ADVANCED ENGINEERING SYSTEMS AS: årsregnskap 2005 vs 2004
Grew 146% on revenue, stronger earnings
Summary
What changed
Comparing Årsregnskap 2005 with 2004 for ADVANCED ENGINEERING SYSTEMS AS. Revenue 374.4k NOK → 920.4k NOK (+145.8%). Net result +50.8k NOK → +328.3k NOK. Equity 110.8k NOK → 439.1k NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: current ratio dropped below 1×.
Also worth watching: payroll increased; cogs moved. All figures are taken from the published annual accounts for ADVANCED ENGINEERING SYSTEMS AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 374.4k NOK to 920.4k NOK (+145.8% YoY). Calculated
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Operating result improved
Operating result +91.4k NOK → +476.9k NOK (op. margin 24.4% → 51.8%). Calculated
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Net result improved
Net result +50.8k NOK → +328.3k NOK (net margin 13.6% → 35.7%). Calculated
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Equity strengthened
Book equity 110.8k NOK → 439.1k NOK (equity ratio 22.3% → 75.6%). Calculated
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Cash rose
Bank deposits 93.9k NOK → 5.52m NOK (+5777.9% YoY). Calculated
What deteriorated
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Current ratio dropped below 1×
Current ratio 1.25× → 0.05× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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Payroll increased
Salary cost 81.8k NOK → 7.49m NOK (22% → 814% of revenue). Calculated
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COGS moved
COGS / varekostnad 177.2k NOK → 520.2k NOK (+193.5% YoY). Calculated