2 BRØDRE HOLDING AS: årsregnskap 2005 vs 2004
Shrank 94% on revenue, weaker earnings
Summary
What changed
Comparing Årsregnskap 2005 with 2004 for 2 BRØDRE HOLDING AS. Revenue 88.48m NOK → 5.46m NOK (-93.8%). Net result +9.42m NOK → +1.26m NOK. Equity 10.00m NOK → 6.26m NOK.
On the constructive side: current ratio back above 1×. Pressures included: revenue fell; operating result weakened; net result weakened.
Also worth watching: thin equity buffer; paid-in equity reduced; cogs fell. All figures are taken from the published annual accounts for 2 BRØDRE HOLDING AS.
At a glance
Scorecard
What improved
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↑
Current ratio back above 1×
Current ratio 0.65× → 7.07×. Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 88.48m NOK to 5.46m NOK (-93.8% YoY). Calculated
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↓
Operating result weakened
Operating result +12.84m NOK → +2.80m NOK (op. margin 14.5% → 51.3%). Calculated
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↓
Net result weakened
Net result +9.42m NOK → +1.26m NOK (net margin 10.6% → 23.0%). Calculated
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↓
Equity eroded
Book equity 10.00m NOK → 6.26m NOK (equity ratio 8.8% → 7.2%). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 7.2% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Paid-in equity reduced
Paid-in equity fell 10.00m NOK → 5.00m NOK — check capital reduction, conversion, or reclassification. Interpretation
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·
COGS fell
COGS / varekostnad 50.87m NOK → 0 NOK (-100.0% YoY). Calculated
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·
Book investments changed
Investment / intangible book value 2 NOK → 5.50m NOK. Reported fact