4CASTGROUP AS: årsregnskap 2004 vs 2003
Grew 6% on revenue, weaker earnings
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for 4CASTGROUP AS. Revenue 12.25m NOK → 12.93m NOK (+5.6%). Net result -103.6k NOK → -173.2k NOK. Equity 419.8k NOK → 246.6k NOK.
On the constructive side: revenue rose. Pressures included: operating result weakened; net result weakened; equity eroded.
Also worth watching: thin equity buffer; payroll increased; cogs moved. All figures are taken from the published annual accounts for 4CASTGROUP AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 12.25m NOK to 12.93m NOK (+5.6% YoY). Calculated
What deteriorated
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↓
Operating result weakened
Operating result -155.1k NOK → -169.0k NOK (op. margin -1.3% → -1.3%). Calculated
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↓
Net result weakened
Net result -103.6k NOK → -173.2k NOK (net margin -0.8% → -1.3%). Calculated
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↓
Equity eroded
Book equity 419.8k NOK → 246.6k NOK (equity ratio 5.7% → 3.7%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.02× → 0.97× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 3.7% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Payroll increased
Salary cost 6.68m NOK → 7.07m NOK (55% → 55% of revenue). Calculated
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·
COGS moved
COGS / varekostnad 2.23m NOK → 2.44m NOK (+9.4% YoY). Calculated
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·
Book investments changed
Investment / intangible book value 141.7k NOK → 121.0k NOK. Reported fact