Revisjon, regnskap og rådgivning
FollowDownload sector report (PDF)1,670 companies ranked against comparable companies in four Morning company classes. Fiscal year 2025. Source: Brønnøysund Register Centre. Methodology
Ranking · 2025 · Morning class Small
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 Small
- Synega Regnskap AS−45
From 2024 to 2025: the equity ratio fell from 75.5% to 11.2%.
- Odal Økonomi AS+36
From 2024 to 2025: went from a loss to a profit before tax and the equity ratio rose from 8.2% to 48.0%.
- Nival AS+35
From 2024 to 2025: the operating margin rose from 6.0% to 14.3% and revenue grew by 30%.
- Mosjøen Regnskapskontor AS−35
From 2024 to 2025: the equity ratio fell from 55.6% to 1.8%.
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 Small
The five largest companies account for 3% of the sector's revenue. Combined profit before tax for the 298 ranked companies: 1,000 MNOK.
Size
The largest by revenue and employees, and who earns the most per employee.
Highest revenue
- Rytec AS 49 MNOK
- Bjørgvin Revisjon AS 49 MNOK
- Klosser Innovasjon AS 49 MNOK
- Henka Revisjon AS 48 MNOK
- HLO REVISJON & Rådgivning AS 48 MNOK
Operating revenue.
Most employees
- MATCH REKRUTTERING & Bemanning AS 197
- Better Business Kompetanse AS 133
- Progressum AS 62
- GERHARD & Sønn AS 51
- Rygr Økonomi AS 44
Employees according to the Central Coordinating Register.
Highest revenue per employee
- Borr Drilling Management AS 8.8 MNOK
- Hartvig Wennberg AS 6.5 MNOK
- Axelar AS 6.2 MNOK
- Grimm Maritime AS 5.8 MNOK
- Gagn Consulting AS 4.9 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
- Hakø Invest AS 98.9%
- Televenture Capital AS 97.5%
- Aktivt Eierskap AS 96.9%
- Fyrva AS 96.0%
- Creto-Gruppen AS 95.1%
Operating result divided by operating revenue.
Largest profit
- Fyrva AS 64 MNOK
- Hakø Invest AS 46 MNOK
- Hartvig Wennberg AS 30 MNOK
- Televenture Capital AS 28 MNOK
- Remis AS 21 MNOK
Profit before tax.
Largest loss
- CEMASYS.Com AS −43 MNOK
- Verdane Elevate AS −11 MNOK
- Watchbird AS −9 MNOK
- Position Green AS −6 MNOK
- Formue Advokater AS −5 MNOK
Profit before tax, the largest negative.
Most solid
- Hakø Invest AS 99.9%
- Fyrva AS 97.9%
- Remis AS 97.1%
- Inkerman AS 96.0%
- Hartvig Wennberg AS 91.2%
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
- Wican Regnskap AS +219.6%
- Meisel AS +157.8%
- IT Regnskap AS +62.7%
- Forvis Mazars Outsourcing AS +57.1%
- Anvil Asset Advisors AS +57.0%
Revenue growth from the year before, only from at least NOK 10 million in revenue.
Largest revenue decline
- Wak Family Office AS −60.4%
- BW Energy Norway Management AS −59.1%
- Televenture Capital AS −55.0%
- Inkerman AS −51.7%
- MATCH REKRUTTERING & Bemanning AS −41.1%
Revenue decline from the year before, only from at least NOK 10 million in revenue.
Biggest climbers
- Odal Økonomi AS +36.1 points
- Nival AS +34.4 points
- Rödl Accounting AS +33.9 points
- Nlr Regnskap AS +29.0 points
- Revisorgruppen Fjordane AS +28.7 points
Change in index points from the year before.
Biggest fallers
- Synega Regnskap AS −44.7 points
- Mosjøen Regnskapskontor AS −34.4 points
- Bjørgvin Revisjon AS −32.2 points
- MATCH REKRUTTERING & Bemanning AS −32.2 points
- Columbi Services AS −31.6 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.
Positions in the sector · 2025 · Morning class Small
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).
- Bjørgvin Revisjon AS profitability 94 → 94, solidity 83 → 6
- Mosjøen Regnskapskontor AS profitability 67 → 70, solidity 84 → 9
- Screen Publishing AS profitability 16 → 73, solidity 29 → 70
- Rödl Accounting AS profitability 9 → 60, solidity 0 → 47
- Synega Regnskap AS profitability 63 → 62, solidity 96 → 27
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
Summary · fiscal year 2025 · Morning class Small
The sector's median operating margin is 9.0%. 6 of 302 companies have negative equity. The median equity ratio is 29.0%.
All figures are for fiscal year 2025. Ranked: 302 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 Small
Change in rank from 2024 to 2025, for 253 companies ranked in both years.
Climbers
- 193Odal Økonomi ASfrom rank 276 to 8360
- 180Nival ASfrom rank 277 to 9758
- 174Revisorgruppen Fjordane ASfrom rank 198 to 2472
- 173Screen Publishing ASfrom rank 251 to 7861
- 172Rödl Accounting ASfrom rank 281 to 10956
Fallers
- 244Synega Regnskap ASfrom rank 17 to 26132
- 214Mosjøen Regnskapskontor ASfrom rank 36 to 25035
- 169Abilator ASfrom rank 71 to 24037
- 156Bjørgvin Revisjon ASfrom rank 13 to 16947
- 155Columbi Services ASfrom rank 135 to 29020
Awards · 2025 · Morning class Small
Needs attention · 2025 · Morning class Small
111 companies show at least one warning sign. Showing the 15 most important.
- criticalVega Consultants ASNegative equity · Current ratio below 1 (0.92) · Loss before tax
- criticalRsm Drift ASNegative equity · Current ratio below 1 (0.40) · Loss before tax
- criticalFormue Advokater ASNegative equity · Loss before tax
- criticalFrontcore ASNegative equity · Current ratio below 1 (0.55)
- criticalM&O Partners ASNegative equity
- criticalJsan Consulting ASNegative equity
- watchSør-Varanger Utvikling ASVery low equity ratio (0.3%) · Current ratio below 1 (0.99) · Loss before tax
- watchBjørgvin Revisjon ASVery low equity ratio (1.4%) · Current ratio below 1 (1.00)
- watchMosjøen Regnskapskontor ASVery low equity ratio (1.8%) · Current ratio below 1 (0.67)
- watchIregnskap ASVery low equity ratio (0.9%) · Current ratio below 1 (0.97)
- watchBrødrene Jensen Management ASVery low equity ratio (2.1%) · Current ratio below 1 (0.83)
- watchAst Regnskap ASVery low equity ratio (7.0%) · Current ratio below 1 (0.97)
- watchFram Revisjon ASVery low equity ratio (8.3%) · Current ratio below 1 (0.97)
- watchNovacura Norge ASVery low equity ratio (0.6%) · Current ratio below 1 (1.00)
- watchEika Økonomi Midt-Norge ASVery low equity ratio (10.0%) · Current ratio below 1 (0.96)
Sector map · 2025 · Morning class Small
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
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
In our articles
- Finance earns 58.3% on operations; the typical Norwegian industry makes 5.7%No. 6 of 22 on median operating margin
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))
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% | 10.1% | 10.3% | 10.0% | 14.1% |
Source: SSB (14710, CC BY 4.0). Source · fetched 3 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% | 10.1% | 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
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 |