VÅR ENERGI ASA: årsregnskap 2025 vs 2024
Grew 9% on revenue, weaker earnings, cash halved-plus
approved 2026-05-29; registry 2026-07-01; journal 2026 521218
Summary
What changed
Comparing Årsregnskap 2025 with 2024 for VÅR ENERGI ASA. Revenue 7.45bn NOK → 8.10bn NOK (+8.7%). Net result +327.11m NOK → +847.0k NOK. Equity 832.51m NOK → 560.00m NOK.
On the constructive side: revenue rose; operating result improved; owners injected capital. Pressures included: net result weakened; equity eroded; cash fell.
Also worth watching: thin equity buffer; sharp cash drawdown; book investments changed. All figures are taken from the published annual accounts for VÅR ENERGI ASA.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 7.45bn NOK to 8.10bn NOK (+8.7% YoY). Calculated
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Operating result improved
Operating result +3.79bn NOK → +4.18bn NOK (op. margin 50.9% → 51.7%). Calculated
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Owners injected capital
Paid-in equity rose 33.05m NOK → 46.00m NOK (+12.95m NOK). Reported fact
What deteriorated
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↓
Net result weakened
Net result +327.11m NOK → +847.0k NOK (net margin 4.4% → 0.0%). Calculated
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↓
Equity eroded
Book equity 832.51m NOK → 560.00m NOK (equity ratio 3.8% → 2.1%). Calculated
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↓
Cash fell
Bank deposits 278.88m NOK → 700.0k NOK (-99.7% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 2.1% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Sharp cash drawdown
Cash fell by more than 60% YoY (278.88m NOK → 700.0k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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Book investments changed
Investment / intangible book value 31.46m NOK → 38.00m NOK. Reported fact