ABACUS FINANS AS: årsregnskap 2003 vs 2002
Stronger earnings
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for ABACUS FINANS AS. Net result +101.8k NOK → +284.8k NOK. Equity 374.0k NOK → 86.3k NOK.
On the constructive side: operating result improved; net result improved; current ratio back above 1×. Pressures included: equity eroded; cash fell.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for ABACUS FINANS AS.
At a glance
Scorecard
What improved
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↑
Operating result improved
Operating result -31.0k NOK → -26.3k NOK. Calculated
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↑
Net result improved
Net result +101.8k NOK → +284.8k NOK. Calculated
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↑
Current ratio back above 1×
Current ratio 0.38× → 1.91×. Calculated
What deteriorated
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↓
Equity eroded
Book equity 374.0k NOK → 86.3k NOK (equity ratio 64.5% → 6.9%). Calculated
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↓
Cash fell
Bank deposits 270.0k NOK → 238.3k NOK (-11.7% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 6.9% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation