A O GREVSTAD EIENDOM AS: årsregnskap 2003 vs 2002
Shrank 34% on revenue
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for A O GREVSTAD EIENDOM AS. Revenue 10.02m NOK → 6.63m NOK (-33.8%). Equity 12.17m NOK → 4.95m NOK.
On the constructive side: operating result improved. Pressures included: revenue fell; equity eroded; current ratio dropped below 1×.
Also worth watching: paid-in equity reduced; book investments changed. All figures are taken from the published annual accounts for A O GREVSTAD EIENDOM AS.
At a glance
Scorecard
What improved
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↑
Operating result improved
Operating result +580.0k NOK → +2.96m NOK (op. margin 5.8% → 44.6%). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 10.02m NOK to 6.63m NOK (-33.8% YoY). Calculated
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↓
Equity eroded
Book equity 12.17m NOK → 4.95m NOK (equity ratio 33.9% → 10.0%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.46× → 0.18× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
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↓
Payroll up without matching revenue
Salary cost 3.45m NOK → 3.79m NOK (34% → 57% of revenue). Calculated
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↓
COGS moved
COGS / varekostnad 36.2k NOK → 43.7k NOK (+20.8% YoY). Calculated
Things to notice
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·
Paid-in equity reduced
Paid-in equity fell 60.0k NOK → 156 NOK — check capital reduction, conversion, or reclassification. Interpretation
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·
Book investments changed
Investment / intangible book value 40.7k NOK → 634.5k NOK. Reported fact