ABEL CAPITAL MANAGEMENT AS: årsregnskap 2018 vs 2017
Grew 7640% on revenue, weaker earnings, cash halved-plus
approved 2019-05-31; registry 2019-07-31; journal 2019 868742
Summary
What changed
Comparing Årsregnskap 2018 with 2017 for ABEL CAPITAL MANAGEMENT AS. Revenue 1 126 NOK → 87.2k NOK (+7639.8%). Net result -76.4k NOK → -121.9k NOK. Equity 35.0k NOK → -86.9k NOK.
On the constructive side: revenue rose; payroll decreased. Pressures included: net result weakened; equity eroded; cash fell.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for ABEL CAPITAL MANAGEMENT AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 1 126 NOK to 87.2k NOK (+7639.8% YoY). Calculated
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Payroll decreased
Salary cost 4.98m NOK → 181.0k NOK (442572% → 208% of revenue). Calculated
What deteriorated
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↓
Net result weakened
Net result -76.4k NOK → -121.9k NOK (net margin -6784.7% → -139.9%). Calculated
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↓
Equity eroded
Book equity 35.0k NOK → -86.9k NOK (equity ratio 11.5% → -969.8%). Calculated
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↓
Cash fell
Bank deposits 248.4k NOK → 8 959 NOK (-96.4% YoY). Calculated
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Current ratio dropped below 1×
Current ratio 1.13× → 0.09× — 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 -969.8% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation