ACTIVE PHARMA AS: årsregnskap 2020 vs 2019
Shrank 51% on revenue, stronger earnings
approved 2021-08-30; registry 2021-09-02; journal 2021 709394
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for ACTIVE PHARMA AS. Revenue 660.8k NOK → 321.7k NOK (-51.3%). Net result -668.4k NOK → -267.0k NOK. Equity -574.0k NOK → -841.0k NOK.
On the constructive side: operating result improved; net result improved; cash rose. Pressures included: revenue fell; equity eroded; current ratio dropped below 1×.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for ACTIVE PHARMA AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result -638.3k NOK → -204.0k NOK (op. margin -96.6% → -63.4%). Calculated
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Net result improved
Net result -668.4k NOK → -267.0k NOK (net margin -101.2% → -83.0%). Calculated
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Cash rose
Bank deposits 77.8k NOK → 228.9k NOK (+194.3% YoY). Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 660.8k NOK to 321.7k NOK (-51.3% YoY). Calculated
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Equity eroded
Book equity -574.0k NOK → -841.0k NOK (equity ratio -99.4% → -151.6%). Calculated
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Current ratio dropped below 1×
Current ratio 1.30× → 0.80× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
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Payroll up without matching revenue
Salary cost 688 NOK → 6 679 NOK (0% → 2% of revenue). Calculated
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COGS moved
COGS / varekostnad 204.1k NOK → 388.5k NOK (+90.3% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is -151.6% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation