ADEK AS: årsregnskap 2006 vs 2005
Shrank 5% on revenue, slipped into loss
Summary
What changed
Comparing Årsregnskap 2006 with 2005 for ADEK AS. Revenue 4.25m NOK → 4.01m NOK (-5.5%). Net result +105.8k NOK → -152.6k NOK. Equity 122.6k NOK → -29.9k NOK.
On the constructive side: current ratio back above 1×. Pressures included: revenue fell; operating result weakened; fell into a net loss.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for ADEK AS.
At a glance
Scorecard
What improved
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↑
Current ratio back above 1×
Current ratio 1.00× → 1.40×. Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 4.25m NOK to 4.01m NOK (-5.5% YoY). Calculated
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↓
Operating result weakened
Operating result +1 NOK → -92.23m NOK (op. margin 0.0% → -2297.3%). Calculated
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↓
Fell into a net loss
Net result flipped from 105.8k NOK profit to a loss of 152.6k NOK. Calculated
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↓
Equity eroded
Book equity 122.6k NOK → -29.9k NOK (equity ratio 25.7% → -3.3%). Calculated
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↓
Payroll up without matching revenue
Salary cost 1.35m NOK → 1.57m NOK (32% → 39% of revenue). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -3.3% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation