Pine Z Capital AS

ASActive

Org 923456015Meteorvegen 3, 6419 MoldeEconomic activity was not specified by tax authority· NACE 0000Est. 2019 · 7 years old1-4 employees

Overview

Pine Z Capital AS is a Norwegian AS based in Molde, operating in the Economic activity was not specified by tax authority sector. Incorporated in 2019, the company reported revenue of NOK 1.3m in its latest annual filing.

Revenue 2025

1.3M NOK

+9% vs 2024

EBITDA margin

19.9 %

−6% vs 2024

Net profit 2025

0.3M NOK

-12% vs 2024

Key ratios

See full ratios →

92.3 %

Average

Around the average of companies in the same industry

20212025

9.1×

Strong

Among the 40% highest rated companies in the industry

20212025

12.3 %

Strong

Among the 30% highest rated companies in the industry

20212025

EBITDA — year on year

NOK thousands

Key figures

Annual report 2025

Revenue	1.3M NOK	+9%
EBITDA	0.3M NOK	-6%
Net profit	0.3M NOK	-12%
Total assets	2.4M NOK	+16%
Equity	2.2M NOK	+15%
Employees	—	—

Financial development

In its most recent annual report (2025), Pine Z Capital AS reported revenue of NOK 1.3m, an increase of 9% on the year before. The figures on this page draw on 5 annual filings covering 2021 to 2025. The bottom line showed a net profit of NOK 293.3k, and the EBITDA margin stood at 19.9%.

At the end of 2025, equity financed 92.3% of the balance sheet, and current assets covered short-term debt 9.1 times.

Financials

Revenue

NOK thousands

EBITDA

NOK thousands

Income statement

NOK thousands

Item	2025	2024	2023	2022	2021
Revenue	1,307	1,197	1,706	0	0
Staff expenses	-1,038	-914	-943	-578	-0
EBITDA	261	277	758	-594	-6
Depreciation & amort.	-0	-0	-0	-0	-0
EBIT	261	277	758	-594	-6
Net financials	89	114	-14	-28	1,447
Profit before tax	350	391	743	-622	1,441
Tax	57	58	25	-0	2
Net profit	293	333	718	-622	1,439

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Balance sheet

NOK thousands

Item	2025	2024	2023	2022	2021
Total assets	2,393	2,059	1,749	1,212	3,367
Equity	2,207	1,914	1,581	863	1,485
Long-term debt	0	0	0	0	1,880
Short-term debt	185	145	169	349	2
Total debt	185	145	169	349	1,882

Financial ratios

5-year trend

EBITDA margin

19.9 %

20212025

Equity ratio

92.3 %

Average

Around the average of companies in the same industry

20212025

Return on equity

13.3 %

Strong

Among the 30% highest rated companies in the industry

20212025

Net profit margin

22.4 %

Average

Around the average of companies in the same industry

20212025

Asset turnover

0.55×

Very strong

Among the 10% highest rated companies in the industry

20212025

Debt / equity

0.08×

Strong

Among the 40% highest rated companies in the industry

20212025

Sector performance

27 of 28 ratios graded

28 financial ratios from the latest filing, each graded against companies in the same industry.

Profitability

Gross marginVery weak

Among the 20% lowest rated companies in the industry

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 marginAverage

Around the average of companies in the same industry

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 marginAverage

Around the average of companies in the same industry

The profit for the year as a share of revenue — the company's ability to turn revenue into profit.

Return on equity (ROE)Strong

Among the 30% highest 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)Strong

Among the 30% highest 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)Strong

Among the 30% highest 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)Very strong

Among the 10% highest 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 strong

Among the 10% highest 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.

Liquidity

Current ratioStrong

Among the 40% highest 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 ratioStrong

Among the 40% highest 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 ratioStrong

Among the 40% highest rated companies in the industry

Cash relative to short-term debt — the ability to repay short-term obligations with cash alone.

Current assets to equityAverage

Around the average of companies in the same 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 capitalStrong

Among the 40% highest 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 ratioAverage

Around the average of companies in the same industry

Equity as a share of total assets — the ability to absorb losses. Around 40% is considered satisfactory from a credit perspective.

Debt ratioStrong

Among the 40% highest 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 equityStrong

Among the 40% highest rated companies in the industry

Debt relative to equity — the company's leverage. A higher value means heavier reliance on debt financing.

Liabilities to equityAverage

Around the average of companies in the same industry

Total liabilities relative to equity — whether the company operates primarily on borrowed capital or on its own.

Income to debtStrong

Among the 30% highest rated companies in the industry

Profit relative to debt — the ability to create earnings while operating with debt.

EBITDA to debtVery strong

Among the 10% highest rated companies in the industry

EBITDA relative to debt — how much operating earnings are available to service the debt.

Interest coverageVery strong

Among the 10% highest rated companies in the industry

The ability to pay the interest on the company's debt out of its earnings.

Interest rate on debtVery weak

Among the 20% lowest rated companies in the industry

Financial expenses relative to total liabilities — the effective interest rate the company pays on its debt.

Interest marginStrong

Among the 30% highest rated companies in the 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.

Efficiency & development

Asset turnoverVery strong

Among the 10% highest rated companies in the industry

Revenue relative to total assets — the ability to generate revenue from the asset base.

Equity to contributed capitalVery strong

Among the 20% highest 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 equityStrong

Among the 30% highest rated companies in the industry

The size of this year's increase or decrease in the company's equity.

One-year change in debtWeak

Among the 30% lowest rated companies in the 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 2025
Filed via Brønnøysundsregistrene · Period 2025-01-01 – 2025-12-31
View PDF
Annual report 2024
Filed via Brønnøysundsregistrene · Period 2024-01-01 – 2024-12-31
View PDF
Annual report 2023
Filed via Brønnøysundsregistrene · Period 2023-01-01 – 2023-12-31
View PDF
Annual report 2022
Filed via Brønnøysundsregistrene · Period 2022-01-01 – 2022-12-31
View PDF
Annual report 2021
Filed via Brønnøysundsregistrene · Period 2021-01-01 – 2021-12-31
View PDF

People & ownership

Management

Actively employed in the business

Name	Role	Member since
Current (1)
HK Hans Kristian Furuseth Chief Executive Officer	Chief Executive Officer	2019

Board of directors

Non-executive oversight

Name	Role	Member since
Current (1)
HK Hans Kristian Furuseth Chairman	Chairman	2019

Shareholders

Active legal owners

No shareholder data available.

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Related companies

Company hierarchy

No registered parent or subsidiaries

Board network connections

Board members of Pine Z Capital AS also hold positions in 1 other company.

Person	Role here	Other companies
Hans Kristian Furuseth	Chief Executive Officer	1 company

Frequently asked questions

What is the Org number of Pine Z Capital AS?

Pine Z Capital AS is registered with Brønnøysundsregistrene under Org 923456015.

What is the revenue of Pine Z Capital AS?

Pine Z Capital AS reported revenue of NOK 1.3m in 2025.

Who is the CEO of Pine Z Capital AS?

Hans Kristian Furuseth is the CEO of Pine Z Capital AS.

Who is the chairman of Pine Z Capital AS?

Hans Kristian Furuseth chairs the board of Pine Z Capital AS.

Where is Pine Z Capital AS headquartered?

Pine Z Capital AS's registered address is Meteorvegen 3.