ABYSS GROUP AS: årsregnskap 2020 vs 2019
Grew 21% on revenue, stronger earnings, cash halved-plus
approved 2021-04-27; registry 2021-06-14; journal 2021 303864
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for ABYSS GROUP AS. Revenue 12.08m NOK → 14.57m NOK (+20.6%). Net result +69.2k NOK → +153.0k NOK. Equity 22.12m NOK → 22.27m NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: cash fell; current ratio dropped below 1×.
Also worth watching: sharp cash drawdown; payroll increased; cogs moved. All figures are taken from the published annual accounts for ABYSS GROUP AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 12.08m NOK to 14.57m NOK (+20.6% YoY). Calculated
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Operating result improved
Operating result +118.3k NOK → +137.5k NOK (op. margin 1.0% → 0.9%). Calculated
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Net result improved
Net result +69.2k NOK → +153.0k NOK (net margin 0.6% → 1.1%). Calculated
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Equity strengthened
Book equity 22.12m NOK → 22.27m NOK (equity ratio 85.5% → 76.7%). Calculated
What deteriorated
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Cash fell
Bank deposits 9.22m NOK → 711.5k NOK (-92.3% YoY). Calculated
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Current ratio dropped below 1×
Current ratio 20.17× → 0.94× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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Sharp cash drawdown
Cash fell by more than 60% YoY (9.22m NOK → 711.5k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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Payroll increased
Salary cost 6.56m NOK → 7.22m NOK (54% → 50% of revenue). Calculated
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COGS moved
COGS / varekostnad 217.2k NOK → 334.1k NOK (+53.8% YoY). Calculated
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Book investments changed
Investment / intangible book value 20.79m NOK → 20.77m NOK. Reported fact