Secundo AS
ASActiveOrg 927664887Pottemakerveien 10, 0954 OsloEngineering activities and related technical consultancy· NACE 7112Est. 2021 · 5 years old13 employeeshttps://www.fr-be.secundo.com
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Overview
Secundo AS is a Norwegian AS based in Oslo, operating in the Engineering activities and related technical consultancy sector. Incorporated in 2021, the company has 13 employees and reported revenue of NOK 25.8m in its latest annual filing.
Revenue 2025
25.8M NOK
+23% vs 2024
EBITDA margin
0.3 %
+104% vs 2024
Net profit 2025
-2.4M NOK
+34% vs 2024
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
83.9 %
StrongAmong the 30% highest rated companies in the industry
20212025
Liquidity ratioCurrent assets ÷ Short-term debt
3.3×
StrongAmong the 40% highest rated companies in the industry
20212025
Return on assets (ROA)Net profit ÷ Total assets × 100
-8.7 %
WeakAmong the 30% lowest rated companies in the industry
20212025
EBITDA — year on year
NOK thousandsKey figures
Annual report 2025| Revenue | 25.8M NOK | +23% |
| EBITDA | 0.1M NOK | +104% |
| Net profit | -2.4M NOK | +34% |
| Total assets | 27.9M NOK | +25% |
| Equity | 23.4M NOK | +31% |
| Employees | 13 | — |
Company information
Legal name
SECUNDO AS
Org number
927664887
Legal form
Aksjeselskap
NACE code
Founded
4 August 2021 · 5 years
Share capital
NOK 63,553
Employees
13 (FTE)
VAT registered
Yes
Audit selected
No
Last report
2025-12-31
Financial year
January – December
Signatory rights
Daglig leder eller styrets leder hver for seg.
Company purpose
Utvikle teknologi for kjøp og salg av brukte varer, kjøp og salg av brukte varer og annen virksomhet som naturlig faller sammen med dette.
(no translation available)
Contact
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), Secundo AS reported revenue of NOK 25.8m, an increase of 23% on the year before. The figures on this page draw on 5 annual filings covering 2021 to 2025. The bottom line showed a net loss of NOK 2.4m, and the EBITDA margin stood at 0.3%.
At the end of 2025, equity financed 83.9% of the balance sheet, and current assets covered short-term debt 3.3 times.
Financials
Revenue
NOK millionsEBITDA
NOK thousandsIncome statement
NOK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 25,804 | 20,955 | 16,885 | 5,868 | 490 |
| Staff expenses | -5,135 | -3,010 | -8,904 | -3,973 | -168 |
| EBITDA | 79 | -1,951 | -2,201 | -3,369 | -217 |
| Depreciation & amort. | -2,508 | -1,582 | -603 | -0 | -0 |
| EBIT | -2,429 | -3,533 | -2,804 | -3,369 | -217 |
| Net financials | 5 | -122 | -12 | -7 | -0 |
| Profit before tax | -2,423 | -3,655 | -2,816 | -3,376 | -217 |
| Tax | -0 | -0 | -0 | -0 | -0 |
| Net profit | -2,423 | -3,655 | -2,816 | -3,376 | -217 |
Balance sheet
NOK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total assets | 27,886 | 22,222 | 17,547 | 9,958 | 4,244 |
| Equity | 23,399 | 17,822 | 14,259 | 8,607 | 3,977 |
| Long-term debt | 0 | 0 | 0 | 0 | 0 |
| Short-term debt | 4,488 | 4,401 | 3,288 | 1,352 | 267 |
| Total debt | 4,488 | 4,401 | 3,288 | 1,352 | 267 |
Financial ratios
5-year trendEBITDA margin
0.3 %
20212025
Equity ratio
83.9 %
StrongAmong the 30% highest rated companies in the industry
20212025
Return on equity
-10.4 %
Very weakAmong the 20% lowest rated companies in the industry
20212025
Net profit margin
-9.4 %
WeakAmong the 30% lowest rated companies in the industry
20212025
Asset turnover
0.93×
AverageAround the average of companies in the same industry
20212025
Debt / equity
0.19×
StrongAmong the 30% highest rated companies in the industry
20212025
Sector performance
28 of 28 ratios graded28 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 marginWeak
Among the 30% 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 marginWeak
Among the 30% lowest 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)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 30% 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 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 ratioAverage
Around the average of companies in the same 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 equityStrong
Among the 30% 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 capitalWeak
Among the 40% 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 ratioStrong
Among the 30% highest 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 ratioStrong
Among the 30% 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 30% 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 equityStrong
Among the 40% highest rated companies in the industry
Total liabilities relative to equity — whether the company operates primarily on borrowed capital or on its own.
Income to debtVery weak
Among the 20% lowest rated companies in the industry
Profit relative to debt — the ability to create earnings while operating with debt.
EBITDA to debtAverage
Around the average of companies in the same 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 30% lowest rated companies in the industry
Financial expenses relative to total liabilities — the effective interest rate the company pays on its debt.
Interest marginWeak
Among the 30% lowest 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 turnoverAverage
Around the average of companies in the same industry
Revenue relative to total assets — the ability to generate revenue from the asset base.
Inventory turnoverAverage
Around the average of companies in the same industry
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.
Equity to contributed capitalVery strong
Among the 10% 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 debtAverage
Around the average of companies in the same industry
The size of this year's increase or decrease in the company's debt.
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) | ||
EB Chief Executive Officer | Chief Executive Officer | 2021 |
Board of directors
Non-executive oversight| Name | Role | Member since |
|---|---|---|
| Current (6) | ||
MB Chairman | Chairman | 2025 |
TJ Board of Directors | Board of Directors | 2025 |
HE Board of Directors | Board of Directors | 2025 |
SM Board of Directors | Board of Directors | 2024 |
EB Board of Directors | Board of Directors | 2021 |
MR Board of Directors | Board of Directors | 2024 |
Former (2)
AA Board of Directors | Board of Directors | 2021 – 2024 |
HK Board of Directors | Board of Directors | 2022 – 2025 |
Shareholders
Active legal owners| Shareholder | Type | Ownership | Votes | Registered |
|---|---|---|---|---|
| Company | 22.54% | 22.54% | 2025 | |
| Company | 17.54% | 17.54% | 2025 | |
| Company | 15.71% | 15.71% | 2025 | |
| Company | 7.62% | 7.62% | 2025 | |
| Company | 7.22% | 7.22% | 2025 | |
| Company | 5.89% | 5.89% | 2025 | |
| Company | 4.24% | 4.24% | 2025 | |
| Company | 2.49% | 2.49% | 2025 | |
| Company | 2.4% | 2.4% | 2025 | |
| Company | 2.3% | 2.3% | 2025 | |
| Company | 1.27% | 1.27% | 2025 | |
| Company | 0.24% | 0.24% | 2025 |
Related companies
Company hierarchy
Amkt Holding As22.5414%Nordic Living As7.2161%Acme Ventures As5.8892%Eie Vekst As7.6178%Vi Ønsker Styreplass As17.5425%Trendxl As15.7086%Kolset Holding As4.24%Kty Holding As2.49%Secundo As2.4%Litek As2.3%Oppsiden Invest As1.27%Oslo Dev Labs As0.24%
Secundo AS (this company)Board network connections
Board members of Secundo AS also hold positions in 73 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Hedda Karoline Ulvness | Board of Directors | 23 companiesMany roles |
| Marius Barhaugen | Chairman | 16 companiesMany roles |
| Martin Riegel | Board of Directors | 16 companiesMany roles |
| Heidar Engebret | Board of Directors | 5 companies |
| Shafi Mohammed Adan | Board of Directors | 5 companies |
| Arne Alexander Skøien Kvale | Board of Directors | 4 companies |
| Torstein Jørgensen Kolset | Board of Directors | 3 companies |
| Eirik Broms | Chief Executive Officer | 1 company |
Frequently asked questions
What is the Org number of Secundo AS?
Secundo AS is registered with Brønnøysundsregistrene under Org 927664887.
What is the revenue of Secundo AS?
Secundo AS reported revenue of NOK 25.8m in 2025.
How many employees does Secundo AS have?
Secundo AS employs 13 people as of the latest annual report.
Who is the CEO of Secundo AS?
Eirik Broms is the CEO of Secundo AS.
Who is the chairman of Secundo AS?
Marius Barhaugen chairs the board of Secundo AS, in role since 2025.
Where is Secundo AS headquartered?
Secundo AS's registered address is Pottemakerveien 10.