ADACON AS: årsregnskap 2008 vs 2007
Grew 26% on revenue, stronger earnings
approved 2009-04-03; registry 2009-04-20
Summary
What changed
Comparing Årsregnskap 2008 with 2007 for ADACON AS. Revenue 1.38m NOK → 1.73m NOK (+25.7%). Net result +217 NOK → +430.4k NOK. Equity 723.8k NOK → 1 133 NOK.
On the constructive side: revenue rose; net result improved; cash rose. Pressures included: equity eroded; current ratio dropped below 1×.
Also worth watching: thin equity buffer; book investments changed. All figures are taken from the published annual accounts for ADACON AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 1.38m NOK to 1.73m NOK (+25.7% YoY). Calculated
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Net result improved
Net result +217 NOK → +430.4k NOK (net margin 0.0% → 24.9%). Calculated
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↑
Cash rose
Bank deposits 509.6k NOK → 938.2k NOK (+84.1% YoY). Calculated
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↑
Payroll decreased
Salary cost 873.3k NOK → 39.5k NOK (63% → 2% of revenue). Calculated
What deteriorated
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↓
Equity eroded
Book equity 723.8k NOK → 1 133 NOK (equity ratio 2052.9% → 0.1%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 2.64× → 0.87× — short-term liabilities now exceed liquid/current assets on the published lines. 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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Book investments changed
Investment / intangible book value 214.3k NOK → 190.9k NOK. Reported fact