Acj AS
Score · fiscal year 2025
43of 100
How to read this: the company is ahead of 36 % of companies in the Morning class Small in the same sector in 2025. What does this mean?
Rank in the Morning class Small: 1,359 of 2,119 · What are Morning company classes?
Place in the whole sector: 3,623 of 5,998 · Overnatting og servering
Profile
Beaver · Builder
Lower profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 46 and solidity 42 out of 100 among companies in the Morning class Small in the same sector in 2025. Methodology
Against the sector
Acj AS is 7 points below the median for companies in the Morning class Small in the same sector in 2025.
Median score 50 among 2,119 companies.
Against companies in the Morning class Small in the same sector in 2025: operating margin 5.2% (median 5.0%) and equity ratio 17.6% (median 19.3%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 22 MNOK | 17 MNOK |
| Operating margin | 5.2% | 5.0% |
| Profit margin | 4.4% | 4.6% |
| Return on assets | 10.2% | 14.4% |
| Equity ratio | 17.6% | 19.3% |
| Debt-to-equity | 4.68 | 2.95 |
| Current ratio | 0.82 | 1.04 |
| Revenue growth | 7.3% | 5.7% |
| Revenue per employee | 0.74 MNOK | 0.73 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 43, Acj AS does better than 36% of companies in the Morning class Small in the same sector (2,119 companies) in 2025.
Score 2023–2025
- Acj AS
- Median: companies in the Morning class Small in the same sector
Acj AS has a score of 43 for 2025, rank 3,623 of 5,998 in the sector.
Strongest: Growth: percentile 55 against peers, revenue growth 7.3% against a median of 5.7%.
Weakest: Liquidity: percentile 30 against peers, current ratio 0.82 against a median of 1.04. Consistency: percentile 37 against peers.
Worth a closer look
- Consider strengthening liquidity: current liabilities are 1.2 times current assets. Based on: current ratio 0.82 (median 1.04).
- What lies behind weak consistency, and will it last?
- The change in operating margin in 2025 was 5.8 percentage points better than for comparable companies: the company +6.0, the industry +0.2 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
The industry or the company: what drove the result?
In 2025 the operating margin of Acj AS rose by 6.0 percentage points. Comparable companies rose by a median 0.2 points. So the company did 5.8 points better than the industry, for reasons of its own.
Over 2 year-to-year changes Acj AS moved the same way as comparable companies 1 times. About 7% 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 | −0.8% | 4.8% | +2.2 percentage points | +0.4 percentage points | +1.8 percentage points |
| 2025 | 5.2% | 5.0% | +6.0 percentage points | +0.2 percentage points | +5.8 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 Acj AS. The figures stand side by side; we claim no cause.
Service prices: accommodation and food (indeks (2021 = 100))
Service prices: accommodation and food rose 3.6% in 2025; the operating margin of Acj AS rose 6.0 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Service prices: accommodation and food, annual average | 100.0 | 107.9 | 114.0 | 118.8 | 123.1 | 126.9 (so far) |
| Change from the year before | – | +7.9% | +5.7% | +4.1% | +3.6% | +3.1% |
| The company's operating margin | – | – | −3.0% | −0.8% | 5.2% | – |
Source: SSB (14335, CC BY 4.0). Source
Turnover index: accommodation and food service (indeks (2021 = 100))
Turnover index: accommodation and food service rose 2.3% in 2025; the operating margin of Acj AS rose 6.0 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Turnover index: accommodation and food service, annual average | 97.0 | 139.7 | 153.5 | 157.8 | 161.5 | 170.4 (so far) |
| Change from the year before | +23.4% | +44.1% | +9.9% | +2.8% | +2.3% | +5.5% |
| The company's operating margin | – | – | −3.0% | −0.8% | 5.2% | – |
Source: SSB (13863, CC BY 4.0). Source
Consumer price index (indeks (2025 = 100))
Consumer price index rose 3.0% in 2025; the operating margin of Acj AS rose 6.0 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Consumer price index, annual average | 84.3 | 89.2 | 94.1 | 97.0 | 100.0 | 102.9 (so far) |
| Change from the year before | +3.5% | +5.8% | +5.5% | +3.2% | +3.0% | +2.9% |
| The company's operating margin | – | – | −3.0% | −0.8% | 5.2% | – |
Source: SSB (14710, CC BY 4.0). Source
EUR/NOK (kr)
EUR/NOK rose 0.8% in 2025; the operating margin of Acj AS rose 6.0 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| EUR/NOK, annual average | 10.16 | 10.10 | 11.42 | 11.62 | 11.72 | 11.04 (so far) |
| Change from the year before | −5.2% | −0.6% | +13.1% | +1.8% | +0.8% | −5.8% |
| The company's operating margin | – | – | −3.0% | −0.8% | 5.2% | – |
Source: Norges Bank (EXR, NLOD 2.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Acj AS rose 6.0 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 | – | – | −3.0% | −0.8% | 5.2% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
Wage index: food and beverage service (indeks)
Wage index: food and beverage service rose 6.5% in 2025; the operating margin of Acj AS rose 6.0 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: food and beverage service, annual average | 88.0 | 91.3 | 96.4 | 101.5 | 108.1 | 110.6 (so far) |
| Change from the year before | +3.5% | +3.8% | +5.6% | +5.4% | +6.5% | +2.3% |
| The company's operating margin | – | – | −3.0% | −0.8% | 5.2% | – |
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
Acj AS had an operating margin of 5.2% and an equity ratio of 17.6% in 2025, and ranks 3,623 of 5,998 in Overnatting og servering.
