2CREATE AS: årsregnskap 2019 vs 2018
Shrank 55% on revenue, slipped into loss, cash halved-plus
approved 2020-07-22; registry 2020-09-01; journal 2020 726747
Summary
What changed
Comparing Årsregnskap 2019 with 2018 for 2CREATE AS. Revenue 527.2k NOK → 234.6k NOK (-55.5%). Net result +74.9k NOK → -84.9k NOK. Equity 123.9k NOK → 39.0k NOK.
On the constructive side: payroll decreased. Pressures included: revenue fell; operating result weakened; fell into a net loss.
Also worth watching: cogs fell. All figures are taken from the published annual accounts for 2CREATE AS.
At a glance
Scorecard
What improved
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↑
Payroll decreased
Salary cost 1.14m NOK → 194.7k NOK (216% → 83% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 527.2k NOK to 234.6k NOK (-55.5% YoY). Calculated
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↓
Operating result weakened
Operating result +97.2k NOK → -108.9k NOK (op. margin 18.4% → -46.4%). Calculated
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↓
Fell into a net loss
Net result flipped from 74.9k NOK profit to a loss of 84.9k NOK. Calculated
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↓
Equity eroded
Book equity 123.9k NOK → 39.0k NOK (equity ratio 52.3% → 45.6%). Calculated
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↓
Cash fell
Bank deposits 195.7k NOK → 50.6k NOK (-74.1% YoY). Calculated
Things to notice
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·
COGS fell
COGS / varekostnad 205.1k NOK → 86.0k NOK (-58.1% YoY). Calculated