It Forces AS

ASActive

Org 938789169Bruksenhetsnummer H0502 Løkkeveien 91, 4008 StavangerEngineering activities and related technical consultancy· NACE 7112Est. 1986 · 40 years old1-4 employees

Overview

It Forces AS is a Norwegian AS based in Stavanger, operating in the Engineering activities and related technical consultancy sector. Incorporated in 1986, the company reported revenue of NOK 262.6k in its latest annual filing.

Revenue 2025

0.3M NOK

+51% vs 2024

EBITDA margin

−279.2 %

−12% vs 2024

Net profit 2025

0.2M NOK

-83% vs 2024

Key ratios

See full ratios →

99.0 %

Very strong

Among the 20% highest rated companies in the industry

20212025

97.1×

Very strong

Among the 10% highest rated companies in the industry

20212025

0.9 %

Average

Around the average of companies in the same industry

20212025

EBITDA — year on year

NOK thousands

Key figures

Annual report 2025

Revenue	0.3M NOK	+51%
EBITDA	-0.7M NOK	-12%
Net profit	0.2M NOK	-83%
Total assets	26.7M NOK	+1%
Equity	26.4M NOK	+1%
Employees	—	—

Financial development

In its most recent annual report (2025), It Forces AS reported revenue of NOK 262.6k, an increase of 51% 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 234.8k, and the EBITDA margin stood at -279.2%.

At the end of 2025, equity financed 99% of the balance sheet, and current assets covered short-term debt 97.1 times.

Financials

Revenue

NOK thousands

EBITDA

NOK thousands

Income statement

NOK thousands

Item	2025	2024	2023	2022	2021
Revenue	263	174	87	51	178
Staff expenses	-718	-708	-665	-709	-717
EBITDA	-733	-653	-702	-833	-723
Depreciation & amort.	-98	-98	-98	-98	-98
EBIT	-831	-751	-800	-932	-821
Net financials	1,066	2,107	2,260	3,411	3,673
Profit before tax	235	1,355	1,460	2,479	2,852
Tax	-0	-0	-0	-0	-0
Net profit	235	1,355	1,460	2,479	2,852

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Balance sheet

NOK thousands

Item	2025	2024	2023	2022	2021
Total assets	26,692	26,450	26,018	24,630	22,353
Equity	26,421	26,187	25,831	24,471	21,992
Long-term debt	0	0	0	0	0
Short-term debt	270	264	187	159	361
Total debt	270	264	187	159	361

Financial ratios

5-year trend

EBITDA margin

-279.2 %

20212025

Equity ratio

99.0 %

Very strong

Among the 20% highest rated companies in the industry

20212025

Return on equity

0.9 %

Weak

Among the 40% lowest rated companies in the industry

20212025

Net profit margin

89.4 %

Very strong

Among the 10% highest rated companies in the industry

20212025

Asset turnover

0.01×

Weak

Among the 40% lowest rated companies in the industry

20212025

Debt / equity

0.01×

Very strong

Among the 10% 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 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)Weak

Among the 40% 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)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)Weak

Among the 40% 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 40% 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 ratioVery strong

Among the 10% 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 ratioVery strong

Among the 10% 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 ratioVery strong

Among the 10% 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 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 capitalStrong

Among the 30% 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 weak

Among the 10% lowest rated companies in the industry

Cash flow relative to profit — the ability to convert reported profits into accessible cash.

Debt & solvency

Solidity ratioVery strong

Among the 20% 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 ratioVery strong

Among the 10% 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 equityVery strong

Among the 10% 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 equityVery strong

Among the 20% 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 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 weak

Among the 10% lowest rated companies in the industry

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

Interest coverageWeak

Among the 40% lowest 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 10% lowest rated companies in the industry

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

Interest marginVery weak

Among the 10% 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 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 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 equityAverage

Around the average of companies in the same 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.

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 (2)
AI Anne Iren Håvarstein Chief Executive Officer	Chief Executive Officer	2005
BG Bjarte Gudmundsen Deputy Member	Deputy Member	2008

Board of directors

Non-executive oversight

Name	Role	Member since
Current (1)
AI Anne Iren Håvarstein Chairman	Chairman	2008

Shareholders

Active legal owners

No shareholder data available.

One in three Danish companies experiences fraud

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Related companies

Company hierarchy

No registered parent or subsidiaries

Board network connections

Board members of It Forces AS also hold positions in 23 other companies.

Person	Role here	Other companies
Anne Iren Håvarstein	Chief Executive Officer	12 companiesMany roles
Bjarte Gudmundsen	Deputy Member	11 companiesMany roles

Frequently asked questions

What is the Org number of It Forces AS?

It Forces AS is registered with Brønnøysundsregistrene under Org 938789169.

What is the revenue of It Forces AS?

It Forces AS reported revenue of NOK 262.6k in 2025.

Who is the CEO of It Forces AS?

Anne Iren Håvarstein is the CEO of It Forces AS, in role since 2005.

Who is the chairman of It Forces AS?

Anne Iren Håvarstein chairs the board of It Forces AS, in role since 2008.

Where is It Forces AS headquartered?

It Forces AS's registered address is Bruksenhetsnummer H0502 Løkkeveien 91.