From 2024 to 2025: went from a loss to a profit before tax and the operating margin rose from −0.8% to 5.2%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 1 MNOK and 3 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 17.4 | not meaningful |
| EV/EBIT | 15.5 | 1 MNOK |
| P/B | 3.5 | 3 MNOK |
The listed basis is the value at listed multiples. The estimate is lowered by 51% for an unlisted company: 20% for lack of marketability and 38% for size (a small-company premium of 4% on the cost of equity).
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
Consider strengthening liquidity: current liabilities are 1.2 times current assets.
Based on: Current ratio 0.82 (median 1.04).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 1.8% 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 1.3%. Based on the 9 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 46 | weight 30% |
|---|---|---|
| Solidity | 42 | weight 25% |
| Liquidity | 30 | weight 15% |
| Growth | 55 | weight 15% |
| Consistency | 37 | weight 15% |
Durability: 28 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Acj AS?
The operating margin was 5.2% in 2025, against a median of 5.0% among companies in the Morning class Small in the same sector. Return on assets was 10.2%.
How solid is Acj AS?
The equity ratio was 17.6% in 2025 (median 19.3%). Debt-to-equity was 4.68 (median 2.95).
What is the liquidity of Acj AS like?
The current ratio was 0.82 in 2025 (median 1.04). Current assets did not cover current liabilities.
How does Acj AS compare in Overnatting og servering?
Acj AS ranks 3,623 of 5,998 in Overnatting og servering for 2025. Among companies in the Morning class Small it is number 1,359 of 2,119. Revenue changed by 7.3% from the year before.
Group structure · 2025
6 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 Tre Holding AS.
Group accounts. Tre Holding AS for 2023: index 42 of 100, number 15 of 26 groups. See the group accounts
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.
- 995372134
- Legal form
- AS
- Sector
- Overnatting og servering (56.110)
- Morning company class
- Small
- Employees
- 30 registered 10 September 2026
- Founded
- 30 January 2010 16 years in operation
- Share capital
- 0.44 MNOK
- Business address
- c/o Jessheim storsenter, Storgata 4, 2050 JESSHEIM (ULLENSAKER)
- Municipality
- Ullensaker rank 4–12 of 13 in KOSTRA group 10
- 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
Loading roles …
Source: Central Coordinating Register, fetched 31 October 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: Tre Holding AS (100%)
Ultimate owner: Tre Holding AS
- Tre 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.
Figures last fetched 4 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 21 | 20 | 43 | |
| Rank | 4,279 | 4,918 | 3,623 | |
| Operating margin | −3.0% | −0.8% | 5.2% | |
| Return on assets | −5.2% | −1.6% | 10.2% | |
| Equity ratio | 7.9% | 6.9% | 17.6% | |
| Current ratio | 0.66 | 0.57 | 0.82 | |
| Revenue growth | – | −9.2% | 7.3% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 22.7 MNOK | 20.6 MNOK | 22.1 MNOK |
| Operating profit | −0.7 MNOK | −0.2 MNOK | 1.1 MNOK |
| Profit before tax | −0.9 MNOK | −0.4 MNOK | 1.0 MNOK |
| Tax expense | −0.2 MNOK | −0.1 MNOK | 0.2 MNOK |
| Net profit | −0.7 MNOK | −0.3 MNOK | 0.8 MNOK |
| Financial expenses | 0.2 MNOK | 0.2 MNOK | 0.2 MNOK |
| Total assets | 12.9 MNOK | 10.2 MNOK | 11.3 MNOK |
| Current assets | 5.9 MNOK | 4.1 MNOK | 6.1 MNOK |
| Equity | 1.0 MNOK | 0.7 MNOK | 2.0 MNOK |
| Retained earnings | −1.9 MNOK | −2.2 MNOK | −1.4 MNOK |
| Total liabilities | 11.9 MNOK | 9.5 MNOK | 9.3 MNOK |
| Current liabilities | 9.0 MNOK | 7.2 MNOK | 7.5 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 4 November 2026, accounts id 7108671.
Further
Similar companies
- Øyvind Thorsen AS index 43, rank 3,619 · compare
- Angvik Hotelldrift AS index 43, rank 3,626 · compare
- Evino Masan AS index 43, rank 3,628 · compare
- Paparazzi AS index 43, rank 3,631 · compare
- Mediterranean Grill AS index 43, rank 3,636 · compare