AB Invest A/S: årsregnskap 2003 vs 2002
Weaker earnings, cash halved-plus
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for AB Invest A/S. Revenue 0 NOK → 0 NOK (0.0%). Net result +5.18m NOK → +1.85m NOK. Equity 19.11m NOK → 17.26m NOK.
On the constructive side: operating result improved; payroll decreased. Pressures included: net result weakened; equity eroded; cash fell.
Also worth watching: sharp cash drawdown; book investments changed. All figures are taken from the published annual accounts for AB Invest A/S.
At a glance
Scorecard
What improved
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↑
Operating result improved
Operating result +520.1k NOK → +12.69m NOK. Calculated
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↑
Payroll decreased
Salary cost 8 190 NOK → 8 NOK. Calculated
What deteriorated
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↓
Net result weakened
Net result +5.18m NOK → +1.85m NOK. Calculated
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↓
Equity eroded
Book equity 19.11m NOK → 17.26m NOK (equity ratio 15.6% → 15.0%). Calculated
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↓
Cash fell
Bank deposits 35.94m NOK → 475.7k NOK (-98.7% YoY). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.02× → 0.99× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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·
Sharp cash drawdown
Cash fell by more than 60% YoY (35.94m NOK → 475.7k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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·
Book investments changed
Investment / intangible book value 7.57m NOK → 32.9k NOK. Reported fact