AC DESIGNTECH AS: årsregnskap 2005 vs 2004
Grew 32% on revenue, stronger earnings
Summary
What changed
Comparing Årsregnskap 2005 with 2004 for AC DESIGNTECH AS. Revenue 705.1k NOK → 931.9k NOK (+32.2%). Net result +92.0k NOK → +319.6k NOK. Equity 204.4k NOK → 115.2k NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: equity eroded.
Also worth watching: thin equity buffer; payroll increased; cogs moved. All figures are taken from the published annual accounts for AC DESIGNTECH AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 705.1k NOK to 931.9k NOK (+32.2% YoY). Calculated
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Operating result improved
Operating result +98.2k NOK → +309.7k NOK (op. margin 13.9% → 33.2%). Calculated
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Net result improved
Net result +92.0k NOK → +319.6k NOK (net margin 13.0% → 34.3%). Calculated
What deteriorated
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↓
Equity eroded
Book equity 204.4k NOK → 115.2k NOK (equity ratio 35.3% → 0.0%). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 0.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Payroll increased
Salary cost 60.4k NOK → 2.16m NOK (9% → 231% of revenue). Calculated
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COGS moved
COGS / varekostnad 18.3k NOK → 756.6k NOK (+4032.6% YoY). Calculated