ABEL DIGITAL SECURITY AS: årsregnskap 2017 vs 2016
Shrank 79% on revenue, weaker earnings
approved 2018-04-26; registry 2018-05-09; journal 2018 310244
Summary
What changed
Comparing Årsregnskap 2017 with 2016 for ABEL DIGITAL SECURITY AS. Revenue 995.0k NOK → 209.3k NOK (-79.0%). Net result +351.4k NOK → +262.2k NOK. Equity 2.43m NOK → 103.1k NOK.
Pressures included: revenue fell; operating result weakened; net result weakened.
Also worth watching: thin equity buffer; paid-in equity reduced; cogs fell. All figures are taken from the published annual accounts for ABEL DIGITAL SECURITY AS.
At a glance
Scorecard
What deteriorated
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Revenue fell
Operating income / revenue moved from 995.0k NOK to 209.3k NOK (-79.0% YoY). Calculated
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↓
Operating result weakened
Operating result +161.9k NOK → +106.1k NOK (op. margin 16.3% → 50.7%). Calculated
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↓
Net result weakened
Net result +351.4k NOK → +262.2k NOK (net margin 35.3% → 125.3%). Calculated
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↓
Equity eroded
Book equity 2.43m NOK → 103.1k NOK (equity ratio 100.0% → 3.2%). Calculated
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↓
Cash fell
Bank deposits 1.19m NOK → 924.5k NOK (-22.3% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 3.2% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Paid-in equity reduced
Paid-in equity fell 2.02m NOK → 103.1k NOK — check capital reduction, conversion, or reclassification. Interpretation
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COGS fell
COGS / varekostnad 222.9k NOK → 70.8k NOK (-68.2% YoY). Calculated