ABRY DESIGN AS: årsregnskap 2005 vs 2004
Shrank 29% on revenue, weaker earnings
Summary
What changed
Comparing Årsregnskap 2005 with 2004 for ABRY DESIGN AS. Revenue 3.22m NOK → 2.28m NOK (-29.1%). Net result -41.7k NOK → -451.0k NOK. Equity 648.7k NOK → 197.8k NOK.
On the constructive side: operating result improved; payroll decreased. Pressures included: revenue fell; net result weakened; equity eroded.
Also worth watching: thin equity buffer; cogs fell; book investments changed. All figures are taken from the published annual accounts for ABRY DESIGN AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result +87.5k NOK → +129.4k NOK (op. margin 2.7% → 5.7%). Calculated
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Payroll decreased
Salary cost 2.08m NOK → 1.22m NOK (65% → 53% of revenue). Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 3.22m NOK to 2.28m NOK (-29.1% YoY). Calculated
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Net result weakened
Net result -41.7k NOK → -451.0k NOK (net margin -1.3% → -19.8%). Calculated
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Equity eroded
Book equity 648.7k NOK → 197.8k NOK (equity ratio 19.0% → 8.2%). Calculated
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Cash fell
Bank deposits 70.4k NOK → 60.7k NOK (-13.8% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 8.2% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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COGS fell
COGS / varekostnad 69.0k NOK → 21.5k NOK (-68.8% YoY). Calculated
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Book investments changed
Investment / intangible book value 909.5k NOK → 709.5k NOK. Reported fact