Balticum Frinab AS
Score · fiscal year 2025
28of 100
How to read this: the company is ahead of 14 % of companies in the Morning class Small in the same sector in 2025. What does this mean?
Rank in the Morning class Small: 6,350 of 7,416 · What are Morning company classes?
Place in the whole sector: 19,417 of 22,940 · Handel
Profile
Beaver · Builder
Lower profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 13 and solidity 42 out of 100 among companies in the Morning class Small in the same sector in 2025. Methodology
Against the sector
Balticum Frinab AS is 23 points below the median for companies in the Morning class Small in the same sector in 2025.
Median score 51 among 7,416 companies.
Against companies in the Morning class Small in the same sector in 2025: operating margin −0.5% (median 3.4%) and equity ratio 31.1% (median 36.3%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 30 MNOK | 20 MNOK |
| Operating margin | −0.5% | 3.4% |
| Profit margin | −3.2% | 3.0% |
| Return on assets | −14.3% | 10.0% |
| Equity ratio | 31.1% | 36.3% |
| Debt-to-equity | 2.22 | 1.51 |
| Current ratio | 1.47 | 1.73 |
| Revenue growth | −11.5% | 5.7% |
The median and “ahead of” refer to companies in the Morning class Small in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 28, Balticum Frinab AS does better than 14% of companies in the Morning class Small in the same sector (7,416 companies) in 2025.
Score 2023–2025
- Balticum Frinab AS
- Median: companies in the Morning class Small in the same sector
Balticum Frinab AS has a score of 28 for 2025, rank 19,417 of 22,940 in the sector.
Strongest: Solidity: percentile 42 against peers, equity ratio 31.1% against a median of 36.3%.
Weakest: Growth: percentile 12 against peers, revenue growth −11.5% against a median of 5.7%. Profitability: percentile 13 against peers, operating margin −0.5% against a median of 3.4%.
Worth a closer look
- The company made a loss before tax. Are these one-off items or a pattern? Based on: profit margin −3.2% (median 3.0%).
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin −0.5% (median 3.4%).
- What lies behind weak growth, and will it last?
- What lies behind weak profitability, 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
Balticum Frinab AS had an operating margin of −0.5% and an equity ratio of 31.1% in 2025, and ranks 19,417 of 22,940 in Handel.
From 2024 to 2025: went from a profit to a loss before tax and the operating margin fell from 1.9% to −0.5%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 2 MNOK and 5 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 21.2 | not meaningful |
| EV/EBIT | 16.6 | 5 MNOK |
| P/B | 2.2 | 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
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −3.2% (median 3.0%).
- 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 −0.5% (median 3.4%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
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 2022, the sector's weakest year, for this company.
The sector's weakest year was 2022, with a median operating margin of 1.5%. 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 | 13 | weight 30% |
|---|---|---|
| Solidity | 42 | weight 25% |
| Liquidity | 40 | weight 15% |
| Growth | 12 | weight 15% |
| Consistency | 35 | weight 15% |
Durability: 40 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Balticum Frinab AS?
The operating margin was −0.5% in 2025, against a median of 3.4% among companies in the Morning class Small in the same sector. Return on assets was −14.3%. The company made a loss before tax.
How solid is Balticum Frinab AS?
The equity ratio was 31.1% in 2025 (median 36.3%). Debt-to-equity was 2.22 (median 1.51).
What is the liquidity of Balticum Frinab AS like?
The current ratio was 1.47 in 2025 (median 1.73).
How does Balticum Frinab AS compare in Handel?
Balticum Frinab AS ranks 19,417 of 22,940 in Handel for 2025. Among companies in the Morning class Small it is number 6,350 of 7,416. Revenue changed by −11.5% from the year before.
From the Central Coordinating Register
- Org. no.
- 937230311
- Legal form
- AS
- Sector
- Handel (46.900)
- Morning company class
- Small
- Employees
- 0–4 (not registered)
- Founded
- 25 June 1985 41 years in operation
- Share capital
- 0.80 MNOK
- Business address
- Osloveien 53, 1534 MOSS
- Municipality
- Moss rank 4–9 of 10 in KOSTRA group 11
- Latest accounts filed
- 2025
- Website
- www.balticum.no
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 29 October 2026. Only names are shown.
Shareholders (2025)
- Number of shareholders
- 2
- Largest owner
- 50.0%
- Split
- companies 0% · private persons 100% · foreign 50%
- Owned from the same municipality
- 100%
Change 2007–2025:
60% of the shares changed owner (1 new and 1 departed owners). The majority owner changed.
Departed (companies): Balticum AB
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 28 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 56 | 37 | 28 | |
| Rank | 8,473 | 16,232 | 19,417 | |
| Operating margin | 3.2% | 1.9% | −0.5% | |
| Return on assets | 13.7% | 6.8% | −14.3% | |
| Equity ratio | 43.6% | 33.8% | 31.1% | |
| Current ratio | 1.78 | 1.50 | 1.47 | |
| Revenue growth | – | −9.7% | −11.5% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 37.2 MNOK | 33.6 MNOK | 29.7 MNOK |
| Operating profit | 1.2 MNOK | 0.6 MNOK | −0.1 MNOK |
| Profit before tax | −0.4 MNOK | 0.2 MNOK | −0.9 MNOK |
| Tax expense | −0.1 MNOK | 0.0 MNOK | 0.0 MNOK |
| Net profit | −0.3 MNOK | 0.1 MNOK | −0.9 MNOK |
| Financial expenses | 1.6 MNOK | 0.5 MNOK | – |
| Total assets | 8.9 MNOK | 10.3 MNOK | 6.6 MNOK |
| Current assets | 7.7 MNOK | 9.4 MNOK | 5.6 MNOK |
| Equity | 3.9 MNOK | 3.5 MNOK | 2.0 MNOK |
| Retained earnings | 3.1 MNOK | 2.7 MNOK | 1.2 MNOK |
| Total liabilities | 5.0 MNOK | 6.8 MNOK | 4.5 MNOK |
| Current liabilities | 4.3 MNOK | 6.2 MNOK | 3.8 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 28 October 2026, accounts id 7076634.
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