ADITECH AS: årsregnskap 2004 vs 2003
A steady year on the published lines
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for ADITECH AS. Revenue 4.24m NOK → 4.16m NOK (-2.0%). Net result +13.9k NOK → +6 655 NOK. Equity 81.2k NOK → 74.5k NOK.
On the constructive side: payroll decreased. Pressures included: revenue fell; operating result weakened; net result weakened.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for ADITECH AS.
At a glance
Scorecard
What improved
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↑
Payroll decreased
Salary cost 1.07m NOK → 1.05m NOK (25% → 25% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 4.24m NOK to 4.16m NOK (-2.0% YoY). Calculated
-
↓
Operating result weakened
Operating result +56.2k NOK → +323 NOK (op. margin 1.3% → 0.0%). Calculated
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↓
Net result weakened
Net result +13.9k NOK → +6 655 NOK (net margin 0.3% → 0.2%). Calculated
-
↓
Equity eroded
Book equity 81.2k NOK → 74.5k NOK (equity ratio 10.4% → 5.5%). Calculated
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↓
COGS moved
COGS / varekostnad 2.40m NOK → 2.55m NOK (+6.5% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 5.5% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation