Sector

Undervisning

885 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 Small

Morning class Small · 2025
#	Company	Profile	Score	Change
1	Akademiet Toppidrettsgymnas Ålesund AS	Leader	90	+4
2	Heleneragnhild AS	Leader	90	+7
3	Solør Montessori Barnehage AS	Leader	90	+9
4	Akademiet Vgs Sandvika AS	Leader	88	+3
5	Studiesenteret Midt-Troms AS	Leader	87	+26
6	Mtk Skolen AS	Leader	86	+12
7	Ask Safety AS	Leader	85	−1
8	Simsea Real Operations AS	Leader	84	−1
9	Hafjell Skiskole AS	Leader	82	+21
10	Akademiet Realfagsskole Drammen AS	Leader	82	−1
11	Jobloop AS	Leader	82	−1
12	Ansgar Bibelskole AS	Leader	81	+27
13	Debio Marked AS	Leader	80	+6
14	Discover North AS	Leader	79	−9
15	Norges Toppidrettsgymnas Ungdomsskole Lillehammer AS	Leader	79	+22
16	Blueplanet Academy AS	Leader	79	+3
17	Norlights Montessoriskole Stavanger AS	Leader	79	−10
18	Akademiet Sandnes AS	Leader	78	0
19	Nordborg Skoler AS	Leader	78	+33
20	Akademiet Realfagsskole Oslo AS	Leader	77	−1
21	Lukas Videregående Skole AS	Leader	76	+7
22	Bærum Trafikkskole AS	Leader	76	+5
23	Wave Kompetanse AS	Leader	76	+72
24	Hovden Skigymnas AS	Leader	74	+17
25	Knarvik Barnehage AS	Leader	74	+7
26	Strongbody AS	Leader	74	−9
27	Lundgaardsløkka Barnehage AS	Leader	73	+7
28	Mobarn Sylte og Malme Barnehage AS	Leader	73	−8
29	Ørnestein Gårdsbarnehage AS	Leader	73	+6
30	Høyskolen for Yrkesfag AS	Leader	73	−20
31	Invia AS	Leader	73	+13
32	Store Brevik Barnehage AS	Leader	73	+43
33	Zafe AS	Leader	73	−13
34	Wang Ung Sandnes AS	Leader	72	+3
35	Norges Toppidrettsgymnas Ungdomsskole Tromsø AS	Leader	72	+19
36	Wang Ung Stavanger AS	Leader	72	+10
37	Hauge Videregående Skole AS	Leader	72	−10
38	Norges Toppidrettsgymnas Ungdomsskole Asker AS	Leader	72	+19
39	Flightsafety International Norway AS	Leader	71	−7
40	Stq AS	Leader	71	+8
41	Telemark Toppidrett Ungdomsskole Skien AS	Leader	71	+16
42	Ørarampen Barnehage AS	Leader	71	+11
43	Skap Kreativ Folkehøyskole AS	Leader	70	+26
44	Norges Toppidrettsgymnas Kongsvinger AS	Steward	70	+2
45	Free Motion Majorstua AS	Leader	69	+13
46	Guttas Campus AS	Leader	69	−13
47	Opdøl Montessoriskole AS	Leader	69	0
48	Norges Toppidrettsgymnas Ungdomsskole Kongsvinger AS	Steward	68	+5
49	Norlights International School Oslo AS	Steward	68	−22
50	Norges Realfagsungdomsskole Sandvika AS	Sprinter	68	+13

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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

Wave Kompetanse AS
From 2024 to 2025: the operating margin rose from −16.8% to 34.2% and the equity ratio rose from −5.1% to 65.5%.
+72
Energy Innovation AS
From 2024 to 2025: the operating margin fell from 14.4% to −26.8% and went from a profit to a loss before tax.
−46
Store Brevik Barnehage AS
From 2024 to 2025: the equity ratio rose from 2.1% to 58.4% and the operating margin rose from 0.0% to 10.3%.
+43
Steingjerdet Barnehage AS
From 2024 to 2025: the operating margin rose from −11.1% to 33.9% and went from a loss to a profit before tax.
+43

Summary analysis

Undervisning, Morning class Medium: 63 ranked companies in fiscal year 2025.

Best in the sector: Calian Europe AS (score 87, operating margin 25.4%, equity ratio 70.6%). Akademiet Oslo AS (score 85, operating margin 11.9%, equity ratio 82.1%). Gokstad Akademiet AS (score 82, operating margin 11.8%, equity ratio 71.3%).

Weakest in the sector: Espira Gruppen AS (score 14, operating margin −8.8%, equity ratio 5.8%). Fagskolen Kristiania AS (score 17, operating margin −5.9%, equity ratio 20.4%). Lovisenberg Diakonale Høgskole AS (score 18, operating margin −7.0%, equity ratio 26.5%).

Worth a closer look

The median operating margin rose from 2.8% in 2024 to 4.3% in 2025 (1.5 percentage points).
The median equity ratio rose from 39.1% in 2024 to 43.1% in 2025 (4.1 percentage points).
The median revenue growth fell from 8.5% in 2024 to 8.5% in 2025 (0.1 percentage points).
The share with a loss went from 19% in 2024 to 14% 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 4% of the sector's revenue. Combined profit before tax for the 283 ranked companies: 286 MNOK.

Highest revenue

Ask Safety AS 49 MNOK
RS Sjøredningsskolen AS 49 MNOK
Sygna Vgs AS 49 MNOK
Blå Kors Videregående Skole Øvrebø AS 48 MNOK
Vågsbygd Fus Barnehage AS 48 MNOK

Operating revenue.

Highest operating margin

Heleneragnhild AS 45.9%
Ask Safety AS 35.3%
Mtk Skolen AS 35.1%
Wave Kompetanse AS 34.2%
Steingjerdet Barnehage AS 33.9%

Operating result divided by operating revenue.

Largest profit

Ask Safety AS 16 MNOK
Maersk Training Norway AS 15 MNOK
Norwegian Competence Centre Helicopter AS 13 MNOK
Nordborg Skoler AS 12 MNOK
Arcos AS 7 MNOK

Profit before tax.

Largest loss

VIDEOCATION.NO AS −20 MNOK
Nausthaugen Barnehage AS −4 MNOK
Energy Innovation AS −4 MNOK
Astero Kompetanse AS −4 MNOK
Briskeby Videregående Skole AS −4 MNOK

Profit before tax, the largest negative.

Most solid

Flightsafety International Norway AS 92.1%
Akademiet Toppidrettsgymnas Ålesund AS 88.7%
Stamina Kurssenter AS 88.5%
Høyskolen for Yrkesfag AS 87.1%
Langedrag Naturpark AS 87.0%

Equity ratio: equity divided by total assets.

Fastest growth

Jobloop AS +79.4%
Østmarkskollen Fus Barnehage AS +76.1%
Keiron AS +68.4%
Akademiet Vgs Bergen AS +48.6%
Nordborg Skoler AS +35.6%

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

Largest revenue decline

Norasonde Karriere AS −35.7%
Energy Innovation AS −30.3%
Active Education AS −23.0%
Transportkompetanse Haugesund AS −14.6%
Stamina Kurssenter AS −12.1%

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

Biggest climbers

Wave Kompetanse AS +72.0 points
Steingjerdet Barnehage AS +43.5 points
Store Brevik Barnehage AS +42.6 points
Tjenna Barnehage AS +35.1 points
Nordborg Skoler AS +32.4 points

Change in index points from the year before.

Biggest fallers

Energy Innovation AS −46.6 points
Sandhåland Musikk og Gårdsbarnehage AS −40.3 points
Kompetansebedriften AS −38.9 points
Ifokus Kompetanse AS −35.4 points
Dolstad Barnehage AS −33.0 points

Change in index points from the year before.

Most employees

Employees according to the Central Coordinating Register.

Highest revenue per employee

Gostudy AS 9.2 MNOK
Flightsafety International Norway AS 7.7 MNOK
Norwegian Competence Centre Helicopter AS 6.8 MNOK
Active Education AS 4.3 MNOK
Strongbody AS 4.1 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.

Quadrant analysis

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).

Wave Kompetanse AS profitability 3 → 99, solidity 0 → 87
Akademiet Vgs Bergen AS profitability 3 → 96, solidity 0 → 0
Steingjerdet Barnehage AS profitability 9 → 96, solidity 0 → 0
Store Brevik Barnehage AS profitability 31 → 90, solidity 20 → 82
Norasonde Læringssenter AS profitability 94 → 15, solidity 62 → 85

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)
Wave Kompetanse AS	Lion	99	87	3 / 0
Heleneragnhild AS	Lion	99	97	100 / 96
Norwegian Competence Centre Helicopter AS	Cheetah	99	25	99 / 27
Extek AS	Cheetah	99	19	100 / 30
Ask Safety AS	Lion	98	89	94 / 92
Ansgar Bibelskole AS	Lion	97	81	–
Akademiet Vgs Bergen AS	Cheetah	96	0	3 / 0
Nordborg Skoler AS	Lion	96	63	60 / 38
Steingjerdet Barnehage AS	Cheetah	96	0	9 / 0
Jobloop AS	Lion	95	74	87 / 82
Mtk Skolen AS	Lion	95	88	–
Akademiet Vgs Sandvika AS	Lion	94	90	–
Solør Montessori Barnehage AS	Lion	93	94	–
Hafjell Skiskole AS	Lion	93	78	–
Keiron AS	Cheetah	93	11	29 / 24
Blueplanet Academy AS	Lion	92	71	84 / 56
Zafe AS	Lion	91	90	98 / 87
Arcos AS	Lion	91	51	95 / 74
Simsea Real Operations AS	Lion	91	84	93 / 94
Store Brevik Barnehage AS	Lion	90	82	31 / 20
A1 Trafikkskole AS	Cheetah	90	11	93 / 21
Valle Hovin Idrettsbarnehage AS	Lion	89	54	87 / 68
Bekkjarvik Maritime Fus Barnehage AS	Cheetah	89	50	82 / 46
Stq AS	Lion	89	72	–
Akademiet Toppidrettsgymnas Ålesund AS	Lion	89	100	–
Studiesenteret Midt-Troms AS	Lion	88	96	40 / 94
Invia AS	Lion	88	57	–
Espira Halsnøy Kloster AS	Lion	87	60	76 / 51
Bærum Trafikkskole AS	Lion	87	72	94 / 83
Alfheim Barnehage AS	Cheetah	86	13	–
Vågen Trafikkskole AS	Cheetah	85	37	–
Espira Evje AS	Cheetah	85	17	91 / 26
Norges Toppidrettsgymnas Ungdomsskole Lillehammer AS	Lion	85	93	18 / 91
Troll Lia Barnehage AS	Lion	84	52	76 / 35
Skap Kreativ Folkehøyskole AS	Lion	84	62	58 / 40
Mentornorge AS	Cheetah	84	9	88 / 20
Espira Tau AS	Cheetah	83	35	48 / 55
Storeper Barnehage AS	Cheetah	83	48	55 / 52
Hovden Skigymnas AS	Lion	83	80	49 / 84
ASKER & Bærum Trafikkskole AS	Lion	82	60	79 / 59
Drive Trafikkskole AS	Cheetah	82	42	86 / 24
Sande Trafikkskole AS	Cheetah	82	31	31 / 51
Reidars Trafikkskole AS	Cheetah	82	23	65 / 33
Fadnes Holding og Invest AS	Cheetah	82	34	85 / 31
Espira Grefsen AS	Cheetah	81	11	86 / 21
Sygna Vgs AS	Cheetah	81	45	76 / 34
Tjenna Barnehage AS	Lion	80	57	11 / 48
Ole Brumm Barnehage Aurskog AS	Lion	80	52	32 / 30
Hauge Videregående Skole AS	Lion	79	71	87 / 80
Høyskolen for Yrkesfag AS	Lion	79	99	97 / 98

The sector in numbers

Summary · fiscal year 2025 · Morning class Small

The sector's median operating margin is 4.7%. 31 of 288 companies have negative equity. The median equity ratio is 27.5%.

Companies with accounts288

Total revenue6,516 MNOK

Median operating margin4.7%

Median equity ratio27.5%

Share with a loss22%

Share with negative equity11%

All figures are for fiscal year 2025. Ranked: 285 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 263 companies ranked in both years.

Climbers

320Wave Kompetanse ASfrom rank 343 to 2376
250Store Brevik Barnehage ASfrom rank 282 to 3273
213Tjenna Barnehage ASfrom rank 289 to 7662
199Kristen Friskole Klippen ASfrom rank 283 to 8460
193Nordborg Skoler ASfrom rank 212 to 1978

Fallers

210Energy Innovation ASfrom rank 53 to 26323
166Dolstad Barnehage ASfrom rank 67 to 23333
151BØ Barnehage ASfrom rank 70 to 22135
148Tromsø Tungbilopplæring ASfrom rank 29 to 17744
137Frydensborg Gård Barnehage ASfrom rank 108 to 24529

Awards · 2025 · Morning class Small

Most profitableHeleneragnhild AS45.9%

Fastest growthSomsagt AS235.3%

Strongest balance sheetFlightsafety International Norway AS92.1%

Largest revenueAsk Safety AS49 MNOK

Highest revenue per employeeGostudy AS9.2 MNOK

Needs attention · 2025 · Morning class Small

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

criticalVågsbygd Fus Barnehage ASNegative equity · Current ratio below 1 (0.98) · Loss before tax
criticalKvitsund Gymnas ASNegative equity · Current ratio below 1 (0.81) · Loss before tax
criticalNymarkbakken Fus Barnehage ASNegative equity · Current ratio below 1 (0.33) · Loss before tax
criticalSauafjellet Fus Barnehage ASNegative equity · Current ratio below 1 (0.67) · Loss before tax
criticalØstmarkskollen Fus Barnehage ASNegative equity · Current ratio below 1 (0.56) · Loss before tax
criticalPrestvannet Studentbarnehage ASNegative equity · Current ratio below 1 (0.81) · Loss before tax
criticalLunderåsen Fus Barnehage ASNegative equity · Current ratio below 1 (0.81) · Loss before tax
criticalMøllefossen Barnehage ASNegative equity · Current ratio below 1 (0.76) · Loss before tax
criticalHernes Fus Barnehage ASNegative equity · Current ratio below 1 (0.52) · Loss before tax
criticalValvatna Fus Barnehage ASNegative equity · Current ratio below 1 (0.78) · Loss before tax
criticalMesterakademiet Norges Mesterakademi ASNegative equity · Current ratio below 1 (0.21) · Loss before tax
criticalØstfold Trafikkskole ASNegative equity · Current ratio below 1 (0.82) · Loss before tax
criticalSandhåland Musikk og Gårdsbarnehage ASNegative equity · Current ratio below 1 (0.58) · Loss before tax
criticalWay ASNegative equity · Current ratio below 1 (0.25) · Loss before tax
criticalPromethevs ASNegative equity · Current ratio below 1 (0.98) · Loss before tax

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

Company	Operating margin	Equity ratio	Revenue
Akademiet Toppidrettsgymnas Ålesund AS	18.8%	88.7%	14 MNOK
Heleneragnhild AS	45.9%	83.6%	12 MNOK
Solør Montessori Barnehage AS	24.8%	78.5%	10 MNOK
Akademiet Vgs Sandvika AS	14.8%	70.2%	13 MNOK
Studiesenteret Midt-Troms AS	11.7%	83.3%	17 MNOK
Mtk Skolen AS	35.1%	67.6%	11 MNOK
Ask Safety AS	35.3%	68.6%	49 MNOK
Simsea Real Operations AS	15.0%	59.9%	32 MNOK
Hafjell Skiskole AS	29.1%	55.0%	10 MNOK
Akademiet Realfagsskole Drammen AS	11.5%	86.4%	26 MNOK
Jobloop AS	16.4%	50.5%	41 MNOK
Ansgar Bibelskole AS	20.2%	58.1%	12 MNOK
Debio Marked AS	7.9%	76.2%	14 MNOK
Discover North AS	5.6%	76.7%	17 MNOK
Norges Toppidrettsgymnas Ungdomsskole Lillehammer AS	11.0%	76.0%	17 MNOK
Blueplanet Academy AS	13.9%	48.7%	17 MNOK
Norlights Montessoriskole Stavanger AS	10.4%	85.2%	18 MNOK
Akademiet Sandnes AS	8.0%	80.0%	39 MNOK
Nordborg Skoler AS	27.8%	41.0%	48 MNOK
Akademiet Realfagsskole Oslo AS	10.0%	77.6%	32 MNOK
Lukas Videregående Skole AS	6.1%	74.7%	31 MNOK
Bærum Trafikkskole AS	14.7%	49.6%	16 MNOK
Wave Kompetanse AS	34.2%	65.5%	19 MNOK
Hovden Skigymnas AS	10.4%	56.5%	16 MNOK
Knarvik Barnehage AS	8.3%	51.3%	32 MNOK
Strongbody AS	7.6%	82.3%	29 MNOK
Lundgaardsløkka Barnehage AS	8.1%	71.8%	15 MNOK
Mobarn Sylte og Malme Barnehage AS	5.9%	58.2%	16 MNOK
Ørnestein Gårdsbarnehage AS	6.7%	62.6%	17 MNOK
Høyskolen for Yrkesfag AS	12.0%	87.1%	16 MNOK
Invia AS	11.3%	35.4%	12 MNOK
Store Brevik Barnehage AS	10.3%	58.4%	14 MNOK
Zafe AS	13.7%	71.7%	12 MNOK
Wang Ung Sandnes AS	5.1%	67.5%	28 MNOK
Norges Toppidrettsgymnas Ungdomsskole Tromsø AS	6.0%	68.4%	17 MNOK
Wang Ung Stavanger AS	5.9%	59.3%	26 MNOK
Hauge Videregående Skole AS	16.4%	48.6%	30 MNOK
Norges Toppidrettsgymnas Ungdomsskole Asker AS	4.9%	53.9%	28 MNOK
Flightsafety International Norway AS	7.2%	92.1%	39 MNOK
Stq AS	11.1%	50.2%	12 MNOK
Telemark Toppidrett Ungdomsskole Skien AS	3.7%	63.1%	18 MNOK
Ørarampen Barnehage AS	6.6%	57.2%	10 MNOK
Skap Kreativ Folkehøyskole AS	8.3%	39.5%	23 MNOK
Norges Toppidrettsgymnas Kongsvinger AS	3.6%	68.6%	37 MNOK
Free Motion Majorstua AS	5.8%	66.1%	12 MNOK
Guttas Campus AS	5.8%	74.4%	23 MNOK
Opdøl Montessoriskole AS	7.9%	78.6%	21 MNOK
Norges Toppidrettsgymnas Ungdomsskole Kongsvinger AS	2.5%	66.3%	17 MNOK
Norlights International School Oslo AS	3.8%	78.9%	47 MNOK
Norges Realfagsungdomsskole Sandvika AS	15.7%	20.5%	30 MNOK
Hurdal Verk Folkehøgskole AS	4.9%	84.4%	35 MNOK
Møre Barne- og Ungdomsskule Skodje AS	6.4%	46.0%	26 MNOK
Bekkjarvik Maritime Fus Barnehage AS	14.8%	29.7%	31 MNOK
Eltoft Montessoriskole AS	6.7%	42.2%	14 MNOK
TROLLSTUA, Frelsesarmeens Barnehage i Asker AS	5.9%	55.2%	15 MNOK
Arcos AS	17.6%	30.4%	38 MNOK
Heimtun Barnehage AS	7.2%	62.4%	13 MNOK
Voll Skole AS	5.3%	75.1%	13 MNOK
Stamina Kurssenter AS	5.6%	88.5%	21 MNOK
Ole Brumm Barnehage Aurskog AS	6.7%	30.9%	15 MNOK
Norwegian Competence Centre Helicopter AS	27.1%	9.5%	47 MNOK
Valle Hovin Idrettsbarnehage AS	13.1%	32.1%	32 MNOK
Theas Bærum AS	11.5%	25.4%	27 MNOK
Tønsbergkirkenes Barnehager AS	4.5%	50.3%	40 MNOK
Mosjøen Fus Barnehage AS	7.0%	41.4%	17 MNOK
Norsk Fotofagskole AS	7.1%	41.8%	11 MNOK
Majorstuen Trafikkskole AS	10.3%	34.1%	22 MNOK
Sit Dragvoll Studentbarnehage AS	4.5%	52.2%	18 MNOK
ASKER & Bærum Trafikkskole AS	10.7%	37.1%	20 MNOK
Langedrag Naturpark AS	7.4%	87.0%	47 MNOK
Active Education AS	10.3%	60.4%	21 MNOK
Barnas Kulturhage AS	5.3%	43.6%	32 MNOK
Espira Halsnøy Kloster AS	9.1%	37.7%	28 MNOK
Childrens International School Sarpsborg AS	6.8%	36.0%	45 MNOK
Tindfoten Fus Barnehage AS	6.3%	45.9%	20 MNOK
Tjenna Barnehage AS	8.1%	35.3%	13 MNOK
Sirius Act AS	1.1%	50.3%	21 MNOK
Rødde Folkehøgskole AS	−0.7%	70.6%	21 MNOK
Storeper Barnehage AS	7.8%	28.9%	29 MNOK
Velle Kjeldås Barnehage AS	4.1%	51.9%	25 MNOK
Nystrand Barnehage AS	3.0%	50.3%	22 MNOK
Møllerdammen Naturbarnehage AS	7.4%	39.1%	16 MNOK
Askeladden Barnehage AS	0.7%	62.7%	19 MNOK
Kristen Friskole Klippen AS	4.2%	34.1%	32 MNOK
Bjoarvik Trafikkskole AS	7.6%	54.8%	15 MNOK
Sygna Vgs AS	10.4%	26.2%	49 MNOK
Montessoriskolen Morgan AS	3.5%	61.2%	12 MNOK
Extek AS	33.7%	7.4%	13 MNOK
Norges Toppidrettsgymnas Bodø AS	2.1%	48.3%	22 MNOK
Vågen Trafikkskole AS	11.3%	19.3%	13 MNOK
Djupmyra Fus Barnehage AS	6.6%	37.0%	25 MNOK
Atlas Kompetanse AS	4.4%	55.7%	10 MNOK
Norges Toppidrettsgymnas Ungdomsskole Bodø AS	5.4%	42.8%	16 MNOK
Øverkvern Fus Barnehage AS	4.5%	46.4%	38 MNOK
Childrens International School Moss AS	2.7%	53.9%	45 MNOK
Drottningborg Ungdomsskole AS	2.0%	36.9%	33 MNOK
Spir Oslo AS	7.7%	31.1%	33 MNOK
Troll Lia Barnehage AS	7.8%	30.9%	23 MNOK
Eventus Tiriltoppen Barnehage AS	9.1%	36.8%	24 MNOK
Troll-Myra Barnehage AS	5.4%	27.0%	23 MNOK
Puttara Fus Barnehage AS	5.9%	38.2%	38 MNOK
Trondheim Idrettsungdomsskole AS	1.8%	42.7%	18 MNOK
SKAGERAK INTERNATIONAL SCHOOL, Tønsberg AS	3.0%	24.7%	36 MNOK
BARKHALD & Pedersen Trafikkskole AS	3.1%	59.8%	19 MNOK
Fadnes Holding og Invest AS	18.7%	16.2%	11 MNOK
Espira Tau AS	7.5%	17.2%	26 MNOK
Tveterjordet Fus Barnehage AS	16.2%	6.6%	21 MNOK
Marihøna Gårds- og Friluftsbarnehage AS	7.7%	26.3%	34 MNOK
Blå Kors Videregående Skole Øvrebø AS	5.9%	38.2%	48 MNOK
Sørbyen Barnehage AS	4.7%	29.1%	17 MNOK
Bentz Trafikkskole AS	6.9%	33.3%	15 MNOK
Neverdal Enspire Skole AS	7.7%	26.0%	27 MNOK
Keiron AS	11.7%	2.3%	17 MNOK
Fridheim Barnehage AS	1.5%	49.3%	18 MNOK
Skoglyveien Barnehage AS	8.6%	9.2%	14 MNOK
Steps Dansestudio AS	7.5%	30.6%	17 MNOK
A2 Holding AS	9.5%	15.5%	30 MNOK
Sande Trafikkskole AS	11.1%	14.0%	16 MNOK
Wang Toppidrett Stavanger AS	−1.8%	55.4%	38 MNOK
Kulturbarna AS	5.6%	27.5%	15 MNOK
Forus Friskole AS	9.0%	20.4%	42 MNOK
Bjørum Barnehage AS	7.2%	8.7%	15 MNOK
Alfheim Barnehage AS	9.1%	3.9%	11 MNOK
Drive Trafikkskole AS	7.9%	24.1%	14 MNOK
Sammen Nerigard Barnehage AS	−0.6%	58.5%	14 MNOK
Tryggheim Strand AS	16.7%	4.0%	27 MNOK
Fjordveien Barnehage AS	6.5%	10.8%	39 MNOK
Vassenga Fus Barnehage AS	5.5%	26.4%	20 MNOK
Eventus Midtun Barnehage AS	7.3%	39.9%	23 MNOK
Maersk Training Norway AS	−9.2%	81.4%	27 MNOK
Strandvik Vekst AS	2.7%	41.7%	12 MNOK
Reidars Trafikkskole AS	10.7%	8.9%	13 MNOK
Oasen Skole Mandal AS	0.0%	48.3%	28 MNOK
Hoppensprett Akademiet Brårud AS	5.7%	30.4%	22 MNOK
Nordtvet Gård Barnehage AS	11.1%	9.3%	21 MNOK
Medvind Personal AS	5.3%	5.1%	11 MNOK
Byfjordparken Barnehage AS	9.4%	7.5%	28 MNOK
Espira Tastarustå AS	14.3%	1.1%	25 MNOK
Kongsveien Barnehage AS	1.2%	43.4%	26 MNOK
Åsane Trafikkskole AS	7.2%	29.2%	23 MNOK
Akademiet Vgs Bergen AS	16.2%	−292.6%	24 MNOK
Den Nye Trafikkskolen AS	1.2%	24.3%	12 MNOK
Sandnes Friskole AS	4.8%	18.9%	36 MNOK
Fjellhaug Internasjonale Høgskole AS	−5.9%	83.7%	27 MNOK
Childrens International School Fredrikstad AS	0.6%	51.7%	40 MNOK
Front Leadership AS	−2.5%	52.8%	27 MNOK
Alvehetta Fus Barnehage AS	4.8%	7.7%	16 MNOK
Måltrosten Barnehage AS	8.0%	27.4%	18 MNOK
Ringerike Montessori AS	2.0%	56.0%	18 MNOK
Eikely Barnehage AS	3.7%	29.2%	28 MNOK
A1 Trafikkskole AS	12.8%	2.3%	12 MNOK
Steingjerdet Barnehage AS	33.9%	−0.4%	13 MNOK
Espira Evje AS	7.7%	5.6%	44 MNOK
SPIRE & Gro Melkeveien Barnehage AS	1.4%	30.1%	21 MNOK
Norasonde Læringssenter AS	−1.0%	62.1%	20 MNOK
Askeladden Barnehage Borg Albert Moeskausvei AS	0.2%	31.6%	19 MNOK
Stålverkskroken Barnehage AS	2.8%	22.2%	20 MNOK
Lundåsen Barnehage AS	4.8%	15.3%	17 MNOK
Oasen Skole Vågsbygd AS	6.1%	−110.4%	17 MNOK
Villanger Trafikkskole AS	6.0%	30.9%	22 MNOK
Ragnas Hage AS	1.1%	29.3%	30 MNOK
A-Team Trafikkskole AS	6.2%	4.2%	11 MNOK
Espira Marienfryd AS	9.8%	0.9%	29 MNOK
Espira Grefsen AS	19.1%	2.5%	41 MNOK
Norheim Vgs AS	10.0%	2.7%	18 MNOK
Skeisbotnen Barnehage AS	1.9%	43.6%	21 MNOK
Preg Barnehager Tau AS	3.1%	44.8%	19 MNOK
Espira Eikenga AS	1.0%	24.5%	19 MNOK
Kulås Barnehage AS	−2.0%	42.3%	17 MNOK
Norsk Fagutdanning AS	0.0%	36.9%	15 MNOK
Christiania Barnehave Bjørndal AS	5.0%	7.6%	13 MNOK
Hjertehagen AS	14.9%	0.8%	15 MNOK
Hoppenspretthallen Barnehage AS	9.5%	10.1%	28 MNOK
Kongshaug Musikkgymnas AS	3.2%	32.5%	42 MNOK
Espira Romholt AS	3.4%	13.7%	18 MNOK
Saman Sogndal Studentbarnehage AS	−9.4%	73.9%	11 MNOK
Tromsø Tungbilopplæring AS	5.7%	12.2%	15 MNOK
Terje Solbakken Trafikkskole AS	5.1%	4.7%	35 MNOK
Kreativ Barnehage Hove AS	9.0%	9.4%	21 MNOK
Christiania Barnehave Høybråten AS	2.5%	18.1%	15 MNOK
Espira Baggerødbanen AS	14.1%	0.7%	41 MNOK
Sammen Jekteviken Barnehage AS	1.4%	27.0%	26 MNOK
Prestagardskogen Fus Barnehage AS	1.9%	10.7%	13 MNOK
Plus-Skolen AS	−11.0%	57.3%	12 MNOK
Sørhåland Barneskole AS	2.1%	33.1%	21 MNOK
Fager Skog Fus Barnehage AS	1.3%	18.4%	19 MNOK
Bryn Trafikkskole AS	4.6%	6.9%	20 MNOK
Flekkenga Natur- og Gårdsbarnehage AS	3.4%	22.6%	26 MNOK
Reppen Barnehage AS	−4.4%	50.9%	15 MNOK
Espira Lindesnes AS	7.9%	1.7%	21 MNOK
Saarela Barnehage AS	−16.1%	56.4%	16 MNOK
Hornienga Fus Barnehage AS	0.4%	16.1%	46 MNOK
Hamar Gårdsbarnehage AS	2.1%	8.4%	10 MNOK
Sandnes International School AS	−10.9%	41.1%	28 MNOK
Ringnes Park Fus Barnehage AS	0.9%	9.7%	19 MNOK
Exsto Offshoreutdanning AS	−0.2%	14.8%	34 MNOK
Øverland Barnehage AS	0.2%	38.3%	13 MNOK
Blåklokka Barnehage AS	4.7%	−1.9%	22 MNOK
Hokus Pokus Kristiansand AS	2.1%	22.6%	27 MNOK
Nausthaugen Barnehage AS	−16.1%	45.6%	16 MNOK
Espira Skjeraberget AS	0.8%	8.1%	18 MNOK
Mentornorge AS	10.3%	1.9%	36 MNOK
Andromeda Barnehage AS	0.9%	9.8%	13 MNOK
BYGGOPP INNLANDET - Samarbeidsorgan for Bygg- og Anleggsteknikk AS	0.9%	13.5%	12 MNOK
Espira Eikenøtta Naturbarnehage AS	0.4%	13.1%	14 MNOK
Hoppensprett Akademiet Vgs Jessheim AS	4.1%	−49.1%	25 MNOK
Nordreisa Menighetsbarnehage AS	−5.5%	27.7%	13 MNOK
Løkka Barnehage Sandefjord AS	0.8%	16.8%	13 MNOK
Kvs-Bygland AS	3.3%	9.0%	30 MNOK
Espira Solknatten AS	0.7%	15.0%	41 MNOK
Høvleriet Barnehage AS	5.0%	2.0%	25 MNOK
Ansgar Høyskole AS	−4.3%	36.5%	42 MNOK
Preg Barnehager Askøy AS	0.0%	30.2%	14 MNOK
Preg Barnehager Toftøy AS	1.5%	8.7%	28 MNOK
Hokus Pokus Grimstad AS	3.3%	9.7%	27 MNOK
Myren Gårdsbarnehage AS	3.8%	7.0%	21 MNOK
Espira Hollund AS	6.4%	1.3%	19 MNOK
Haugeløkka Barnehage AS	−0.4%	44.6%	15 MNOK
Norasonde Karriere AS	−12.0%	52.5%	25 MNOK
Espira Åbol AS	1.2%	16.7%	37 MNOK
BØ Barnehage AS	−0.8%	18.8%	14 MNOK
Nedre Auren Gårdsbarnehage AS	1.8%	6.7%	21 MNOK
Skinsnesheia Barnehage AS	2.3%	10.2%	31 MNOK
Sit Moholt Studentbarnehage AS	−0.5%	25.1%	47 MNOK
Trollhaugen Barnehage AS	4.6%	2.6%	31 MNOK
Espira Taremareby AS	2.5%	5.3%	16 MNOK
Matilda AS	−4.8%	7.4%	13 MNOK
Limpi AS	6.7%	−9.9%	17 MNOK
Delta Aktivt AS	0.9%	−1.8%	11 MNOK
Hoppensprett Stokmarknes AS	4.4%	18.3%	20 MNOK
Eventus Kvernslåtten Barnehage AS	3.7%	17.4%	27 MNOK
Somsagt AS	−7.0%	6.4%	10 MNOK
Dolstad Barnehage AS	0.3%	20.7%	12 MNOK
Drs AS	4.4%	5.8%	31 MNOK
Holte Academy AS	−6.8%	39.8%	19 MNOK
Gostudy AS	5.0%	−82.6%	46 MNOK
Villamoen Barnehage AS	0.8%	10.8%	19 MNOK
Eventus Borgafjell Barnehage AS	2.8%	1.7%	30 MNOK
Preg Barnehager Straume AS	1.0%	22.5%	18 MNOK
Christiania Barnehave Nordstrand AS	−3.6%	19.8%	13 MNOK
Eventus Sartorlunden AS	6.3%	12.2%	22 MNOK
RS Sjøredningsskolen AS	−6.2%	14.6%	49 MNOK
G-Tec AS	0.5%	3.5%	37 MNOK
Espira Kuventræ AS	−3.3%	23.0%	27 MNOK
Frydensborg Gård Barnehage AS	−0.3%	21.0%	10 MNOK
Førerkort Experten AS	4.7%	0.0%	21 MNOK
Hoppensprett Hurdal Barnehage AS	2.5%	0.8%	10 MNOK
Kausvol Gardsbarnehage AS	2.9%	5.0%	19 MNOK
Kvitsund Gymnas AS	2.6%	−1.3%	39 MNOK
Kristiansand Folkehøgskole AS	0.3%	1.9%	34 MNOK
Aski Barnehage AS	−3.3%	20.1%	26 MNOK
Øyno Fus Barnehage AS	2.3%	−73.6%	11 MNOK
Barnehage 1 AS	6.5%	−15.2%	22 MNOK
IKT-Huset AS	−2.0%	10.0%	13 MNOK
Tuft Transportskole AS	−4.5%	4.8%	18 MNOK
Mobarn Øverland Barnehage AS	6.1%	3.7%	24 MNOK
Kiellandskogen Fus Barnehage AS	0.3%	−14.1%	15 MNOK
Prestvannet Studentbarnehage AS	−1.6%	−23.1%	19 MNOK
Østfold Trafikkskole AS	−0.3%	−17.2%	12 MNOK
Promethevs AS	−0.2%	−0.1%	11 MNOK
Åsebøen Fus Barnehage AS	0.4%	−6.5%	20 MNOK
Østmarkskollen Fus Barnehage AS	−0.4%	−45.2%	20 MNOK
Energy Innovation AS	−26.8%	34.7%	14 MNOK
Briskeby Videregående Skole AS	−7.9%	11.1%	42 MNOK
Vikemarka Barnehage AS	1.9%	0.5%	15 MNOK
Transportkompetanse Haugesund AS	−10.2%	32.0%	41 MNOK
Ifokus Kompetanse AS	−12.0%	24.4%	24 MNOK
VIDEOCATION.NO AS	−63.3%	34.5%	29 MNOK
Møllefossen Barnehage AS	−2.2%	−5.7%	15 MNOK
Kompetansebedriften AS	−7.4%	7.5%	19 MNOK
Ekt Rideskole og Husdyrpark AS	−1.2%	3.1%	13 MNOK
Tussilago Barnehage Stjørdal AS	−10.0%	−283.5%	10 MNOK
Udnes Naturbarnehage AS	−3.7%	−3.8%	11 MNOK
Takt og Tone AS	0.4%	−47.2%	15 MNOK
Lunderåsen Fus Barnehage AS	−6.1%	−18.4%	18 MNOK
Vågsbygd Fus Barnehage AS	−4.7%	−4.3%	48 MNOK
Teb Eiendom AS	−7.6%	2.0%	23 MNOK
Astero Kompetanse AS	−12.3%	4.0%	32 MNOK
Rødhette Fus Barnehage AS	−6.3%	−132.4%	11 MNOK
Valvatna Fus Barnehage AS	−4.4%	−39.6%	15 MNOK
Hernes Fus Barnehage AS	−3.1%	−78.4%	15 MNOK
Sauafjellet Fus Barnehage AS	−6.4%	−29.8%	21 MNOK
Sandhåland Musikk og Gårdsbarnehage AS	−3.4%	−1.4%	12 MNOK
Nymarkbakken Fus Barnehage AS	−10.2%	−110.4%	27 MNOK
Mesterakademiet Norges Mesterakademi AS	−7.9%	−348.4%	14 MNOK

Holding and investment companies · 2025

40 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: 15 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	S.A.M. Holding AS	83	96.0%	95.3%	24.78	59 MNOK
2	Petter Myhre Invest AS	74	99.6%	5.5%	59.99	12 MNOK
3	Ween Kapital AS	73	93.2%	48.4%	14.49	67 MNOK
4	Infinitum Holding AS	64	97.7%	5.1%	31.85	143 MNOK
5	Btv Invest AS	60	87.7%	21.2%	2.04	14 MNOK
6	Nathan Holding AS	60	86.9%	6.2%	233.44	37 MNOK
7	Lfs Holding AS	56	99.6%	0.5%	225.71	13 MNOK
8	Steinbråten Holding AS	49	79.8%	18.2%	0.73	10 MNOK
9	Vid Holding AS	44	100.0%	0.0%	1.83	35 MNOK
10	Oasen Skole Holding AS	43	51.6%	10.6%	2.56	34 MNOK
11	Isolde Invest AS	41	94.8%	1.4%	5.53	92 MNOK
12	Msm Invest AS	37	28.9%	8.7%	7.20	59 MNOK
13	Oasen Holding Søgne AS	33	75.8%	4.0%	2.35	20 MNOK
14	Sfr Holding AS	19	55.4%	1.6%	0.41	1,029 MNOK
15	Sgd Holding AS	14	49.9%	1.6%	0.17	12 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))

Latest value: 104.0 (2026M09)

Consumer price index rose 3.0% in 2025; the sector's median operating margin rose 1.2 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	−5.7%	−3.4%	3.1%	2.8%	3.9%	–

Source: SSB (14710, CC BY 4.0). Source · fetched 2 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 rose 1.2 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	−5.7%	−3.4%	3.1%	2.8%	3.9%	–

Source: Norges Bank (IR, NLOD 2.0). Source · fetched 2 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)

All bankruptcies and liquidations in the sector

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