ABEL TECHNOLOGIES AS: årsregnskap 2018 vs 2017
Weaker earnings, cash halved-plus
approved 2019-05-31; registry 2019-06-22; journal 2019 494363
Summary
What changed
Comparing Årsregnskap 2018 with 2017 for ABEL TECHNOLOGIES AS. Net result -183.1k NOK → -756.1k NOK. Equity 259.7k NOK → -909.2k NOK.
Pressures included: operating result weakened; net result weakened; equity eroded.
Also worth watching: thin equity buffer; paid-in equity reduced; payroll increased. All figures are taken from the published annual accounts for ABEL TECHNOLOGIES AS.
At a glance
Scorecard
What deteriorated
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↓
Operating result weakened
Operating result -183.2k NOK → -755.9k NOK. Calculated
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↓
Net result weakened
Net result -183.1k NOK → -756.1k NOK. Calculated
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↓
Equity eroded
Book equity 259.7k NOK → -909.2k NOK (equity ratio 99.7% → -3410.9%). Calculated
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↓
Cash fell
Bank deposits 259.8k NOK → 24.4k NOK (-90.6% YoY). Calculated
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↓
Current ratio dropped below 1×
Current ratio 312.39× → 0.03× — 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 -3410.9% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Paid-in equity reduced
Paid-in equity fell 442.9k NOK → 30.0k NOK — check capital reduction, conversion, or reclassification. Interpretation
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·
Payroll increased
Salary cost 6 834 NOK → 4.17m NOK. Calculated