AC-SUNCARE INSTITUTE AS: årsregnskap 2009 vs 2008
Shrank 61% on revenue, stronger earnings
Summary
What changed
Comparing Årsregnskap 2009 with 2008 for AC-SUNCARE INSTITUTE AS. Revenue 602.6k NOK → 234.2k NOK (-61.1%). Net result +490.9k NOK → +783.6k NOK. Equity 497.9k NOK → 1 281 NOK.
On the constructive side: operating result improved; net result improved. Pressures included: revenue fell; equity eroded; current ratio dropped below 1×.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for AC-SUNCARE INSTITUTE AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result +474.9k NOK → +802.8k NOK (op. margin 78.8% → 342.8%). Calculated
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Net result improved
Net result +490.9k NOK → +783.6k NOK (net margin 81.5% → 334.6%). Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 602.6k NOK to 234.2k NOK (-61.1% YoY). Calculated
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Equity eroded
Book equity 497.9k NOK → 1 281 NOK (equity ratio 56.6% → 0.2%). Calculated
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Current ratio dropped below 1×
Current ratio 2.29× → 0.30× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
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Payroll up without matching revenue
Salary cost 473.8k NOK → 494.4k NOK (79% → 211% of revenue). Calculated
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COGS moved
COGS / varekostnad 187.8k NOK → 206.8k NOK (+10.1% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 0.2% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation