ADMINISTRASJONSPARTNER AS: årsregnskap 2004 vs 2003
Shrank 32% on revenue, weaker earnings
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for ADMINISTRASJONSPARTNER AS. Revenue 399.7k NOK → 272.7k NOK (-31.8%). Net result +19.8k NOK → +24 NOK. Equity 112.4k NOK → 68.2k NOK.
On the constructive side: operating result improved; payroll decreased. Pressures included: revenue fell; net result weakened; equity eroded.
Net tougher year on the published lines.
At a glance
Scorecard
What improved
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↑
Operating result improved
Operating result -28.4k NOK → +226.9k NOK (op. margin -7.1% → 83.2%). Calculated
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↑
Payroll decreased
Salary cost 182.1k NOK → 38.3k NOK (46% → 14% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 399.7k NOK to 272.7k NOK (-31.8% YoY). Calculated
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↓
Net result weakened
Net result +19.8k NOK → +24 NOK (net margin 4.9% → 0.0%). Calculated
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↓
Equity eroded
Book equity 112.4k NOK → 68.2k NOK (equity ratio 19.8% → 21.2%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.44× → 0.82× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
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↓
COGS moved
COGS / varekostnad 30.2k NOK → 190.9k NOK (+532.2% YoY). Calculated