2020 BULKERS SANTIAGO AS: årsregnskap 2025 vs 2024
Stronger earnings
approved 2026-03-27; registry 2026-04-27; journal 2026 362072
Summary
What changed
Comparing Årsregnskap 2025 with 2024 for 2020 BULKERS SANTIAGO AS. Revenue 115.03m NOK → 110.19m NOK (-4.2%). Net result +35.26m NOK → +73.26m NOK. Equity 40.20m NOK → 1.46m NOK.
On the constructive side: net result improved; cash rose. Pressures included: revenue fell; operating result weakened; equity eroded.
Also worth watching: thin equity buffer; paid-in equity reduced. All figures are taken from the published annual accounts for 2020 BULKERS SANTIAGO AS.
At a glance
Scorecard
What improved
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Net result improved
Net result +35.26m NOK → +73.26m NOK (net margin 30.7% → 66.5%). Calculated
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Cash rose
Bank deposits 14.16m NOK → 22.80m NOK (+61.0% YoY). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 115.03m NOK to 110.19m NOK (-4.2% YoY). Calculated
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↓
Operating result weakened
Operating result +69.84m NOK → +64.42m NOK (op. margin 60.7% → 58.5%). Calculated
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↓
Equity eroded
Book equity 40.20m NOK → 1.46m NOK (equity ratio 10.3% → 0.4%). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 0.4% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Paid-in equity reduced
Paid-in equity fell 124.37m NOK → 12.37m NOK — check capital reduction, conversion, or reclassification. Interpretation