ABC CLAUSEN AS: årsregnskap 2003 vs 2002
Grew 16% on revenue
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for ABC CLAUSEN AS. Revenue 9.06m NOK → 10.48m NOK (+15.7%). Net result +166.4k NOK → +180.8k NOK. Equity 196.7k NOK → 15.9k NOK.
On the constructive side: revenue rose; net result improved; cash rose. Pressures included: equity eroded; current ratio dropped below 1×.
Also worth watching: thin equity buffer; cogs moved. All figures are taken from the published annual accounts for ABC CLAUSEN AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 9.06m NOK to 10.48m NOK (+15.7% YoY). Calculated
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Net result improved
Net result +166.4k NOK → +180.8k NOK (net margin 1.8% → 1.7%). Calculated
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Cash rose
Bank deposits 175.9k NOK → 477.8k NOK (+171.7% YoY). Calculated
What deteriorated
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↓
Equity eroded
Book equity 196.7k NOK → 15.9k NOK (equity ratio 9.9% → 0.6%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.16× → 0.94× — 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 0.6% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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COGS moved
COGS / varekostnad 6.76m NOK → 8.01m NOK (+18.4% YoY). Calculated