99X INCREO AS: årsregnskap 2004 vs 2003
Grew 7% on revenue, stronger earnings
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for 99X INCREO AS. Revenue 2.27m NOK → 2.44m NOK (+7.5%). Net result +199.1k NOK → +312.5k NOK. Equity 215.3k NOK → 102.2k 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: payroll increased; cogs moved. All figures are taken from the published annual accounts for 99X INCREO AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 2.27m NOK to 2.44m NOK (+7.5% YoY). Calculated
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↑
Operating result improved
Operating result +277.5k NOK → +411.5k NOK (op. margin 12.2% → 16.9%). Calculated
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↑
Net result improved
Net result +199.1k NOK → +312.5k NOK (net margin 8.8% → 12.8%). Calculated
What deteriorated
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↓
Equity eroded
Book equity 215.3k NOK → 102.2k NOK (equity ratio 19536.9% → 45.1%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.89× → 0.80× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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·
Payroll increased
Salary cost 769.1k NOK → 1.13m NOK (34% → 46% of revenue). Calculated
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·
COGS moved
COGS / varekostnad 359.5k NOK → 401.7k NOK (+11.7% YoY). Calculated