ABYSSUS MARINE SERVICES AS: årsregnskap 2017 vs 2016
Stronger earnings
approved 2018-11-14; registry 2018-11-26; journal 2018 934775
Summary
What changed
Comparing Årsregnskap 2017 with 2016 for ABYSSUS MARINE SERVICES AS. Revenue 6.11m NOK → 5.81m NOK (-5.0%). Net result +186.7k NOK → +302.1k NOK. Equity 729.9k NOK → 113.5k NOK.
On the constructive side: operating result improved; net result improved; cash rose. Pressures included: revenue fell; equity eroded; current ratio dropped below 1×.
Also worth watching: thin equity buffer; book investments changed. All figures are taken from the published annual accounts for ABYSSUS MARINE SERVICES AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result +326.2k NOK → +435.0k NOK (op. margin 5.3% → 7.5%). Calculated
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Net result improved
Net result +186.7k NOK → +302.1k NOK (net margin 3.1% → 5.2%). Calculated
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Cash rose
Bank deposits 106.6k NOK → 292.7k NOK (+174.7% YoY). Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 6.11m NOK to 5.81m NOK (-5.0% YoY). Calculated
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Equity eroded
Book equity 729.9k NOK → 113.5k NOK (equity ratio 15.1% → 2.2%). Calculated
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Current ratio dropped below 1×
Current ratio 1.66× → 0.72× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
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Payroll up without matching revenue
Salary cost 3 066 NOK → 2.17m NOK (0% → 37% of revenue). Calculated
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COGS moved
COGS / varekostnad 1.62m NOK → 1.93m NOK (+19.5% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 2.2% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Book investments changed
Investment / intangible book value 2.45m NOK → 1.51m NOK. Reported fact