Open Path AS

ASActive

Org 931254278Toftes Gate 14B, 0556 OsloComputer programming activities· NACE 6210Est. 2023 · 3 years old1-4 employees

Overview

Open Path AS is a Norwegian AS based in Oslo, operating in the Computer programming activities sector. Incorporated in 2023, the company reported revenue of NOK 395.0k in its latest annual filing.

Revenue 2025

395K NOK

−23% vs 2024

EBITDA margin

9.3 %

+12% vs 2024

Net profit 2025

18.6K NOK

+11% vs 2024

Key ratios

See full ratios →

43.3 %

Average

Around the average of companies in the same industry

20232025

1.8×

Average

Around the average of companies in the same industry

20232025

9.7 %

Strong

Among the 40% highest rated companies in the industry

20232025

EBITDA — year on year

NOK thousands

Key figures

Annual report 2025

Revenue	395K NOK	-23%
EBITDA	36.6K NOK	+12%
Net profit	18.6K NOK	+11%
Total assets	191.7K NOK	-9%
Equity	82.9K NOK	+29%
Employees	—	—

Financial development

In its most recent annual report (2025), Open Path AS reported revenue of NOK 395.0k, a decrease of 23% on the year before. The figures on this page draw on 3 annual filings covering 2023 to 2025. The bottom line showed a net profit of NOK 18.6k, and the EBITDA margin stood at 9.3%.

At the end of 2025, equity financed 43.3% of the balance sheet, and current assets covered short-term debt 1.8 times.

Financials

Revenue

NOK thousands

EBITDA

NOK thousands

Income statement

NOK thousands

Item	2025	2024	2023
Revenue	395	511	154
Staff expenses	-70	-0	-0
EBITDA	37	33	25
Depreciation & amort.	-0	-0	-0
EBIT	37	33	25
Net financials	-13	-11	-2
Profit before tax	24	22	22
Tax	5	5	5
Net profit	19	17	18

Get a credit rating – not just the numbers

Financial statements show the past. Risika gives you a score and a recommended credit limit, so you know what the numbers mean for your risk.

See the credit rating

Balance sheet

NOK thousands

Item	2025	2024	2023
Total assets	192	210	182
Equity	83	64	48
Long-term debt	0	0	0
Short-term debt	109	146	134
Total debt	109	146	134

Financial ratios

5-year trend

EBITDA margin

9.3 %

20232025

Equity ratio

43.3 %

Average

Around the average of companies in the same industry

20232025

Return on equity

22.4 %

Strong

Among the 40% highest rated companies in the industry

20232025

Net profit margin

4.7 %

Average

Around the average of companies in the same industry

20232025

Asset turnover

2.06×

Very strong

Among the 20% highest rated companies in the industry

20232025

Debt / equity

1.31×

Weak

Among the 40% lowest rated companies in the industry

20232025

Sector performance

27 of 28 ratios graded

28 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 equity (ROE)Strong

Among the 40% 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 40% 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 40% 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)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 30% 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 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 ratioStrong

Among the 30% 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 equityWeak

Among the 30% lowest 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 strong

Among the 10% 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 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.

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 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 40% 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 40% 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 debtStrong

Among the 40% highest rated companies in the industry

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

EBITDA to debtStrong

Among the 30% highest rated companies in the industry

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

Interest coverageStrong

Among the 40% 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 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.

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 capitalAverage

Around the average of companies in the same 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 debtStrong

Among the 30% 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 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

People & ownership

Management

Actively employed in the business

No data on file.

Board of directors

Non-executive oversight

Name	Role	Member since
Current (1)
KI Kim Isaachsen Ammouche Chairman	Chairman	2023

Former (1)


AY Anna Yevseyeva Chairman	Chairman	2023 – 2023

Shareholders

Active legal owners

No shareholder data available.

One in three Danish companies experiences fraud

Sound familiar? See how to strengthen your defences and catch suspicious changes in ownership and management in time.

See the fraud module

Related companies

Company hierarchy

No registered parent or subsidiaries

Board network connections

Board members of Open Path AS also hold positions in 6 other companies.

Person	Role here	Other companies
Anna Yevseyeva	Chairman	6 companiesMany roles

Frequently asked questions

What is the Org number of Open Path AS?

Open Path AS is registered with Brønnøysundsregistrene under Org 931254278.

What is the revenue of Open Path AS?

Open Path AS reported revenue of NOK 395.0k in 2025.

Who is the chairman of Open Path AS?

Kim Isaachsen Ammouche chairs the board of Open Path AS.

Where is Open Path AS headquartered?

Open Path AS's registered address is Toftes Gate 14B.