ADDSECURE AS: årsregnskap 2020 vs 2019
Cash halved-plus
approved 2021-07-20; registry 2021-08-30; journal 2021 653111
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for ADDSECURE AS. Revenue 202.7k NOK → 208.2k NOK (+2.7%). Net result +61.15m NOK → +72.74m NOK. Equity 93.51m NOK → 95.49m NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: cash fell; current ratio dropped below 1×.
Also worth watching: sharp cash drawdown; cogs fell; book investments changed. All figures are taken from the published annual accounts for ADDSECURE AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 202.7k NOK to 208.2k NOK (+2.7% YoY). Calculated
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Operating result improved
Operating result +73.88m NOK → +80.20m NOK (op. margin 36447.8% → 38520.0%). Calculated
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Net result improved
Net result +61.15m NOK → +72.74m NOK (net margin 30164.9% → 34937.5%). Calculated
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Equity strengthened
Book equity 93.51m NOK → 95.49m NOK (equity ratio 25705.4% → 26238.5%). Calculated
What deteriorated
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↓
Cash fell
Bank deposits 9.15bn NOK → 160.3k NOK (-100.0% YoY). Calculated
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Current ratio dropped below 1×
Current ratio 1.26× → 0.00× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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Sharp cash drawdown
Cash fell by more than 60% YoY (9.15bn NOK → 160.3k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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COGS fell
COGS / varekostnad 51.03m NOK → 49.56m NOK (-2.9% YoY). Calculated
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Book investments changed
Investment / intangible book value 298.0k NOK → 139.65m NOK. Reported fact