Risan Eiendom 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 Morning class Micro in the same sector. Green is better than most, amber about like the industry and red weaker than most.
- Profitability · operating margin −19.0% Weaker than the industry Industry: 46.9%
- Returns · return on assets −0.6% Weaker than the industry Industry: 7.5%
- Solidity · equity ratio 53.4% Better than the industry Industry: 27.4%
- Liquidity · current ratio 7.53 Better than the industry Industry: 1.37
- Growth · revenue growth −15.9% Weaker than the industry Industry: 4.9%
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 2024
27of 100
How to read this: the company is ahead of 11 % of companies in the Morning class Micro in the same sector in 2024. What does this mean?
Rank in the Morning class Micro: 20,308 of 22,747 · What are Morning company classes?
Place in the whole sector: 25,596 of 28,605 · Eiendom
Profile
Elephant · Steward
Lower profitability, high resilience
Position against comparable companies in 2024, not a verdict on the company. Based on profitability 8 and resilience 64 out of 100 among companies in the Morning class Micro in the same sector in 2024. Methodology
Against the sector
Risan Eiendom AS is 23 points below the median for companies in the Morning class Micro in the same sector in 2024.
Median score 50 among 22,744 companies.
Against companies in the Morning class Micro in the same sector in 2024: operating margin −19.0% (median 46.9%) and equity ratio 53.4% (median 27.4%).
How it has gone · 2023–2025
Revenue rose by 37 % from 2023 to 2025, to 2.2 MNOK. The operating margin rose from 34.2% in 2023 to 36.3% in 2025. The equity ratio fell from 55.3% in 2023 to 30.4% 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 | 1.6 MNOK | 1.4 MNOK | 2.2 MNOK |
| Operating profit | 0.6 MNOK | −0.3 MNOK | 0.8 MNOK |
| Net profit | −4.0 MNOK | −1.8 MNOK | −15.4 MNOK |
| Total assets | 45.8 MNOK | 44.0 MNOK | 26.8 MNOK |
| Equity | 25.3 MNOK | 23.5 MNOK | 8.1 MNOK |
| Total liabilities | 20.4 MNOK | 20.5 MNOK | 18.6 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.
- 996208095
- Legal form
- AS
- Sector
- Eiendom (68.200)
- Purpose
- Kjøp, salg, utleie og investering innen eiendom og finans, rådgivnings- og konsulenttjenester samt annet som naturlig faller sammen med dette.
- Morning company class
- Micro
- Employees
- 0–4 (not registered)
- Founded
- 1 October 2010 16 years in operation
- Share capital
- 0.10 MNOK
- Business address
- Heimdalsgata 4, 0561 OSLO
- Municipality
- Oslo rank 63–220 of 357 in Norway
- Audit
- Audit opted out from 5 November 2026
- Latest accounts filed
- 2025
- VAT registered
- No
- Former names
- Grorud Eiendom AS until 2021
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) −0.2 (median 1.6); Financial costs as a share of debt 7.7% (median 5.2%).
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −134.4% (median 21.7%).
- 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 −19.0% (median 46.9%).
- 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 4,235 days (median 44 days).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 7.7% 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 15.0%. 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 | 8 | weight 40% |
|---|---|---|
| Solidity | 70 | weight 20% |
| Liquidity | 85 | weight 5% |
| Growth | 7 | weight 25% |
| Consistency | 40 | weight 10% |
Three goals: profitability 40%, growth 25%, resilience 35%. Why these weights?
Durability: 39 (average over 2 years)
Index version 3. Data completeness 100%: the share of the weights that had data.
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 1 MNOK | 2 MNOK |
| Operating margin | −19.0% | 46.9% |
| Profit margin | −134.4% | 21.7% |
| Return on assets | −0.6% | 7.5% |
| Equity ratio | 53.4% | 27.4% |
| Debt-to-equity | 0.87 | 2.14 |
| Current ratio | 7.53 | 1.37 |
| Revenue growth | −15.9% | 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 27, Risan Eiendom AS does better than 11% of companies in the Morning class Micro in the same sector (22,747 companies) in 2024.
Score 2023–2025
- Risan Eiendom 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. |
4,235 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. |
997.1% | −12.9% | |
| Cash share of current assets How much of the short-term buffer is bank deposits and cash. |
3.9% | 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. |
−0.2 | 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. |
7.7% | 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. |
89.3% | 83.2% | |
The operating result is negative, so the interest coverage is negative: operations cover none of the financial costs.
Net working capital (current assets less bank deposits less current liabilities): 13.7 MNOK.
Of the financial costs of 1.6 MNOK, 1.6 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
Risan Eiendom AS had an operating margin of −19.0% and an equity ratio of 53.4% in 2024, and ranks 25,596 of 28,605 in Eiendom.
From 2023 to 2024: the operating margin fell from 34.2% to −19.0% and revenue fell by 16%.
This text is generated automatically from the 2024 accounts.
