A MADSSTUEN AS: årsregnskap 2003 vs 2002
Shrank 12% on revenue
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for A MADSSTUEN AS. Revenue 816.3k NOK → 715.1k NOK (-12.4%). Equity 128.7k NOK → -170.2k NOK.
Pressures included: revenue fell; operating result weakened; equity eroded.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for A MADSSTUEN AS.
At a glance
Scorecard
What deteriorated
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Revenue fell
Operating income / revenue moved from 816.3k NOK to 715.1k NOK (-12.4% YoY). Calculated
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Operating result weakened
Operating result +484.0k NOK → -297.4k NOK (op. margin 59.3% → -41.6%). Calculated
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↓
Equity eroded
Book equity 128.7k NOK → -170.2k NOK (equity ratio 10.0% → -11.4%). Calculated
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Payroll up without matching revenue
Salary cost 0 NOK → 6 939 NOK (0% → 1% of revenue). Calculated
Things to notice
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Thin equity buffer
Equity ratio is -11.4% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation