99X TECHNOLOGY AS: årsregnskap 2019 vs 2018
Shrank 37% on revenue, slipped into loss, cash halved-plus
approved 2020-04-06; registry 2020-05-07; journal 2020 339187
Summary
What changed
Comparing Årsregnskap 2019 with 2018 for 99X TECHNOLOGY AS. Revenue 2.53m NOK → 1.58m NOK (-37.5%). Net result +79.5k NOK → -617.2k NOK. Equity 475.2k NOK → 11 NOK.
On the constructive side: payroll decreased. Pressures included: revenue fell; operating result weakened; fell into a net loss.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for 99X TECHNOLOGY AS.
At a glance
Scorecard
What improved
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↑
Payroll decreased
Salary cost 2.34m NOK → 0 NOK (93% → 0% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 2.53m NOK to 1.58m NOK (-37.5% YoY). Calculated
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↓
Operating result weakened
Operating result +107.0k NOK → -618.0k NOK (op. margin 4.2% → -39.1%). Calculated
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↓
Fell into a net loss
Net result flipped from 79.5k NOK profit to a loss of 617.2k NOK. Calculated
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↓
Equity eroded
Book equity 475.2k NOK → 11 NOK (equity ratio 61.0% → 0.0%). Calculated
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↓
Cash fell
Bank deposits 506.3k NOK → 186.5k NOK (-63.2% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 0.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation