FirmaIQ
Org.nr 925 615 722 2022 → 2023 Year-over-year analysis

ADVANCE ENGINEERING AS: årsregnskap 2023 vs 2022

Grew 120085% on revenue, stronger earnings

approved 2024-02-28; registry 2024-03-02; journal 2024 316046

Full company analysis · All year comparisons

Summary

What changed

Comparing Årsregnskap 2023 with 2022 for ADVANCE ENGINEERING AS. Revenue 2 123 NOK → 2.55m NOK (+120085.4%). Net result +959.8k NOK → +1.19m NOK. Equity 89.7k NOK → 30.0k NOK.

On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: equity eroded.

Also worth watching: thin equity buffer; payroll increased. All figures are taken from the published annual accounts for ADVANCE ENGINEERING AS.

At a glance

Scorecard

Revenue
2 123 NOK 2.55m NOK
+120085.4%
Operating result
+1 229 NOK +1.52m NOK
+123811.5%
Net result
+959.8k NOK +1.19m NOK
+23.7%
Equity
89.7k NOK 30.0k NOK
-66.6%
Cash
1 282 NOK 1.63m NOK
+127087.6%
Total assets
1.51m NOK 1.89m NOK
+25.2%

What improved

  • ↑

    Revenue rose

    Operating income / revenue moved from 2 123 NOK to 2.55m NOK (+120085.4% YoY). Calculated

  • ↑

    Operating result improved

    Operating result +1 229 NOK → +1.52m NOK (op. margin 57.9% → 59.7%). Calculated

  • ↑

    Net result improved

    Net result +959.8k NOK → +1.19m NOK (net margin 45211.1% → 46.5%). Calculated

  • ↑

    Cash rose

    Bank deposits 1 282 NOK → 1.63m NOK (+127087.6% YoY). Calculated

What deteriorated

  • ↓

    Equity eroded

    Book equity 89.7k NOK → 30.0k NOK (equity ratio 5.9% → 1.6%). Calculated

Things to notice

  • ·

    Thin equity buffer

    Equity ratio is 1.6% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation

  • ·

    Payroll increased

    Salary cost 0 NOK → 3.97m NOK (0% → 156% of revenue). Calculated