A/S SørMek: årsregnskap 2006 vs 2005
Shrank 20% on revenue, slipped into loss
Summary
What changed
Comparing Årsregnskap 2006 with 2005 for A/S SørMek. Revenue 19.20m NOK → 15.44m NOK (-19.6%). Net result +690.9k NOK → -1.01m NOK. Equity 840.4k NOK → -170.8k NOK.
On the constructive side: cash rose; payroll decreased. Pressures included: revenue fell; operating result weakened; fell into a net loss.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for A/S SørMek.
At a glance
Scorecard
What improved
-
↑
Cash rose
Bank deposits 231.4k NOK → 356.8k NOK (+54.2% YoY). Calculated
-
↑
Payroll decreased
Salary cost 5.33m NOK → 4.82m NOK (28% → 31% of revenue). Calculated
What deteriorated
-
↓
Revenue fell
Operating income / revenue moved from 19.20m NOK to 15.44m NOK (-19.6% YoY). Calculated
-
↓
Operating result weakened
Operating result +997.0k NOK → -1.13m NOK (op. margin 5.2% → -7.3%). Calculated
-
↓
Fell into a net loss
Net result flipped from 690.9k NOK profit to a loss of 1.01m NOK. Calculated
-
↓
Equity eroded
Book equity 840.4k NOK → -170.8k NOK (equity ratio 10.0% → -1.3%). Calculated
-
↓
Current ratio dropped below 1×
Current ratio 1.13× → 0.89× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
-
·
Thin equity buffer
Equity ratio is -1.3% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation