Hellesund Utvikling AS
ASActiveOrg 919222670Dalaneveien 31, 3772 KragerøDevelopment of building projects· NACE 6812Est. 2017 · 9 years old0 employees
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Overview
Hellesund Utvikling AS is a Norwegian AS based in Kragerø, operating in the Development of building projects sector. Incorporated in 2017, the company has 0 employees and reported revenue of NOK 0 in its latest annual filing.
Revenue 2025
0M NOK
EBITDA margin
—
Net profit 2025
-0M NOK
+11% vs 2024
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
1.7 %
Very weakAmong the 20% lowest rated companies in the industry
20212025
Liquidity ratioCurrent assets ÷ Short-term debt
0.1×
Very weakAmong the 10% lowest rated companies in the industry
20212025
Return on assets (ROA)Net profit ÷ Total assets × 100
-0.2 %
WeakAmong the 40% lowest rated companies in the industry
20212025
EBITDA — year on year
NOK thousandsKey figures
Annual report 2025| Revenue | 0M NOK | — |
| EBITDA | -0M NOK | +11% |
| Net profit | -0M NOK | +11% |
| Total assets | 12.1M NOK | 0% |
| Equity | 0.2M NOK | -13% |
| Employees | 0 | — |
Company information
Legal name
HELLESUND UTVIKLING AS
Org number
919222670
Legal form
Aksjeselskap
NACE code
Founded
26 June 2017 · 9 years
Share capital
NOK 100,000
Employees
0 (FTE)
VAT registered
No
Audit selected
No
Last report
2025-12-31
Financial year
January – December
Signatory rights
Styret i fellesskap.
Company purpose
Utvikling og utbygging av tomteområder for bolig-, nærings- og fritidseiendom, deltakelse i andre selskaper og annen virksomhet som står i naturlig tilknytning til dette.
(no translation available)
Address
Dalaneveien 31, 3772 Kragerø
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Financial development
In its most recent annual report (2025), Hellesund Utvikling AS reported revenue of NOK 0. The figures on this page draw on 5 annual filings covering 2021 to 2025. The bottom line showed a net loss of NOK 29.8k.
At the end of 2025, equity financed 1.7% of the balance sheet, and current assets covered short-term debt 0.1 times.
Financials
Revenue
NOKEBITDA
NOK thousandsIncome statement
NOK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 |
| Staff expenses | -0 | -0 | -0 | -0 | -0 |
| EBITDA | -30 | -33 | -33 | -28 | -16 |
| Depreciation & amort. | -0 | -0 | -0 | -0 | -0 |
| EBIT | -30 | -33 | -33 | -28 | -16 |
| Net financials | 0 | 0 | 0 | 1,510 | -326 |
| Profit before tax | -30 | -33 | -33 | 1,481 | -342 |
| Tax | -0 | -0 | -0 | -0 | -0 |
| Net profit | -30 | -33 | -33 | 1,481 | -342 |
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Balance sheet
NOK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total assets | 12,054 | 12,051 | 12,051 | 13,900 | 12,058 |
| Equity | 204 | 233 | 267 | 300 | -1,181 |
| Long-term debt | 0 | 11,648 | 11,615 | 13,431 | 13,079 |
| Short-term debt | 163 | 170 | 169 | 169 | 160 |
| Total debt | 11,850 | 11,817 | 11,784 | 13,600 | 13,239 |
Financial ratios
5-year trendEBITDA margin
<−999 %
20212025
Equity ratio
1.7 %
Very weakAmong the 20% lowest rated companies in the industry
20212025
Return on equity
-14.6 %
Very weakAmong the 20% lowest rated companies in the industry
20212025
Net profit margin
<−999 %
20212025
Asset turnover
0.00×
Very weakAmong the 10% lowest rated companies in the industry
20212025
Debt / equity
58.17×
Very weakAmong the 10% lowest rated companies in the industry
20212025
Sector performance
23 of 28 ratios graded28 financial ratios from the latest filing, each graded against companies in the same industry.
Profitability
Return on equity (ROE)Very weak
Among the 20% lowest rated companies in the industry
Net profit as a percentage of equity — the return the owners earned on their invested capital this year.
Return on assets (ROA)Weak
Among the 40% lowest rated companies in the industry
Net profit as a percentage of total assets — the return generated on the capital employed.
Return on net assets (RONA)Very weak
Among the 20% lowest rated companies in the industry
Profit relative to net assets (total assets minus total debt) — the ability to generate earnings from the net asset base alone.
Basic earning power (BEP)Weak
Among the 40% lowest rated companies in the industry
EBIT relative to total assets — the company's earning power before the effects of tax and financial leverage.
Capacity ratioVery weak
Among the 10% lowest rated companies in the industry
Shows how strongly fixed costs weigh on the gross result — a high ratio means fixed costs take only a small bite out of the earnings from basic operations.
Gross marginNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
The gross result as a share of revenue — how much of the revenue is left after variable costs to cover the company's fixed costs.
Operating marginNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
EBIT as a share of revenue — the share of revenue remaining as earnings once all operating costs are covered. A key measure of earning power.
Net profit marginNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
The profit for the year as a share of revenue — the company's ability to turn revenue into profit.
Liquidity
Current ratioVery weak
Among the 10% lowest rated companies in the industry
Current assets relative to short-term debt — the ability to settle short-term obligations with current assets alone. Around 150% is considered satisfactory from a credit perspective.
Quick ratioVery weak
Among the 20% lowest rated companies in the industry
Current assets excluding inventory relative to short-term debt — whether the most liquid assets alone can cover the short-term obligations. A value of 1 or above signals a healthy liquidity position.
Cash ratioWeak
Among the 30% lowest rated companies in the industry
Cash relative to short-term debt — the ability to repay short-term obligations with cash alone.
Current assets to equityVery strong
Among the 20% highest rated companies in the industry
Current assets relative to equity — an indicator of the balance-sheet structure and of the company's short- and long-term financing. The healthy level is highly industry-dependent.
Fixed assets to long-term capitalVery weak
Among the 10% lowest rated companies in the industry
Fixed assets relative to long-term capital (equity plus long-term liabilities). Below 100% means the long-term capital finances more than just the fixed assets — a healthier liquidity position.
Cash conversion ratioAverage
Around the average of companies in the same industry
Cash flow relative to profit — the ability to convert reported profits into accessible cash.
Debt & solvency
Solidity ratioVery weak
Among the 20% lowest rated companies in the industry
Equity as a share of total assets — the ability to absorb losses. Around 40% is considered satisfactory from a credit perspective.
Debt ratioWeak
Among the 30% lowest rated companies in the industry
Total debt relative to the balance-sheet total — the share of the assets financed by debt rather than equity.
Debt to equityVery weak
Among the 10% lowest rated companies in the industry
Debt relative to equity — the company's leverage. A higher value means heavier reliance on debt financing.
Liabilities to equityVery weak
Among the 10% lowest rated companies in the industry
Total liabilities relative to equity — whether the company operates primarily on borrowed capital or on its own.
Income to debtWeak
Among the 40% lowest rated companies in the industry
Profit relative to debt — the ability to create earnings while operating with debt.
EBITDA to debtWeak
Among the 40% lowest rated companies in the industry
EBITDA relative to debt — how much operating earnings are available to service the debt.
Interest rate on debtVery strong
Among the 10% highest rated companies in the industry
Financial expenses relative to total liabilities — the effective interest rate the company pays on its debt.
Interest marginAverage
Around the average of companies in the same industry
The return on assets minus the interest rate on debt. Positive means the company benefits from operating with debt; negative means the debt makes it worse off.
Interest coverageNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
The ability to pay the interest on the company's debt out of its earnings.
Efficiency & development
Asset turnoverVery weak
Among the 10% lowest rated companies in the industry
Revenue relative to total assets — the ability to generate revenue from the asset base.
Equity to contributed capitalWeak
Among the 40% lowest rated companies in the industry
Total equity relative to the capital the owners contributed — how the equity has developed from its starting point.
One-year change in equityVery weak
Among the 20% lowest rated companies in the industry
The size of this year's increase or decrease in the company's equity.
One-year change in debtAverage
Around the average of companies in the same industry
The size of this year's increase or decrease in the company's debt.
Inventory turnoverNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
Revenue relative to inventory — how many times a year the inventory is sold and replaced. A low value can indicate weak sales or excess inventory.
Annual reports & filings
- Annual report 2025Filed via Brønnøysundsregistrene · Period 2025-01-01 – 2025-12-31
- Annual report 2024Filed via Brønnøysundsregistrene · Period 2024-01-01 – 2024-12-31
- Annual report 2023Filed via Brønnøysundsregistrene · Period 2023-01-01 – 2023-12-31
- Annual report 2022Filed via Brønnøysundsregistrene · Period 2022-01-01 – 2022-12-31
- Annual report 2021Filed via Brønnøysundsregistrene · Period 2021-01-01 – 2021-12-31
People & ownership
Management
Actively employed in the business| Name | Role | Member since |
|---|---|---|
| Current (1) | ||
TA Chief Executive Officer | Chief Executive Officer | 2017 |
Board of directors
Non-executive oversight| Name | Role | Member since |
|---|---|---|
| Current (2) | ||
AH Chairman | Chairman | 2017 |
TA Board of Directors | Board of Directors | 2017 |
Shareholders
Active legal owners| Shareholder | Type | Ownership | Votes | Registered |
|---|---|---|---|---|
| Company | 50% | 50% | 2020 | |
| Company | 25% | 25% | 2020 | |
| Company | 25% | 25% | 2020 |
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Company hierarchy
Agnar As
Hellesund Utvikling AS Board network connections
Board members of Hellesund Utvikling AS also hold positions in 39 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Tim Agnar Kronborg | Chief Executive Officer | 22 companiesMany roles |
| Andrew Howatson | Chairman | 17 companiesMany roles |
Frequently asked questions
What is the Org number of Hellesund Utvikling AS?
Hellesund Utvikling AS is registered with Brønnøysundsregistrene under Org 919222670.
Who is the CEO of Hellesund Utvikling AS?
Tim Agnar Kronborg is the CEO of Hellesund Utvikling AS.
Who is the chairman of Hellesund Utvikling AS?
Andrew Howatson chairs the board of Hellesund Utvikling AS.
Where is Hellesund Utvikling AS headquartered?
Hellesund Utvikling AS's registered address is Dalaneveien 31.