ADAN MACHINERY AS: årsregnskap 2023 vs 2022
Shrank 98% on revenue, weaker earnings, cash halved-plus
approved 2024-06-28; registry 2024-07-11; journal 2024 630789
Summary
What changed
Comparing Årsregnskap 2023 with 2022 for ADAN MACHINERY AS. Revenue 740.3k NOK → 17.2k NOK (-97.7%). Net result -103.5k NOK → -479.6k NOK. Equity 216.7k NOK → -262.9k NOK.
Pressures included: revenue fell; operating result weakened; net result weakened.
Also worth watching: thin equity buffer; cogs fell. All figures are taken from the published annual accounts for ADAN MACHINERY AS.
At a glance
Scorecard
What deteriorated
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Revenue fell
Operating income / revenue moved from 740.3k NOK to 17.2k NOK (-97.7% YoY). Calculated
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Operating result weakened
Operating result -96.2k NOK → -480.4k NOK (op. margin -13.0% → -2785.1%). Calculated
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↓
Net result weakened
Net result -103.5k NOK → -479.6k NOK (net margin -14.0% → -2780.5%). Calculated
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↓
Equity eroded
Book equity 216.7k NOK → -262.9k NOK (equity ratio 47.3% → -267.0%). Calculated
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↓
Cash fell
Bank deposits 97.6k NOK → 3 989 NOK (-95.9% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -267.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
COGS fell
COGS / varekostnad 643.3k NOK → 16.1k NOK (-97.5% YoY). Calculated