A.C.E FASHIONSTORE AS: årsregnskap 2005 vs 2004
Grew 68% on revenue, slipped into loss
Summary
What changed
Comparing Årsregnskap 2005 with 2004 for A.C.E FASHIONSTORE AS. Revenue 1.27m NOK → 2.13m NOK (+67.7%). Net result +32.6k NOK → -128.7k NOK. Equity 103.3k NOK → -25.4k NOK.
On the constructive side: revenue rose; cash rose. Pressures included: operating result weakened; fell into a net loss; equity eroded.
Also worth watching: thin equity buffer; payroll increased; cogs moved. All figures are taken from the published annual accounts for A.C.E FASHIONSTORE AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 1.27m NOK to 2.13m NOK (+67.7% YoY). Calculated
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↑
Cash rose
Bank deposits 17.8k NOK → 37.6k NOK (+111.0% YoY). Calculated
What deteriorated
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↓
Operating result weakened
Operating result +50.6k NOK → -100.0k NOK (op. margin 4.0% → -4.7%). Calculated
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↓
Fell into a net loss
Net result flipped from 32.6k NOK profit to a loss of 128.7k NOK. Calculated
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↓
Equity eroded
Book equity 103.3k NOK → -25.4k NOK (equity ratio 22.0% → -4.1%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.19× → 0.85× — 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 -4.1% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Payroll increased
Salary cost 478.1k NOK → 2.62m NOK (38% → 123% of revenue). Calculated
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COGS moved
COGS / varekostnad 1.27m NOK → 1.28m NOK (+0.5% YoY). Calculated