Sector

Revisjon, regnskap og rådgivning

1,670 companies ranked against comparable companies in four Morning company classes. Fiscal year 2025. Source: Brønnøysund Register Centre. Methodology

Morning company class

Morning company classes are our own division by revenue, not an official standard: Micro NOK 1m–10 MNOK, Small 10 MNOK–50 MNOK, Medium 50 MNOK–500 MNOK, Large from 500 MNOK. Companies are ranked only against others in the same class, and every figure below is for the class you have chosen. What are Morning company classes?

Ranking · 2025 · Morning class Medium

Morning class Medium · 2025
#	Company	Profile	Score	Change
1	Advokatfirmaet Dla Piper Norway AS	Leader	86	–
2	Revisorkonsult AS	Leader	85	+35
3	Moore AS	Leader	85	+4
4	Advokatfirmaet Glittertind AS	Leader	84	−1
5	Bjerkan Stav Advokatfirma AS	Leader	84	+34
6	Brækhus Advokatfirma AS	Leader	84	−8
7	Revisjon Sør AS	Leader	83	+3
8	Uno Score AS	Leader	82	+64
9	AURLIEN VORDAHL & CO Advokatfirma AS	Leader	80	−6
10	Bhl AS	Leader	78	–
11	Advokatfirmaet Bull AS	Leader	77	−8
12	Elden Advokatfirma AS	Leader	76	+3
13	Advokatfirmaet Øverbø Gjørtz AS	Leader	75	−10
14	Advokatfirmaet Aider Legal AS	Leader	74	–
15	Sikkerhetsledelse AS	Leader	74	−1
16	Vaak Revisjon og Rådgivning AS	Leader	73	−12
17	Fullstakk Marketing AS	Leader	71	+22
18	Pbl Regnskap AS	Steward	69	−3
19	Advokatfirmaet Føyen AS	Leader	69	−19
20	Zacco Norway AS	Leader	67	−10
21	BDO Advokater AS	Leader	67	+13
22	Stiegler Advokatfirma AS	Steward	67	+6
23	Harris Advokatfirma AS	Leader	67	+2
24	Ræder Bing Advokatfirma AS	Steward	66	−19
25	Inventura AS	Leader	66	+1
26	Berg Økonomi AS	Leader	66	0
27	Ecit Norian AS	Leader	65	−3
28	Formue Accounting AS	Leader	65	+23
29	Mef Service AS	Leader	64	−2
30	Advokatfirmaet Rogstad AS	Leader	64	+8
31	Pretor Advokat AS	Leader	64	+3
32	Norgesgruppen Regnskap AS	Steward	64	+1
33	Odin Prosjekt AS	Steward	63	−20
34	Advokatfirmaet Berngaard AS	Leader	63	+11
35	Admento AS	Steward	62	+9
36	Bdt Viken AS	Steward	62	+13
37	Advisetech AS	Leader	61	−1
38	Summa Equity Advisory AS	Steward	61	0
39	Sparebank 1 Økonomipartner Nordmøre AS	Leader	60	+5
40	Sparebank 1 Regnskapshuset Valhall AS	Steward	60	−1
41	Eneas Services AS	Sprinter	60	+1
42	Rud Pedersen Public Affairs Company Norge AS	Sprinter	59	+5
43	Svalner Atlas Norway AS	Leader	59	−3
44	Forvis Mazars AS	Leader	59	0
45	Vivicta Accounting AS	Sprinter	57	+5
46	Advokatfirmaet Legalis AS	Steward	57	+2
47	Haver Advokatfirma AS	Sprinter	57	+2
48	Solhøi Revisjon AS	Sprinter	56	−10
49	Revicom AS	Sprinter	56	+13
50	Knif Regnskap AS	Sprinter	56	+7

Download as CSV (opens in Excel)

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 Medium

Addovation AS
From 2024 to 2025: the operating margin fell from 13.4% to 0.3% and the equity ratio fell from 53.1% to 28.1%.
−42
Revisorkonsult AS
From 2024 to 2025: the equity ratio rose from 0.9% to 54.4% and the operating margin fell from 41.2% to 35.7%.
+35
Bjerkan Stav Advokatfirma AS
From 2024 to 2025: the equity ratio rose from 1.3% to 53.1% and revenue grew by 15%.
+34
Analysys Mason AS
From 2024 to 2025: went from a profit to a loss before tax and the operating margin fell from 4.2% to −10.7%.
−23

Summary analysis

Revisjon, regnskap og rådgivning, Morning class Large: 24 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 78, operating margin 43.3%, equity ratio 57.5%).

Weakest in the sector: Fsn Capital Partners AS (score 26, operating margin 10.0%, equity ratio 2.3%). ERNST & Young Advokatfirma AS (score 30, operating margin −0.4%, equity ratio 0.8%). ERNST & Young AS (score 30, operating margin 2.3%, equity ratio 8.7%).

Worth a closer look

The median operating margin rose from 20.1% in 2024 to 26.4% in 2025 (6.4 percentage points).
The median equity ratio rose from 11.9% in 2024 to 13.9% in 2025 (2.0 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 Medium

The five largest companies account for 11% of the sector's revenue. Combined profit before tax for the 157 ranked companies: 2,241 MNOK.

Size

The largest by revenue and employees, and who earns the most per employee.

Highest revenue

Advokatfirmaet Pricewaterhousecoopers AS 488 MNOK
KPMG Law Advokatfirma AS 437 MNOK
BAIN & Company Norway AS 423 MNOK
Advokatfirmaet Dla Piper Norway AS 401 MNOK
Acapo Onsagers AS 395 MNOK

Operating revenue.

Most employees

Enora AS 972
Cedra Norge AS 508
Admento AS 313
Ecit Services AS 290
Sparebank 1 Regnskapshuset Nord-Norge AS 273

Employees according to the Central Coordinating Register.

Highest revenue per employee

Altera Infrastructure Services AS 20.4 MNOK
Athenas AS 14.7 MNOK
Value Group AS 10.6 MNOK
Azets AS 7.7 MNOK
BAIN & Company Norway AS 6.7 MNOK

Only companies with at least 5 employees.

Profit and balance

Who earns the most, who loses the most, and who has the strongest balance sheet.

Highest operating margin

Operating result divided by operating revenue.

Largest profit

Eneas Services AS 207 MNOK
Advokatfirmaet Dla Piper Norway AS 126 MNOK
Advokatfirmaet Hjort AS 108 MNOK
Uniconsult AS 89 MNOK
Advokatfirmaet Pricewaterhousecoopers AS 81 MNOK

Profit before tax.

Largest loss

Cedra Norge AS −55 MNOK
Rekom Norge AS −37 MNOK
Aspia Norge AS −34 MNOK
BAIN & Company Norway AS −29 MNOK
Azets Consulting AS −15 MNOK

Profit before tax, the largest negative.

Most solid

Ecit AS 91.0%
Zacco Norway AS 82.5%
Enora AS 76.8%
Advokatfirmaet Glittertind AS 72.3%
Cedra Norge AS 68.9%

Equity ratio: equity divided by total assets.

Growth and movement

Who grows and falls the most in revenue, and who has climbed or fallen the most on the index since the year before.

Fastest growth

Aspia Norge AS +378.9%
Value Group AS +324.7%
Uno Score AS +186.5%
KS-Digitale Fellestjenester AS +139.9%
Altera Infrastructure Services AS +93.4%

Revenue growth from the year before, only from at least NOK 10 million in revenue.

Largest revenue decline

Prokura AS −37.8%
Longship AS −28.5%
Analysys Mason AS −21.9%
Advokatfirmaet Berngaard AS −20.4%
Zacco Norway AS −16.3%

Revenue decline from the year before, only from at least NOK 10 million in revenue.

Biggest climbers

Revisorkonsult AS +35.3 points
Bjerkan Stav Advokatfirma AS +34.3 points
Formue Accounting AS +22.7 points
Vestlandets Innovasjonsselskap AS +17.0 points
Altera Infrastructure Services AS +16.7 points

Change in index points from the year before.

Biggest fallers

Addovation AS −41.2 points
Analysys Mason AS −22.3 points
Odin Prosjekt AS −19.5 points
Longship AS −18.9 points
Ræder Bing Advokatfirma AS −18.8 points

Change in index points from the year before.

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.

Quadrant analysis

Positions in the sector · 2025 · Morning class Medium

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).

Revisorkonsult AS profitability 95 → 95, solidity 5 → 87
Bjerkan Stav Advokatfirma AS profitability 91 → 93, solidity 8 → 84
Addovation AS profitability 61 → 13, solidity 87 → 51
PA Consulting Group AS profitability 22 → 7, solidity 48 → 96
Sparebank 1 Økonomipartner Nordmøre AS profitability 24 → 71, solidity 81 → 64

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	In 2024 (profitability / solidity)
Arepo Invest AS	Cheetah	100	2	–
Advokatfirmaet Glittertind AS	Lion	99	98	97 / 96
Uniconsult AS	Cheetah	96	29	97 / 29
Haver Advokatfirma AS	Cheetah	96	26	92 / 27
Econpartner AS	Cheetah	95	11	94 / 9
Revisorkonsult AS	Lion	95	87	95 / 5
Advokatfirmaet Hjort AS	Cheetah	94	28	91 / 29
Brækhus Advokatfirma AS	Lion	94	94	91 / 93
AURLIEN VORDAHL & CO Advokatfirma AS	Lion	93	81	–
Advokatfirmaet Øverbø Gjørtz AS	Lion	93	82	93 / 85
Uno Score AS	Lion	93	88	–
Bjerkan Stav Advokatfirma AS	Lion	93	84	91 / 8
Nitschke AS	Cheetah	93	17	96 / 15
Eneas Services AS	Cheetah	92	44	94 / 59
Advokatfirmaet Bratlien AS	Cheetah	92	9	–
Advokatfirmaet Dla Piper Norway AS	Lion	91	95	–
Advokatfirmaet Føyen AS	Lion	91	78	94 / 93
Moore AS	Lion	90	92	–
Altor Equity Partners AS	Cheetah	90	7	85 / 6
Advokatfirmaet Bull AS	Lion	89	95	90 / 95
Revisjon Sør AS	Lion	88	92	–
Kjell Haver Regnskapsservice AS	Cheetah	85	25	85 / 26
Revicom AS	Cheetah	84	34	54 / 20
Harris Advokatfirma AS	Lion	84	62	83 / 65
Vivicta Accounting AS	Cheetah	82	50	80 / 57
Relevant Regnskap AS	Cheetah	81	5	–
ADVOKATFIRMAET YTTERBØL & CO AS	Cheetah	81	15	–
Autovalid AS	Cheetah	81	5	–
Tandem AS	Cheetah	81	29	77 / 35
Svalner Atlas Norway AS	Lion	79	56	92 / 60
Solhøi Revisjon AS	Cheetah	79	48	–
Advokatfirmaet Aider Legal AS	Lion	78	70	–
Differ Strategy Consulting AS	Cheetah	78	4	76 / 4
Bhl AS	Lion	78	76	–
JANSSON & Larsen Regnskap AS	Cheetah	78	32	81 / 35
Pretor Advokat AS	Lion	77	60	–
Ascender AS	Cheetah	77	13	79 / 3
Revisorkollegiet AS	Cheetah	77	24	71 / 31
Rud Pedersen Public Affairs Company Norge AS	Cheetah	75	39	68 / 36
BDO Advokater AS	Lion	74	68	60 / 55
Vaak Revisjon og Rådgivning AS	Lion	74	93	92 / 99
Arkwright Consulting AS	Cheetah	73	1	82 / 2
Advokatfirma Tofte Hald AS	Cheetah	72	33	70 / 43
R-Na AS	Cheetah	72	49	83 / 38
Sparebank 1 Økonomipartner Nordmøre AS	Lion	71	64	24 / 81
Elden Advokatfirma AS	Lion	70	82	76 / 76
Advokatfirmaet Berngaard AS	Lion	69	80	38 / 70
Advokatfirmaet Pricewaterhousecoopers AS	Cheetah	69	14	–
Thema Consulting Group AS	Cheetah	68	36	72 / 42
Backer Skeie AS	Cheetah	68	16	57 / 23

The sector in numbers

Summary · fiscal year 2025 · Morning class Medium

The sector's median operating margin is 10.3%. 3 of 157 companies have negative equity. The median equity ratio is 27.9%.

Companies with accounts157

Total revenue19,220 MNOK

Median operating margin10.3%

Median equity ratio27.9%

Share with a loss13%

Share with negative equity2%

All figures are for fiscal year 2025. Ranked: 157 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 Medium

Change in rank from 2024 to 2025, for 127 companies ranked in both years.

Climbers

69Formue Accounting ASfrom rank 97 to 2865
66Revisorkonsult ASfrom rank 68 to 285
62Bjerkan Stav Advokatfirma ASfrom rank 67 to 584
49Trigger Oslo ASfrom rank 120 to 7151
45Revicom ASfrom rank 94 to 4956

Fallers

116Addovation ASfrom rank 10 to 12637
86Analysys Mason ASfrom rank 50 to 13632
78KL Økonomi og HR ASfrom rank 23 to 10144
71Thevit ASfrom rank 44 to 11540
69Tellmann Executive Advisors ASfrom rank 42 to 11141

Awards · 2025 · Morning class Medium

Most profitableArepo Invest AS96.8%

Fastest growthAspia Norge AS378.9%

Strongest balance sheetEcit AS91.0%

Largest revenueAdvokatfirmaet Pricewaterhousecoopers AS488 MNOK

Highest revenue per employeeAltera Infrastructure Services AS20.4 MNOK

Needs attention · 2025 · Morning class Medium

68 companies show at least one warning sign. Showing the 15 most important.

criticalBAIN & Company Norway ASNegative equity · Current ratio below 1 (0.35) · Loss before tax
criticalAspia Norge ASNegative equity · Loss before tax
criticalOsloadvokatene ASNegative equity · Loss before tax
watchAdvokatfirmaet Vialto Partners ASVery low equity ratio (1.6%) · Current ratio below 1 (0.95) · Loss before tax
watchKPMG Law Advokatfirma ASVery low equity ratio (0.2%) · Current ratio below 1 (1.00)
watchValue Group ASVery low equity ratio (7.8%) · Current ratio below 1 (0.82)
watchArkwright Consulting ASVery low equity ratio (0.1%) · Current ratio below 1 (0.90)
watchAvo Consulting ASVery low equity ratio (9.3%) · Current ratio below 1 (0.99)
watchVerdane Advisors ASVery low equity ratio (0.6%) · Current ratio below 1 (0.54)
watchProactima ASCurrent ratio below 1 (0.96) · Loss before tax
watchAltor Equity Partners ASVery low equity ratio (0.8%) · Current ratio below 1 (0.91)
watchOptio Incentives ASCurrent ratio below 1 (0.76) · Loss before tax
watchThe Assessment Company Norge ASCurrent ratio below 1 (0.77) · Loss before tax
watchFrisikt Vest ASCurrent ratio below 1 (0.59) · Loss before tax
watchPermian Business Partner ASVery low equity ratio (1.5%) · Current ratio below 1 (0.74)

Sector map · 2025 · Morning class Medium

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
Advokatfirmaet Dla Piper Norway AS	31.9%	67.4%	401 MNOK
Revisorkonsult AS	35.7%	54.4%	62 MNOK
Moore AS	29.7%	60.4%	61 MNOK
Advokatfirmaet Glittertind AS	41.5%	72.3%	159 MNOK
Bjerkan Stav Advokatfirma AS	32.9%	53.1%	83 MNOK
Brækhus Advokatfirma AS	32.1%	64.6%	216 MNOK
Revisjon Sør AS	25.5%	60.5%	53 MNOK
Uno Score AS	28.2%	56.8%	50 MNOK
AURLIEN VORDAHL & CO Advokatfirma AS	27.6%	49.9%	59 MNOK
Bhl AS	26.3%	44.4%	73 MNOK
Advokatfirmaet Bull AS	29.0%	67.6%	233 MNOK
Elden Advokatfirma AS	16.4%	51.8%	301 MNOK
Advokatfirmaet Øverbø Gjørtz AS	27.6%	50.7%	72 MNOK
Advokatfirmaet Aider Legal AS	19.4%	38.4%	89 MNOK
Sikkerhetsledelse AS	14.0%	46.1%	62 MNOK
Vaak Revisjon og Rådgivning AS	20.2%	64.1%	80 MNOK
Fullstakk Marketing AS	8.6%	48.4%	58 MNOK
Pbl Regnskap AS	9.9%	58.4%	97 MNOK
Advokatfirmaet Føyen AS	24.2%	46.6%	202 MNOK
Zacco Norway AS	15.4%	82.5%	104 MNOK
BDO Advokater AS	15.3%	38.1%	231 MNOK
Stiegler Advokatfirma AS	7.6%	68.6%	57 MNOK
Harris Advokatfirma AS	22.8%	34.0%	159 MNOK
Ræder Bing Advokatfirma AS	10.2%	53.9%	295 MNOK
Inventura AS	12.7%	44.3%	205 MNOK
Berg Økonomi AS	10.2%	48.0%	67 MNOK
Ecit Norian AS	9.5%	38.4%	272 MNOK
Formue Accounting AS	9.6%	50.9%	95 MNOK
Mef Service AS	26.1%	43.7%	168 MNOK
Advokatfirmaet Rogstad AS	13.8%	33.1%	78 MNOK
Pretor Advokat AS	19.2%	33.2%	51 MNOK
Norgesgruppen Regnskap AS	3.0%	54.1%	135 MNOK
Odin Prosjekt AS	10.1%	58.9%	73 MNOK
Advokatfirmaet Berngaard AS	13.7%	48.5%	51 MNOK
Admento AS	7.9%	38.3%	296 MNOK
Bdt Viken AS	8.6%	57.3%	67 MNOK
Advisetech AS	13.3%	28.0%	50 MNOK
Summa Equity Advisory AS	8.5%	59.2%	166 MNOK
Sparebank 1 Økonomipartner Nordmøre AS	17.5%	35.5%	91 MNOK
Sparebank 1 Regnskapshuset Valhall AS	9.9%	40.3%	74 MNOK
Eneas Services AS	56.4%	25.2%	335 MNOK
Rud Pedersen Public Affairs Company Norge AS	17.3%	19.0%	76 MNOK
Svalner Atlas Norway AS	19.8%	31.4%	60 MNOK
Forvis Mazars AS	12.7%	33.0%	112 MNOK
Vivicta Accounting AS	27.0%	27.9%	81 MNOK
Advokatfirmaet Legalis AS	8.1%	32.1%	72 MNOK
Haver Advokatfirma AS	36.4%	11.3%	124 MNOK
Solhøi Revisjon AS	21.0%	26.9%	52 MNOK
Revicom AS	21.9%	15.4%	81 MNOK
Knif Regnskap AS	11.6%	18.2%	117 MNOK
Azets AS	7.3%	65.9%	146 MNOK
Advokatfirmaet Bratlien AS	34.6%	2.1%	57 MNOK
Advokatfirmaet Hjort AS	33.5%	11.8%	321 MNOK
Prokura AS	2.2%	57.2%	59 MNOK
Sparebank 1 Østfold Akershus Regnskapshuset AS	7.7%	33.2%	52 MNOK
Tmf Norway AS	10.8%	36.8%	119 MNOK
Sprint Consulting AS	11.0%	29.4%	148 MNOK
Oseberg Services AS	8.6%	25.4%	57 MNOK
R-Na AS	13.1%	27.8%	59 MNOK
Uniconsult AS	35.8%	12.1%	242 MNOK
Arepo Invest AS	96.8%	0.2%	51 MNOK
FH Services AS	6.7%	37.2%	74 MNOK
Advokatfirma Tofte Hald AS	16.5%	15.1%	97 MNOK
Tandem AS	19.9%	12.9%	61 MNOK
Ecit AS	−141.7%	91.0%	52 MNOK
Frisikt Øst AS	11.4%	35.7%	63 MNOK
Kjell Haver Regnskapsservice AS	22.5%	10.5%	67 MNOK
Slm Revisjon AS	13.5%	15.6%	64 MNOK
Nitschke AS	33.6%	6.9%	78 MNOK
JANSSON & Larsen Regnskap AS	18.1%	14.1%	53 MNOK
Trigger Oslo AS	4.1%	37.0%	76 MNOK
Oslo Economics AS	15.5%	13.2%	184 MNOK
Knowit Insight AS	6.4%	26.5%	65 MNOK
Servicenow Norway AS	4.9%	41.8%	115 MNOK
Bryn Aarflot AS	4.9%	43.2%	187 MNOK
Implement Consulting Group AS	0.8%	33.4%	87 MNOK
Buhr AS	2.2%	31.8%	58 MNOK
Econpartner AS	34.1%	3.3%	84 MNOK
Relevant Regnskap AS	17.9%	0.5%	60 MNOK
PA Consulting Group AS	−5.2%	68.5%	84 MNOK
Sparebank 1 Økonomihuset AS	6.4%	45.5%	101 MNOK
A-2 Norge AS	2.1%	34.9%	207 MNOK
Æge Energy AS	0.8%	29.7%	51 MNOK
Bedriftsakademiet AS	5.2%	18.6%	86 MNOK
Athenas AS	9.4%	13.6%	132 MNOK
Vestlandets Innovasjonsselskap AS	7.2%	22.3%	81 MNOK
Agenda Kaupang AS	5.6%	25.8%	99 MNOK
Økonomihuset AS	3.6%	28.3%	52 MNOK
Vkst AS	10.4%	8.9%	53 MNOK
Clave Consulting AS	10.3%	25.1%	82 MNOK
ADVOKATFIRMAET YTTERBØL & CO AS	21.7%	6.4%	51 MNOK
Altor Equity Partners AS	31.8%	0.8%	140 MNOK
Autovalid AS	55.6%	0.5%	53 MNOK
Ecit Veiby Akonto AS	12.1%	42.6%	51 MNOK
Thema Consulting Group AS	13.2%	16.8%	94 MNOK
Backer Skeie AS	18.1%	6.4%	61 MNOK
Merkant AS	11.9%	16.9%	60 MNOK
ADVOKATFIRMAET HALVORSEN & CO AS	5.7%	22.3%	88 MNOK
Value Group AS	10.8%	7.8%	298 MNOK
Acapo Onsagers AS	−3.6%	43.3%	395 MNOK
KL Økonomi og HR AS	11.9%	22.7%	56 MNOK
Ecit Intunor AS	−0.3%	31.4%	168 MNOK
Ascender AS	15.9%	5.6%	178 MNOK
Rambøll Management Consulting AS	−0.7%	37.2%	76 MNOK
Marstrand AS	4.8%	24.3%	261 MNOK
Wepe Regnskap AS	12.5%	25.8%	53 MNOK
Differ Strategy Consulting AS	19.6%	0.4%	57 MNOK
Ecit Services AS	11.5%	25.8%	381 MNOK
Rekom Norge AS	25.4%	41.9%	69 MNOK
Revisorkollegiet AS	16.2%	10.5%	73 MNOK
Tellmann Executive Advisors AS	11.7%	10.6%	81 MNOK
Amesto Accounthouse Sør AS	15.2%	15.4%	66 MNOK
Kiwa Kompetanse AS	−3.3%	28.0%	101 MNOK
KPMG Law Advokatfirma AS	15.0%	0.2%	437 MNOK
Thevit AS	−6.9%	32.5%	130 MNOK
View Procurator AS	10.7%	5.7%	79 MNOK
Sparebank 1 Regnskapshuset Nord-Norge AS	2.7%	42.0%	332 MNOK
Altera Infrastructure Services AS	8.3%	9.0%	143 MNOK
Azets Consulting AS	−9.0%	31.0%	149 MNOK
Optio Incentives AS	−12.4%	52.6%	127 MNOK
ERNST & Young Compliance Services AS	11.3%	0.3%	70 MNOK
Saga Regnskap og Rådgivning AS	4.4%	14.1%	96 MNOK
Habberstad AS	3.9%	15.2%	91 MNOK
Dataplan Alpha AS	14.0%	7.2%	61 MNOK
Advokatfirmaet Pricewaterhousecoopers AS	16.6%	6.1%	488 MNOK
Addovation AS	0.3%	28.1%	147 MNOK
Amby AS	3.2%	33.4%	79 MNOK
Sparebank 1 Forretningspartner Østlandet AS	0.4%	53.6%	142 MNOK
Proplan Regnskap AS	6.2%	10.0%	51 MNOK
Codex Advokat Oslo AS	−0.7%	17.2%	82 MNOK
Soliditet AS	4.2%	0.2%	84 MNOK
Arkwright Consulting AS	17.0%	0.1%	229 MNOK
Enora AS	−8.6%	76.8%	75 MNOK
Verdane Advisors AS	16.7%	0.6%	188 MNOK
HR Huset AS	7.8%	6.9%	72 MNOK
Analysys Mason AS	−10.7%	50.7%	56 MNOK
Crowe Partner Revisjon AS	1.5%	6.3%	132 MNOK
KS-Digitale Fellestjenester AS	1.6%	8.6%	218 MNOK
Cedra Norge AS	−61.1%	68.9%	88 MNOK
Ryger Advokatfirma AS	3.2%	5.1%	54 MNOK
Permian Business Partner AS	5.3%	1.5%	95 MNOK
Avo Consulting AS	6.0%	9.3%	224 MNOK
Exacta AS	0.0%	11.3%	53 MNOK
FREDRIK & Louisa Services AS	2.1%	8.0%	72 MNOK
Amesto Accounthouse AS	5.6%	10.4%	207 MNOK
Statement AS	0.2%	25.0%	73 MNOK
Metro Branding AS	1.4%	6.4%	59 MNOK
Proactima AS	−0.6%	23.6%	174 MNOK
The Assessment Company Norge AS	−0.2%	31.0%	118 MNOK
Osloadvokatene AS	−2.0%	−4.3%	67 MNOK
S&P Services AS	6.0%	2.8%	77 MNOK
Aspia Norge AS	−14.4%	−10.5%	269 MNOK
Longship AS	0.7%	1.0%	54 MNOK
Advokatfirmaet Vialto Partners AS	6.9%	1.6%	107 MNOK
Frisikt Vest AS	−2.2%	12.0%	102 MNOK
BAIN & Company Norway AS	−6.2%	−164.2%	423 MNOK
Advisense AS	−8.8%	5.2%	68 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.

