ACE NORWAY AS: årsregnskap 2022 vs 2021
Grew 206% on revenue, slipped into loss, cash halved-plus
approved 2023-04-20; registry 2023-05-20; journal 2023 389705
Summary
What changed
Comparing Årsregnskap 2022 with 2021 for ACE NORWAY AS. Revenue 5.93m NOK → 18.17m NOK (+206.3%). Net result +3.69m NOK → -15.80m NOK. Equity 25.46m NOK → 9.65m NOK.
On the constructive side: revenue rose. Pressures included: operating result weakened; fell into a net loss; equity eroded.
Also worth watching: thin equity buffer; sharp cash drawdown; book investments changed. All figures are taken from the published annual accounts for ACE NORWAY AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 5.93m NOK to 18.17m NOK (+206.3% YoY). Calculated
What deteriorated
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↓
Operating result weakened
Operating result +2.77m NOK → +1.88m NOK (op. margin 46.6% → 10.4%). Calculated
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Fell into a net loss
Net result flipped from 3.69m NOK profit to a loss of 15.80m NOK. Calculated
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↓
Equity eroded
Book equity 25.46m NOK → 9.65m NOK (equity ratio 13.9% → 4.9%). Calculated
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↓
Cash fell
Bank deposits 9.97m NOK → 716.4k NOK (-92.8% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 4.9% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Sharp cash drawdown
Cash fell by more than 60% YoY (9.97m NOK → 716.4k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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Book investments changed
Investment / intangible book value 43 NOK → 29.9k NOK. Reported fact