3D-ELEKTROSENTER AS: årsregnskap 2004 vs 2003
Grew 12% on revenue
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for 3D-ELEKTROSENTER AS. Revenue 19.16m NOK → 21.44m NOK (+11.9%). Net result +325.2k NOK → +365.0k NOK. Equity 975.8k NOK → 60.8k NOK.
On the constructive side: revenue rose; net result improved. Pressures included: operating result weakened; equity eroded.
Also worth watching: thin equity buffer; payroll increased; cogs moved. All figures are taken from the published annual accounts for 3D-ELEKTROSENTER AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 19.16m NOK to 21.44m NOK (+11.9% YoY). Calculated
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↑
Net result improved
Net result +325.2k NOK → +365.0k NOK (net margin 1.7% → 1.7%). Calculated
What deteriorated
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↓
Operating result weakened
Operating result +7.61m NOK → +188.3k NOK (op. margin 39.7% → 0.9%). Calculated
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↓
Equity eroded
Book equity 975.8k NOK → 60.8k NOK (equity ratio 10.1% → 0.6%). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 0.6% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Payroll increased
Salary cost 3.19m NOK → 3.47m NOK (17% → 16% of revenue). Calculated
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COGS moved
COGS / varekostnad 13.54m NOK → 14.15m NOK (+4.5% YoY). Calculated
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Book investments changed
Investment / intangible book value 890.0k NOK → 584.0k NOK. Reported fact