Second Space AS
ASActiveOrg 925702218Holtet 45, 1368 StabekkDevelopment of building projects· NACE 6812Est. 2020 · 6 years old6 employeeshttps://www.secondspace.no
Loading company…
Overview
Second Space AS is a Norwegian AS based in Stabekk, operating in the Development of building projects sector. Incorporated in 2020, the company has 6 employees and reported revenue of NOK 733.2k in its latest annual filing.
Revenue 2025
0.7M NOK
−8% vs 2024
EBITDA margin
−1,903.0 %
+17% vs 2024
Net profit 2025
15.8M NOK
+85% vs 2024
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
21.4 %
WeakAmong the 40% lowest rated companies in the industry
20212025
Liquidity ratioCurrent assets ÷ Short-term debt
1.9×
AverageAround the average of companies in the same industry
20212025
Return on assets (ROA)Net profit ÷ Total assets × 100
1.7 %
AverageAround the average of companies in the same industry
20212025
EBITDA — year on year
NOK millionsKey figures
Annual report 2025| Revenue | 0.7M NOK | -8% |
| EBITDA | -14M NOK | +17% |
| Net profit | 15.8M NOK | +85% |
| Total assets | 931.8M NOK | -24% |
| Equity | 199.7M NOK | +30% |
| Employees | 6 | — |
Company information
Legal name
SECOND SPACE AS
Org number
925702218
Legal form
Aksjeselskap
NACE code
Founded
19 August 2020 · 6 years
Share capital
NOK 154,030,000
Employees
6 (FTE)
VAT registered
Yes
Audit selected
No
Last report
2025-12-31
Financial year
January – December
Signatory rights
Styrets medlemmer hver for seg.
Company purpose
Drift, kjøp, salg og utvikling av fast eiendom, herunder gjennom deltakelse i andre selskaper, samt virksomhet som står i forbindelse med dette. Selskapet kan også påta seg annen inntektsgivende virksomhet.
(no translation available)
Contact
Address
Holtet 45, 1368 Stabekk
Phone
+47 45 50 58 00
Email
hello@secondspace.no
Website
https://www.secondspace.no
Risika for professionals
Risika provides regulated workflow tools for finance, procurement and compliance teams that need monitoring, alerts and an API.
Financial development
In its most recent annual report (2025), Second Space AS reported revenue of NOK 733.2k, a decrease of 8% 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 15.8m, and the EBITDA margin stood at -1,903%.
At the end of 2025, equity financed 21.4% of the balance sheet, and current assets covered short-term debt 1.9 times.
Financials
Revenue
NOK thousandsEBITDA
NOK millionsIncome statement
NOK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 733 | 795 | 685 | 0 | 0 |
| Staff expenses | -7,682 | -7,305 | -5,776 | -6,167 | -4,387 |
| EBITDA | -13,952 | -16,855 | -9,753 | -9,930 | -8,750 |
| Depreciation & amort. | -34 | -207 | -207 | -172 | -0 |
| EBIT | -13,987 | -17,062 | -9,960 | -10,102 | -8,750 |
| Net financials | 34,227 | 28,032 | 21,212 | -1,858 | 4,641 |
| Profit before tax | 20,240 | 10,970 | 11,252 | -11,960 | -4,109 |
| Tax | 4,456 | 2,431 | 2,475 | -3,559 | -904 |
| Net profit | 15,784 | 8,539 | 8,776 | -8,401 | -3,205 |
Balance sheet
NOK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total assets | 931,817 | 1,225,662 | 1,241,171 | 1,297,714 | 1,076,969 |
| Equity | 199,714 | 153,944 | 146,966 | 138,190 | 120,808 |
| Long-term debt | 0 | 1,037,920 | 1,065,923 | 1,140,545 | 949,074 |
| Short-term debt | 31,150 | 33,798 | 28,281 | 18,978 | 7,087 |
| Total debt | 732,103 | 1,071,718 | 1,094,204 | 1,159,524 | 956,161 |
Financial ratios
5-year trendEBITDA margin
<−999 %
20212025
Equity ratio
21.4 %
WeakAmong the 40% lowest rated companies in the industry
20212025
Return on equity
7.9 %
AverageAround the average of companies in the same industry
20212025
Net profit margin
>999 %
Very strongAmong the 10% highest rated companies in the industry
20212025
Asset turnover
0.00×
WeakAmong the 40% lowest rated companies in the industry
20212025
Debt / equity
3.67×
WeakAmong the 30% lowest rated companies in the industry
20212025
Sector performance
27 of 28 ratios graded28 financial ratios from the latest filing, each graded against companies in the same industry.
Profitability
Gross marginWeak
Among the 30% 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 marginVery weak
Among the 10% lowest rated companies in the 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 marginVery strong
Among the 10% highest rated companies in the industry
The profit for the year as a share of revenue — the company's ability to turn revenue into profit.
Return on equity (ROE)Average
Around the average of companies in the same industry
Net profit as a percentage of equity — the return the owners earned on their invested capital this year.
Return on assets (ROA)Average
Around the average of companies in the same industry
Net profit as a percentage of total assets — the return generated on the capital employed.
Return on net assets (RONA)Average
Around the average of companies in the same 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 30% 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 ratioWeak
Among the 40% 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.
Liquidity
Current ratioAverage
Around the average of companies in the same 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 ratioAverage
Around the average of companies in the same 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 equityStrong
Among the 40% 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 ratioVery weak
Among the 20% lowest rated companies in the industry
Cash flow relative to profit — the ability to convert reported profits into accessible cash.
Debt & solvency
Solidity ratioWeak
Among the 40% 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 ratioAverage
Around the average of companies in the same industry
Total debt relative to the balance-sheet total — the share of the assets financed by debt rather than equity.
Debt to equityWeak
Among the 30% 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 equityWeak
Among the 30% 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 debtAverage
Around the average of companies in the same industry
Profit relative to debt — the ability to create earnings while operating with debt.
EBITDA to debtWeak
Among the 30% lowest rated companies in the industry
EBITDA relative to debt — how much operating earnings are available to service the debt.
Interest coverageWeak
Among the 30% lowest rated companies in the industry
The ability to pay the interest on the company's debt out of its earnings.
Interest rate on debtWeak
Among the 40% lowest 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.
Efficiency & development
Asset turnoverWeak
Among the 40% 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 strong
Among the 20% highest rated companies in the industry
The size of this year's increase or decrease in the company's equity.
One-year change in debtVery strong
Among the 20% highest 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 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) | ||
HI Chief Executive Officer | Chief Executive Officer | 2021 |
Board of directors
Non-executive oversight| Name | Role | Member since |
|---|---|---|
| Current (4) | ||
DJ Board of Directors | Board of Directors | 2025 |
GS Board of Directors | Board of Directors | 2025 |
FE Board of Directors | Board of Directors | 2025 |
SJ Chairman | Chairman | 2025 |
Former (4)
ØS Board of Directors | Board of Directors | 2025 – 2025 |
MN Chairman | Chairman | 2021 – 2025 |
EA Board of Directors | Board of Directors | 2021 – 2025 |
HA Chairman | Chairman | 2025 – 2025 |
Shareholders
Active legal owners| Shareholder | Type | Ownership | Votes | Registered |
|---|---|---|---|---|
| Company | 100% | 100% | 2025 | |
| Company | 1.6% | 1.6% | 2022 | |
| Company | 43.72% | 43.72% | 2022 | |
| Company | 3.43% | 3.43% | 2022 | |
| Company | 43.72% | 43.72% | 2022 | |
| Company | 5.57% | 5.57% | 2022 | |
| Individual | 0.8% | 0.8% | 2022 |
Related companies
Company hierarchy
Second Space AS (this company)
Second Space Drift AS100% ownedSecond Space Eiendom As100% ownedHvalstad Forretningsbygg AS100% ownedGrønnegata 10 AS100% ownedTerminalgata 10 AS100% ownedDrammensveien 114 AS100% ownedJerikoveien 20 AS100% ownedLøren S1 AS100% ownedHoltet 45 Holding As100% ownedLøren S2 AS100% ownedTungavegen 32 AS100% ownedFabrikkveien 6 Stavanger AS100% ownedSolve Eiendom AS100% ownedKobbervikdalen 71 AS100% ownedLøxa AS100% ownedSannergata 25 AS100% ownedBoard network connections
Board members of Second Space AS also hold positions in 478 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Espen Aubert | Board of Directors | 299 companiesMany roles |
| Øystein Stray Spetalen | Board of Directors | 62 companiesMany roles |
| Henrik August Christensen | Chairman | 40 companiesMany roles |
| Hans Isak Larsson | Chief Executive Officer | 28 companiesMany roles |
| Fabian Emil Søbak | Board of Directors | 25 companiesMany roles |
| Martin Nes | Chairman | 16 companiesMany roles |
| Gustav Sigmund Søbak | Board of Directors | 6 companiesMany roles |
| Dominik Jochem | Board of Directors | 1 company |
| Steven Jerry Skaar | Chairman | 1 company |
Frequently asked questions
What is the Org number of Second Space AS?
Second Space AS is registered with Brønnøysundsregistrene under Org 925702218.
What is the revenue of Second Space AS?
Second Space AS reported revenue of NOK 733.2k in 2025.
How many employees does Second Space AS have?
Second Space AS employs 6 people as of the latest annual report.
Who is the CEO of Second Space AS?
Hans Isak Larsson is the CEO of Second Space AS, in role since 2021.
Who is the chairman of Second Space AS?
Steven Jerry Skaar chairs the board of Second Space AS, in role since 2025.
Where is Second Space AS headquartered?
Second Space AS's registered address is Holtet 45.