NORDIC APPROACH AS
Score · fiscal year 2025
63of 100
How to read this: the company is ahead of 77 % of medium-sized companies in the same sector in 2025. What does this mean?
Rank: 9,280 of 38,670 · Handel
Profile
Lion · Leader
High profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 72 and solidity 50 out of 100 among medium-sized companies in the same sector in 2025. Methodology
Against the sector
NORDIC APPROACH AS is 14 points above the median for medium-sized companies in the same sector in 2025.
Median score 49 among 2,198 companies.
Against medium-sized companies in the same sector in 2025: operating margin 6.9% (median 3.2%) and equity ratio 33.0% (median 32.6%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 261 MNOK | 173 MNOK |
| Operating margin | 6.9% | 3.2% |
| Profit margin | 6.3% | 3.2% |
| Return on assets | 16.4% | 11.6% |
| Equity ratio | 33.0% | 32.6% |
| Debt-to-equity | 2.03 | 2.03 |
| Current ratio | 2.28 | 1.38 |
| Revenue growth | 36.8% | 6.8% |
| Revenue per employee | 11.86 MNOK | 6.45 MNOK |
The median and “ahead of” refer to medium-sized companies in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 63, NORDIC APPROACH AS does better than 77% of medium-sized companies in the same sector (2,203 companies) in 2025.
Score 2023–2025
- NORDIC APPROACH AS
- Median: medium-sized companies in the same sector
NORDIC APPROACH AS has a score of 63 for 2025, rank 9,280 of 38,670 in the sector.
Strongest: Growth: percentile 89 against peers, revenue growth 36.8% against a median of 6.8%. Liquidity: percentile 80 against peers, current ratio 2.28 against a median of 1.38.
Weakest: Consistency: percentile 22 against peers.
Worth a closer look
- What lies behind weak consistency, and will it last?
Written by fixed rules from the figures. Describes the figures, does not explain causes. Not investment or financial advice. How the summary is made
What the numbers say
NORDIC APPROACH AS had an operating margin of 6.9% and an equity ratio of 33.0% in 2025, and ranks 9,280 of 38,670 in Handel.
From 2024 to 2025: revenue grew by 37% and the equity ratio fell from 47.0% to 33.0%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 4 MUSD and 13 MUSD.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 13 MUSD |
| EV/EBIT | 8.0 | 11 MUSD |
| P/B | 1.0 | 4 MUSD |
A mechanical estimate from public accounts, not advice. Mechanical estimate from public accounts with fixed multiples. Not a valuation and not advice to buy or sell. The multiples are provisional default values and must be adjusted per sector before the figures are used for anything. See the calculation
Worth a closer look
No rules were triggered for this year.
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 3.2% 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.
Data quality
- watch Reports in a currency other than NOK
Scenario analysis: the sector's weakest year
We have no accounts for 2017, the sector's weakest year, for this company.
The sector's weakest year was 2017, with a median operating margin of −65.6%. Based on the 11 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 72 | weight 30% |
|---|---|---|
| Solidity | 50 | weight 25% |
| Liquidity | 80 | weight 15% |
| Growth | 89 | weight 15% |
| Consistency | 22 | weight 15% |
Durability: 60 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is NORDIC APPROACH AS?
The operating margin was 6.9% in 2025, against a median of 3.2% among medium-sized companies in the same sector. Return on assets was 16.4%.
How solid is NORDIC APPROACH AS?
The equity ratio was 33.0% in 2025 (median 32.6%). Debt-to-equity was 2.03 (median 2.03).
What is the liquidity of NORDIC APPROACH AS like?
The current ratio was 2.28 in 2025 (median 1.38).
How does NORDIC APPROACH AS compare in Handel?
NORDIC APPROACH AS ranks 9,280 of 38,670 in Handel for 2025. Among companies of the same size (medium-sized companies) it ranks 509 of 2,203. Revenue changed by 36.8% from the year before.
From the Central Coordinating Register
- Org. no.
- 997244753
- Legal form
- AS
- Sector
- Handel (46.370)
- Size tier
- medium
- Employees
- 22 registered 10 May 2026
- Founded
- 10 August 2011 15 years in operation
- Share capital
- 0.34 MNOK
- Business address
- Tøyengata 29C, 0578 OSLO
- Municipality
- Oslo rank 63–221 of 357 in Norway
- Latest accounts filed
- 2025
- Website
- www.nordicapproach.no
- LEI
- 5493003K5FK8RBWTQB11 renews 16 April 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
Ownership and roles
- Chief executive
- Andreas Hertzberg
- Chair of the board
- Philippe Xavier Canadas
- Board member
- Morten Øisang Wennersgaard
- Board member
- Andreas Hertzberg
- Board member
- Christina Lorena Ruth Von Hobe
- Board member
- Maren Uzarek
- Auditor
- LST REVISJON AS
- Accountant
- AKTIV ØKONOMI CONSULT AS
Source: Central Coordinating Register, fetched 29 October 2026. Only names are shown.
- Parent company
- Parent not reported
Source: GLEIF (Global Legal Entity Identifier Foundation), fetched 29 October 2026. The parent is the one the company itself reported to GLEIF.
Owners and shareholdings will appear here once the shareholder data extract is in place.
Coming · not built yet
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 29 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 56 | 60 | 63 | |
| Rank | 13,894 | 11,088 | 9,280 | |
| Operating margin | 0.3% | 2.4% | 6.9% | |
| Return on assets | 3.7% | 6.2% | 16.4% | |
| Equity ratio | 55.2% | 47.0% | 33.0% | |
| Current ratio | 3.98 | 5.05 | 2.28 | |
| Revenue growth | – | 50.3% | 36.8% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (USD). Revenue in NOK is converted from USD at the mean rate for the accounting period 1 January 2025–31 December 2025: 10.3912 (norges_bank). Balance-sheet amounts use the rate on the balance-sheet date. Ratios and growth are computed in USD. Exchange rates at Norges Bank
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 12.2 MUSD | 18.4 MUSD | 25.1 MUSD |
| Operating profit | 0.0 MUSD | 0.4 MUSD | 1.7 MUSD |
| Profit before tax | −0.2 MUSD | 0.3 MUSD | 1.6 MUSD |
| Net profit | −0.1 MUSD | 0.2 MUSD | 1.3 MUSD |
| Financial expenses | 0.4 MUSD | 0.2 MUSD | 0.2 MUSD |
| Total assets | 6.5 MUSD | 8.2 MUSD | 11.0 MUSD |
| Current assets | 5.7 MUSD | 6.1 MUSD | 9.2 MUSD |
| Equity | 3.6 MUSD | 3.9 MUSD | 3.6 MUSD |
| Retained earnings | 1.8 MUSD | 2.0 MUSD | 1.8 MUSD |
| Total liabilities | 2.9 MUSD | 4.3 MUSD | 7.4 MUSD |
| Current liabilities | 1.4 MUSD | 1.2 MUSD | 4.1 MUSD |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 29 October 2026, accounts id 7149399.
Further
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