2TEC AS: årsregnskap 2020 vs 2019
Shrank 98% on revenue, slipped into loss, cash halved-plus
approved 2021-08-29; registry 2021-08-31; journal 2021 701445
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for 2TEC AS. Revenue 167.4k NOK → 3 600 NOK (-97.8%). Net result +36.1k NOK → -24.0k NOK. Equity -6 145 NOK → -30.2k NOK.
On the constructive side: operating result improved; owners injected capital; payroll decreased. Pressures included: revenue fell; fell into a net loss; equity eroded.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for 2TEC AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result -36.2k NOK → -24.0k NOK (op. margin -21.6% → -667.0%). Calculated
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Owners injected capital
Paid-in equity rose 24.3k NOK → 30.0k NOK (+5 666 NOK). Reported fact
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Payroll decreased
Salary cost 3.18m NOK → 3 176 NOK (1898% → 88% of revenue). Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 167.4k NOK to 3 600 NOK (-97.8% YoY). Calculated
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Fell into a net loss
Net result flipped from 36.1k NOK profit to a loss of 24.0k NOK. Calculated
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Equity eroded
Book equity -6 145 NOK → -30.2k NOK (equity ratio -5.1% → -158.1%). Calculated
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Cash fell
Bank deposits 97.6k NOK → 1 775 NOK (-98.2% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is -158.1% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation