Vicama AS
ASActiveOrg 831982942Tjuvholmen Allé 1, 0252 OsloInvestigation and private security activities· NACE 8001Est. 2023 · 3 years old1-4 employees
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Overview
Vicama AS is a Norwegian AS based in Oslo, operating in the Investigation and private security activities sector. Incorporated in 2023, the company reported revenue of NOK 1.7m in its latest annual filing.
Revenue 2025
0B NOK
+3698% vs 2024
EBITDA margin
−496.5 %
+73% vs 2024
Net profit 2025
-0B NOK
-102% vs 2024
Key ratios
See full ratios →Solidity ratioEquity ÷ Total assets × 100
42.5 %
AverageAround the average of companies in the same industry
20232025
Liquidity ratioCurrent assets ÷ Short-term debt
2.4×
StrongAmong the 40% highest rated companies in the industry
20232025
Return on assets (ROA)Net profit ÷ Total assets × 100
-2.8 %
WeakAmong the 40% lowest rated companies in the industry
20232025
EBITDA — year on year
NOK millionsKey figures
Annual report 2025| Revenue | 0B NOK | +3698% |
| EBITDA | -0B NOK | +73% |
| Net profit | -0B NOK | -102% |
| Total assets | 1.6B NOK | -6% |
| Equity | 0.7B NOK | -13% |
| Employees | — | — |
Company information
Legal name
VICAMA AS
Org number
831982942
Legal form
Aksjeselskap
NACE code
Founded
17 August 2023 · 3 years
Share capital
NOK 300,000
Employees
1-4
VAT registered
Yes
Audit selected
No
Last report
2025-12-31
Financial year
January – December
Signatory rights
Daglig leder eller styrets leder hver for seg.
Company purpose
Kjøp, salg og forvaltning av fast eiendom, skipsfart, handel og hva dermed står i forbindelse, samt interessere seg i andre foretagender.
(no translation available)
Address
Tjuvholmen Allé 1, 0252 Oslo
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Financial development
In its most recent annual report (2025), Vicama AS reported revenue of NOK 1.7m, an increase of 3698% on the year before. The figures on this page draw on 3 annual filings covering 2023 to 2025. The bottom line showed a net loss of NOK 44.5m, and the EBITDA margin stood at -496.5%.
At the end of 2025, equity financed 42.5% of the balance sheet, and current assets covered short-term debt 2.4 times.
Financials
Revenue
NOK thousandsEBITDA
NOK millionsIncome statement
NOK thousands| Item | 2025 | 2024 | 2023 |
|---|---|---|---|
| Revenue | 1,709 | 45 | 0 |
| Staff expenses | -5,099 | -4,544 | -3,753 |
| EBITDA | -8,486 | -31,826 | -8,332 |
| Depreciation & amort. | -307 | -157 | -116 |
| EBIT | -8,793 | -31,983 | -8,448 |
| Net financials | -35,711 | 2,026,943 | 548,324 |
| Profit before tax | -44,504 | 1,994,960 | 539,876 |
| Tax | -0 | -0 | -0 |
| Net profit | -44,504 | 1,994,960 | 539,876 |
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Balance sheet
NOK thousands| Item | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total assets | 1,575,173 | 1,676,635 | 2,438,714 |
| Equity | 669,880 | 767,323 | 519,390 |
| Long-term debt | 544,545 | 487,597 | 354,146 |
| Short-term debt | 360,748 | 421,714 | 1,565,178 |
| Total debt | 905,293 | 909,311 | 1,919,324 |
Financial ratios
5-year trendEBITDA margin
-496.5 %
20232025
Equity ratio
42.5 %
AverageAround the average of companies in the same industry
20232025
Return on equity
-6.6 %
WeakAmong the 30% lowest rated companies in the industry
20232025
Net profit margin
<−999 %
Very weakAmong the 10% lowest rated companies in the industry
20232025
Asset turnover
0.00×
WeakAmong the 30% lowest rated companies in the industry
20232025
Debt / equity
1.35×
AverageAround the average of companies in the same industry
20232025
Sector performance
26 of 28 ratios graded28 financial ratios from the latest filing, each graded against companies in the same industry.
Profitability
Gross marginStrong
Among the 40% highest 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 weak
Among the 10% 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)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 ratioWeak
Among the 30% 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 ratioStrong
Among the 40% 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 ratioStrong
Among the 40% 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 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 equityAverage
Around the average of companies in the same 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 weak
Among the 20% lowest 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 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 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 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 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 30% lowest rated companies in the industry
Revenue relative to total assets — the ability to generate revenue from the asset base.
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 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.
Equity to contributed capitalNot rated
Cannot be graded — the figures this ratio builds on are not available in the latest filing.
Total equity relative to the capital the owners contributed — how the equity has developed from its starting point.
Annual reports & filings
People & ownership
Management
Actively employed in the business| Name | Role | Member since |
|---|---|---|
| Current (1) | ||
DJ Chief Executive Officer | Chief Executive Officer | 2023 |
Former (1)
CU Chief Executive Officer | Chief Executive Officer | 2023 – 2023 |
Board of directors
Non-executive oversight| Name | Role | Member since |
|---|---|---|
| Current (1) | ||
KC Chairman | Chairman | 2023 |
Former (1)
ML Chairman | Chairman | 2023 – 2023 |
Shareholders
Active legal owners| Shareholder | Type | Ownership | Votes | Registered |
|---|---|---|---|---|
| Company | 32.67% | 32.67% | 2024 | |
| Company | 32.67% | 32.67% | 2024 | |
| Company | 32.67% | 32.67% | 2024 | |
| Company | 2% | 2% | 2024 |
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Company hierarchy
Vicama AS (this company)
Malling & Co Vekst As7.9914% ownedKongens Gate 12 Holding As100% ownedWernergården Utvikling As100% ownedBorgeskogen Loginvest As50.6% ownedVebjørn Invest As49% ownedOslo Handelsportefølje Invest As100% ownedBrynsengveien 10 Holding As71.31% ownedTerminalen Fjordbyen Utvikling As65.3% ownedCyto Invest As7.13% ownedZone Security AS95.2741% ownedProximar Seafood AS5.9936% ownedBoard network connections
Board members of Vicama AS also hold positions in 65 other companies.
| Person | Role here | Other companies |
|---|---|---|
| Didrik Johannes Vigsnæs | Chief Executive Officer | 34 companiesMany roles |
| Kjell Christian Ulrichsen | Chairman | 22 companiesMany roles |
| Cathrine Ulrichsen | Chief Executive Officer | 8 companiesMany roles |
| Marielle Løvås | Chairman | 1 company |
Frequently asked questions
What is the Org number of Vicama AS?
Vicama AS is registered with Brønnøysundsregistrene under Org 831982942.
What is the revenue of Vicama AS?
Vicama AS reported revenue of NOK 1.7m in 2025.
Who is the CEO of Vicama AS?
Didrik Johannes Vigsnæs is the CEO of Vicama AS.
Who is the chairman of Vicama AS?
Kjell Christian Ulrichsen chairs the board of Vicama AS.
Where is Vicama AS headquartered?
Vicama AS's registered address is Tjuvholmen Allé 1.