A MARINE AS: årsregnskap 2004 vs 2003
Slipped into loss
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for A MARINE AS. Revenue 178.3k NOK → 178.3k NOK (0.0%). Net result +110.9k NOK → -118.3k NOK. Equity 588.9k NOK → -707.2k NOK.
Pressures included: fell into a net loss; equity eroded; current ratio dropped below 1×.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for A MARINE AS.
At a glance
Scorecard
What deteriorated
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Fell into a net loss
Net result flipped from 110.9k NOK profit to a loss of 118.3k NOK. Calculated
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Equity eroded
Book equity 588.9k NOK → -707.2k NOK (equity ratio 741.9% → -1827.1%). Calculated
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Current ratio dropped below 1×
Current ratio 1.19× → 0.32× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
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Payroll up without matching revenue
Salary cost 2 NOK → 71.7k NOK (0% → 40% of revenue). Calculated
Things to notice
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Thin equity buffer
Equity ratio is -1827.1% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation