ACE GOLF AS: årsregnskap 2007 vs 2006
Grew 7% on revenue
approved 2008-07-11; registry 2008-08-25
Summary
What changed
Comparing Årsregnskap 2007 with 2006 for ACE GOLF AS. Revenue 5.24m NOK → 5.60m NOK (+6.9%). Equity -363.7k NOK → -367.7k NOK.
On the constructive side: revenue rose; payroll decreased. Pressures included: equity eroded; current ratio dropped below 1×.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for ACE GOLF AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 5.24m NOK to 5.60m NOK (+6.9% YoY). Calculated
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↑
Payroll decreased
Salary cost 1.38m NOK → 1.22m NOK (26% → 22% of revenue). Calculated
What deteriorated
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↓
Equity eroded
Book equity -363.7k NOK → -367.7k NOK (equity ratio -50.7% → -56.8%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 7.90× → 0.58× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -56.8% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation