Testflow AS
ASActiveOrg 928469824Fridtjof Nansens Vei 12, 0369 OsloComputer programming activities· NACE 6210Est. 2021 · 4 years old1-4 employeeshttps://www.testflows.com
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Overview
Testflow AS is a Norwegian AS based in Oslo, operating in the Computer programming activities sector. Incorporated in 2021, the company reported revenue of NOK 6.7m in its latest annual filing.
Revenue 2025
6.7M NOK
+21% vs 2024
EBITDA margin
5.4 %
−51% vs 2024
Net profit 2025
0.2M NOK
-66% vs 2024
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
-22.5 %
Very weakAmong the 20% lowest rated companies in the industry
20212025
Liquidity ratioCurrent assets ÷ Short-term debt
0.6×
WeakAmong the 30% lowest rated companies in the industry
20212025
Return on assets (ROA)Net profit ÷ Total assets × 100
7.1 %
StrongAmong the 40% highest rated companies in the industry
20212025
EBITDA — year on year
NOK thousandsKey figures
Annual report 2025| Revenue | 6.7M NOK | +21% |
| EBITDA | 0.4M NOK | -51% |
| Net profit | 0.2M NOK | -66% |
| Total assets | 2.7M NOK | -8% |
| Equity | -0.6M NOK | +24% |
| Employees | — | — |
Company information
Legal name
TESTFLOW AS
Org number
928469824
Legal form
Aksjeselskap
NACE code
Founded
24 November 2021 · 4 years
Share capital
NOK 30,000
Employees
1-4
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
Selge tjenester og varer innen digital brukertesting -og annet som naturlig sammenfaller med dette - samt deltakelse i andre selskaper, investeringer og nærliggende virksomhet.
(no translation available)
Contact
Address
Fridtjof Nansens Vei 12, 0369 Oslo
Website
https://www.testflows.com
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), Testflow AS reported revenue of NOK 6.7m, an increase of 21% 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 193.1k, and the EBITDA margin stood at 5.4%.
At the end of 2025, current assets covered short-term debt 0.6 times.
Financials
Revenue
NOK thousandsEBITDA
NOK thousandsIncome statement
NOK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 6,660 | 5,525 | 3,439 | 1,425 | 0 |
| Staff expenses | -3,175 | -2,412 | -2,180 | -1,666 | -0 |
| EBITDA | 359 | 729 | -323 | -1,063 | -10 |
| Depreciation & amort. | -164 | -160 | -0 | -0 | -0 |
| EBIT | 195 | 569 | -323 | -1,063 | -10 |
| Net financials | -2 | -0 | -3 | 0 | -0 |
| Profit before tax | 193 | 569 | -326 | -1,063 | -10 |
| Tax | -0 | -0 | -0 | -0 | -0 |
| Net profit | 193 | 569 | -326 | -1,063 | -10 |
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Balance sheet
NOK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total assets | 2,724 | 2,959 | 1,853 | 1,096 | 30 |
| Equity | -613 | -806 | -1,374 | -1,048 | 20 |
| Long-term debt | 0 | 0 | 0 | 0 | 0 |
| Short-term debt | 3,337 | 3,764 | 3,227 | 2,144 | 10 |
| Total debt | 3,337 | 3,764 | 3,227 | 2,144 | 10 |
Financial ratios
5-year trendEBITDA margin
5.4 %
20212025
Equity ratio
-22.5 %
Very weakAmong the 20% lowest rated companies in the industry
20212025
Return on equity
—
20212025
Net profit margin
2.9 %
AverageAround the average of companies in the same industry
20212025
Asset turnover
2.45×
Very strongAmong the 20% highest rated companies in the industry
20212025
Debt / equity
—
20212025
Sector performance
20 of 28 ratios graded28 financial ratios from the latest filing, each graded against companies in the same industry.
Profitability
Gross marginAverage
Around the average of companies in the same 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 assets (ROA)Strong
Among the 40% highest rated companies in the industry
Net profit as a percentage of total assets — the return generated on the capital employed.
Basic earning power (BEP)Strong
Among the 30% 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 ratioStrong
Among the 40% 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.
Return on equity (ROE)Not rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
Net profit as a percentage of equity — the return the owners earned on their invested capital this year.
Return on net assets (RONA)Not rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
Profit relative to net assets (total assets minus total debt) — the ability to generate earnings from the net asset base alone.
Liquidity
Current ratioWeak
Among the 30% 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 ratioWeak
Among the 30% 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 40% lowest rated companies in the industry
Cash relative to short-term debt — the ability to repay short-term obligations with cash alone.
Cash conversion ratioVery strong
Among the 10% highest rated companies in the industry
Cash flow relative to profit — the ability to convert reported profits into accessible cash.
Current assets to equityNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
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 capitalNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
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.
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 ratioVery weak
Among the 20% 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.
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 debtStrong
Among the 40% highest rated companies in the industry
EBITDA relative to debt — how much operating earnings are available to service the debt.
Interest coverageStrong
Among the 30% highest rated companies in the industry
The ability to pay the interest on the company's debt out of its earnings.
Interest rate on debtStrong
Among the 40% highest 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 40% 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.
Debt to equityNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
Debt relative to equity — the company's leverage. A higher value means heavier reliance on debt financing.
Liabilities to equityNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
Total liabilities relative to equity — whether the company operates primarily on borrowed capital or on its own.
Efficiency & development
Asset turnoverVery strong
Among the 20% highest rated companies in the industry
Revenue relative to total assets — the ability to generate revenue from the asset base.
Equity to contributed capitalVery weak
Among the 10% 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 debtStrong
Among the 40% 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.
One-year change in equityNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
The size of this year's increase or decrease in the company's equity.
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) | ||
EH Chief Executive Officer | Chief Executive Officer | 2025 |
Former (3)
ET Chief Executive Officer | Chief Executive Officer | 2022 – 2023 |
TK Chief Executive Officer | Chief Executive Officer | 2022 – 2025 |
HC Chief Executive Officer | Chief Executive Officer | 2022 – 2025 |
Board of directors
Non-executive oversight| Name | Role | Member since |
|---|---|---|
| Current (4) | ||
TK Chairman | Chairman | 2023 |
OM Board of Directors | Board of Directors | 2026 |
EH Board of Directors | Board of Directors | 2024 |
RR Board of Directors | Board of Directors | 2025 |
Former (2)
ET Chairman | Chairman | 2022 – 2023 |
HC Board of Directors | Board of Directors | 2022 – 2025 |
Shareholders
Active legal owners| Shareholder | Type | Ownership | Votes | Registered |
|---|---|---|---|---|
| Company | 50% | 50% | 2025 | |
| Company | 50% | 50% | 2025 | |
| Company | 8.33% | 8.33% | 2024 | |
| Company | 39.17% | 39.17% | 2024 |
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Related companies
Company hierarchy
Hauglid Holding As
Testflow AS (this company)Board network connections
Board members of Testflow AS also hold positions in 36 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Erik Hauglid | Chief Executive Officer | 9 companiesMany roles |
| Hans Christensen | Chief Executive Officer | 8 companiesMany roles |
| Eirik Torheim Gilje | Chief Executive Officer | 6 companiesMany roles |
| Rolf Ragnvald Tamber | Board of Directors | 5 companies |
| Thomas Kjellberg | Chief Executive Officer | 4 companies |
| Ole Martin Kristiansen | Board of Directors | 4 companies |
Frequently asked questions
What is the Org number of Testflow AS?
Testflow AS is registered with Brønnøysundsregistrene under Org 928469824.
What is the revenue of Testflow AS?
Testflow AS reported revenue of NOK 6.7m in 2025.
Who is the CEO of Testflow AS?
Erik Hauglid is the CEO of Testflow AS, in role since 2025.
Who is the chairman of Testflow AS?
Thomas Kjellberg chairs the board of Testflow AS, in role since 2023.
Where is Testflow AS headquartered?
Testflow AS's registered address is Fridtjof Nansens Vei 12.