ADVANCED ENGINEERING SYSTEMS AS: årsregnskap 2006 vs 2005
Grew 226% on revenue, cash halved-plus
Summary
What changed
Comparing Årsregnskap 2006 with 2005 for ADVANCED ENGINEERING SYSTEMS AS. Revenue 920.4k NOK → 3.00m NOK (+226.4%). Net result +328.3k NOK → +374.6k NOK. Equity 439.1k NOK → 10.46m NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: cash fell.
Also worth watching: sharp cash drawdown; paid-in equity reduced; 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 920.4k NOK to 3.00m NOK (+226.4% YoY). Calculated
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Operating result improved
Operating result +476.9k NOK → +549.4k NOK (op. margin 51.8% → 18.3%). Calculated
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Net result improved
Net result +328.3k NOK → +374.6k NOK (net margin 35.7% → 12.5%). Calculated
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Equity strengthened
Book equity 439.1k NOK → 10.46m NOK (equity ratio 75.6% → 597.8%). Calculated
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Current ratio back above 1×
Current ratio 0.05× → 1.31×. Calculated
What deteriorated
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Cash fell
Bank deposits 5.52m NOK → 445.4k NOK (-91.9% YoY). Calculated
Things to notice
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Sharp cash drawdown
Cash fell by more than 60% YoY (5.52m NOK → 445.4k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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Paid-in equity reduced
Paid-in equity fell 102.0k NOK → 10.1k NOK — check capital reduction, conversion, or reclassification. Interpretation
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COGS moved
COGS / varekostnad 520.2k NOK → 1.32m NOK (+153.2% YoY). Calculated