ABYSSINIA RESOURCES DEVELOPMENT AS: årsregnskap 2024 vs 2023
Shrank 62% on revenue, weaker earnings
approved 2025-05-26; registry 2025-06-10; journal 2025 485266
Summary
What changed
Comparing Årsregnskap 2024 with 2023 for ABYSSINIA RESOURCES DEVELOPMENT AS. Revenue 41.26m NOK → 15.73m NOK (-61.9%). Net result -18.38m NOK → -110.51m NOK. Equity -17.35m NOK → -127.87m NOK.
On the constructive side: cash rose. Pressures included: revenue fell; operating result weakened; net result weakened.
Also worth watching: thin equity buffer; cogs fell; 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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↑
Cash rose
Bank deposits 3.58m NOK → 19.71m NOK (+450.3% YoY). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 41.26m NOK to 15.73m NOK (-61.9% YoY). Calculated
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↓
Operating result weakened
Operating result +24.33m NOK → -2.16m NOK (op. margin 59.0% → -13.7%). Calculated
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↓
Net result weakened
Net result -18.38m NOK → -110.51m NOK (net margin -44.6% → -702.5%). Calculated
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↓
Equity eroded
Book equity -17.35m NOK → -127.87m NOK (equity ratio -5.7% → -32.2%). Calculated
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↓
Payroll up without matching revenue
Salary cost 7.21m NOK → 8.63m NOK (17% → 55% of revenue). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -32.2% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
COGS fell
COGS / varekostnad 1.15m NOK → 27.7k NOK (-97.6% YoY). Calculated
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·
Book investments changed
Investment / intangible book value 224.66m NOK → 276.49m NOK. Reported fact