ADEK AS: årsregnskap 2005 vs 2004
Grew 37% on revenue, returned to profit
Summary
What changed
Comparing Årsregnskap 2005 with 2004 for ADEK AS. Revenue 3.11m NOK → 4.25m NOK (+36.8%). Net result -190.5k NOK → +105.8k NOK. Equity 16.8k NOK → 122.6k NOK.
On the constructive side: revenue rose; turned profitable; equity strengthened. Pressures included: operating result weakened; current ratio dropped below 1×.
Also worth watching: payroll increased; cogs moved. All figures are taken from the published annual accounts for ADEK AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 3.11m NOK to 4.25m NOK (+36.8% YoY). Calculated
-
↑
Turned profitable
Net result flipped from a loss of 190.5k NOK to a profit of 105.8k NOK. Calculated
-
↑
Equity strengthened
Book equity 16.8k NOK → 122.6k NOK (equity ratio 1.3% → 25.7%). Calculated
What deteriorated
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↓
Operating result weakened
Operating result +254.7k NOK → +1 NOK (op. margin 8.2% → 0.0%). Calculated
-
↓
Current ratio dropped below 1×
Current ratio 849.93× → 1.00× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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·
Payroll increased
Salary cost 2 004 NOK → 1.35m NOK (0% → 32% of revenue). Calculated
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·
COGS moved
COGS / varekostnad 1.13m NOK → 1.93m NOK (+70.2% YoY). Calculated