3 Q NORGE AS: årsregnskap 2020 vs 2019
Grew 36% on revenue, stronger earnings
approved 2021-05-27; registry 2021-06-23; journal 2021 388982
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for 3 Q NORGE AS. Revenue 1.41m NOK → 1.91m NOK (+35.7%). Net result +75.2k NOK → +420.9k NOK. Equity 236.0k NOK → 10 NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: equity eroded; current ratio dropped below 1×.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for 3 Q NORGE AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 1.41m NOK to 1.91m NOK (+35.7% YoY). Calculated
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Operating result improved
Operating result +81.0k NOK → +539.3k NOK (op. margin 5.7% → 28.2%). Calculated
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Net result improved
Net result +75.2k NOK → +420.9k NOK (net margin 5.3% → 22.0%). Calculated
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Cash rose
Bank deposits 596.8k NOK → 645.4k NOK (+8.1% YoY). Calculated
What deteriorated
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↓
Equity eroded
Book equity 236.0k NOK → 10 NOK (equity ratio 29.3% → 0.0%). Calculated
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Current ratio dropped below 1×
Current ratio 1.37× → 0.17× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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Thin equity buffer
Equity ratio is 0.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation