ACE GOLF AS: årsregnskap 2005 vs 2004
Shrank 71% on revenue, stronger earnings
Summary
What changed
Comparing Årsregnskap 2005 with 2004 for ACE GOLF AS. Revenue 39.6k NOK → 11.3k NOK (-71.4%). Net result -125.4k NOK → -36.0k NOK. Equity 100.4k NOK → 64.4k NOK.
On the constructive side: operating result improved; net result improved; payroll decreased. Pressures included: revenue fell; equity eroded; cash fell.
Also worth watching: paid-in equity reduced; cogs fell. All figures are taken from the published annual accounts for ACE GOLF AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result -137.9k NOK → -38.8k NOK (op. margin -347.8% → -342.7%). Calculated
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Net result improved
Net result -125.4k NOK → -36.0k NOK (net margin -316.2% → -317.6%). Calculated
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Payroll decreased
Salary cost 87.1k NOK → -4 469 NOK (220% → -39% of revenue). Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 39.6k NOK to 11.3k NOK (-71.4% YoY). Calculated
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Equity eroded
Book equity 100.4k NOK → 64.4k NOK (equity ratio 25.4% → 24.3%). Calculated
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Cash fell
Bank deposits 366.9k NOK → 197.2k NOK (-46.2% YoY). Calculated
Things to notice
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Paid-in equity reduced
Paid-in equity fell 100.00bn NOK → 100.0k NOK — check capital reduction, conversion, or reclassification. Interpretation
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COGS fell
COGS / varekostnad 20.9k NOK → 5 464 NOK (-73.9% YoY). Calculated