Holding and investment companies
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

Rank	Company	Score	Total assets
21	AR HE Invest AS	75	14 MNOK
22	Global Investments AS	75	77 MNOK
23	Olevi Holding AS	75	23 MNOK
24	Oml Holding AS	73	11 MNOK
25	TB Investment AS	70	16 MNOK
26	ØW Holding AS	70	56 MNOK
27	Bdn Holding AS	70	20 MNOK
28	Ajs Invest AS	69	42 MNOK
29	Apex Capital AS	68	33 MNOK
30	Wennberg Technology Invest AS	68	16 MNOK
31	Solstrand Holding AS	67	26 MNOK
32	Cloudberry Capital AS	67	15 MNOK
33	Prime Holding AS	67	72 MNOK
34	Callenholm Holding AS	66	58 MNOK
35	Skjæggestad Invest AS	65	41 MNOK
36	Kreti og Pleti Invest AS	64	91 MNOK
37	Nortrans Holding AS	64	11 MNOK
38	Miraa Holding AS	63	234 MNOK
39	VL Invest AS	62	21 MNOK
40	T-Matrix Invest AS	62	23 MNOK
41	IO Holding AS	62	15 MNOK
42	Lr-Investment AS	60	17 MNOK
43	Yrg Invest AS	60	10 MNOK
44	Jabi Holding AS	60	16 MNOK
45	Henke Invest AS	59	23 MNOK
46	Vill Invest AS	59	11 MNOK
47	Hult Holding AS	58	17 MNOK
48	Pilen Invest AS	58	24 MNOK
49	Sunde Invest AS	58	18 MNOK
50	C Invest AS	57	16 MNOK
51	Sloerassen Invest AS	56	20 MNOK
52	Cgc Holding AS	54	15 MNOK
53	WK Invest AS	54	22 MNOK
54	Edorf Invest AS	54	17 MNOK
55	Scenario Invest AS	53	15 MNOK
56	Verdane Advisors Holding AS	52	665 MNOK
57	BH Invest Vestfold AS	52	13 MNOK
58	Ljh Invest i AS	52	63 MNOK
59	Perfekt Rapportering Holding AS	52	16 MNOK
60	Creditreform Holding AS	51	17 MNOK
61	Gralys Invest AS	51	11 MNOK
62	Håvardsrud Holding AS	51	11 MNOK
63	Ole-Invest AS	51	11 MNOK
64	Millennium Holding AS	50	20 MNOK
65	T.V.Langedrag Invest AS	50	18 MNOK
66	Klein Capital AS	49	829 MNOK
67	Wmr Holding AS	49	25 MNOK
68	Horgi Holding AS	47	33 MNOK
69	L&T Bredal Invest AS	47	28 MNOK
70	Ad-Ma Holding AS	46	21 MNOK
71	Pope Holding AS	46	13 MNOK
72	Harding Invest AS	46	39 MNOK
73	Konform Holding AS	46	25 MNOK
74	Arta Holding AS	44	223 MNOK
75	Melesio Capital AS	43	965 MNOK
76	Håvard S Braaten Invest AS	43	11 MNOK
77	Skansemyren Holding AS	43	16 MNOK
78	Stig Stenløkk Holding AS	42	11 MNOK
79	Admento Holding AS	41	419 MNOK
80	Morco Holding AS	41	64 MNOK
81	Gullp Invest AS	41	87 MNOK
82	Abakus Invest AS	40	29 MNOK
83	Skylight Holding AS	38	26 MNOK
84	TN Invest AS	38	22 MNOK
85	Tempo Investering AS	38	12 MNOK
86	AP Capital AS	38	14 MNOK
87	Pacific Capital AS	37	11 MNOK
88	Jfp Invest AS	37	24 MNOK
89	Momo Invest AS	36	74 MNOK
90	Melesio Holding AS	36	628 MNOK
91	I.CO Invest AS	35	15 MNOK
92	Ojt Holding AS	35	30 MNOK
93	Lotma Holding AS	34	43 MNOK
94	Fyrva Holding AS	34	678 MNOK
95	Ska Invest AS	34	10 MNOK
96	Aas Invest AS	34	23 MNOK
97	C&C Capital AS	34	12 MNOK
98	Phoenix Invest AS	33	13 MNOK
99	Rni Invest AS	32	60 MNOK
100	Cinco Invest AS	31	14 MNOK

Score 0–100 against the other holding companies in the sector: equity ratio 40 %, return on assets 40 % and current ratio 20 %. Methodology

In our articles

Finance earns 58.3% on operations; the typical Norwegian industry makes 5.7%No. 6 of 22 on median operating margin

All articles

Scenario analysis: the sector's weakest year

The sector's weakest year was 2022, with a median operating margin of 7.4%.

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 · weakest year	7.4%	34.5%
2023	10.1%	40.2%
2024	10.3%	38.5%
2025	10.0%	38.4%
2026	14.1%	55.8%

In 2022, 9 ranked companies did better than the sector, 4 about the same and 4 weaker.

Held up best in 2022

1Executive Decision Support ASequity ratio 65.2%52.4%
2Hollr ASequity ratio 100.0%34.3%
3Poort Consulting ASequity ratio 19.2%28.2%
4Dagh Consulting ASequity ratio 5.9%17.6%
5Cim ASequity ratio 44.3%15.3%
6Cuma Event ASequity ratio 8.2%13.0%
7Bearingpoint Norway ASequity ratio 34.5%10.1%
8Front Innovation ASequity ratio 5.8%9.8%
9Lighthouse Finance ASequity ratio 3.3%7.4%

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))

Latest value: 104.0 (2026M09)

Consumer price index rose 3.0% in 2025; the sector's median operating margin fell 0.3 percentage points.

Consumer price index per year and the sector's median operating margin
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%	10.1%	10.3%	10.0%	14.1%

Source: SSB (14710, CC BY 4.0). Source · fetched 3 November 2026

Policy rate (prosent)

Latest value: 4.50 (2026-10)

Policy rate fell 0.20 percentage points in 2025; the sector's median operating margin fell 0.3 percentage points.

Policy rate per year and the sector's median operating margin
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%	10.1%	10.3%	10.0%	14.1%

Source: Norges Bank (IR, NLOD 2.0). Source · fetched 3 November 2026

When policy rate fell in 2025, 820 of 1,613 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

Fiala Regnskap AS 983150187 Bankruptcy · 3 November 2026
Borge Lean Consulting AS 926817876 Voluntary liquidation · 2 November 2026 · 0 MNOK (2025)
Hydrobatt AS 924634227 Forced dissolution · 2 November 2026 · 0 MNOK (2023)
NEXT STEP ESG 7.0. AS 932542552 Forced dissolution · 2 November 2026
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

All bankruptcies and liquidations in the sector

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