ACE OPTIONS NORGE AS: årsregnskap 2019 vs 2018
Shrank 52% on revenue, weaker earnings, cash halved-plus
approved 2019-09-06; registry 2019-11-25; journal 2019 944510
Summary
What changed
Comparing Årsregnskap 2019 with 2018 for ACE OPTIONS NORGE AS. Revenue 10.30m NOK → 4.95m NOK (-52.0%). Net result +910.5k NOK → +39.0k NOK. Equity -525.5k NOK → -486.5k NOK.
On the constructive side: equity strengthened. Pressures included: revenue fell; operating result weakened; net result weakened.
Also worth watching: thin equity buffer; cogs fell. All figures are taken from the published annual accounts for ACE OPTIONS NORGE AS.
At a glance
Scorecard
What improved
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↑
Equity strengthened
Book equity -525.5k NOK → -486.5k NOK (equity ratio -33.7% → -83.3%). Calculated
What deteriorated
-
↓
Revenue fell
Operating income / revenue moved from 10.30m NOK to 4.95m NOK (-52.0% YoY). Calculated
-
↓
Operating result weakened
Operating result +913.2k NOK → +38.8k NOK (op. margin 8.9% → 0.8%). Calculated
-
↓
Net result weakened
Net result +910.5k NOK → +39.0k NOK (net margin 8.8% → 0.8%). Calculated
-
↓
Cash fell
Bank deposits 615.9k NOK → 134.3k NOK (-78.2% YoY). Calculated
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↓
Payroll up without matching revenue
Salary cost 1.48m NOK → 1.50m NOK (14% → 30% of revenue). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -83.3% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
-
·
COGS fell
COGS / varekostnad 7.28m NOK → 2.93m NOK (-59.8% YoY). Calculated