ADB REGNSKAP AS: årsregnskap 2003 vs 2002
Shrank 15% on revenue, weaker earnings, fresh owner capital
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for ADB REGNSKAP AS. Revenue 1.35m NOK → 1.15m NOK (-14.6%). Net result -20.3k NOK → -94.6k NOK. Equity 54.4k NOK → 9 815 NOK.
On the constructive side: current ratio back above 1×; owners injected capital. Pressures included: revenue fell; operating result weakened; net result weakened.
Also worth watching: thin equity buffer; book investments changed. All figures are taken from the published annual accounts for ADB REGNSKAP AS.
At a glance
Scorecard
What improved
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↑
Current ratio back above 1×
Current ratio 0.67× → 1.13×. Calculated
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↑
Owners injected capital
Paid-in equity rose 50.0k NOK → 100.0k NOK (+50.0k NOK). Reported fact
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 1.35m NOK to 1.15m NOK (-14.6% YoY). Calculated
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↓
Operating result weakened
Operating result -8 881 NOK → -66.4k NOK (op. margin -0.7% → -5.8%). Calculated
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↓
Net result weakened
Net result -20.3k NOK → -94.6k NOK (net margin -1.5% → -8.2%). Calculated
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↓
Equity eroded
Book equity 54.4k NOK → 9 815 NOK (equity ratio 9.6% → 1.1%). Calculated
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↓
Payroll up without matching revenue
Salary cost 953.6k NOK → 1.80m NOK (71% → 156% of revenue). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 1.1% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Book investments changed
Investment / intangible book value 36.3k NOK → 78.1k NOK. Reported fact