ADMIRATION AS: årsregnskap 2021 vs 2020
Shrank 26% on revenue, stronger earnings
approved 2022-06-27; registry 2022-07-02; journal 2022 582316
Summary
What changed
Comparing Årsregnskap 2021 with 2020 for ADMIRATION AS. Revenue 855.6k NOK → 630.6k NOK (-26.3%). Net result +110.4k NOK → +272.8k NOK. Equity 7.26m NOK → -391.7k NOK.
On the constructive side: operating result improved; net result improved; cash rose. Pressures included: revenue fell; equity eroded; payroll up without matching revenue.
Also worth watching: thin equity buffer; cogs fell; headcount (årsverk) changed. All figures are taken from the published annual accounts for ADMIRATION AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result +164.0k NOK → +396.6k NOK (op. margin 19.2% → 62.9%). Calculated
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Net result improved
Net result +110.4k NOK → +272.8k NOK (net margin 12.9% → 43.3%). Calculated
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Cash rose
Bank deposits 104.3k NOK → 227.8k NOK (+118.5% YoY). Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 855.6k NOK to 630.6k NOK (-26.3% YoY). Calculated
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Equity eroded
Book equity 7.26m NOK → -391.7k NOK (equity ratio 1155.0% → -44.8%). Calculated
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Payroll up without matching revenue
Salary cost 68.1k NOK → 1.78m NOK (8% → 282% of revenue). Calculated
Things to notice
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Thin equity buffer
Equity ratio is -44.8% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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COGS fell
COGS / varekostnad 123.0k NOK → 102.2k NOK (-16.9% YoY). Calculated
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Headcount (årsverk) changed
Reported FTEs 0 → 1. Reported fact