A.K. DRIFT AS: årsregnskap 2018 vs 2017
Slipped into loss, cash halved-plus
approved 2019-07-18; registry 2019-07-27; journal 2019 802030
Summary
What changed
Comparing Årsregnskap 2018 with 2017 for A.K. DRIFT AS. Revenue 354.9k NOK → 354.9k NOK (0.0%). Net result +25.0k NOK → -46.5k NOK. Equity -125.9k NOK → -172.4k NOK.
On the constructive side: payroll decreased. Pressures included: operating result weakened; fell into a net loss; equity eroded.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for A.K. DRIFT AS.
At a glance
Scorecard
What improved
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↑
Payroll decreased
Salary cost 11.29m NOK → 11.5k NOK (3182% → 3% of revenue). Calculated
What deteriorated
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↓
Operating result weakened
Operating result +29.1k NOK → -46.5k NOK (op. margin 8.2% → -13.1%). Calculated
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↓
Fell into a net loss
Net result flipped from 25.0k NOK profit to a loss of 46.5k NOK. Calculated
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↓
Equity eroded
Book equity -125.9k NOK → -172.4k NOK (equity ratio -20.6% → -28.2%). Calculated
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↓
Cash fell
Bank deposits 10.9k NOK → 13 NOK (-99.9% YoY). Calculated
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↓
COGS moved
COGS / varekostnad 34.0k NOK → 46.0k NOK (+35.3% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -28.2% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation