2HD ARCHITECTURE WORKSHOP AS: årsregnskap 2025 vs 2024
Grew 10% on revenue, stronger earnings, cash halved-plus
registry 2026-03-04; journal 2026 325509
Summary
What changed
Comparing Årsregnskap 2025 with 2024 for 2HD ARCHITECTURE WORKSHOP AS. Revenue 191.0k NOK → 209.7k NOK (+9.8%). Net result -36.5k NOK → -14.3k NOK. Equity -154.8k NOK → -169.0k NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: equity eroded; cash fell.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for 2HD ARCHITECTURE WORKSHOP AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 191.0k NOK to 209.7k NOK (+9.8% YoY). Calculated
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Operating result improved
Operating result -37.3k NOK → -14.3k NOK (op. margin -19.5% → -6.8%). Calculated
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Net result improved
Net result -36.5k NOK → -14.3k NOK (net margin -19.1% → -6.8%). Calculated
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Payroll decreased
Salary cost 3.10m NOK → 4 NOK (1624% → 0% of revenue). Calculated
What deteriorated
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Equity eroded
Book equity -154.8k NOK → -169.0k NOK (equity ratio -149.7% → -150.5%). Calculated
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Cash fell
Bank deposits 57.4k NOK → 23.2k NOK (-59.6% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is -150.5% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation