A.C.E FASHIONSTORE AS: årsregnskap 2006 vs 2005
Grew 9% on revenue, weaker earnings, cash halved-plus
Summary
What changed
Comparing Årsregnskap 2006 with 2005 for A.C.E FASHIONSTORE AS. Revenue 2.13m NOK → 2.33m NOK (+9.2%). Net result -128.7k NOK → -170.4k NOK. Equity -25.4k NOK → -140.9k NOK.
On the constructive side: revenue rose; current ratio back above 1×; payroll decreased. Pressures included: operating result weakened; net result weakened; equity eroded.
Also worth watching: thin equity buffer; paid-in equity reduced; 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 2.13m NOK to 2.33m NOK (+9.2% YoY). Calculated
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Current ratio back above 1×
Current ratio 0.85× → 1.07×. Calculated
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↑
Payroll decreased
Salary cost 2.62m NOK → 578.5k NOK (123% → 25% of revenue). Calculated
What deteriorated
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↓
Operating result weakened
Operating result -100.0k NOK → -128.9k NOK (op. margin -4.7% → -5.5%). Calculated
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↓
Net result weakened
Net result -128.7k NOK → -170.4k NOK (net margin -6.0% → -7.3%). Calculated
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↓
Equity eroded
Book equity -25.4k NOK → -140.9k NOK (equity ratio -4.1% → -26.5%). Calculated
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↓
Cash fell
Bank deposits 37.6k NOK → 15.7k NOK (-58.2% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -26.5% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Paid-in equity reduced
Paid-in equity fell 100.0k NOK → 155 NOK — check capital reduction, conversion, or reclassification. Interpretation
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·
COGS moved
COGS / varekostnad 1.28m NOK → 1.49m NOK (+17.1% YoY). Calculated