ACOUSTICA AS: årsregnskap 2003 vs 2002
Shrank 81% on revenue, cash halved-plus
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for ACOUSTICA AS. Revenue 387.9k NOK → 75.0k NOK (-80.7%). Equity 124.9k NOK → -176.1k NOK.
On the constructive side: operating result improved; owners injected capital. Pressures included: revenue fell; equity eroded; cash fell.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for ACOUSTICA AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result -1.50m NOK → -390.0k NOK (op. margin -387.2% → -520.0%). Calculated
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Owners injected capital
Paid-in equity rose 348.7k NOK → 363.2k NOK (+14.5k NOK). Reported fact
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 387.9k NOK to 75.0k NOK (-80.7% YoY). Calculated
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Equity eroded
Book equity 124.9k NOK → -176.1k NOK (equity ratio 20.6% → -366.6%). Calculated
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Cash fell
Bank deposits 408.8k NOK → 47.9k NOK (-88.3% YoY). Calculated
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Current ratio dropped below 1×
Current ratio 1.13× → 0.21× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
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Payroll up without matching revenue
Salary cost 1.40m NOK → 3.26m NOK (361% → 4345% of revenue). Calculated
Things to notice
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Thin equity buffer
Equity ratio is -366.6% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation