ADVANTEK ENGINEERING AS: årsregnskap 2018 vs 2017
Grew 168% on revenue, stronger earnings
approved 2019-06-17; registry 2019-07-09; journal 2019 632181
Summary
What changed
Comparing Årsregnskap 2018 with 2017 for ADVANTEK ENGINEERING AS. Revenue 13.90m NOK → 37.26m NOK (+168.2%). Net result +452.9k NOK → +2.63m NOK. Equity 100.1k NOK → 100.1k NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: cash fell; current ratio dropped below 1×.
Also worth watching: thin equity buffer; payroll increased; cogs moved. All figures are taken from the published annual accounts for ADVANTEK ENGINEERING AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 13.90m NOK to 37.26m NOK (+168.2% YoY). Calculated
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Operating result improved
Operating result +912.8k NOK → +3.50m NOK (op. margin 6.6% → 9.4%). Calculated
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Net result improved
Net result +452.9k NOK → +2.63m NOK (net margin 3.3% → 7.1%). Calculated
What deteriorated
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↓
Cash fell
Bank deposits 1.36m NOK → 892.8k NOK (-34.3% YoY). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.02× → 0.95× — 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 0.7% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Payroll increased
Salary cost 9.11m NOK → 20.93m NOK (66% → 56% of revenue). Calculated
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COGS moved
COGS / varekostnad 569 NOK → 8 625 NOK (+1415.8% YoY). Calculated
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Book investments changed
Investment / intangible book value 167.8k NOK → 858.7k NOK. Reported fact