Gsfleet AS
ASActiveOrg 963299850Tassebekkveien 354, 3160 StokkeComputer programming activities· NACE 6210Est. 1992 · 34 years old31 employeeshttps://gsgroup.no
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Overview
Gsfleet AS is a Norwegian AS based in Stokke, operating in the Computer programming activities sector. Incorporated in 1992, the company has 31 employees and reported revenue of NOK 75.4m in its latest annual filing.
Revenue 2025
75.4M NOK
+12% vs 2024
EBITDA margin
12.2 %
+131% vs 2024
Net profit 2025
-21M NOK
+62% vs 2024
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
32.1 %
WeakAmong the 40% lowest rated companies in the industry
20212025
Liquidity ratioCurrent assets ÷ Short-term debt
0.1×
Very weakAmong the 20% lowest rated companies in the industry
20212025
Return on assets (ROA)Net profit ÷ Total assets × 100
-8.4 %
WeakAmong the 40% lowest rated companies in the industry
20212025
EBITDA — year on year
NOK millionsKey figures
Annual report 2025| Revenue | 75.4M NOK | +12% |
| EBITDA | 9.2M NOK | +131% |
| Net profit | -21M NOK | +62% |
| Total assets | 250.5M NOK | -9% |
| Equity | 80.4M NOK | -21% |
| Employees | 31 | — |
Company information
Legal name
GSFLEET AS
Org number
963299850
Legal form
Aksjeselskap
NACE code
Founded
3 January 1992 · 34 years
Share capital
NOK 45,873,666
Employees
31 (FTE)
VAT registered
Yes
Audit selected
No
Last report
2025-12-31
Financial year
January – December
Company purpose
Utvikle (hardware og software) og stå for driften av, egne og andres, sporings-, gjenfinnings- og flåtestyringssystemer i inn- og utland. Videre er selskapets formål å engasjere seg, direkte og indirekte, i alt som kan antas å være til støtte for selskapets øvrige virksomhet, herunder handel med varer og tjenester og alt hva dermed står i forbindelse.
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Contact
Address
Tassebekkveien 354, 3160 Stokke
Phone
+47 22 00 40 00
Email
kundeservice@gsgroup.no
Website
https://gsgroup.no
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Financial development
In its most recent annual report (2025), Gsfleet AS reported revenue of NOK 75.4m, an increase of 12% 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 21.0m, and the EBITDA margin stood at 12.2%.
At the end of 2025, equity financed 32.1% of the balance sheet, and current assets covered short-term debt 0.1 times.
Financials
Revenue
NOK millionsEBITDA
NOK millionsIncome statement
NOK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 75,443 | 67,450 | 66,974 | 126,961 | 94,593 |
| Staff expenses | -20,779 | -16,669 | -28,357 | -49,741 | -43,173 |
| EBITDA | 9,184 | 3,982 | -2,724 | 15,024 | 5,772 |
| Depreciation & amort. | -9,791 | -9,601 | -11,064 | -9,412 | -7,389 |
| EBIT | -607 | -5,619 | -13,788 | 5,612 | -1,617 |
| Net financials | -10,775 | -39,717 | -16,405 | 4,987 | 16,894 |
| Profit before tax | -11,382 | -45,336 | -30,193 | 10,599 | 15,278 |
| Tax | 9,594 | 9,594 | -0 | -208 | 1,228 |
| Net profit | -20,976 | -54,930 | -30,193 | 10,807 | 14,050 |
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Balance sheet
NOK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total assets | 250,456 | 275,148 | 319,917 | 386,743 | 373,956 |
| Equity | 80,386 | 101,362 | 31,303 | 140,364 | 129,557 |
| Long-term debt | 0 | 8,622 | 126,136 | 129,644 | 101,129 |
| Short-term debt | 167,042 | 163,483 | 162,478 | 116,736 | 143,270 |
| Total debt | 167,042 | 172,105 | 288,614 | 246,380 | 244,399 |
Financial ratios
5-year trendEBITDA margin
12.2 %
20212025
Equity ratio
32.1 %
WeakAmong the 40% lowest rated companies in the industry
20212025
Return on equity
-26.1 %
Very weakAmong the 20% lowest rated companies in the industry
20212025
Net profit margin
-27.8 %
WeakAmong the 30% lowest rated companies in the industry
20212025
Asset turnover
0.30×
AverageAround the average of companies in the same industry
20212025
Debt / equity
2.12×
WeakAmong the 30% lowest 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 marginWeak
Among the 30% 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 40% 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 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)Average
Around the average of companies in the same 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 ratioVery weak
Among the 20% 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 ratioVery weak
Among the 20% 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 ratioVery weak
Among the 20% lowest rated companies in the 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 capitalVery weak
Among the 10% 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 10% lowest rated companies in the industry
Cash flow relative to profit — the ability to convert reported profits into accessible cash.
Debt & solvency
Solidity ratioWeak
Among the 40% 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 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 30% 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 30% 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 debtWeak
Among the 40% 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 coverageAverage
Around the average of companies in the same 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 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 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 turnoverWeak
Among the 40% lowest rated companies in the 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 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 equityWeak
Among the 30% lowest 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 40% highest rated companies in the 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) | ||
PW Chief Executive Officer | Chief Executive Officer | 2024 |
Former (2)
TV Deputy Member | Deputy Member | 2019 – 2022 |
ER Chief Executive Officer | Chief Executive Officer | 2016 – 2024 |
Board of directors
Non-executive oversight| Name | Role | Member since |
|---|---|---|
| Current (2) | ||
FR Chairman | Chairman | 2019 |
TV Board of Directors | Board of Directors | 2022 |
Former (3)
RW Board of Directors | Board of Directors | 2019 – 2023 |
HA Board of Directors | Board of Directors | 2019 – 2022 |
HH Board of Directors | Board of Directors | 2019 – 2022 |
Shareholders
Active legal owners| Shareholder | Type | Ownership | Votes | Registered |
|---|---|---|---|---|
| Company | 100% | 100% | 2023 | |
| Company | 3.29% | 3.29% | 2020 | |
| Company | 11.04% | 11.04% | 2020 | |
| Company | 1.88% | 1.88% | 2020 | |
| Company | 1.21% | 1.21% | 2020 | |
| Company | 57.29% | 57.29% | 2022 | |
| Individual | 5.54% | 5.54% | 2020 | |
| Company | 3.85% | 3.85% | 2020 | |
| Company | 1.69% | 1.69% | 2020 | |
| Company | 1.53% | 1.53% | 2020 | |
| Company | 7.58% | 7.58% | 2020 |
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Gsfleet AS (this company)Board network connections
Board members of Gsfleet AS also hold positions in 77 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Trond Valvik | Board of Directors | 20 companiesMany roles |
| Fritz Rieber | Chairman | 18 companiesMany roles |
| Roy Widar Furulund | Board of Directors | 17 companiesMany roles |
| Per Waldemar Simonsen | Chief Executive Officer | 9 companiesMany roles |
| Espen Ranvik | Chief Executive Officer | 7 companiesMany roles |
| Hans Asbjørn Skjerpen | Board of Directors | 3 companies |
| Henning Hansen | Board of Directors | 3 companies |
Frequently asked questions
What is the Org number of Gsfleet AS?
Gsfleet AS is registered with Brønnøysundsregistrene under Org 963299850.
What is the revenue of Gsfleet AS?
Gsfleet AS reported revenue of NOK 75.4m in 2025.
How many employees does Gsfleet AS have?
Gsfleet AS employs 31 people as of the latest annual report.
Who is the CEO of Gsfleet AS?
Per Waldemar Simonsen is the CEO of Gsfleet AS, in role since 2024.
Who is the chairman of Gsfleet AS?
Fritz Rieber chairs the board of Gsfleet AS, in role since 2019.
Where is Gsfleet AS headquartered?
Gsfleet AS's registered address is Tassebekkveien 354.