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FollowDownload sector report (PDF)918 companies ranked against comparable companies in four Morning company classes. Fiscal year 2023. Source: Brønnøysund Register Centre. Methodology
Ranking · 2023 · Morning class Micro
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 Micro
- Ebeltoften Familiebarnehage AS+37
From 2022 to 2023: the operating margin rose from −15.1% to 20.0% and went from a loss to a profit before tax.
- Fotballprogresjon Norge AS−6
From 2022 to 2023: went from a loss to a profit before tax and the operating margin rose from −3.9% to 8.4%.
- Oslofjorden Dykkersenter AS+6
From 2022 to 2023: the equity ratio rose from −16.4% to 20.8% and the operating margin rose from 6.0% to 16.0%.
- N.G.S Montessori AS−6
From 2022 to 2023: went from a loss to a profit before tax and the operating margin rose from −6.5% to 10.5%.
Top lists in the sector · 2023 · Morning class Micro
The five largest companies account for 2% of the sector's revenue. Combined profit before tax for the 530 ranked companies: 101 MNOK.
Highest revenue
- Den Nye Trafikkskolen AS 10 MNOK
- Elevens Trafikkskole AS 10 MNOK
- Frydensborg Gård Barnehage AS 10 MNOK
- Øyno Fus Barnehage AS 10 MNOK
- Ørarampen Barnehage AS 10 MNOK
Operating revenue.
Highest operating margin
- Kulinarisk Akademi Varemerke AS 98.8%
- Martin Gabrielsen Invest AS 98.6%
- Medico Consulting AS 98.4%
- H2B - Headheartbody AS 89.6%
- Museumshjelpen AS 82.2%
Operating result divided by operating revenue.
Largest profit
- Norlandia Barnehagedrift AS 9 MNOK
- Fevik Maritime Leirskole AS 5 MNOK
- SPIRE & Gro Barnehagene AS 5 MNOK
- Infinitum Holding AS 4 MNOK
- Birgit Skarstein AS 3 MNOK
Profit before tax.
Largest loss
- Hudpleieakademiet AS −4 MNOK
- Preg Barnehager AS −4 MNOK
- Hundeskolen AS −3 MNOK
- Hamna Gård AS −2 MNOK
- Yrkessjåførkurs AS −2 MNOK
Profit before tax, the largest negative.
Most solid
- Fevik Maritime Leirskole AS 98.2%
- Infinitum Holding AS 98.0%
- Hundeskolen AS 97.7%
- Holtskog AS 97.5%
- Support TO Sport AS 95.0%
Equity ratio: equity divided by total assets.
Fastest growth
No company meets the requirement this year.
Revenue growth from the year before, only from at least NOK 10 million in revenue.
Largest revenue decline
No company meets the requirement this year.
Revenue decline from the year before, only from at least NOK 10 million in revenue.
Biggest climbers
- Ebeltoften Familiebarnehage AS +37.2 points
- Oslofjorden Dykkersenter AS +6.4 points
- Væsker Kampkunst Akademi AS +1.8 points
- Waypoint Maritime AS +1.0 points
Change in index points from the year before.
Biggest fallers
- N.G.S Montessori AS −6.4 points
- Fotballprogresjon Norge AS −6.1 points
Change in index points from the year before.
Most employees
- Midt-Norsk Sikkerhetsopplæring AS 54
- Skogshorn Rideleir AS 51
- Step in Dansestudio AS 49
- Villamoen Barnehage AS 48
- Svømmeakademiet AS 48
Employees according to the Central Coordinating Register.
Highest revenue per employee
- Elevens Trafikkskole AS 1.6 MNOK
- Trafikksikker AS 1.6 MNOK
- Hudpleieakademiet AS 1.5 MNOK
- Juliussen Trafikkskole AS 1.4 MNOK
- Driving Trafikkskole AS 1.4 MNOK
Only companies with at least 5 employees.
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 · 2023 · Morning class Micro
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.
The chart and list show the 400 largest companies by revenue, of 530 in the class. Everyone is in the ranking. Full ranking
Bubble size shows relative revenue, not exact figures. Dashed lines show where the 5 companies that moved most stood in 2022 (small ring).
- Ebeltoften Familiebarnehage AS profitability 0 → 93, solidity 0 → 0
- Fotballprogresjon Norge AS profitability 33 → 77, solidity 100 → 72
- Waypoint Maritime AS profitability 44 → 82, solidity 0 → 0
- Oslofjorden Dykkersenter AS profitability 94 → 88, solidity 0 → 32
- N.G.S Montessori AS profitability 39 → 63, solidity 56 → 35
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 2023 · Morning class Micro
The sector's median operating margin is 3.4%. 215 of 997 companies have negative equity. The median equity ratio is 32.3%.
All figures are for fiscal year 2023. Ranked: 530 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 Micro
Change in rank from 2022 to 2023, for 6 companies ranked in both years.
Climbers
None.
Fallers
- 421Waypoint Maritime ASfrom rank 7 to 42827
- 364Væsker Kampkunst Akademi ASfrom rank 6 to 37036
- 350Ebeltoften Familiebarnehage ASfrom rank 8 to 35837
- 245N.G.S Montessori ASfrom rank 3 to 24851
- 191Oslofjorden Dykkersenter ASfrom rank 4 to 19558
Awards · 2023 · Morning class Micro
Needs attention · 2023 · Morning class Micro
544 companies show at least one warning sign. Showing the 15 most important.
- criticalØyno Fus Barnehage ASNegative equity · Current ratio below 1 (0.58) · Loss before tax
- criticalRødhette Fus Barnehage ASNegative equity · Current ratio below 1 (0.72) · Loss before tax
- criticalAnsgar Bibelskole ASNegative equity · Current ratio below 1 (0.75) · Loss before tax
- criticalTussilago Barnehage Stjørdal ASNegative equity · Current ratio below 1 (0.68) · Loss before tax
- criticalBorgundveien Barnehage ASNegative equity · Current ratio below 1 (0.69) · Loss before tax
- criticalRavnanger Barnehage ASNegative equity · Current ratio below 1 (0.95) · Loss before tax
- criticalGjerstad Natur- og Gårdsbarnehage ASNegative equity · Current ratio below 1 (0.59) · Loss before tax
- criticalHelledammen Fus Barnehage ASNegative equity · Current ratio below 1 (0.59) · Loss before tax
- criticalFbhd Drift ASNegative equity · Current ratio below 1 (0.68) · Loss before tax
- criticalVikkilen Barnehage ASNegative equity · Current ratio below 1 (0.24) · Loss before tax
- criticalMoving Mamas ASNegative equity · Current ratio below 1 (0.17) · Loss before tax
- criticalBlixland Hestesenter ASNegative equity · Current ratio below 1 (0.28) · Loss before tax
- criticalAlvim Barnehage ASNegative equity · Current ratio below 1 (0.80) · Loss before tax
- criticalMultibemanning ASNegative equity · Current ratio below 1 (0.66) · Loss before tax
- criticalTangen Trafikkskole ASNegative equity · Current ratio below 1 (0.11) · Loss before tax
Sector map · 2023 · Morning class Micro
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.
The map shows the 400 largest companies by revenue, of 530 ranked. Everyone is in the ranking.
Show the map's figures as a table
Holding and investment companies · 2023
42 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: 12 have at least 10 MNOK in assets and are listed.
| Rank | Company | Score | Equity ratio | Return on assets | Current ratio | Total assets |
|---|---|---|---|---|---|---|
| 1 | Tiram Holding AS | 86 | 97.6% | 19.5% | 43.35 | 16 MNOK |
| 2 | Dahlenmyhr Holding AS | 78 | 87.9% | 31.8% | 2.81 | 10 MNOK |
| 3 | Nathan Holding AS | 76 | 90.3% | 10.0% | 68.14 | 36 MNOK |
| 4 | Ween Kapital AS | 60 | 71.1% | 17.3% | 2.20 | 30 MNOK |
| 5 | Isolde Invest AS | 54 | 97.8% | 0.6% | 13.32 | 94 MNOK |
| 6 | Lfs Holding AS | 49 | 86.5% | 1.4% | 162.16 | 13 MNOK |
| 7 | Sfr Holding AS | 42 | 58.9% | 9.3% | 0.72 | 903 MNOK |
| 8 | Vid Holding AS | 42 | 99.9% | −0.1% | 0.60 | 35 MNOK |
| 9 | Oasen Skole Holding AS | 40 | 46.2% | 5.4% | 2.66 | 27 MNOK |
| 10 | Sgd Holding AS | 29 | 68.4% | 2.4% | 0.66 | 12 MNOK |
| 11 | Hjertås Holding AS | 26 | 28.6% | 3.1% | 1.73 | 17 MNOK |
| 12 | Noroff Holding AS | 18 | 40.1% | 3.0% | 0.22 | 151 MNOK |
Score 0–100 against the other holding companies in the sector: equity ratio 40 %, return on assets 40 % and current ratio 20 %. Methodology
Scenario analysis: the sector's weakest year
The sector's weakest year was 2021, with a median operating margin of −5.7%.
