring 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 | 38 | 42 | 34 | |
| Rank | 19,193 | 19,622 | 24,890 | |
| Operating margin | 42.8% | 45.1% | 37.4% | |
| Return on assets | 5.9% | 6.2% | 6.3% | |
| Equity ratio | 11.7% | 12.5% | 16.7% | |
| Current ratio | 31.21 | 33.41 | 0.03 | |
| Revenue growth | – | −2.7% | −3.9% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 6.4 MNOK | 6.2 MNOK | 6.0 MNOK |
| Operating profit | 2.7 MNOK | 2.8 MNOK | 2.2 MNOK |
| Profit before tax | 0.9 MNOK | 0.7 MNOK | 0.1 MNOK |
| Tax expense | 0.2 MNOK | 0.2 MNOK | 0.0 MNOK |
| Net profit | 0.7 MNOK | 0.5 MNOK | 0.1 MNOK |
| Financial expenses | 2.2 MNOK | 2.6 MNOK | 2.7 MNOK |
| Total assets | 52.9 MNOK | 53.6 MNOK | 43.6 MNOK |
| Current assets | 10.8 MNOK | 11.9 MNOK | 1.0 MNOK |
| Equity | 6.2 MNOK | 6.7 MNOK | 7.3 MNOK |
| Retained earnings | −9.5 MNOK | −9.1 MNOK | −9.0 MNOK |
| Total liabilities | 46.7 MNOK | 46.9 MNOK | 36.3 MNOK |
| Current liabilities | 0.3 MNOK | 0.4 MNOK | 33.6 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 10 November 2026, accounts id 5843837.
Further
Similar companies
- Fosse MT Eigedom AS index 42, rank 19,619 · compare
- Luz Teigen Eigedom AS index 42, rank 19,620 · compare
- KNUD HOLMSGT. 5 Eiendom AS index 42, rank 19,621 · compare
- Luramyrveien 75-79 AS index 42, rank 19,623 · compare
- Klein Boligeiendom AS index 42, rank 19,624 · compare