28TH PROPERTIES AS: årsregnskap 2019 vs 2018
Shrank 94% on revenue, slipped into loss, cash halved-plus
approved 2020-08-31; registry 2020-09-12; journal 2020 798801
Summary
What changed
Comparing Årsregnskap 2019 with 2018 for 28TH PROPERTIES AS. Revenue 8.05m NOK → 453.3k NOK (-94.4%). Net result +235.3k NOK → -507.1k NOK. Equity 283.9k NOK → -223.2k NOK.
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 28TH PROPERTIES AS.
At a glance
Scorecard
What deteriorated
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Revenue fell
Operating income / revenue moved from 8.05m NOK to 453.3k NOK (-94.4% YoY). Calculated
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Operating result weakened
Operating result +334.9k NOK → -375.6k NOK (op. margin 4.2% → -82.9%). Calculated
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Fell into a net loss
Net result flipped from 235.3k NOK profit to a loss of 507.1k NOK. Calculated
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Equity eroded
Book equity 283.9k NOK → -223.2k NOK (equity ratio 61.7% → -76.0%). Calculated
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Cash fell
Bank deposits 440.9k NOK → 31.8k NOK (-92.8% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is -76.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation