Bte 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 77.8% Better than the industry Industry: 7.8%
- Returns · return on assets 8.4% Weaker than the industry Industry: 14.1%
- Solidity · equity ratio 92.2% Better than the industry Industry: 43.1%
- Liquidity · current ratio 0.73 Weaker than the industry Industry: 1.71
- Growth · revenue growth −24.4% Weaker than the industry Industry: 6.8%
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 2025
Not enough data: Not enough data (below minimum revenue)
Based on the annual accounts for 2025
How it has gone · 2023–2025
Revenue fell by 51 % from 2023 to 2025, to 0.6 MNOK. The operating margin fell from 82.2% in 2023 to 77.8% in 2025. The equity ratio rose from 80.5% in 2023 to 92.2% 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 | 1.2 MNOK | 0.8 MNOK | 0.6 MNOK |
| Operating profit | 1.0 MNOK | 0.7 MNOK | 0.4 MNOK |
| Net profit | 0.8 MNOK | 0.7 MNOK | 0.3 MNOK |
| Total assets | 4.8 MNOK | 5.3 MNOK | 5.3 MNOK |
| Equity | 3.9 MNOK | 4.5 MNOK | 4.9 MNOK |
| Total liabilities | 0.9 MNOK | 0.8 MNOK | 0.4 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.
- 996391469
- Legal form
- AS
- Sector
- Teknisk tjenesteyting og forskning (71.121)
- Purpose
- Rådgiving innenfor bygg- og anleggsbransjen, taksering av eiendom, samt investering og utvikling i eiendom, herunder å delta i andre selskaper med lignende virksomhet, kjøp og salg av aksjer, eller på annen måte gjøre seg interessert i andre foretagender.
- Morning company class
- Micro
- Employees
- 0–4 (not registered) Payroll costs in the accounts: 0.0 MNOK (2025).
- Founded
- 29 December 2010 15 years in operation
- Share capital
- 0.10 MNOK
- Business address
- Bygdevegen 120, 3588 DAGALI (HOL)
- Municipality
- Hol rank 1 of 9 in KOSTRA group 3
- Audit
- Audit opted out from 2 September 2013
- Latest accounts filed
- 2025
- VAT registered
- Yes
- Former names
- BTE BJØRKHEIM TAKST & Eiendom AS until 2025
- LEI
- 549300TO23KXOFF1KJ53 renews 16 December 2027
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
- watch
Consider strengthening liquidity: current liabilities are 1.4 times current assets.
Based on: Current ratio 0.73 (median 1.71).
- watch
Current liabilities exceed current assets other than bank deposits, and the current ratio is weak. Is it customer prepayments and supplier credit that fund the operations, or short-term loans that must be renewed?
Based on: Net working capital to revenue −63.2% (median −7.1%); Current ratio 0.73 (median 1.71).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 0.3% 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 2021, the sector's weakest year, for this company.
The sector's weakest year was 2021, with a median operating margin of −0.2%. 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 | 1 MNOK | 2 MNOK |
| Operating margin | 77.8% | 7.8% |
| Profit margin | 77.8% | 7.8% |
| Return on assets | 8.4% | 14.1% |
| Equity ratio | 92.2% | 43.1% |
| Debt-to-equity | 0.08 | 1.04 |
| Current ratio | 0.73 | 1.71 |
| Revenue growth | −24.4% | 6.8% |
The median and “ahead of” refer to companies in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
Score over time
Score over time needs at least two fiscal years with a score. It will appear when next year's figures are fetched or history is imported.
Working capital and debt
| Measure | Company | Median | |
|---|---|---|---|
| Working capital | |||
| Receivable days All current receivables, including those on group companies, in days of revenue. |
32 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. |
−63.2% | −7.1% | |
| Cash share of current assets How much of the short-term buffer is bank deposits and cash. |
83.2% | 57.8% | |
| 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. |
419.9 | 14.9 | |
| 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. |
0.3% | 0.6% | |
| Long-term share of debt Long-term debt as a share of all debt. A low share means more falls due within a year. |
– | 2.3% | |
Net working capital (current assets less bank deposits less current liabilities): −0.4 MNOK.
Of the financial costs of 0.0 MNOK, 0.0 MNOK is reported as interest costs in the accounts.
The median and the bar refer to companies in the same sector in 2025. 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.
Returns, debt against earnings and quality
| Measure | Company | Median | |
|---|---|---|---|
| Returns | |||
| Return on equity (ROE) Net result over the average of equity at the start and end of the year (the end alone when last year is missing). Not calculated with negative equity. |
7.3% | 24.6% | |
| Return on capital employed (ROCE) Operating result over capital employed, that is total assets less current liabilities. The return regardless of how the company is financed. |
9.1% | 23.2% | |
| Net margin Net result over revenue. The first part of the DuPont split of return on equity. |
60.7% | 6.2% | |
| Asset turnover (revenue over assets) Revenue over total assets: how many kroner of revenue each krone of assets gives. The second part of the DuPont split. |
0.11 | 1.71 | |
| Equity multiplier Total assets over equity: 4 means three quarters is financed with debt. The third part of the DuPont split. |
1.08 | 2.04 | |
| Debt and financing | |||
| Net debt in times operating result Long-term liabilities less cash, over the operating result: roughly how many years the business must earn to repay the debt. A negative figure means more cash than long-term debt. Rough, because the accounts do not split out interest-bearing debt. Only calculated when the operating result is positive. |
– | −1.2 | |
| Fixed-asset cover Equity plus long-term liabilities over fixed assets (total assets less current assets). Below 1: fixed assets are partly financed with short-term debt. |
– | 2.03 | |
| Quick ratio (without inventory) Cash plus receivables over current liabilities. Like the current ratio but without inventory and short-term investments. |
0.73 | 1.54 | |
| Quality and resilience | |||
| Effective tax rate Tax expense over profit before tax, only when the profit is positive. Far from 22% points to one-off items, tax losses carried forward or group contributions. |
21.9% | 22.0% | |
| Operating leverage Percentage change in operating result over percentage change in revenue from last year. 3 means a 1% fall in revenue gives a 3% fall in operating result. Only calculated when revenue moved at least 2% and last year's operating result was positive. |
1.4 | 1.6 | |
| Payroll costs over revenue Payroll costs (with employer's contribution and pension) over revenue. Shows how much of revenue is a fixed cost in a service business. |
0.9% | 51.0% | |
| Revenue safety margin How far revenue can fall before the operating result is zero, assuming payroll is fixed and all other costs follow revenue. A calculation, not a measurement: depreciation and rent are also fixed, so reality is lower. |
98.9% | 23.9% | |
| Cash runway (months) Cash over the operating loss per month, only for years with a loss. Assumes the loss continues unchanged and no new financing arrives. Capped at 120 months. |
– | 17 mo. | |
DuPont on the closing balance: net margin 60.7% × asset turnover 0.11 × multiplier 1.08 = 7.1% of equity at the end of the year. The return on equity above uses average equity and can differ slightly.
The median and the bar are for companies in the same sector in 2025. The bar shows the share of the group with a lower figure: high is not always good. The figures are our own calculations from the annual accounts and do not count in the score. Open data has no depreciation, so no EBITDA, and the accounts do not split out interest-bearing debt. How we calculate
The industry or the company: what drove the result?
In 2025 the operating margin of Bte AS fell by 10.2 percentage points. Comparable companies fell by a median 0.2 points. So the company did 10.0 points weaker than the industry, for reasons of its own.
Over 2 year-to-year changes Bte AS moved the same way as comparable companies 1 times. About 4% 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 | 88.1% | 8.0% | +5.9 percentage points | −0.5 percentage points | +6.4 percentage points |
| 2025 | 77.8% | 7.8% | −10.2 percentage points | −0.2 percentage points | −10.0 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 Bte AS. The figures stand side by side; we claim no cause.
Turnover index: architectural and engineering activities (indeks (2021 = 100))
Turnover index: architectural and engineering activities rose 8.1% in 2025; the operating margin of Bte AS fell 10.2 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Turnover index: architectural and engineering activities, annual average | 99.0 | 108.8 | 127.9 | 146.4 | 158.3 | 155.2 (so far) |
| Change from the year before | +9.8% | +9.9% | +17.5% | +14.5% | +8.1% | −1.9% |
| The company's operating margin | – | – | 82.2% | 88.1% | 77.8% | – |
Source: SSB (13863, CC BY 4.0). Source
Turnover index: advertising and market research (indeks (2021 = 100))
Turnover index: advertising and market research rose 3.6% in 2025; the operating margin of Bte AS fell 10.2 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Turnover index: advertising and market research, annual average | 99.4 | 113.5 | 108.3 | 106.9 | 110.7 | 126.1 (so far) |
| Change from the year before | +35.1% | +14.2% | −4.6% | −1.3% | +3.6% | +13.9% |
| The company's operating margin | – | – | 82.2% | 88.1% | 77.8% | – |
Source: SSB (13863, CC BY 4.0). Source
Turnover index: other professional and technical activities (indeks (2021 = 100))
Turnover index: other professional and technical activities rose 6.2% in 2025; the operating margin of Bte AS fell 10.2 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Turnover index: other professional and technical activities, annual average | 98.3 | 121.6 | 139.4 | 131.0 | 139.1 | 158.0 (so far) |
| Change from the year before | +29.9% | +23.7% | +14.6% | −6.0% | +6.2% | +13.6% |
| The company's operating margin | – | – | 82.2% | 88.1% | 77.8% | – |
Source: SSB (13863, CC BY 4.0). Source
Service prices: architects and engineering (indeks (2021 = 100))
Service prices: architects and engineering rose 3.2% in 2025; the operating margin of Bte AS fell 10.2 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Service prices: architects and engineering, annual average | 100.0 | 103.6 | 107.5 | 111.2 | 114.7 | 119.4 (so far) |
| Change from the year before | +1.2% | +3.5% | +3.8% | +3.4% | +3.2% | +4.2% |
| The company's operating margin | – | – | 82.2% | 88.1% | 77.8% | – |
Source: SSB (14335, CC BY 4.0). Source
Oil price (export price of crude oil) (kr per fat)
Oil price (export price of crude oil) fell 17.6% in 2025; the operating margin of Bte AS fell 10.2 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Oil price (export price of crude oil), annual average | 609 | 979 | 877 | 859 | 708 | 881 (so far) |
| Change from the year before | +61.1% | +60.8% | −10.5% | −2.0% | −17.6% | +24.5% |
| The company's operating margin | – | – | 82.2% | 88.1% | 77.8% | – |
Source: SSB (08799, CC BY 4.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Bte AS fell 10.2 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 | – | – | 82.2% | 88.1% | 77.8% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
EUR/NOK (kr)
EUR/NOK rose 0.8% in 2025; the operating margin of Bte AS fell 10.2 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 | – | – | 82.2% | 88.1% | 77.8% | – |
Source: Norges Bank (EXR, NLOD 2.0). Source
Wage index: architects and engineering (indeks)
Wage index: architects and engineering rose 4.7% in 2025; the operating margin of Bte AS fell 10.2 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: architects and engineering, annual average | 90.5 | 90.9 | 96.0 | 100.9 | 105.6 | 109.2 (so far) |
| Change from the year before | +7.4% | +0.5% | +5.6% | +5.2% | +4.7% | +3.4% |
| The company's operating margin | – | – | 82.2% | 88.1% | 77.8% | – |
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
Bte AS had an equity ratio of 92.2% in 2025. The company is not ranked: not enough data (below minimum revenue).
From 2024 to 2025: the operating margin fell from 88.1% to 77.8% and revenue fell by 24%.
This text is generated automatically from the 2025 accounts.
Three simple methods
Suggested price: about 6 MNOK
The mean of the 3 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. The median of the methods is 6 MNOK. The mean is the suggested price, but the median is less sensitive to one method that deviates.
That is about 62,000 NOK per share, on 100 shares in the shareholder register.
The methods give between 5 MNOK and 7 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 14.9 | 5 MNOK |
| EV/EBIT | 14.3 | 6 MNOK |
| P/B | 2.3 | 7 MNOK |
| EV/EBIT: from enterprise value to equity | NOK |
|---|---|
| Enterprise value (EV) at the listed multiple | 10 MNOK |
| Enterprise value after the size adjustment | 6 MNOK |
| Less net debt (rough figure) | 0 MNOK |
| Equity value | 6 MNOK |
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.
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 (71.1): Engineering/Construction.
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
- Implied dividend (net payout)
- Equity moved as the result implied in 2025.
Over 2 years it equals 0% of the sum of the results.
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.
- The managing director 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 Bte AS?
The operating margin was 77.8% in 2025, against a median of 7.8% among companies in the same sector. Return on assets was 8.4%.
How solid is Bte AS?
The equity ratio was 92.2% in 2025 (median 43.1%). Debt-to-equity was 0.08 (median 1.04).
What is the liquidity of Bte AS like?
The current ratio was 0.73 in 2025 (median 1.71). Current assets did not cover current liabilities.
Ownership and roles
Loading roles …
Source: Central Coordinating Register, fetched 8 November 2026. Only names are shown.
- Parent company
- No parent company: owned by persons
Source: GLEIF (Global Legal Entity Identifier Foundation), fetched 30 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 0% · private persons 100% · foreign 0%
- Owned from the same municipality
- 100%
- Group chain
- Ultimate owner: private person
The company is new in the shareholder register in 2025.
The portfolio: 3 of the companies it owns shares in have accounts with us, 0 of them as majority owner. The average index is 34. 0 have negative equity and 2 made a loss in the latest year.
Holds shares in: Norwegian Block Exchange AS (2%), Takstforum Telemark AS (22%), Maconsult AS (50%)
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 | 78 | – | – | |
| Rank | 977 | – | – | |
| Operating margin | 82.2% | 88.1% | 77.8% | |
| Return on assets | 21.2% | 15.9% | 8.4% | |
| Equity ratio | 80.5% | 85.5% | 92.2% | |
| Current ratio | 1.12 | 0.98 | 0.73 | |
| Revenue growth | – | −35.6% | −24.4% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 1.2 MNOK | 0.8 MNOK | 0.6 MNOK |
| Operating profit | 1.0 MNOK | 0.7 MNOK | 0.4 MNOK |
| Profit before tax | 1.0 MNOK | 0.8 MNOK | 0.4 MNOK |
| Tax expense | 0.2 MNOK | 0.2 MNOK | 0.1 MNOK |
| Net profit | 0.8 MNOK | 0.7 MNOK | 0.3 MNOK |
| Financial expenses | 0.0 MNOK | 0.0 MNOK | 0.0 MNOK |
| Total assets | 4.8 MNOK | 5.3 MNOK | 5.3 MNOK |
| Current assets | 1.0 MNOK | 0.7 MNOK | 0.3 MNOK |
| Equity | 3.9 MNOK | 4.5 MNOK | 4.9 MNOK |
| Retained earnings | 3.8 MNOK | 4.4 MNOK | 4.8 MNOK |
| Total liabilities | 0.9 MNOK | 0.8 MNOK | 0.4 MNOK |
| Current liabilities | 0.9 MNOK | 0.8 MNOK | 0.4 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 10 November 2026, accounts id 6880990.
Further
News and announcements
- 6 March 2026 Ny forretningsadresse (opens in a new tab) Source: Brønnøysundregistrene
- 13 December 2025 Nytt foretaksnavn (opens in a new tab) Source: Brønnøysundregistrene
- 13 December 2025 Ny forretningsadresse (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