2 HJUL SERVICE AS: årsregnskap 2021 vs 2020
Shrank 67% on revenue, stronger earnings
approved 2022-06-30; registry 2022-07-18; journal 2022 726124
Summary
What changed
Comparing Årsregnskap 2021 with 2020 for 2 HJUL SERVICE AS. Revenue 655.2k NOK → 216.9k NOK (-66.9%). Net result -178.3k NOK → -60.2k NOK. Equity -160.1k NOK → -221.5k NOK.
On the constructive side: operating result improved; net result improved. Pressures included: revenue fell; equity eroded; cash fell.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for 2 HJUL SERVICE AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result -177.4k NOK → -61.9k NOK (op. margin -27.1% → -28.6%). Calculated
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Net result improved
Net result -178.3k NOK → -60.2k NOK (net margin -27.2% → -27.8%). Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 655.2k NOK to 216.9k NOK (-66.9% YoY). Calculated
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Equity eroded
Book equity -160.1k NOK → -221.5k NOK (equity ratio -88.7% → -101.2%). Calculated
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Cash fell
Bank deposits 61.8k NOK → 31.9k NOK (-48.4% YoY). Calculated
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Payroll up without matching revenue
Salary cost 238.1k NOK → 264.3k NOK (36% → 122% of revenue). Calculated
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COGS moved
COGS / varekostnad 333.5k NOK → 737.6k NOK (+121.2% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is -101.2% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation