ADF AS: årsregnskap 2024 vs 2023
Shrank 77% on revenue, stronger earnings
approved 2025-06-30; registry 2025-12-31; journal 2025 765666
Summary
What changed
Comparing Årsregnskap 2024 with 2023 for ADF AS. Revenue 1.11m NOK → 253.3k NOK (-77.1%). Net result -463.0k NOK → -336.3k NOK. Equity -138.0k NOK → -474.3k NOK.
On the constructive side: operating result improved; net result improved; cash rose. Pressures included: revenue fell; equity eroded; current ratio dropped below 1×.
Also worth watching: thin equity buffer; headcount (årsverk) changed. All figures are taken from the published annual accounts for ADF AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result -431.1k NOK → -372.9k NOK (op. margin -39.0% → -147.2%). Calculated
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Net result improved
Net result -463.0k NOK → -336.3k NOK (net margin -41.9% → -132.8%). Calculated
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Cash rose
Bank deposits 44.3k NOK → 250.1k NOK (+464.7% YoY). Calculated
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Payroll decreased
Salary cost 951.3k NOK → 43.1k NOK (86% → 17% of revenue). Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 1.11m NOK to 253.3k NOK (-77.1% YoY). Calculated
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Equity eroded
Book equity -138.0k NOK → -474.3k NOK (equity ratio -12.2% → -64.0%). Calculated
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Current ratio dropped below 1×
Current ratio 1.25× → 0.86× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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Thin equity buffer
Equity ratio is -64.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Headcount (årsverk) changed
Reported FTEs 1 → 0. Reported fact