ADVOKAT MORTEN ENGESBAK AS: årsregnskap 2021 vs 2020
Shrank 10% on revenue, weaker earnings
approved 2022-04-28; registry 2022-05-02; journal 2022 243347
Summary
What changed
Comparing Årsregnskap 2021 with 2020 for ADVOKAT MORTEN ENGESBAK AS. Revenue 2.90m NOK → 2.60m NOK (-10.4%). Net result +7.21m NOK → +7 NOK. Equity 332.5k NOK → 40.5k NOK.
On the constructive side: cash rose. Pressures included: revenue fell; operating result weakened; net result weakened.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for ADVOKAT MORTEN ENGESBAK AS.
At a glance
Scorecard
What improved
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↑
Cash rose
Bank deposits 362.2k NOK → 494.1k NOK (+36.4% YoY). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 2.90m NOK to 2.60m NOK (-10.4% YoY). Calculated
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↓
Operating result weakened
Operating result +243.1k NOK → -277.3k NOK (op. margin 8.4% → -10.7%). Calculated
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↓
Net result weakened
Net result +7.21m NOK → +7 NOK (net margin 248.7% → 0.0%). Calculated
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↓
Equity eroded
Book equity 332.5k NOK → 40.5k NOK (equity ratio 34.6% → 5.1%). Calculated
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↓
Payroll up without matching revenue
Salary cost 1 472 NOK → 1.63m NOK (0% → 63% of revenue). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 5.1% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation