ADALIA AS: årsregnskap 2018 vs 2017
Shrank 14% on revenue, returned to profit
approved 2019-04-05; registry 2019-04-16; journal 2019 281211
Summary
What changed
Comparing Årsregnskap 2018 with 2017 for ADALIA AS. Revenue 2.04m NOK → 1.76m NOK (-13.9%). Net result -41.2k NOK → +5 128 NOK. Equity 118.0k NOK → -10.2k NOK.
On the constructive side: turned profitable; payroll decreased. Pressures included: revenue fell; operating result weakened; equity eroded.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for ADALIA AS.
At a glance
Scorecard
What improved
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Turned profitable
Net result flipped from a loss of 41.2k NOK to a profit of 5 128 NOK. Calculated
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Payroll decreased
Salary cost 642.1k NOK → 479.8k NOK (31% → 27% of revenue). Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 2.04m NOK to 1.76m NOK (-13.9% YoY). Calculated
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Operating result weakened
Operating result +8 096 NOK → -118.2k NOK (op. margin 0.4% → -6.7%). Calculated
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Equity eroded
Book equity 118.0k NOK → -10.2k NOK (equity ratio 44.1% → -4.5%). Calculated
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Cash fell
Bank deposits 242.9k NOK → 204.6k NOK (-15.8% YoY). Calculated
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Current ratio dropped below 1×
Current ratio 1.63× → 0.96× — 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 -4.5% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation