ACTIVE FYSIOTERAPI OG MANUELLTERAPI AS: årsregnskap 2004 vs 2003
Weaker earnings, cash halved-plus
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for ACTIVE FYSIOTERAPI OG MANUELLTERAPI AS. Revenue 944.3k NOK → 975.7k NOK (+3.3%). Net result +92.4k NOK → +10.7k NOK. Equity 100.8k NOK → 186.7k NOK.
On the constructive side: revenue rose; equity strengthened. Pressures included: operating result weakened; net result weakened; cash fell.
Also worth watching: sharp cash drawdown; paid-in equity reduced. All figures are taken from the published annual accounts for ACTIVE FYSIOTERAPI OG MANUELLTERAPI AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 944.3k NOK to 975.7k NOK (+3.3% YoY). Calculated
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↑
Equity strengthened
Book equity 100.8k NOK → 186.7k NOK (equity ratio 30.4% → 60.7%). Calculated
What deteriorated
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↓
Operating result weakened
Operating result +138.8k NOK → +21.3k NOK (op. margin 14.7% → 2.2%). Calculated
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↓
Net result weakened
Net result +92.4k NOK → +10.7k NOK (net margin 9.8% → 1.1%). Calculated
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↓
Cash fell
Bank deposits 7.24m NOK → 216.6k NOK (-97.0% YoY). Calculated
Things to notice
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Sharp cash drawdown
Cash fell by more than 60% YoY (7.24m NOK → 216.6k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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·
Paid-in equity reduced
Paid-in equity fell 6.10m NOK → 186.5k NOK — check capital reduction, conversion, or reclassification. Interpretation