ABYSSINIA RESOURCES DEVELOPMENT AS: årsregnskap 2020 vs 2019
Grew 542% on revenue, slipped into loss
approved 2021-03-29; registry 2021-08-23; journal 2021 636742
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for ABYSSINIA RESOURCES DEVELOPMENT AS. Revenue 60.0k NOK → 385.0k NOK (+541.7%). Net result +6 100 NOK → -27.89m NOK. Equity 27.38m NOK → -501.8k NOK.
On the constructive side: revenue rose; cash rose. Pressures included: operating result weakened; fell into a net loss; equity eroded.
Also worth watching: thin equity buffer; book investments changed. All figures are taken from the published annual accounts for ABYSSINIA RESOURCES DEVELOPMENT AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 60.0k NOK to 385.0k NOK (+541.7% YoY). Calculated
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↑
Cash rose
Bank deposits 2 055 NOK → 767.4k NOK (+37242.7% YoY). Calculated
What deteriorated
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↓
Operating result weakened
Operating result -190.6k NOK → -27.42m NOK (op. margin -317.7% → -7121.1%). Calculated
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↓
Fell into a net loss
Net result flipped from 6 100 NOK profit to a loss of 27.89m NOK. Calculated
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↓
Equity eroded
Book equity 27.38m NOK → -501.8k NOK (equity ratio 91.0% → -5.0%). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -5.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Book investments changed
Investment / intangible book value 51.6k NOK → 8.76m NOK. Reported fact