ACRYLICON MIDT- OG VEST- NORGE AS: årsregnskap 2004 vs 2003
Grew 70% on revenue, weaker earnings, fresh owner capital
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for ACRYLICON MIDT- OG VEST- NORGE AS. Revenue 12.23m NOK → 20.72m NOK (+69.5%). Net result +681.4k NOK → +85.0k NOK. Equity 756.2k NOK → 5 939 NOK.
On the constructive side: revenue rose; owners injected capital. Pressures included: operating result weakened; net result weakened; equity eroded.
Also worth watching: thin equity buffer; payroll increased; cogs moved. All figures are taken from the published annual accounts for ACRYLICON MIDT- OG VEST- NORGE AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 12.23m NOK to 20.72m NOK (+69.5% YoY). Calculated
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Owners injected capital
Paid-in equity rose 491.4k NOK → 638.0k NOK (+146.6k NOK). Reported fact
What deteriorated
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↓
Operating result weakened
Operating result +1.35m NOK → +161.9k NOK (op. margin 11.0% → 0.8%). Calculated
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↓
Net result weakened
Net result +681.4k NOK → +85.0k NOK (net margin 5.6% → 0.4%). Calculated
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↓
Equity eroded
Book equity 756.2k NOK → 5 939 NOK (equity ratio 19.3% → 0.1%). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 0.1% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Payroll increased
Salary cost 2 003 NOK → 2.45m NOK (0% → 12% of revenue). Calculated
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COGS moved
COGS / varekostnad 8.48m NOK → 14.58m NOK (+72.0% YoY). Calculated