3ELEMENT AS: årsregnskap 2020 vs 2019
Shrank 20% on revenue, stronger earnings, cash halved-plus
approved 2021-01-29; registry 2021-05-31; journal 2021 346999
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for 3ELEMENT AS. Revenue 2.78m NOK → 2.22m NOK (-20.1%). Net result -112.0k NOK → -11.6k NOK. Equity -466.0k NOK → -477.7k NOK.
On the constructive side: operating result improved; net result improved; payroll decreased. Pressures included: revenue fell; equity eroded; cash fell.
Also worth watching: cogs fell; headcount (årsverk) changed. All figures are taken from the published annual accounts for 3ELEMENT AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result +46.2k NOK → +150.2k NOK (op. margin 1.7% → 6.8%). Calculated
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Net result improved
Net result -112.0k NOK → -11.6k NOK (net margin -4.0% → -0.5%). Calculated
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Payroll decreased
Salary cost 1.62m NOK → 1.45m NOK (58% → 65% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 2.78m NOK to 2.22m NOK (-20.1% YoY). Calculated
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Equity eroded
Book equity -466.0k NOK → -477.7k NOK (equity ratio -13.7% → -13.6%). Calculated
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Cash fell
Bank deposits 173.3k NOK → 68.6k NOK (-60.4% YoY). Calculated
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Current ratio dropped below 1×
Current ratio 19132.97× → 0.13× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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·
COGS fell
COGS / varekostnad 657.7k NOK → 91.2k NOK (-86.1% YoY). Calculated
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Headcount (årsverk) changed
Reported FTEs 3 → 2. Reported fact