3RD FLOOR AS: årsregnskap 2020 vs 2019
Shrank 42% on revenue, weaker earnings, cash halved-plus
approved 2021-08-31; registry 2021-10-26; journal 2021 871060
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for 3RD FLOOR AS. Revenue 9.16m NOK → 5.28m NOK (-42.4%). Net result -22.4k NOK → -1.32m NOK. Equity -666.3k NOK → -2.30m NOK.
On the constructive side: payroll decreased. Pressures included: revenue fell; operating result weakened; net result weakened.
Also worth watching: thin equity buffer; cogs fell. All figures are taken from the published annual accounts for 3RD FLOOR AS.
At a glance
Scorecard
What improved
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↑
Payroll decreased
Salary cost 3.45m NOK → 2.40m NOK (38% → 45% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 9.16m NOK to 5.28m NOK (-42.4% YoY). Calculated
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↓
Operating result weakened
Operating result -22.5k NOK → -1.32m NOK (op. margin -0.2% → -25.1%). Calculated
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↓
Net result weakened
Net result -22.4k NOK → -1.32m NOK (net margin -0.2% → -25.1%). Calculated
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↓
Equity eroded
Book equity -666.3k NOK → -2.30m NOK (equity ratio -47.1% → -276.2%). Calculated
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↓
Cash fell
Bank deposits 275.1k NOK → 96.0k NOK (-65.1% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -276.2% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
COGS fell
COGS / varekostnad 2.86m NOK → 1.35m NOK (-52.8% YoY). Calculated