A/S SCAN AFRICAN: årsregnskap 2005 vs 2004
Grew 213% on revenue, weaker earnings
Summary
What changed
Comparing Årsregnskap 2005 with 2004 for A/S SCAN AFRICAN. Revenue 395.9k NOK → 1.24m NOK (+213.3%). Net result +217.0k NOK → +151.7k NOK. Equity 2.21m NOK → 2.36m NOK.
On the constructive side: revenue rose; equity strengthened. Pressures included: operating result weakened; net result weakened; current ratio dropped below 1×.
Also worth watching: payroll increased; cogs fell; book investments changed. All figures are taken from the published annual accounts for A/S SCAN AFRICAN.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 395.9k NOK to 1.24m NOK (+213.3% YoY). Calculated
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Equity strengthened
Book equity 2.21m NOK → 2.36m NOK (equity ratio 46.3% → 48.1%). Calculated
What deteriorated
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↓
Operating result weakened
Operating result +403.6k NOK → +262.1k NOK (op. margin 101.9% → 21.1%). Calculated
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↓
Net result weakened
Net result +217.0k NOK → +151.7k NOK (net margin 54.8% → 12.2%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 2.75× → 0.38× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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Payroll increased
Salary cost 490.2k NOK → 592.4k NOK (124% → 48% of revenue). Calculated
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COGS fell
COGS / varekostnad 78.2k NOK → -5 457 NOK (-107.0% YoY). Calculated
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·
Book investments changed
Investment / intangible book value 17.4k NOK → 817.4k NOK. Reported fact