A-CIRCLE AS: årsregnskap 2004 vs 2003
Shrank 39% on revenue, slipped into loss
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for A-CIRCLE AS. Revenue 900.0k NOK → 545.1k NOK (-39.4%). Net result +33.5k NOK → -58.6k NOK. Equity 76.3k NOK → 17.7k NOK.
On the constructive side: payroll decreased. Pressures included: revenue fell; fell into a net loss; equity eroded.
Also worth watching: thin equity buffer; book investments changed. All figures are taken from the published annual accounts for A-CIRCLE AS.
At a glance
Scorecard
What improved
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↑
Payroll decreased
Salary cost 771.2k NOK → 186.8k NOK (86% → 34% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 900.0k NOK to 545.1k NOK (-39.4% YoY). Calculated
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↓
Fell into a net loss
Net result flipped from 33.5k NOK profit to a loss of 58.6k NOK. Calculated
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↓
Equity eroded
Book equity 76.3k NOK → 17.7k NOK (equity ratio 27.0% → 7.9%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.31× → 0.48× — 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 7.9% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Book investments changed
Investment / intangible book value 1 000 NOK → 91.0k NOK. Reported fact