68 GRADER ARCTIC SERVICE AS: årsregnskap 2023 vs 2022
Grew 67040% on revenue, stronger earnings
approved 2024-03-12; registry 2024-07-20; journal 2024 658240
Summary
What changed
Comparing Årsregnskap 2023 with 2022 for 68 GRADER ARCTIC SERVICE AS. Revenue 3 686 NOK → 2.47m NOK (+67039.6%). Net result -309.5k NOK → -169.9k NOK. Equity -169.5k NOK → -339.5k NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: equity eroded; current ratio dropped below 1×.
Also worth watching: thin equity buffer; payroll increased; cogs moved. All figures are taken from the published annual accounts for 68 GRADER ARCTIC SERVICE AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 3 686 NOK to 2.47m NOK (+67039.6% YoY). Calculated
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Operating result improved
Operating result -295.2k NOK → -163.7k NOK (op. margin -8007.7% → -6.6%). Calculated
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Net result improved
Net result -309.5k NOK → -169.9k NOK (net margin -8397.2% → -6.9%). Calculated
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Cash rose
Bank deposits 107.1k NOK → 185.6k NOK (+73.3% YoY). Calculated
What deteriorated
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↓
Equity eroded
Book equity -169.5k NOK → -339.5k NOK (equity ratio -7.4% → -24.3%). Calculated
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Current ratio dropped below 1×
Current ratio 571.85× → 0.37× — 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 -24.3% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Payroll increased
Salary cost 2 NOK → 1.58m NOK (0% → 64% of revenue). Calculated
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COGS moved
COGS / varekostnad 1 170 NOK → 823.8k NOK (+70313.4% YoY). Calculated