Nor-Sub AS
Score · fiscal year 2025
41of 100
How to read this: the company is ahead of 29 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 3,994 of 5,647 · What are Morning company classes?
Place in the whole sector: 5,100 of 7,174 · Eiendom
Profile
Cheetah · Sprinter
High profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 58 and solidity 0 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
Nor-Sub AS is 8 points below the median for companies in the Morning class Micro in the same sector in 2025.
Median score 49 among 5,646 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin 3.7% (median 48.2%) and equity ratio −1,403,000.0% (median 27.0%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 5 MNOK | 2 MNOK |
| Operating margin | 3.7% | 48.2% |
| Profit margin | −13.6% | 23.7% |
| Return on assets | 351,825.0% | 7.8% |
| Equity ratio | −1,403,000.0% | 27.0% |
| Debt-to-equity | – | 2.20 |
| Current ratio | – | 1.41 |
| Revenue growth | 6,649.8% | 3.0% |
The median and “ahead of” refer to companies in the Morning class Micro in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 41, Nor-Sub AS does better than 29% of companies in the Morning class Micro in the same sector (5,647 companies) in 2025.
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.
Nor-Sub AS has a score of 41 for 2025, rank 5,100 of 7,174 in the sector.
Strongest: Growth: percentile 100 against peers, revenue growth 6,649.8% against a median of 3.0%.
Weakest: Solidity: percentile 0 against peers, equity ratio −1,403,000.0% against a median of 27.0%. Consistency: percentile 18 against peers.
Worth a closer look
- Equity is negative. How will it be rebuilt, and what do lenders and the auditor say about going concern? Based on: equity ratio −1,403,000.0% (median 27.0%).
- The company made a loss before tax. Are these one-off items or a pattern? Based on: profit margin −13.6% (median 23.7%).
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin 3.7% (median 48.2%).
- What lies behind weak solidity, 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
Nor-Sub AS had an operating margin of 3.7% and an equity ratio of −1,403,000.0% in 2025, and ranks 5,100 of 7,174 in Eiendom.
From 2024 to 2025: the equity ratio fell from −0.9% to −1,403,000.0% and revenue grew by 6,650%.
This text is generated automatically from the 2025 accounts.
Three simple methods
One method gives a figure: 1 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | not meaningful |
| EV/EBIT | 8.0 | 1 MNOK |
| P/B | 1.0 | not meaningful |
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
- critical
Equity is negative. How will it be rebuilt, and what do lenders and the auditor say about going concern?
Based on: Equity ratio −1,403,000.0% (median 27.0%).
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −13.6% (median 23.7%).
- 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 3.7% (median 48.2%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 118.2% 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.
See interest rates, prices and exchange rates for the sector
Data quality
- critical Negative equity
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 31.0%. 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 | 58 | weight 30% |
|---|---|---|
| Solidity | 0 | weight 25% |
| Liquidity | – | no data, left out |
| Growth | 100 | weight 15% |
| Consistency | 18 | weight 15% |
Index version 2. Data completeness 85%: the share of the weights that had data.
Questions and answers
How profitable is Nor-Sub AS?
The operating margin was 3.7% in 2025, against a median of 48.2% among companies in the Morning class Micro in the same sector. Return on assets was 351,825.0%. The company made a loss before tax.
How solid is Nor-Sub AS?
The equity ratio was −1,403,000.0% in 2025 (median 27.0%). Equity is negative, so liabilities exceed assets.
How does Nor-Sub AS compare in Eiendom?
Nor-Sub AS ranks 5,100 of 7,174 in Eiendom for 2025. Among companies in the Morning class Micro it is number 3,994 of 5,647. Revenue changed by 6,649.8% from the year before.
From the Central Coordinating Register
- Org. no.
- 911739119
- Legal form
- AS
- Sector
- Eiendom (68.200)
- Morning company class
- Micro
- Employees
- 0–4 (not registered)
- Founded
- 17 January 2013 13 years in operation
- Share capital
- 0.03 MNOK
- Business address
- Wernersholmvegen 49, 5232 PARADIS (BERGEN)
- Municipality
- Bergen rank 8 of 11 in KOSTRA group 12
- Audit
- Audit opted out from 10 April 2013
- 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 2 November 2026. Only names are shown.
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 30 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | – | – | 41 | |
| Rank | – | – | 5,100 | |
| Operating margin | 27.5% | 1.5% | 3.7% | |
| Return on assets | 0.4% | 0.0% | 351,825.0% | |
| Equity ratio | −1.0% | −0.9% | −1,403,000.0% | |
| Current ratio | 148.82 | 158.54 | – | |
| Revenue growth | – | −9.9% | 6,649.8% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 0.1 MNOK | 0.1 MNOK | 4.6 MNOK |
| Operating profit | 0.0 MNOK | 0.0 MNOK | 0.2 MNOK |
| Profit before tax | 0.0 MNOK | 0.0 MNOK | −0.6 MNOK |
| Net profit | 0.0 MNOK | 0.0 MNOK | −0.6 MNOK |
| Financial expenses | 0.0 MNOK | 0.0 MNOK | 0.8 MNOK |
| Total assets | 4.8 MNOK | 5.1 MNOK | 0.0 MNOK |
| Current assets | 4.8 MNOK | 5.0 MNOK | 0.0 MNOK |
| Equity | 0.0 MNOK | 0.0 MNOK | −0.7 MNOK |
| Retained earnings | −0.1 MNOK | −0.1 MNOK | −0.7 MNOK |
| Total liabilities | 4.9 MNOK | 5.1 MNOK | 0.7 MNOK |
| Current liabilities | 0.0 MNOK | 0.0 MNOK | 0.0 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 30 October 2026, accounts id 6575255.
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