Three simple methods
Suggested price: about 10 MNOK
The mean of the 1 methods below (P/E, EV/EBIT and P/B with listed multiples and a size adjustment), rounded to two significant figures. It is a calculation, not a bid or a valuation. Fewer than three methods gave a figure, so the mean is weaker than it looks.
That is about 100,000 NOK per share, on 100 shares in the shareholder register.
One method gives a figure: 10 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.5 | not meaningful |
| EV/EBIT | 19.2 | debt above value |
| P/B | 0.7 | 10 MNOK |
| EV/EBIT: from enterprise value to equity | NOK |
|---|---|
| Enterprise value (EV) at the listed multiple | 3 MNOK |
| Enterprise value after the size adjustment | 2 MNOK |
| Less net debt (rough figure) | 18 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 1,010% 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
Figures you will not find in any register
We calculated these figures ourselves from the accounts and registers we have read. The company has not reported them and the Brønnøysund Register Centre does not publish them. They are indications and are not part of the index. How we calculate
- Equity paid out or paid in
- Equity moved as the result implied in 2025.
Calculated as retained earnings at the start of the year + net result − retained earnings at the end of the year. What remains is dividends and group contributions, plus transfers to other items and corrections of earlier years. It is not a dividend figure. - Owners and leadership aged 60 or older
- No sign of a near generation change in the ages.
- The chair is under 60.
- 0 of 1 on the board are 60 or older.
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
Questions and answers
How profitable is Risan Eiendom AS?
The operating margin was −19.0% in 2024, against a median of 46.9% among companies in the Morning class Micro in the same sector. Return on assets was −0.6%. The company made a loss before tax.
How solid is Risan Eiendom AS?
The equity ratio was 53.4% in 2024 (median 27.4%). Debt-to-equity was 0.87 (median 2.14).
What is the liquidity of Risan Eiendom AS like?
The current ratio was 7.53 in 2024 (median 1.37).
How does Risan Eiendom AS compare in Eiendom?
Risan Eiendom AS ranks 25,596 of 28,605 in Eiendom for 2024. Among companies in the Morning class Micro it is number 20,308 of 22,747. Revenue changed by −15.9% from the year before.
Group structure · 2025
2 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 Risan Eiendom AS. Persons are not shown by name.
Risan Eiendom 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
- Eiendom (2 companies) 2 of 2 companies in the tree have accounts with us. Sectors are sorted by the companies' own revenue, which includes sales between the group's companies.
- Negative equity
- 1 company: Jbg 14B Holding AS
- Loss
- 2 companies: Risan Eiendom AS, Jbg 14B Holding AS
- Changed 2024–2025
- 1 company joined the group: Jbg 14B 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.
-
Risan Eiendom AS you are here
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 7 November 2026. Only names are shown.
Shareholders (2025)
- Number of shareholders
- 1 (one owner)
- Largest owner
- 100.0%
- Split
- companies 0% · private persons 100% · foreign 0%
- Owned from the same municipality
- 0%
- Group chain
- Ultimate owner: private person
The company is new in the shareholder register in 2025.
Majority owner of: Jbg 14B Holding AS (100%)
Holds shares in: Jbg 14B Holding AS (100%)
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 | 51 | 27 | 50 | |
| Rank | 12,928 | 25,596 | 15,161 | |
| Operating margin | 34.2% | −19.0% | 36.3% | |
| Return on assets | 1.2% | −0.6% | 3.4% | |
| Equity ratio | 55.3% | 53.4% | 30.4% | |
| Current ratio | 8.22 | 7.53 | 1.41 | |
| Revenue growth | – | −15.9% | 63.4% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 1.6 MNOK | 1.4 MNOK | 2.2 MNOK |
| Operating profit | 0.6 MNOK | −0.3 MNOK | 0.8 MNOK |
| Profit before tax | −4.0 MNOK | −1.8 MNOK | −13.0 MNOK |
| Tax expense | 0.0 MNOK | – | 2.4 MNOK |
| Net profit | −4.0 MNOK | −1.8 MNOK | −15.4 MNOK |
| Financial expenses | 4.6 MNOK | 1.6 MNOK | 13.9 MNOK |
| Total assets | 45.8 MNOK | 44.0 MNOK | 26.8 MNOK |
| Current assets | 18.1 MNOK | 16.5 MNOK | 5.1 MNOK |
| Equity | 25.3 MNOK | 23.5 MNOK | 8.1 MNOK |
| Retained earnings | 25.2 MNOK | 23.4 MNOK | 8.0 MNOK |
| Total liabilities | 20.4 MNOK | 20.5 MNOK | 18.6 MNOK |
| Current liabilities | 2.2 MNOK | 2.2 MNOK | 3.6 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 10 November 2026, accounts id 5965633.
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News and announcements
- 5 November 2026 Endring av revisor (opens in a new tab) Source: Brønnøysundregistrene
- 7 October 2026 Endring av revisor (opens in a new tab) Source: Brønnøysundregistrene
From official sources: the Brønnøysund Register Centre, Oslo Børs NewsWeb and public agencies. We show the title, date and a link to the source. The link to a company, sector or municipality is automatic and may be wrong. Report a wrong link