A/S Viktor Baumannsvei 34-38: årsregnskap 2004 vs 2003
Grew 18% on revenue, stronger earnings
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for A/S Viktor Baumannsvei 34-38. Revenue 478.9k NOK → 565.4k NOK (+18.1%). Net result +43.7k NOK → +95.0k NOK. Equity 163.1k NOK → 68.1k NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: equity eroded.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for A/S Viktor Baumannsvei 34-38.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 478.9k NOK to 565.4k NOK (+18.1% YoY). Calculated
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Operating result improved
Operating result +62.3k NOK → +147.3k NOK (op. margin 13.0% → 26.1%). Calculated
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Net result improved
Net result +43.7k NOK → +95.0k NOK (net margin 9.1% → 16.8%). Calculated
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Cash rose
Bank deposits 539.8k NOK → 544.4k NOK (+0.8% YoY). Calculated
What deteriorated
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↓
Equity eroded
Book equity 163.1k NOK → 68.1k NOK (equity ratio 10.9% → 4.5%). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 4.5% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation