ACTIVE BRANDS AS: årsregnskap 2019 vs 2018
Grew 13% on revenue, cash halved-plus
approved 2020-04-27; registry 2020-08-31; journal 2020 718821
Summary
What changed
Comparing Årsregnskap 2019 with 2018 for ACTIVE BRANDS AS. Revenue 967.3k NOK → 1.09m NOK (+12.7%). Equity 401.5k NOK → 470.8k NOK.
On the constructive side: revenue rose; operating result improved; equity strengthened. Pressures included: cash fell.
Also worth watching: thin equity buffer; sharp cash drawdown; payroll increased. All figures are taken from the published annual accounts for ACTIVE BRANDS AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 967.3k NOK to 1.09m NOK (+12.7% YoY). Calculated
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↑
Operating result improved
Operating result +75.89m NOK → +97.15m NOK (op. margin 7845.8% → 8910.7%). Calculated
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↑
Equity strengthened
Book equity 401.5k NOK → 470.8k NOK (equity ratio 45.2% → 0.1%). Calculated
What deteriorated
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↓
Cash fell
Bank deposits 61.12m NOK → 20.47m NOK (-66.5% YoY). 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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Sharp cash drawdown
Cash fell by more than 60% YoY (61.12m NOK → 20.47m NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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Payroll increased
Salary cost 99.86m NOK → 3.11bn NOK (10324% → 285228% of revenue). Calculated
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COGS moved
COGS / varekostnad 591.5k NOK → 674.7k NOK (+14.1% YoY). Calculated
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Book investments changed
Investment / intangible book value 13.62m NOK → 1 000 NOK. Reported fact