Vitar AS
ASActiveOrg 952076663Tor Føyns Vei 7, 8160 GlomfjordBusiness and other management consultancy activities· NACE 7020Est. 1989 · 37 years old5 employeeshttps://www.vitar-no5.webnode.page
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Overview
Vitar AS is a Norwegian AS based in Glomfjord, operating in the Business and other management consultancy activities sector. Incorporated in 1989, the company has 5 employees and reported revenue of NOK 2.5m in its latest annual filing.
Revenue 2025
2.5M NOK
+98% vs 2024
EBITDA margin
−21.1 %
+36% vs 2024
Net profit 2025
-0.4M NOK
+97% vs 2024
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
81.0 %
StrongAmong the 40% highest rated companies in the industry
20212025
Liquidity ratioCurrent assets ÷ Short-term debt
2.3×
AverageAround the average of companies in the same industry
20212025
Return on assets (ROA)Net profit ÷ Total assets × 100
-1.4 %
WeakAmong the 40% lowest rated companies in the industry
20212025
EBITDA — year on year
NOK thousandsKey figures
Annual report 2025| Revenue | 2.5M NOK | +98% |
| EBITDA | -0.5M NOK | +36% |
| Net profit | -0.4M NOK | +97% |
| Total assets | 30M NOK | +13% |
| Equity | 24.3M NOK | -2% |
| Employees | 5 | — |
Company information
Legal name
VITAR AS
Org number
952076663
Legal form
Aksjeselskap
NACE code
Founded
15 June 1989 · 37 years
Share capital
NOK 50,000
Employees
5 (FTE)
VAT registered
Yes
Audit selected
No
Last report
2025-12-31
Financial year
January – December
Company purpose
Drive forretningsutvikling, produktutvikling og konsulentvirksomhet innen handel, med spesialfelt innen ideutvikling og nyetablering av foretak, investering i eiendom og verdipapirer, drive med import og eksport av varer, produksjon av klær og smykker, samt drift av helse-, spa-, og trenings- senter, og hva som naturlig hører sammen med dette.
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Contact
Address
Tor Føyns Vei 7, 8160 Glomfjord
Phone
+47 90 66 74 80
Email
geir@vitar.no
Website
https://www.vitar-no5.webnode.page
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Financial development
In its most recent annual report (2025), Vitar AS reported revenue of NOK 2.5m, an increase of 98% 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 434.2k, and the EBITDA margin stood at -21.1%.
At the end of 2025, equity financed 81% of the balance sheet, and current assets covered short-term debt 2.3 times.
Financials
Revenue
NOK thousandsEBITDA
NOK thousandsIncome statement
NOK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 2,530 | 1,279 | 2,056 | 1,028 | 1,386 |
| Staff expenses | -2,353 | -1,484 | -1,366 | -1,396 | -1,277 |
| EBITDA | -535 | -832 | -542 | -1,164 | -636 |
| Depreciation & amort. | -59 | -59 | -71 | -83 | -85 |
| EBIT | -593 | -891 | -613 | -1,246 | -721 |
| Net financials | 159 | -11,674 | 14,567 | 1,515 | 3,214 |
| Profit before tax | -434 | -12,565 | 13,954 | 269 | 2,493 |
| Tax | -0 | -0 | -0 | -140 | -161 |
| Net profit | -434 | -12,565 | 13,954 | 409 | 2,654 |
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Balance sheet
NOK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total assets | 29,995 | 26,637 | 38,732 | 17,793 | 18,396 |
| Equity | 24,302 | 24,736 | 37,301 | 15,700 | 15,290 |
| Long-term debt | 0 | 204 | 244 | 293 | 477 |
| Short-term debt | 5,693 | 1,698 | 1,186 | 1,800 | 2,628 |
| Total debt | 5,693 | 1,901 | 1,431 | 2,094 | 3,105 |
Financial ratios
5-year trendEBITDA margin
-21.1 %
20212025
Equity ratio
81.0 %
StrongAmong the 40% highest rated companies in the industry
20212025
Return on equity
-1.8 %
WeakAmong the 30% lowest rated companies in the industry
20212025
Net profit margin
-17.2 %
Very weakAmong the 20% lowest rated companies in the industry
20212025
Asset turnover
0.08×
WeakAmong the 40% lowest rated companies in the industry
20212025
Debt / equity
0.23×
StrongAmong the 40% highest 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 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 marginVery weak
Among the 20% 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 weak
Among the 20% 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)Weak
Among the 30% 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 40% 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)Weak
Among the 30% 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 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 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 ratioAverage
Around the average of companies in the same industry
Cash relative to short-term debt — the ability to repay short-term obligations with cash alone.
Current assets to equityVery strong
Among the 20% 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 ratioStrong
Among the 40% highest 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 40% 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 40% 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 debtWeak
Among the 30% lowest rated companies in the industry
Profit relative to debt — the ability to create earnings while operating with debt.
EBITDA to debtWeak
Among the 40% lowest rated companies in the industry
EBITDA relative to debt — how much operating earnings are available to service the debt.
Interest coverageVery weak
Among the 20% lowest rated companies in the industry
The ability to pay the interest on the company's debt out of its earnings.
Interest rate on debtAverage
Around the average of companies in the same industry
Financial expenses relative to total liabilities — the effective interest rate the company pays on its debt.
Interest marginWeak
Among the 40% 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 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 equityWeak
Among the 40% lowest rated companies in the industry
The size of this year's increase or decrease in the company's equity.
One-year change in debtVery weak
Among the 10% lowest 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 (2) | ||
AO Deputy Member | Deputy Member | 2003 |
GL Chief Executive Officer | Chief Executive Officer | 2008 |
Board of directors
Non-executive oversight| Name | Role | Member since |
|---|---|---|
| Current (1) | ||
GL Chairman | Chairman | 2003 |
Shareholders
Active legal ownersNo shareholder data available.
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Company hierarchy
Vitar AS 
Svaice ASBoard network connections
Board members of Vitar AS also hold positions in 16 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Geir Ludvik Olsen | Chief Executive Officer | 11 companiesMany roles |
| Anne-Marit Oleen | Deputy Member | 5 companies |
Frequently asked questions
What is the Org number of Vitar AS?
Vitar AS is registered with Brønnøysundsregistrene under Org 952076663.
What is the revenue of Vitar AS?
Vitar AS reported revenue of NOK 2.5m in 2025.
How many employees does Vitar AS have?
Vitar AS employs 5 people as of the latest annual report.
Who is the CEO of Vitar AS?
Geir Ludvik Olsen is the CEO of Vitar AS, in role since 2008.
Who is the chairman of Vitar AS?
Geir Ludvik Olsen chairs the board of Vitar AS, in role since 2003.
Where is Vitar AS headquartered?
Vitar AS's registered address is Tor Føyns Vei 7.