A.C.E FASHIONSTORE AS: årsregnskap 2020 vs 2019
Shrank 25% on revenue, slipped into loss
approved 2021-08-17; registry 2021-08-19; journal 2021 647663
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for A.C.E FASHIONSTORE AS. Revenue 3.64m NOK → 2.74m NOK (-24.8%). Net result +35.1k NOK → -551.7k NOK. Equity 323.1k NOK → -228.6k NOK.
On the constructive side: cash rose; payroll decreased. Pressures included: revenue fell; operating result weakened; fell into a net loss.
Also worth watching: thin equity buffer; cogs fell. 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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↑
Cash rose
Bank deposits 92.1k NOK → 148.7k NOK (+61.4% YoY). Calculated
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↑
Payroll decreased
Salary cost 645.0k NOK → 449.0k NOK (18% → 16% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 3.64m NOK to 2.74m NOK (-24.8% YoY). Calculated
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↓
Operating result weakened
Operating result +113.2k NOK → -501.7k NOK (op. margin 3.1% → -18.3%). Calculated
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↓
Fell into a net loss
Net result flipped from 35.1k NOK profit to a loss of 551.7k NOK. Calculated
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↓
Equity eroded
Book equity 323.1k NOK → -228.6k NOK (equity ratio 19.4% → -19.1%). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -19.1% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
COGS fell
COGS / varekostnad 2.31m NOK → 1.87m NOK (-19.0% YoY). Calculated