ADRENALIN AS: årsregnskap 2004 vs 2003
Grew 9630% on revenue, slipped into loss
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for ADRENALIN AS. Revenue 1 149 NOK → 111.8k NOK (+9630.2%). Net result +553.3k NOK → -220.1k NOK. Equity 114.8k NOK → -105.3k NOK.
On the constructive side: revenue rose; payroll decreased. Pressures included: operating result weakened; fell into a net loss; equity eroded.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for ADRENALIN AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 1 149 NOK to 111.8k NOK (+9630.2% YoY). Calculated
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↑
Payroll decreased
Salary cost 155.8k NOK → 128.3k NOK (13559% → 115% of revenue). Calculated
What deteriorated
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↓
Operating result weakened
Operating result +770.9k NOK → -216.4k NOK (op. margin 67090.5% → -193.6%). Calculated
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↓
Fell into a net loss
Net result flipped from 553.3k NOK profit to a loss of 220.1k NOK. Calculated
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↓
Equity eroded
Book equity 114.8k NOK → -105.3k NOK (equity ratio 99.7% → -191.4%). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -191.4% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation