ACCESS ADVENTURES AS: årsregnskap 2003 vs 2002
Shrank 45% on revenue, stronger earnings
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for ACCESS ADVENTURES AS. Revenue 923.2k NOK → 504.2k NOK (-45.4%). Net result +47.1k NOK → +84.1k NOK. Equity 147.1k NOK → 63.1k 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: cogs fell. All figures are taken from the published annual accounts for ACCESS ADVENTURES AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result +69.8k NOK → +110.7k NOK (op. margin 7.6% → 22.0%). Calculated
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Net result improved
Net result +47.1k NOK → +84.1k NOK (net margin 5.1% → 16.7%). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 923.2k NOK to 504.2k NOK (-45.4% YoY). Calculated
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↓
Equity eroded
Book equity 147.1k NOK → 63.1k NOK (equity ratio 16.7% → 25.8%). Calculated
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Current ratio dropped below 1×
Current ratio 1.10× → 0.51× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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COGS fell
COGS / varekostnad 820.7k NOK → 34.0k NOK (-95.9% YoY). Calculated