ADELSMANN AS: årsregnskap 2005 vs 2004
Grew 66% on revenue, stronger earnings
Summary
What changed
Comparing Årsregnskap 2005 with 2004 for ADELSMANN AS. Revenue 2.91m NOK → 4.83m NOK (+65.6%). Net result +10.5k NOK → +85.7k NOK. Equity 160.8k NOK → 446.4k NOK.
On the constructive side: revenue rose; operating result improved; net result improved.
Also worth watching: paid-in equity reduced; payroll increased; cogs moved. All figures are taken from the published annual accounts for ADELSMANN AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 2.91m NOK to 4.83m NOK (+65.6% YoY). Calculated
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Operating result improved
Operating result +58.1k NOK → +166.3k NOK (op. margin 2.0% → 3.4%). Calculated
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Net result improved
Net result +10.5k NOK → +85.7k NOK (net margin 0.4% → 1.8%). Calculated
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Equity strengthened
Book equity 160.8k NOK → 446.4k NOK. Calculated
Things to notice
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Paid-in equity reduced
Paid-in equity fell 160.0k NOK → 360 NOK — check capital reduction, conversion, or reclassification. Interpretation
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Payroll increased
Salary cost 733.1k NOK → 1.32m NOK (25% → 27% of revenue). Calculated
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COGS moved
COGS / varekostnad 1.53m NOK → 2.21m NOK (+44.7% YoY). Calculated