123BILMEGLER HARDANGER AS: årsregnskap 2019 vs 2018
Shrank 17% on revenue, weaker earnings, cash halved-plus
approved 2020-10-30; registry 2020-11-04; journal 2020 965051
Summary
What changed
Comparing Årsregnskap 2019 with 2018 for 123BILMEGLER HARDANGER AS. Revenue 5.72m NOK → 4.75m NOK (-17.0%). Net result +368.5k NOK → +218.8k NOK. Equity -682.2k NOK → -463.4k NOK.
On the constructive side: operating result improved; equity strengthened; payroll decreased. Pressures included: revenue fell; net result weakened; cash fell.
Also worth watching: thin equity buffer; cogs fell; book investments changed. All figures are taken from the published annual accounts for 123BILMEGLER HARDANGER AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result +264.2k NOK → +276.1k NOK (op. margin 4.6% → 5.8%). Calculated
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Equity strengthened
Book equity -682.2k NOK → -463.4k NOK (equity ratio -46.9% → -108.4%). Calculated
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Payroll decreased
Salary cost 231.2k NOK → 90.6k NOK (4% → 2% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 5.72m NOK to 4.75m NOK (-17.0% YoY). Calculated
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Net result weakened
Net result +368.5k NOK → +218.8k NOK (net margin 6.4% → 4.6%). Calculated
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↓
Cash fell
Bank deposits 329.0k NOK → 25.5k NOK (-92.3% YoY). Calculated
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↓
Current ratio dropped below 1×
Current ratio 8.42× → 0.42× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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Thin equity buffer
Equity ratio is -108.4% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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COGS fell
COGS / varekostnad 5.24m NOK → 3.96m NOK (-24.5% YoY). Calculated
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Book investments changed
Investment / intangible book value 49.9k NOK → 55.3k NOK. Reported fact