ACADEMIC WORK NORWAY AS: årsregnskap 2008 vs 2007
Grew 222% on revenue, returned to profit, fresh owner capital
Summary
What changed
Comparing Årsregnskap 2008 with 2007 for ACADEMIC WORK NORWAY AS. Revenue 19.40m NOK → 62.54m NOK (+222.4%). Net result -2.23m NOK → +5.19m NOK. Equity 1.06m NOK → 246.1k NOK.
On the constructive side: revenue rose; operating result improved; turned profitable. Pressures included: equity eroded.
Also worth watching: thin equity buffer; payroll increased; book investments changed. All figures are taken from the published annual accounts for ACADEMIC WORK NORWAY AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 19.40m NOK to 62.54m NOK (+222.4% YoY). Calculated
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Operating result improved
Operating result -3.04m NOK → +303.5k NOK (op. margin -15.7% → 0.5%). Calculated
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Turned profitable
Net result flipped from a loss of 2.23m NOK to a profit of 5.19m NOK. Calculated
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Current ratio back above 1×
Current ratio 0.97× → 1.14×. Calculated
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Owners injected capital
Paid-in equity rose 1 055 NOK → 1.06m NOK (+1.05m NOK). Reported fact
What deteriorated
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Equity eroded
Book equity 1.06m NOK → 246.1k NOK (equity ratio 12021.7% → 1.0%). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 1.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Payroll increased
Salary cost 19.70m NOK → 51.54m NOK (102% → 82% of revenue). Calculated
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Book investments changed
Investment / intangible book value 0 NOK → 300.0k NOK. Reported fact