ADREGA AS: årsregnskap 2006 vs 2005
Shrank 11% on revenue
Summary
What changed
Comparing Årsregnskap 2006 with 2005 for ADREGA AS. Revenue 3.17m NOK → 2.83m NOK (-10.7%). Net result +537 NOK → +4 398 NOK. Equity 1.82m NOK → 20.1k NOK.
On the constructive side: net result improved. Pressures included: revenue fell; operating result weakened; equity eroded.
Also worth watching: thin equity buffer; paid-in equity reduced. All figures are taken from the published annual accounts for ADREGA AS.
At a glance
Scorecard
What improved
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↑
Net result improved
Net result +537 NOK → +4 398 NOK (net margin 0.0% → 0.2%). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 3.17m NOK to 2.83m NOK (-10.7% YoY). Calculated
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↓
Operating result weakened
Operating result -2.88m NOK → -4.42m NOK (op. margin -91.0% → -156.4%). Calculated
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↓
Equity eroded
Book equity 1.82m NOK → 20.1k NOK (equity ratio 62.6% → 1.5%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 33.52× → 0.83× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
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↓
Payroll up without matching revenue
Salary cost 4.12m NOK → 4.42m NOK (130% → 156% of revenue). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 1.5% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Paid-in equity reduced
Paid-in equity fell 1.82m NOK → 1.49m NOK — check capital reduction, conversion, or reclassification. Interpretation