A MADSSTUEN AS: årsregnskap 2004 vs 2003
Grew 11% on revenue
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for A MADSSTUEN AS. Revenue 715.1k NOK → 792.0k NOK (+10.8%). Equity -170.2k NOK → -457.9k NOK.
On the constructive side: revenue rose; operating result improved. Pressures included: equity eroded.
Also worth watching: thin equity buffer; payroll increased. All figures are taken from the published annual accounts for A MADSSTUEN AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 715.1k NOK to 792.0k NOK (+10.8% YoY). Calculated
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↑
Operating result improved
Operating result -297.4k NOK → -288.6k NOK (op. margin -41.6% → -36.4%). Calculated
What deteriorated
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↓
Equity eroded
Book equity -170.2k NOK → -457.9k NOK (equity ratio -11.4% → -24.7%). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -24.7% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Payroll increased
Salary cost 6 939 NOK → 56.9k NOK (1% → 7% of revenue). Calculated