A. Vikhagen AS: årsregnskap 2004 vs 2003
Shrank 26% on revenue, stronger earnings
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for A. Vikhagen AS. Revenue 3.92m NOK → 2.91m NOK (-25.6%). Net result -150.2k NOK → -119.9k NOK. Equity 168.9k NOK → 48.9k NOK.
On the constructive side: net result improved. Pressures included: revenue fell; operating result weakened; equity eroded.
Also worth watching: thin equity buffer; cogs fell. All figures are taken from the published annual accounts for A. Vikhagen AS.
At a glance
Scorecard
What improved
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↑
Net result improved
Net result -150.2k NOK → -119.9k NOK (net margin -3.8% → -4.1%). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 3.92m NOK to 2.91m NOK (-25.6% YoY). Calculated
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↓
Operating result weakened
Operating result +23.2k NOK → -152.8k NOK (op. margin 0.6% → -5.2%). Calculated
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↓
Equity eroded
Book equity 168.9k NOK → 48.9k NOK. Calculated
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↓
Current ratio dropped below 1×
Current ratio 689.55× → 0.00× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 4.1% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
COGS fell
COGS / varekostnad 1.77m NOK → 1.32m NOK (-25.4% YoY). Calculated