ACTION TRANSPORT AS: årsregnskap 2004 vs 2003
Grew 40% on revenue, stronger earnings, cash halved-plus
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for ACTION TRANSPORT AS. Revenue 7.63m NOK → 10.72m NOK (+40.5%). Net result +24.4k NOK → +424.6k NOK. Equity 203.5k NOK → 221.1k NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: cash fell; current ratio dropped below 1×.
Also worth watching: thin equity buffer; sharp cash drawdown; paid-in equity reduced. All figures are taken from the published annual accounts for ACTION TRANSPORT AS.
At a glance
Scorecard
What improved
-
↑
Revenue rose
Operating income / revenue moved from 7.63m NOK to 10.72m NOK (+40.5% YoY). Calculated
-
↑
Operating result improved
Operating result +35.7k NOK → +396.8k NOK (op. margin 0.5% → 3.7%). Calculated
-
↑
Net result improved
Net result +24.4k NOK → +424.6k NOK (net margin 0.3% → 4.0%). Calculated
-
↑
Equity strengthened
Book equity 203.5k NOK → 221.1k NOK (equity ratio 10.3% → 5.8%). Calculated
What deteriorated
-
↓
Cash fell
Bank deposits 5.56m NOK → 704.2k NOK (-87.3% YoY). Calculated
-
↓
Current ratio dropped below 1×
Current ratio 1.14× → 0.92× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
-
·
Thin equity buffer
Equity ratio is 5.8% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
-
·
Sharp cash drawdown
Cash fell by more than 60% YoY (5.56m NOK → 704.2k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
-
·
Paid-in equity reduced
Paid-in equity fell 104.0k NOK → 100.0k NOK — check capital reduction, conversion, or reclassification. Interpretation
-
·
COGS moved
COGS / varekostnad 2 NOK → 7.21m NOK (+360392000.0% YoY). Calculated
-
·
Book investments changed
Investment / intangible book value 33.5k NOK → 160.4k NOK. Reported fact