ADURNA AS: årsregnskap 2004 vs 2003
Shrank 27% on revenue
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for ADURNA AS. Revenue 724.9k NOK → 527.4k NOK (-27.3%). Equity 135.8k NOK → 364.1k NOK.
On the constructive side: equity strengthened. Pressures included: revenue fell; operating result weakened; current ratio dropped below 1×.
Also worth watching: paid-in equity reduced. All figures are taken from the published annual accounts for ADURNA AS.
At a glance
Scorecard
What improved
-
↑
Equity strengthened
Book equity 135.8k NOK → 364.1k NOK (equity ratio 10.0% → 10.0%). Calculated
What deteriorated
-
↓
Revenue fell
Operating income / revenue moved from 724.9k NOK to 527.4k NOK (-27.3% YoY). Calculated
-
↓
Operating result weakened
Operating result +204.7k NOK → +27.9k NOK (op. margin 28.2% → 5.3%). Calculated
-
↓
Current ratio dropped below 1×
Current ratio 1.90× → 0.54× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
-
↓
Payroll up without matching revenue
Salary cost 382.4k NOK → 413.3k NOK (53% → 78% of revenue). Calculated
Things to notice
-
·
Paid-in equity reduced
Paid-in equity fell 100.0k NOK → 350 NOK — check capital reduction, conversion, or reclassification. Interpretation