Revisjon, regnskap og rådgivning
FollowDownload sector report (PDF)1,548 companies ranked against comparable companies in four Morning company classes. Fiscal year 2025. Source: Brønnøysund Register Centre. Methodology
Ranking · 2025 · Morning class Large
| # | Company | Score | Change |
|---|---|---|---|
| 1 | BDO AS | 86 | +40 |
| 2 | Wikborg Rein Advokatfirma AS | 83 | −3 |
| 3 | Advokatfirmaet Wiersholm AS | 77 | +20 |
| 4 | Advokatfirmaet Simonsen Vogt Wiig AS | 58 | −2 |
| 5 | Sparebank 1 Regnskapshuset Smn AS | 57 | +7 |
| 6 | Advokatfirmaet Schjødt AS | 55 | −4 |
| 7 | Advokatfirmaet Bahr AS | 55 | −2 |
| 8 | Ecit Forretningspartner AS | 54 | −8 |
| 9 | Advokatfirmaet Haavind AS | 54 | −2 |
| 10 | Sands Advokatfirma AS | 53 | – |
| 11 | Advokatfirmaet Thommessen AS | 53 | −5 |
| 12 | Advokatfirmaet Selmer AS | 51 | +5 |
| 13 | View Group AS | 47 | +13 |
| 14 | Aider AS | 42 | −8 |
| 15 | KPMG AS | 42 | −4 |
| 16 | Pricewaterhousecoopers AS | 41 | −7 |
| 17 | Advokatfirmaet Arntzen AS | 41 | −9 |
| 18 | Deloitte Advokatfirma AS | 39 | −21 |
| 19 | Cms Kluge Advokatfirma AS | 38 | −10 |
| 20 | Deloitte AS | 34 | −10 |
| 21 | ERNST & Young Advokatfirma AS | 30 | +8 |
| 22 | ERNST & Young AS | 29 | 0 |
| 23 | Azets Insight AS | 28 | −14 |
The rank is the rank in the class. A class with fewer than ten companies is compared with the whole sector. Full ranking · Press mode
Biggest moves · Morning class Large
- BDO AS+40
From 2024 to 2025: the operating margin rose from 10.4% to 43.2% and the equity ratio rose from 30.8% to 64.4%.
- Deloitte Advokatfirma AS−21
From 2024 to 2025: the operating margin fell from 19.0% to 11.5%.
- Advokatfirmaet Wiersholm AS+20
From 2024 to 2025: the equity ratio rose from 15.8% to 57.5% and the operating margin rose from 40.3% to 43.3%.
- Azets Insight AS−14
From 2024 to 2025: the operating margin fell from 13.4% to 10.7%.
Revisjon, regnskap og rådgivning, Morning class Large: 23 ranked companies in fiscal year 2025.
Best in the sector: BDO AS (score 86, operating margin 43.2%, equity ratio 64.4%). Wikborg Rein Advokatfirma AS (score 83, operating margin 52.1%, equity ratio 74.1%). Advokatfirmaet Wiersholm AS (score 77, operating margin 43.3%, equity ratio 57.5%).
Weakest in the sector: Azets Insight AS (score 28, operating margin 10.7%, equity ratio 9.5%). ERNST & Young AS (score 29, operating margin 2.3%, equity ratio 8.7%). ERNST & Young Advokatfirma AS (score 30, operating margin −0.4%, equity ratio 0.8%).
Worth a closer look
- The median operating margin rose from 20.1% in 2024 to 28.6% in 2025 (8.5 percentage points).
- The median equity ratio rose from 11.9% in 2024 to 14.9% in 2025 (3.0 percentage points).
- The median revenue growth fell from 12.1% in 2024 to 6.9% in 2025 (5.2 percentage points).
- The share with a loss went from 0% in 2024 to 4% in 2025.
Written by fixed rules from the figures. Describes the figures, does not explain causes. Not investment or financial advice. How the summary is made
Top lists in the sector · 2025 · Morning class Large
The five largest companies account for 53% of the sector's revenue. Combined profit before tax for the 23 ranked companies: 8,258 MNOK.
Highest revenue
- BDO AS 5,158 MNOK
- Pricewaterhousecoopers AS 4,236 MNOK
- ERNST & Young AS 4,139 MNOK
- Deloitte AS 3,374 MNOK
- KPMG AS 3,204 MNOK
Operating revenue.
Highest operating margin
- Advokatfirmaet Schjødt AS 58.8%
- Wikborg Rein Advokatfirma AS 52.1%
- Advokatfirmaet Thommessen AS 51.2%
- Advokatfirmaet Arntzen AS 48.2%
- Advokatfirmaet Selmer AS 44.6%
Operating result divided by operating revenue.
Largest profit
- BDO AS 2,237 MNOK
- Pricewaterhousecoopers AS 1,035 MNOK
- Advokatfirmaet Thommessen AS 979 MNOK
- Wikborg Rein Advokatfirma AS 910 MNOK
- Advokatfirmaet Wiersholm AS 594 MNOK
Profit before tax.
Largest loss
- View Group AS −108 MNOK
Profit before tax, the largest negative.
Most solid
- Wikborg Rein Advokatfirma AS 74.1%
- BDO AS 64.4%
- Sparebank 1 Regnskapshuset Smn AS 61.2%
- Advokatfirmaet Wiersholm AS 57.5%
- Advokatfirmaet Simonsen Vogt Wiig AS 56.1%
Equity ratio: equity divided by total assets.
Fastest growth
- BDO AS +55.8%
- View Group AS +49.0%
- Aider AS +40.1%
- Advokatfirmaet Schjødt AS +28.7%
- Ecit Forretningspartner AS +18.9%
Revenue growth from the year before, only from at least NOK 10 million in revenue.
Largest revenue decline
- Deloitte Advokatfirma AS −0.9%
- Pricewaterhousecoopers AS −0.6%
- Azets Insight AS −0.2%
Revenue decline from the year before, only from at least NOK 10 million in revenue.
Biggest climbers
- BDO AS +39.8 points
- Advokatfirmaet Wiersholm AS +19.7 points
- ERNST & Young Advokatfirma AS +7.8 points
- Sparebank 1 Regnskapshuset Smn AS +6.6 points
- Advokatfirmaet Selmer AS +4.8 points
Change in index points from the year before.
Biggest fallers
- Deloitte Advokatfirma AS −21.6 points
- Azets Insight AS −14.3 points
- Deloitte AS −10.2 points
- Cms Kluge Advokatfirma AS −10.0 points
- Advokatfirmaet Arntzen AS −9.1 points
Change in index points from the year before.
Most employees
- Pricewaterhousecoopers AS 1,898
- ERNST & Young AS 1,589
- KPMG AS 1,453
- Aider AS 1,342
- BDO AS 1,286
Employees according to the Central Coordinating Register.
Highest revenue per employee
- ERNST & Young Advokatfirma AS 6.0 MNOK
- Wikborg Rein Advokatfirma AS 5.9 MNOK
- Advokatfirmaet Bahr AS 5.4 MNOK
- Advokatfirmaet Thommessen AS 5.1 MNOK
- Sands Advokatfirma AS 4.9 MNOK
Only companies with at least 5 employees.
The lists cover ranked companies in the class: operating companies with at least NOK 1m in revenue, without holding companies and excluded ones. Size lists (revenue, profit, employees) count each group once. Source: Brønnøysund Register Centre. Amounts in other currencies are converted at Norges Bank's rates.
Positions in the sector · 2025 · Morning class Large
Each company is placed by profitability and solidity, measured as a place from 0 to 100 against the others in the same sector and Morning company class. The bubble shows revenue. Hover over or tap a bubble for the figures, filter by profile or search for a company.
Bubble size shows relative revenue, not exact figures. Dashed lines show where the 5 companies that moved most stood in 2024 (small ring).
- BDO AS profitability 29 → 86, solidity 84 → 95
- Advokatfirmaet Wiersholm AS profitability 76 → 68, solidity 63 → 86
- Deloitte Advokatfirma AS profitability 50 → 32, solidity 58 → 55
- Pricewaterhousecoopers AS profitability 42 → 45, solidity 79 → 64
- KPMG AS profitability 26 → 39, solidity 68 → 59
Lion · LeaderHigh profitability, high solidity
Cheetah · SprinterHigh profitability, lower solidity
Elephant · StewardLower profitability, high solidity
Beaver · BuilderLower profitability, lower solidity
Show the positions as a list
| Company | Profile | Profitability | Solidity |
|---|---|---|---|
| Advokatfirmaet Thommessen AS | Cheetah | 89 | 32 |
| Advokatfirmaet Arntzen AS | Cheetah | 89 | 0 |
| BDO AS | Lion | 86 | 95 |
| Wikborg Rein Advokatfirma AS | Lion | 82 | 100 |
| Advokatfirmaet Schjødt AS | Cheetah | 82 | 18 |
| Advokatfirmaet Selmer AS | Cheetah | 80 | 5 |
| Cms Kluge Advokatfirma AS | Cheetah | 75 | 14 |
| Sands Advokatfirma AS | Lion | 70 | 50 |
| Advokatfirmaet Wiersholm AS | Lion | 68 | 86 |
| Advokatfirmaet Haavind AS | Cheetah | 68 | 45 |
| Advokatfirmaet Bahr AS | Cheetah | 59 | 41 |
| Advokatfirmaet Simonsen Vogt Wiig AS | Lion | 52 | 82 |
| Pricewaterhousecoopers AS | Elephant | 45 | 64 |
| KPMG AS | Elephant | 39 | 59 |
| Azets Insight AS | Beaver | 34 | 27 |
| Deloitte Advokatfirma AS | Elephant | 32 | 55 |
| Sparebank 1 Regnskapshuset Smn AS | Elephant | 27 | 91 |
| Deloitte AS | Beaver | 25 | 36 |
| Ecit Forretningspartner AS | Elephant | 16 | 77 |
| ERNST & Young Advokatfirma AS | Beaver | 11 | 9 |
| ERNST & Young AS | Beaver | 11 | 23 |
| Aider AS | Elephant | 7 | 68 |
| View Group AS | Elephant | 2 | 73 |
Summary · fiscal year 2025 · Morning class Large
The sector's median operating margin is 28.6%. 0 of 23 companies have negative equity. The median equity ratio is 14.9%.
All figures are for fiscal year 2025. Ranked: 23 operating companies. Holding companies, excluded companies and companies without enough data are shown but not ranked. How to read the index
Climbers and fallers · Morning class Large
Change in rank from 2024 to 2025, for 19 companies ranked in both years.
Climbers
- 12BDO ASfrom rank 13 to 186
- 3Sparebank 1 Regnskapshuset Smn ASfrom rank 8 to 557
- 2Advokatfirmaet Wiersholm ASfrom rank 5 to 377
- 2Advokatfirmaet Selmer ASfrom rank 14 to 1251
Fallers
- 16Deloitte Advokatfirma ASfrom rank 2 to 1839
- 8Advokatfirmaet Arntzen ASfrom rank 9 to 1741
- 7Advokatfirmaet Thommessen ASfrom rank 4 to 1153
- 7Cms Kluge Advokatfirma ASfrom rank 12 to 1938
- 5Pricewaterhousecoopers ASfrom rank 11 to 1641
Awards · 2025 · Morning class Large
Needs attention · 2025 · Morning class Large
9 companies show at least one warning sign. Showing the 9 most important.
- watchAdvokatfirmaet Arntzen ASVery low equity ratio (0.1%) · Current ratio below 1 (0.97)
- watchERNST & Young ASVery low equity ratio (8.7%)
- watchAider ASCurrent ratio below 1 (0.79)
- watchAzets Insight ASVery low equity ratio (9.5%)
- watchERNST & Young Advokatfirma ASVery low equity ratio (0.8%)
- watchAdvokatfirmaet Selmer ASVery low equity ratio (0.4%)
- watchCms Kluge Advokatfirma ASVery low equity ratio (1.4%)
- watchView Group ASLoss before tax
- watchAdvokatfirmaet Schjødt ASVery low equity ratio (8.3%)
Sector map · 2025 · Morning class Large
Profitability against solidity for the ranked companies. Size shows revenue. Coral triangle: negative equity. Click to open the company. Outliers are placed on the edge.
Show the map's figures as a table
| Company | Operating margin | Equity ratio | Revenue |
|---|---|---|---|
| BDO AS | 43.2% | 64.4% | 5,158 MNOK |
| Wikborg Rein Advokatfirma AS | 52.1% | 74.1% | 1,729 MNOK |
| Advokatfirmaet Wiersholm AS | 43.3% | 57.5% | 1,384 MNOK |
| Advokatfirmaet Simonsen Vogt Wiig AS | 28.6% | 56.1% | 571 MNOK |
| Sparebank 1 Regnskapshuset Smn AS | 12.6% | 61.2% | 846 MNOK |
| Advokatfirmaet Schjødt AS | 58.8% | 8.3% | 536 MNOK |
| Advokatfirmaet Bahr AS | 42.8% | 12.0% | 1,568 MNOK |
| Ecit Forretningspartner AS | 6.3% | 55.4% | 549 MNOK |
| Advokatfirmaet Haavind AS | 41.8% | 12.8% | 784 MNOK |
| Sands Advokatfirma AS | 39.6% | 14.9% | 749 MNOK |
| Advokatfirmaet Thommessen AS | 51.2% | 10.3% | 1,903 MNOK |
| Advokatfirmaet Selmer AS | 44.6% | 0.4% | 706 MNOK |
| View Group AS | −0.2% | 25.6% | 612 MNOK |
| Aider AS | 1.3% | 22.1% | 1,608 MNOK |
| KPMG AS | 13.9% | 18.8% | 3,204 MNOK |
| Pricewaterhousecoopers AS | 24.3% | 19.0% | 4,236 MNOK |
| Advokatfirmaet Arntzen AS | 48.2% | 0.1% | 642 MNOK |
| Deloitte Advokatfirma AS | 11.5% | 15.1% | 733 MNOK |
| Cms Kluge Advokatfirma AS | 38.9% | 1.4% | 700 MNOK |
| Deloitte AS | 6.4% | 11.2% | 3,374 MNOK |
| ERNST & Young Advokatfirma AS | −0.4% | 0.8% | 801 MNOK |
| ERNST & Young AS | 2.3% | 8.7% | 4,139 MNOK |
| Azets Insight AS | 10.7% | 9.5% | 1,567 MNOK |
Holding and investment companies · 2025
414 companies in the sector are holding or investment companies. They are kept out of the ranking above, since revenue, margins and growth say little about a company that lives from ownership. They are ranked on their own here: 127 have at least 10 MNOK in assets and are listed.
| Rank | Company | Score | Equity ratio | Return on assets | Current ratio | Total assets |
|---|---|---|---|---|---|---|
| 1 | Bas Holding AS | 95 | 99.7% | 117.6% | 292.79 | 183 MNOK |
| 2 | Growthiogen Invest AS | 94 | 100.0% | 51.7% | 10,449.56 | 41 MNOK |
| 3 | Kolstoe Invest AS | 93 | – | 99.0% | 144.59 | 163 MNOK |
| 4 | Indigo Holding AS | 89 | 99.7% | 55.8% | 234.16 | 85 MNOK |
| 5 | Torgers Holding AS | 88 | 99.7% | 44.5% | 361.01 | 12 MNOK |
| 6 | Rubio Holding AS | 88 | 99.7% | 54.9% | 309.76 | 16 MNOK |
| 7 | Vikingene Invest AS | 87 | 99.5% | 93.1% | 123.46 | 701 MNOK |
| 8 | Trost Invest AS | 86 | 100.0% | 22.9% | 3,496.83 | 11 MNOK |
| 9 | O.S Invest AS | 83 | 99.7% | 42.7% | 115.70 | 13 MNOK |
| 10 | Nietzold Invest AS | 83 | 98.9% | 113.6% | 60.21 | 61 MNOK |
| 11 | K. Hole Investments AS | 82 | 98.9% | 109.3% | 57.70 | 45 MNOK |
| 12 | Hwe Invest AS | 82 | 99.6% | 41.6% | 89.13 | 14 MNOK |
| 13 | Tandersen Holding AS | 81 | 99.1% | 79.0% | 87.55 | 26 MNOK |
| 14 | Vidvei Holding AS | 81 | 99.8% | 25.0% | 88.09 | 17 MNOK |
| 15 | Niss Invest AS | 81 | 99.8% | 19.5% | 390.72 | 16 MNOK |
| 16 | Terje Stenløkk Holding AS | 80 | 99.3% | 49.8% | 106.80 | 27 MNOK |
| 17 | Victorem Invest AS | 79 | 99.7% | 22.0% | 246.38 | 17 MNOK |
| 18 | Cbh Holding AS | 78 | 99.8% | 17.3% | 278.23 | 13 MNOK |
| 19 | K Thunes Invest AS | 77 | 99.5% | 22.1% | 168.21 | 17 MNOK |
| 20 | Sandar Holding AS | 76 | 98.7% | 47.7% | 67.81 | 12 MNOK |
Show all 100
Score 0–100 against the other holding companies in the sector: equity ratio 40 %, return on assets 40 % and current ratio 20 %. Methodology
Scenario analysis: the sector's weakest year
The sector's weakest year was 2026, with a median operating margin of 5.4%.
Based on the 7 fiscal years we have. The analysis grows as more years are fetched or imported.
| Fiscal year | Median operating margin | Median equity ratio |
|---|---|---|
| 2020 | – | – |
| 2021 | 21.8% | 31.4% |
| 2022 | 7.4% | 34.5% |
| 2023 | 10.4% | 41.4% |
| 2024 | 10.3% | 40.8% |
| 2025 | 10.0% | 39.4% |
| 2026 · weakest year | 5.4% | 46.6% |
In 2026, 1 ranked companies did better than the sector, 0 about the same and 0 weaker.
Held up best in 2026
- 1Analysys Mason ASequity ratio 46.6%5.4%
Better than the sector: operating margin at or above the sector median and no loss or negative equity. Weaker: operating margin below the median and a loss or negative equity. Otherwise about the same as the sector. Methodology
Drivers in the sector
Interest rates, prices and exchange rates that shape the sector's year, next to the sector's median operating margin. The drivers are context and are not part of the index.
Consumer price index (indeks (2025 = 100))
Consumer price index rose 3.0% in 2025; the sector's median operating margin fell 0.3 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% |
| Sector's median operating margin | 21.8% | 7.4% | 10.4% | 10.3% | 10.0% | 5.4% |
Source: SSB (14710, CC BY 4.0). Source · fetched 2 November 2026
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the sector's median operating margin fell 0.3 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 |
| Sector's median operating margin | 21.8% | 7.4% | 10.4% | 10.3% | 10.0% | 5.4% |
Source: Norges Bank (IR, NLOD 2.0). Source · fetched 2 November 2026
When policy rate fell in 2025, 758 of 1,497 ranked companies kept their operating margin at or above the year before. Among the largest: BDO AS (10.4% → 43.2%), Pricewaterhousecoopers AS (21.1% → 24.3%), ERNST & Young AS (1.8% → 2.3%), KPMG AS (13.4% → 13.9%), Wikborg Rein Advokatfirma AS (50.0% → 52.1%).
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.
The sector in Norway (SSB)
The whole industry as Statistics Norway counts it: every enterprise, not only the limited companies we rank. Use these figures as background for the ranking above.
Enterprises, employment and turnover · 2024
- Enterprises
- 27,548
- +3.5% from 2023
- Persons employed
- 76,475
- +3.2% from 2023
- Turnover
- NOK 174.3 bn
- +6.4% from 2023
- Gross operating margin
- 4.9%
- Gross operating surplus divided by turnover
All enterprises, sole proprietorships included.
Bankruptcies in the industry
102 enterprise bankruptcies in the last four quarters (2025K4–2026K3). Change −2.9% against the four quarters before (105). That is about 3.7 per 1,000 enterprises.
Foreign-controlled enterprises · 2024
- Share of enterprises
- 2.6%
- Share of persons employed
- 19.6%
- Share of turnover
- 25.9%
SSB publishes this for groups of industries only. The figures are for the group “Faglig, vitenskapelig og teknisk tjenesteyting”.
Turnover index · Juridisk og regnskapsmessig tjenesteyting
155.7 index, 2021 = 100, seasonally adjusted · 2026M08
+13.2% against 2025M08.
Monthly, 2023M08 to 2026M08.
Source: Statistics Norway (SSB), table 12910, table 10790, table 08085, table 13863. CC BY 4.0. Our industry codes (SN2025) are linked to SSB’s (SN2007) with SSB’s correspondence table in Klass.
Latest bankruptcies and liquidations
- AN Consult AS 933274861 Voluntary liquidation · 31 October 2026 · 1 MNOK (2025)
- Beechwood Consulting AS 920463096 Voluntary liquidation · 31 October 2026 · 0 MNOK (2025)
- Bluecorp AS 918908242 Voluntary liquidation · 31 October 2026 · 6 MNOK (2024)
- Clear Insight AS 937950268 Voluntary liquidation · 31 October 2026
- Ctph Holding AS 998839394 Voluntary liquidation · 31 October 2026 · 0 MNOK (2025)
- Emmy Fortitude AS 919049340 Voluntary liquidation · 31 October 2026 · 0 MNOK (2025)
- Emptor Holding AS 912468518 Voluntary liquidation · 31 October 2026
- Fgh Audit AS 818712642 Voluntary liquidation · 31 October 2026 · 2 MNOK (2025)
Industry codes (NACE)
| Code | Description |
|---|---|
| 69* | Hele hovedgruppe 69 |
| 69.100 | Juridisk tjenesteyting |
| 69.201 | Revisjon |
| 69.202 | Regnskapsføring og bokføring |
| 69.203 | Skatterådgivning |
| 70* | Hele hovedgruppe 70 |
| 70.200 | Bedriftsrådgivning og annen administrativ rådgivning |