ADAPA AS: årsregnskap 2004 vs 2003
Stronger earnings
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for ADAPA AS. Revenue 4.72m NOK → 4.86m NOK (+2.9%). Net result +2 005 NOK → +39.0k NOK. Equity 33.5k NOK → 5.28m NOK.
On the constructive side: revenue rose; net result improved; equity strengthened. Pressures included: operating result weakened; current ratio dropped below 1×.
Also worth watching: payroll increased; cogs fell; book investments changed. All figures are taken from the published annual accounts for ADAPA AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 4.72m NOK to 4.86m NOK (+2.9% YoY). Calculated
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↑
Net result improved
Net result +2 005 NOK → +39.0k NOK (net margin 0.0% → 0.8%). Calculated
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↑
Equity strengthened
Book equity 33.5k NOK → 5.28m NOK (equity ratio 1.3% → 187.5%). Calculated
What deteriorated
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↓
Operating result weakened
Operating result +610.7k NOK → +4 354 NOK (op. margin 12.9% → 0.1%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.34× → 0.46× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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·
Payroll increased
Salary cost 1.98m NOK → 3.09m NOK (42% → 64% of revenue). Calculated
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·
COGS fell
COGS / varekostnad 1.31m NOK → 1 310 NOK (-99.9% YoY). Calculated
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·
Book investments changed
Investment / intangible book value 350.0k NOK → 400.3k NOK. Reported fact