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 |
|---|---|---|
| 2019 | – | – |
| 2020 | – | – |
| 2021 · weakest year | −5.7% | 0.8% |
| 2022 | −3.4% | −20.8% |
| 2023 | 3.1% | 28.2% |
| 2024 | 2.8% | 28.1% |
| 2025 | 3.9% | 30.9% |
In 2021, 0 ranked companies did better than the sector, 1 about the same and 0 weaker.
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 rose 1.2 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 | −5.7% | −3.4% | 3.1% | 2.8% | 3.9% | – |
Source: SSB (14710, CC BY 4.0). Source · fetched 1 November 2026
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the sector's median operating margin rose 1.2 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Policy rate, annual average | 0.08 | 1.32 | 3.54 | 4.50 | 4.30 | 4.14 (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 | −0.16 percentage points |
| Sector's median operating margin | −5.7% | −3.4% | 3.1% | 2.8% | 3.9% | – |
Source: Norges Bank (IR, NLOD 2.0). Source · fetched 1 November 2026
When policy rate fell in 2025, 483 of 869 ranked companies kept their operating margin at or above the year before. Among the largest: Vid Vitenskapelige Høgskole AS (−1.0% → 1.0%), Wright Trafikkskole AS (3.5% → 4.1%), Oslo Nye Høyskole AS (22.8% → 24.6%), Ifront Karriere AS (2.8% → 4.0%), Læringsverkstedet Gruppen AS (6.1% → 12.1%).
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
- 19,430
- +1.8% from 2023
- Persons employed
- 33,818
- +0.3% from 2023
- Turnover
- NOK 38.2 bn
- +5.2% from 2023
- Gross operating margin
- 12.8%
- Gross operating surplus divided by turnover
All enterprises, sole proprietorships included. SSB withholds some figures for confidentiality. The figure then shows the latest year with every value, and the year is given beside it.
Bankruptcies in the industry
35 enterprise bankruptcies in the last four quarters (2025K4–2026K3). Change 0.0% against the four quarters before (35). That is about 1.8 per 1,000 enterprises.
Source: Statistics Norway (SSB), table 12910, table 10790. 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
- Arlo Maritime AS 994312367 Voluntary liquidation · 31 October 2026
- Nina Lægreid AS 936428002 Voluntary liquidation · 31 October 2026 · 0 MNOK (2025)
- Socia AS 937843712 Voluntary liquidation · 31 October 2026
- Spornes Gårdsbarnehage AS 995003066 Voluntary liquidation · 31 October 2026 · 6 MNOK (2025)
- VM Coaching AS 935908914 Voluntary liquidation · 31 October 2026 · 1 MNOK (2025)
- Wensaone AS 934080688 Voluntary liquidation · 31 October 2026
- AD Faktotum AS 926717294 Voluntary liquidation · 30 October 2026 · 0 MNOK (2025)
- Amygdala Coaching og Veiledning AS 925902101 Voluntary liquidation · 30 October 2026 · 0 MNOK (2025)
Industry codes (NACE)
| Code | Description |
|---|---|
| 85* | Hele hovedgruppe 85 |
| 85.100 | Førskoleundervisning og drift av barnehager |
| 85.201 | Ordinær grunnskoleundervisning |
| 85.202 | Spesialskoleundervisning på grunnskolenivå |
| 85.310 | Videregående opplæring innenfor studieforberedende utdanningsprogram |
| 85.320 | Videregående opplæring innenfor yrkesfaglige utdanningsprogram |
| 85.330 | Undervisning innenfor kort høyere yrkesfaglig utdanning |
| 85.401 | Undervisning ved universiteter |
| 85.402 | Undervisning ved vitenskapelige høgskoler |
| 85.403 | Undervisning ved andre høgskoler |
| 85.404 | Undervisning innenfor lang høyere yrkesfaglig utdanning |
| 85.510 | Undervisning innenfor idrett og rekreasjon |
| 85.521 | Kulturskoleundervisning til barn og unge |
| 85.529 | Annen undervisning innenfor kultur |
| 85.531 | Undervisning ved godkjente trafikkskoler |
| 85.532 | Annen trafikkskoleundervisning |
| 85.591 | Undervisning ved folkehøgskoler |
| 85.592 | Undervisning i form av arbeidsmarkedskurs/arbeidsrettede kurs |
| 85.593 | Undervisning ved voksenopplæringssentre, aktiviteter i studieforbund og undervisning i form av frivillige organisasjoners kurs |
| 85.594 | Privatundervisning |
| 85.595 | Undervisning innenfor religion |
| 85.596 | Aktiviteter utført ved leirskoler |
| 85.597 | Annen undervisning ellers |
| 85.610 | Formidlingstjenester tilknyttet kurs og veiledere |
| 85.691 | Pedagogisk-psykologisk rådgivningstjeneste |
| 85.699 | Andre tjenester tilknyttet undervisning ikke nevnt annet sted |