PIXELS & Bytes AS
Score · fiscal year 2025
40of 100
How to read this: the company is ahead of 32 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 850 of 1,246 · What are Morning company classes?
Place in the whole sector: 2,236 of 3,132 · Informasjon og kommunikasjon
Profile
Beaver · Builder
Lower profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 41 and solidity 33 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
PIXELS & Bytes AS is 9 points below the median for companies in the Morning class Micro in the same sector in 2025.
Median score 49 among 1,244 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin 2.6% (median 4.2%) and equity ratio 25.3% (median 38.2%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 4 MNOK | 3 MNOK |
| Operating margin | 2.6% | 4.2% |
| Profit margin | 2.3% | 4.0% |
| Return on assets | 1.9% | 9.4% |
| Equity ratio | 25.3% | 38.2% |
| Debt-to-equity | 2.96 | 1.04 |
| Current ratio | 0.40 | 1.51 |
| Revenue growth | 30.1% | 6.1% |
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 40, PIXELS & Bytes AS does better than 32% of companies in the Morning class Micro in the same sector (1,246 companies) in 2025.
Score 2023–2025
- PIXELS & Bytes AS
- Median: companies in the Morning class Micro in the same sector
PIXELS & Bytes AS has a score of 40 for 2025, rank 2,236 of 3,132 in the sector.
Strongest: Growth: percentile 73 against peers, revenue growth 30.1% against a median of 6.1%.
Weakest: Liquidity: percentile 9 against peers, current ratio 0.40 against a median of 1.51. Solidity: percentile 33 against peers, equity ratio 25.3% against a median of 38.2%.
Worth a closer look
- Consider strengthening liquidity: current liabilities are 2.5 times current assets. Based on: current ratio 0.40 (median 1.51).
- Strong growth with weak liquidity. Is the growth financed, or does it tie up capital the company does not have? Based on: revenue growth 30.1% (median 6.1%); current ratio 0.40 (median 1.51).
- What lies behind weak solidity, and will it last?
- The change in operating margin in 2025 was 6.2 percentage points weaker than for comparable companies: the company −5.9, the industry +0.4 points. That is the company's own, not something that hit the whole industry.
Written by fixed rules from the figures. Describes the figures, does not explain causes. Not investment or financial advice. How the summary is made
The industry or the company: what drove the result?
In 2025 the operating margin of PIXELS & Bytes AS fell by 5.9 percentage points. Comparable companies rose by a median 0.4 points. So the company did 6.2 points weaker than the industry, for reasons of its own.
Over 2 year-to-year changes PIXELS & Bytes AS moved the same way as comparable companies 0 times. About 0% 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 | 8.5% | 3.8% | +92.2 percentage points | 0.0 percentage points | +92.2 percentage points |
| 2025 | 2.6% | 4.2% | −5.9 percentage points | +0.4 percentage points | −6.2 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 PIXELS & Bytes AS. The figures stand side by side; we claim no cause.
Service prices: information and communication (indeks (2021 = 100))
Service prices: information and communication rose 4.0% in 2025; the operating margin of PIXELS & Bytes AS fell 5.9 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Service prices: information and communication, annual average | 100.0 | 103.3 | 108.7 | 112.2 | 116.7 | 120.0 (so far) |
| Change from the year before | – | +3.2% | +5.3% | +3.2% | +4.0% | +2.8% |
| The company's operating margin | – | – | −83.7% | 8.5% | 2.6% | – |
Source: SSB (14335, CC BY 4.0). Source
Turnover index: information and communication (indeks (2021 = 100))
Turnover index: information and communication rose 4.6% in 2025; the operating margin of PIXELS & Bytes AS fell 5.9 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Turnover index: information and communication, annual average | 99.6 | 111.4 | 126.4 | 128.3 | 134.2 | 141.3 (so far) |
| Change from the year before | +14.7% | +11.8% | +13.5% | +1.5% | +4.6% | +5.3% |
| The company's operating margin | – | – | −83.7% | 8.5% | 2.6% | – |
Source: SSB (13863, CC BY 4.0). Source
USD/NOK (kr)
USD/NOK fell 3.3% in 2025; the operating margin of PIXELS & Bytes AS fell 5.9 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| USD/NOK, annual average | 8.59 | 9.61 | 10.56 | 10.75 | 10.39 | 9.54 (so far) |
| Change from the year before | −8.8% | +11.9% | +9.9% | +1.7% | −3.3% | −8.2% |
| The company's operating margin | – | – | −83.7% | 8.5% | 2.6% | – |
Source: Norges Bank (EXR, NLOD 2.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of PIXELS & Bytes AS fell 5.9 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 | – | – | −83.7% | 8.5% | 2.6% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
Consumer price index (indeks (2025 = 100))
Consumer price index rose 3.0% in 2025; the operating margin of PIXELS & Bytes AS fell 5.9 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% |
| The company's operating margin | – | – | −83.7% | 8.5% | 2.6% | – |
Source: SSB (14710, CC BY 4.0). Source
Wage index: IT services (indeks)
Wage index: IT services rose 4.4% in 2025; the operating margin of PIXELS & Bytes AS fell 5.9 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: IT services, annual average | 84.9 | 87.8 | 92.3 | 97.3 | 101.5 | 105.4 (so far) |
| Change from the year before | +4.9% | +3.5% | +5.1% | +5.4% | +4.4% | +3.8% |
| The company's operating margin | – | – | −83.7% | 8.5% | 2.6% | – |
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
PIXELS & Bytes AS had an operating margin of 2.6% and an equity ratio of 25.3% in 2025, and ranks 2,236 of 3,132 in Informasjon og kommunikasjon.
