ABAS AS: årsregnskap 2006 vs 2005
Grew 36% on revenue, weaker earnings, cash halved-plus
Summary
What changed
Comparing Årsregnskap 2006 with 2005 for ABAS AS. Revenue 14.71m NOK → 20.00m NOK (+35.9%). Net result +136.5k NOK → +67.1k NOK. Equity 774.2k NOK → 841.3k NOK.
On the constructive side: revenue rose; operating result improved; equity strengthened. Pressures included: net result weakened; cash fell.
Also worth watching: thin equity buffer; sharp cash drawdown; payroll increased. All figures are taken from the published annual accounts for ABAS AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 14.71m NOK to 20.00m NOK (+35.9% YoY). Calculated
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Operating result improved
Operating result -844.3k NOK → -388.2k NOK (op. margin -5.7% → -1.9%). Calculated
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Equity strengthened
Book equity 774.2k NOK → 841.3k NOK (equity ratio 23.3% → 6.3%). Calculated
What deteriorated
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Net result weakened
Net result +136.5k NOK → +67.1k NOK (net margin 0.9% → 0.3%). Calculated
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Cash fell
Bank deposits 1.02m NOK → 218.4k NOK (-78.7% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 6.3% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Sharp cash drawdown
Cash fell by more than 60% YoY (1.02m NOK → 218.4k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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Payroll increased
Salary cost 6 NOK → 1.09m NOK (0% → 5% of revenue). Calculated
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COGS moved
COGS / varekostnad 13.44m NOK → 17.74m NOK (+32.0% YoY). Calculated
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Book investments changed
Investment / intangible book value 174.8k NOK → 18.0k NOK. Reported fact