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Org.nr 976 594 622 2003 → 2004 Year-over-year analysis

ACTIVE GOLF AS: årsregnskap 2004 vs 2003

Shrank 72% on revenue, stronger earnings

Full company analysis · All year comparisons

Summary

What changed

Comparing Årsregnskap 2004 with 2003 for ACTIVE GOLF AS. Revenue 1.49m NOK → 422.6k NOK (-71.6%). Net result +255.7k NOK → +362.1k NOK. Equity 155.8k NOK → 100.8k NOK.

On the constructive side: net result improved. Pressures included: revenue fell; operating result weakened; equity eroded.

Also worth watching: cogs fell. All figures are taken from the published annual accounts for ACTIVE GOLF AS.

At a glance

Scorecard

Revenue
1.49m NOK 422.6k NOK
-71.6%
Operating result
+436.72m NOK +601.6k NOK
-99.9%
Net result
+255.7k NOK +362.1k NOK
+41.6%
Equity
155.8k NOK 100.8k NOK
-35.3%
Total assets
1.20m NOK 893.6k NOK
-25.8%

What improved

  • ↑

    Net result improved

    Net result +255.7k NOK → +362.1k NOK (net margin 17.2% → 85.7%). Calculated

What deteriorated

  • ↓

    Revenue fell

    Operating income / revenue moved from 1.49m NOK to 422.6k NOK (-71.6% YoY). Calculated

  • ↓

    Operating result weakened

    Operating result +436.72m NOK → +601.6k NOK (op. margin 29295.4% → 142.4%). Calculated

  • ↓

    Equity eroded

    Book equity 155.8k NOK → 100.8k NOK (equity ratio 12.9% → 11.3%). Calculated

  • ↓

    Payroll up without matching revenue

    Salary cost 311.1k NOK → 6.40m NOK (21% → 1515% of revenue). Calculated

Things to notice

  • ·

    COGS fell

    COGS / varekostnad 990.5k NOK → 912.9k NOK (-7.8% YoY). Calculated