From 2024 to 2025: revenue grew by 30% and the operating margin fell from 8.5% to 2.6%.
This text is generated automatically from the 2025 accounts.
Three simple methods
One method gives a figure: 2 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 17.7 | not meaningful |
| EV/EBIT | 14.3 | not meaningful |
| P/B | 2.6 | 2 MNOK |
The listed basis is the value at listed multiples. The estimate is lowered by 51% for an unlisted company: 20% for lack of marketability and 38% for size (a small-company premium of 4% on the cost of equity).
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
Worth a closer look
- critical
Consider strengthening liquidity: current liabilities are 2.5 times current assets.
Based on: Current ratio 0.40 (median 1.51).
- watch
Strong growth with weak liquidity. Is the growth financed, or does it tie up capital the company does not have?
Based on: Revenue growth 30.1% (median 6.1%); Current ratio 0.40 (median 1.51).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 0.5% 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 2026, the sector's weakest year, for this company.
The sector's weakest year was 2026, with a median operating margin of 4.1%. Based on the 8 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 41 | weight 30% |
|---|---|---|
| Solidity | 33 | weight 25% |
| Liquidity | 9 | weight 15% |
| Growth | 73 | weight 15% |
| Consistency | 47 | weight 15% |
Durability: 34 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is PIXELS & Bytes AS?
The operating margin was 2.6% in 2025, against a median of 4.2% among companies in the Morning class Micro in the same sector. Return on assets was 1.9%.
How solid is PIXELS & Bytes AS?
The equity ratio was 25.3% in 2025 (median 38.2%). Debt-to-equity was 2.96 (median 1.04).
What is the liquidity of PIXELS & Bytes AS like?
The current ratio was 0.40 in 2025 (median 1.51). Current assets did not cover current liabilities.
How does PIXELS & Bytes AS compare in Informasjon og kommunikasjon?
PIXELS & Bytes AS ranks 2,236 of 3,132 in Informasjon og kommunikasjon for 2025. Among companies in the Morning class Micro it is number 850 of 1,246. Revenue changed by 30.1% from the year before.
From the Central Coordinating Register
- Org. no.
- 917814597
- Legal form
- AS
- Sector
- Informasjon og kommunikasjon (62.100)
- Morning company class
- Micro
- Employees
- 0–4 (not registered)
- Founded
- 10 October 2016 10 years in operation
- Share capital
- 0.03 MNOK
- Business address
- G. M. Brydes vei 6B, 1390 VOLLEN (ASKER)
- Municipality
- Asker rank 2 of 11 in KOSTRA group 12
- Audit
- Audit opted out from 9 January 2024
- 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 3 November 2026. Only names are shown.
Shareholders (2025)
- Number of shareholders
- 2
- Largest owner
- 50.0%
- Split
- companies 50% · private persons 50% · foreign 0%
- Owned from the same municipality
- 50%
- Pixel Zoo AS · 50.0%
- 1 private persons · 50.0%
The company is new in the shareholder register in 2025.
Holds shares in: Norwegian Blue AS (16%), Cast Group AS (37%), Gamepire Studio AS (0%)
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.
Figures last fetched 31 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 18 | 44 | 40 | |
| Rank | 2,715 | 1,979 | 2,236 | |
| Operating margin | −83.7% | 8.5% | 2.6% | |
| Return on assets | −19.0% | 8.0% | 1.9% | |
| Equity ratio | 9.3% | 15.9% | 25.3% | |
| Current ratio | 0.19 | 0.02 | 0.40 | |
| Revenue growth | – | 118.0% | 30.1% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 1.2 MNOK | 2.7 MNOK | 3.5 MNOK |
| Operating profit | −1.0 MNOK | 0.2 MNOK | 0.1 MNOK |
| Profit before tax | −0.5 MNOK | 0.0 MNOK | 0.1 MNOK |
| Tax expense | 0.0 MNOK | 0.0 MNOK | 0.0 MNOK |
| Net profit | −0.5 MNOK | 0.0 MNOK | 0.1 MNOK |
| Financial expenses | −0.6 MNOK | 0.6 MNOK | 0.0 MNOK |
| Total assets | 5.5 MNOK | 7.8 MNOK | 5.2 MNOK |
| Current assets | 0.4 MNOK | 0.1 MNOK | 0.7 MNOK |
| Equity | 0.5 MNOK | 1.2 MNOK | 1.3 MNOK |
| Retained earnings | 0.5 MNOK | 1.2 MNOK | 1.3 MNOK |
| Total liabilities | 5.0 MNOK | 6.6 MNOK | 3.9 MNOK |
| Current liabilities | 2.3 MNOK | 4.2 MNOK | 1.7 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 31 October 2026, accounts id 6828236.
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