ADSEO AS: årsregnskap 2018 vs 2017
Grew 498% on revenue, weaker earnings
approved 2019-06-30; registry 2019-07-31; journal 2019 837035
Summary
What changed
Comparing Årsregnskap 2018 with 2017 for ADSEO AS. Revenue 42.6k NOK → 254.4k NOK (+497.9%). Net result -38.2k NOK → -149.4k NOK. Equity 25.0k NOK → -124.4k NOK.
On the constructive side: revenue rose; payroll decreased. Pressures included: operating result weakened; net result weakened; equity eroded.
Also worth watching: thin equity buffer; cogs fell. All figures are taken from the published annual accounts for ADSEO AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 42.6k NOK to 254.4k NOK (+497.9% YoY). Calculated
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↑
Payroll decreased
Salary cost 348.2k NOK → 89.1k NOK (818% → 35% of revenue). Calculated
What deteriorated
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↓
Operating result weakened
Operating result -38.2k NOK → -148.1k NOK (op. margin -89.8% → -58.2%). Calculated
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↓
Net result weakened
Net result -38.2k NOK → -149.4k NOK (net margin -89.9% → -58.7%). Calculated
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↓
Equity eroded
Book equity 25.0k NOK → -124.4k NOK (equity ratio 9.2% → -91.3%). Calculated
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↓
Cash fell
Bank deposits 94.9k NOK → 55.8k NOK (-41.2% YoY). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.10× → 0.52× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -91.3% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
COGS fell
COGS / varekostnad 115.9k NOK → 53.7k NOK (-53.6% YoY). Calculated