3ANGLE AS: årsregnskap 2003 vs 2002
Shrank 33% on revenue
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for 3ANGLE AS. Revenue 589.6k NOK → 392.5k NOK (-33.4%). Equity 72.8k NOK → -36.2k NOK.
On the constructive side: operating result improved; payroll decreased. Pressures included: revenue fell; equity eroded; cogs moved.
Also worth watching: thin equity buffer; book investments changed. All figures are taken from the published annual accounts for 3ANGLE AS.
At a glance
Scorecard
What improved
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↑
Operating result improved
Operating result -435.7k NOK → -107.1k NOK (op. margin -73.9% → -27.3%). Calculated
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Payroll decreased
Salary cost 565.9k NOK → 165.9k NOK (96% → 42% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 589.6k NOK to 392.5k NOK (-33.4% YoY). Calculated
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↓
Equity eroded
Book equity 72.8k NOK → -36.2k NOK (equity ratio 20.5% → -25.7%). Calculated
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↓
COGS moved
COGS / varekostnad 58.0k NOK → 68.0k NOK (+17.3% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -25.7% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Book investments changed
Investment / intangible book value 2 682 NOK → 0 NOK. Reported fact