70 NORDVEKST AS: årsregnskap 2005 vs 2004
Grew 33% on revenue, weaker earnings
Summary
What changed
Comparing Årsregnskap 2005 with 2004 for 70 NORDVEKST AS. Revenue 3.70m NOK → 4.93m NOK (+33.2%). Net result +538.2k NOK → +1 659 NOK. Equity 365.3k NOK → -363.6k 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 fell. All figures are taken from the published annual accounts for 70 NORDVEKST AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 3.70m NOK to 4.93m NOK (+33.2% YoY). Calculated
What deteriorated
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↓
Operating result weakened
Operating result +304.9k NOK → +266.5k NOK (op. margin 8.2% → 5.4%). Calculated
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↓
Net result weakened
Net result +538.2k NOK → +1 659 NOK (net margin 14.5% → 0.0%). Calculated
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↓
Equity eroded
Book equity 365.3k NOK → -363.6k NOK (equity ratio 4.0% → -3.8%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 2.46× → 0.20× — 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 -3.8% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Payroll increased
Salary cost 1 NOK → 2.70m NOK (0% → 55% of revenue). Calculated
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·
COGS fell
COGS / varekostnad 543.6k NOK → 468.9k NOK (-13.8% YoY). Calculated