1018 DESIGN AS: årsregnskap 2020 vs 2019
Shrank 10% on revenue, slipped into loss
approved 2021-03-04; registry 2021-03-10; journal 2021 141224
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for 1018 DESIGN AS. Revenue 785.5k NOK → 705.0k NOK (-10.2%). Net result +17.6k NOK → -57.5k NOK. Equity 257.4k NOK → 21.9k NOK.
On the constructive side: payroll decreased. Pressures included: revenue fell; operating result weakened; fell into a net loss.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for 1018 DESIGN AS.
At a glance
Scorecard
What improved
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↑
Payroll decreased
Salary cost 653.9k NOK → 621.9k NOK (83% → 88% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 785.5k NOK to 705.0k NOK (-10.2% YoY). Calculated
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↓
Operating result weakened
Operating result -17.8k NOK → -57.6k NOK (op. margin -2.3% → -8.2%). Calculated
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↓
Fell into a net loss
Net result flipped from 17.6k NOK profit to a loss of 57.5k NOK. Calculated
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↓
Equity eroded
Book equity 257.4k NOK → 21.9k NOK (equity ratio 66.2% → 6.2%). Calculated
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↓
Cash fell
Bank deposits 331.3k NOK → 319.2k NOK (-3.6% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 6.2% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation