ADDEND AS: årsregnskap 2004 vs 2003
Shrank 35% on revenue, returned to profit
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for ADDEND AS. Revenue 382.2k NOK → 247.3k NOK (-35.3%). Net result -65.3k NOK → +400.8k NOK. Equity 800.6k NOK → 201.4k NOK.
On the constructive side: operating result improved; turned profitable. Pressures included: revenue fell; equity eroded; current ratio dropped below 1×.
Net tougher year on the published lines.
At a glance
Scorecard
What improved
-
↑
Operating result improved
Operating result -19.6k NOK → +567.8k NOK (op. margin -5.1% → 229.6%). Calculated
-
↑
Turned profitable
Net result flipped from a loss of 65.3k NOK to a profit of 400.8k NOK. Calculated
What deteriorated
-
↓
Revenue fell
Operating income / revenue moved from 382.2k NOK to 247.3k NOK (-35.3% YoY). Calculated
-
↓
Equity eroded
Book equity 800.6k NOK → 201.4k NOK (equity ratio 45.7% → 10.6%). Calculated
-
↓
Current ratio dropped below 1×
Current ratio 11.80× → 0.67× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
-
↓
Payroll up without matching revenue
Salary cost 75.0k NOK → 5.28m NOK (20% → 2134% of revenue). Calculated