ADAX NORGE AS: årsregnskap 2008 vs 2007
Grew 905% on revenue, slipped into loss
approved 2009-03-16; registry 2009-03-26
Summary
What changed
Comparing Årsregnskap 2008 with 2007 for ADAX NORGE AS. Revenue 680 NOK → 6 836 NOK (+905.3%). Net result +174 NOK → -2 529 NOK. Equity 174 NOK → -2 425 NOK.
On the constructive side: revenue rose. Pressures included: fell into a net loss; equity eroded; current ratio dropped below 1×.
Also worth watching: thin equity buffer; cogs moved. All figures are taken from the published annual accounts for ADAX NORGE AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 680 NOK to 6 836 NOK (+905.3% YoY). Calculated
What deteriorated
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↓
Fell into a net loss
Net result flipped from 174 NOK profit to a loss of 2 529 NOK. Calculated
-
↓
Equity eroded
Book equity 174 NOK → -2 425 NOK (equity ratio 36.1% → -148.3%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.30× → 0.37× — 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 -148.3% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
COGS moved
COGS / varekostnad 424 NOK → 5 504 NOK (+1198.1% YoY). Calculated