4H-VEST AS: årsregnskap 2003 vs 2002
Grew 64% on revenue, returned to profit
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for 4H-VEST AS. Revenue 295.6k NOK → 486.1k NOK (+64.4%). Net result -209.9k NOK → +610.8k NOK. Equity 1.85m NOK → 2.46m NOK.
On the constructive side: revenue rose; operating result improved; turned profitable. Pressures included: current ratio dropped below 1×.
Also worth watching: cogs fell; book investments changed. All figures are taken from the published annual accounts for 4H-VEST AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 295.6k NOK to 486.1k NOK (+64.4% YoY). Calculated
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Operating result improved
Operating result +58.7k NOK → +222.1k NOK (op. margin 19.9% → 45.7%). Calculated
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Turned profitable
Net result flipped from a loss of 209.9k NOK to a profit of 610.8k NOK. Calculated
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Equity strengthened
Book equity 1.85m NOK → 2.46m NOK (equity ratio 42.4% → 54.9%). Calculated
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Payroll decreased
Salary cost 36.3k NOK → 9 844 NOK (12% → 2% of revenue). Calculated
What deteriorated
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↓
Current ratio dropped below 1×
Current ratio 1.57× → 0.05× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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·
COGS fell
COGS / varekostnad 91.6k NOK → 2 790 NOK (-97.0% YoY). Calculated
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·
Book investments changed
Investment / intangible book value 224.4k NOK → 170.0k NOK. Reported fact