Ecpay AS
ASActiveOrg 989158309Kirkegata 45, 2609 LillehammerActivities of collection agencies and credit bureaus· NACE 8291Est. 2005 · 20 years old18 employeeshttps://www.ecpay.no
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Overview
Ecpay AS is a Norwegian AS based in Lillehammer, operating in the Activities of collection agencies and credit bureaus sector. Incorporated in 2005, the company has 18 employees and reported revenue of NOK 33.5m in its latest annual filing.
Revenue 2025
33.5M NOK
+8% vs 2024
EBITDA margin
21.5 %
+25% vs 2024
Net profit 2025
2.8M NOK
+65% vs 2024
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
45.0 %
AverageAround the average of companies in the same industry
20212025
Liquidity ratioCurrent assets ÷ Short-term debt
1.7×
AverageAround the average of companies in the same industry
20212025
Return on assets (ROA)Net profit ÷ Total assets × 100
11.1 %
StrongAmong the 40% highest rated companies in the industry
20212025
EBITDA — year on year
NOK thousandsKey figures
Annual report 2025| Revenue | 33.5M NOK | +8% |
| EBITDA | 7.2M NOK | +25% |
| Net profit | 2.8M NOK | +65% |
| Total assets | 25M NOK | -4% |
| Equity | 11.2M NOK | -20% |
| Employees | 18 | — |
Company information
Legal name
ECPAY AS
Org number
989158309
Legal form
Aksjeselskap
NACE code
Founded
8 December 2005 · 20 years
Share capital
NOK 5,416,086
Employees
18 (FTE)
VAT registered
Yes
Audit selected
No
Last report
2025-12-31
Financial year
January – December
Signatory rights
Styrets leder og ett styremedlem i fellesskap.
Company purpose
Drive ervervsmessig inndriving av forfalte pengekrav for andre, kredittopplysningsvirksomhet, samt annen virksomhet i forbindelse med nevnte formål.
(no translation available)
Contact
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), Ecpay AS reported revenue of NOK 33.5m, an increase of 8% 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 2.8m, and the EBITDA margin stood at 21.5%.
At the end of 2025, equity financed 45% of the balance sheet, and current assets covered short-term debt 1.7 times.
Financials
Revenue
NOK millionsEBITDA
NOK thousandsIncome statement
NOK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Revenue | 33,463 | 30,905 | 27,936 | 21,715 | 21,941 |
| Staff expenses | -15,923 | -15,094 | -12,396 | -10,861 | -12,680 |
| EBITDA | 7,187 | 5,729 | 7,518 | 3,696 | 2,113 |
| Depreciation & amort. | -3,092 | -3,141 | -2,298 | -1,513 | -363 |
| EBIT | 4,095 | 2,588 | 5,220 | 2,183 | 1,750 |
| Net financials | 308 | 407 | 174 | 6 | -81 |
| Profit before tax | 4,403 | 2,995 | 5,394 | 2,189 | 1,669 |
| Tax | 1,632 | 1,316 | 1,663 | -92 | 11 |
| Net profit | 2,772 | 1,679 | 3,731 | 2,280 | 1,658 |
Balance sheet
NOK thousands| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Total assets | 24,976 | 25,929 | 28,684 | 15,946 | 12,383 |
| Equity | 11,239 | 13,989 | 22,314 | 11,689 | 6,549 |
| Long-term debt | 2,070 | 2,026 | 1,646 | 0 | 0 |
| Short-term debt | 11,666 | 9,914 | 4,724 | 4,257 | 5,833 |
| Total debt | 13,736 | 11,940 | 6,370 | 4,257 | 5,833 |
Financial ratios
5-year trendEBITDA margin
21.5 %
20212025
Equity ratio
45.0 %
AverageAround the average of companies in the same industry
20212025
Return on equity
24.7 %
StrongAmong the 40% highest rated companies in the industry
20212025
Net profit margin
8.3 %
StrongAmong the 40% highest rated companies in the industry
20212025
Asset turnover
1.34×
AverageAround the average of companies in the same industry
20212025
Debt / equity
1.22×
AverageAround the average of companies in the same 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 marginStrong
Among the 40% highest 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 marginStrong
Among the 40% 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)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 ratioVery weak
Among the 10% 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 equityWeak
Among the 40% 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 capitalAverage
Around the average of companies in the same 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 equityAverage
Around the average of companies in the same industry
Debt relative to equity — the company's leverage. A higher value means heavier reliance on debt financing.
Liabilities to equityAverage
Around the average of companies in the same 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 coverageVery strong
Among the 10% 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.
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.
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 debtWeak
Among the 40% 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 (1) | ||
EA Chief Executive Officer | Chief Executive Officer | 2022 |
Former (2)
EO Chief Executive Officer | Chief Executive Officer | 2010 – 2022 |
TA Observer | Observer | 2021 – 2024 |
Board of directors
Non-executive oversight| Name | Role | Member since |
|---|---|---|
| Current (4) | ||
TO Board of Directors | Board of Directors | 2024 |
HB Board of Directors | Board of Directors | 2021 |
ON Chairman | Chairman | 2026 |
LJ Board of Directors | Board of Directors | 2026 |
Former (3)
EO Board of Directors | Board of Directors | 2020 – 2026 |
EA Chairman | Chairman | 2022 – 2026 |
HN Chairman | Chairman | 2020 – 2022 |
Shareholders
Active legal owners| Shareholder | Type | Ownership | Votes | Registered |
|---|---|---|---|---|
| Company | 81.57% | 81.57% | 2024 | |
| Individual | 11.49% | 11.49% | 2023 | |
| Individual | 2.34% | 2.34% | 2023 | |
| Company | 1.47% | 1.47% | 2024 | |
| Company | 1.19% | 1.19% | 2024 | |
| Individual | 1.09% | 1.09% | 2024 | |
| Company | 0.85% | 0.85% | 2024 |
Related companies
Company hierarchy
Ecit F&A Holding As
Ecpay AS (this company)Board network connections
Board members of Ecpay AS also hold positions in 116 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Harald Næss | Chairman | 30 companiesMany roles |
| Linda Janne Forberg | Board of Directors | 28 companiesMany roles |
| Odd Nymark | Chairman | 21 companiesMany roles |
| Eivind Areklett Norebø | Chairman | 16 companiesMany roles |
| Emilie Alexandra Madeleine Krogh Berg | Chief Executive Officer | 7 companiesMany roles |
| Erik Oscar Hoelli | Chief Executive Officer | 5 companies |
| Tom Ove Hannestad | Board of Directors | 5 companies |
| Håvard Berg | Board of Directors | 3 companies |
| Thor Arne Engesveen | Observer | 1 company |
Frequently asked questions
What is the Org number of Ecpay AS?
Ecpay AS is registered with Brønnøysundsregistrene under Org 989158309.
What is the revenue of Ecpay AS?
Ecpay AS reported revenue of NOK 33.5m in 2025.
How many employees does Ecpay AS have?
Ecpay AS employs 18 people as of the latest annual report.
Who is the CEO of Ecpay AS?
Emilie Alexandra Madeleine Krogh Berg is the CEO of Ecpay AS, in role since 2022.
Who is the chairman of Ecpay AS?
Odd Nymark chairs the board of Ecpay AS, in role since 2026.
Where is Ecpay AS headquartered?
Ecpay AS's registered address is Kirkegata 45.