ADELSTEN AS: årsregnskap 2022 vs 2021
Shrank 8% on revenue, stronger earnings, fresh owner capital
approved 2023-05-18; registry 2023-05-22; journal 2023 415629
Summary
What changed
Comparing Årsregnskap 2022 with 2021 for ADELSTEN AS. Revenue 1.91m NOK → 1.76m NOK (-7.8%). Net result -98.8k NOK → -49.0k NOK. Equity 47.4k NOK → -1 526 NOK.
On the constructive side: operating result improved; net result improved; cash rose. Pressures included: revenue fell; equity eroded.
Also worth watching: thin equity buffer; cogs fell; book investments changed. All figures are taken from the published annual accounts for ADELSTEN AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result -77.1k NOK → -71.5k NOK (op. margin -4.0% → -4.1%). Calculated
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Net result improved
Net result -98.8k NOK → -49.0k NOK (net margin -5.2% → -2.8%). Calculated
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Cash rose
Bank deposits 15.9k NOK → 20.8k NOK (+30.6% YoY). Calculated
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Current ratio back above 1×
Current ratio -3.01× → 4.34×. Calculated
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Owners injected capital
Paid-in equity rose 23.2k NOK → 30.0k NOK (+6 797 NOK). Reported fact
What deteriorated
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Revenue fell
Operating income / revenue moved from 1.91m NOK to 1.76m NOK (-7.8% YoY). Calculated
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↓
Equity eroded
Book equity 47.4k NOK → -1 526 NOK (equity ratio 12.0% → -0.2%). Calculated
Things to notice
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Thin equity buffer
Equity ratio is -0.2% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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COGS fell
COGS / varekostnad 1.79m NOK → 1.63m NOK (-9.1% YoY). Calculated
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Book investments changed
Investment / intangible book value 0 NOK → 100.0k NOK. Reported fact