ACENTIO NORGE AS: årsregnskap 2005 vs 2004
Grew 9% on revenue, fresh owner capital
Summary
What changed
Comparing Årsregnskap 2005 with 2004 for ACENTIO NORGE AS. Revenue 12.42m NOK → 13.53m NOK (+8.9%). Equity 1.67m NOK → -1.00m NOK.
On the constructive side: revenue rose; owners injected capital; payroll decreased. Pressures included: operating result weakened; equity eroded; current ratio dropped below 1×.
Also worth watching: thin equity buffer; cogs moved; book investments changed. All figures are taken from the published annual accounts for ACENTIO NORGE AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 12.42m NOK to 13.53m NOK (+8.9% YoY). Calculated
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Owners injected capital
Paid-in equity rose -1.67m NOK → 1.38m NOK (+3.05m NOK). Reported fact
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↑
Payroll decreased
Salary cost 6.16m NOK → 5.34m NOK (50% → 39% of revenue). Calculated
What deteriorated
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↓
Operating result weakened
Operating result -3.54m NOK → -5.11m NOK (op. margin -28.5% → -37.8%). Calculated
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↓
Equity eroded
Book equity 1.67m NOK → -1.00m NOK (equity ratio 10.2% → -7.4%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.10× → 0.92× — 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 -7.4% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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COGS moved
COGS / varekostnad 3.05m NOK → 4.04m NOK (+32.5% YoY). Calculated
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Book investments changed
Investment / intangible book value 193.4k NOK → 144.8k NOK. Reported fact