3ELEMENT AS: årsregnskap 2019 vs 2018
Shrank 9% on revenue, slipped into loss
approved 2020-02-29; registry 2020-09-16; journal 2020 822793
Summary
What changed
Comparing Årsregnskap 2019 with 2018 for 3ELEMENT AS. Revenue 3.04m NOK → 2.78m NOK (-8.5%). Net result +24.7k NOK → -112.0k NOK. Equity -354.0k NOK → -466.0k NOK.
On the constructive side: cash rose; current ratio back above 1×. Pressures included: revenue fell; operating result weakened; fell into a net loss.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for 3ELEMENT AS.
At a glance
Scorecard
What improved
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Cash rose
Bank deposits 73.7k NOK → 173.3k NOK (+135.3% YoY). Calculated
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Current ratio back above 1×
Current ratio 0.00× → 19132.97×. Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 3.04m NOK to 2.78m NOK (-8.5% YoY). Calculated
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↓
Operating result weakened
Operating result +217.1k NOK → +46.2k NOK (op. margin 7.1% → 1.7%). Calculated
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Fell into a net loss
Net result flipped from 24.7k NOK profit to a loss of 112.0k NOK. Calculated
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↓
Equity eroded
Book equity -354.0k NOK → -466.0k NOK (equity ratio -10.2% → -13.7%). Calculated
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↓
Payroll up without matching revenue
Salary cost 1.53m NOK → 1.62m NOK (50% → 58% of revenue). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -13.7% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation