ADVOKAT ØYSTEIN HJELMESET AS: årsregnskap 2020 vs 2019
Shrank 19% on revenue, slipped into loss
approved 2021-04-30; registry 2021-06-05; journal 2021 390106
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for ADVOKAT ØYSTEIN HJELMESET AS. Revenue 1.61m NOK → 1.30m NOK (-19.4%). Net result +10.4k NOK → -143.2k NOK. Equity 164.3k NOK → 21.1k NOK.
On the constructive side: cash rose; payroll decreased. Pressures included: revenue fell; operating result weakened; fell into a net loss.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for ADVOKAT ØYSTEIN HJELMESET AS.
At a glance
Scorecard
What improved
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Cash rose
Bank deposits 39.2k NOK → 111.3k NOK (+183.7% YoY). Calculated
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Payroll decreased
Salary cost 995.3k NOK → 990.0k NOK (62% → 76% of revenue). Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 1.61m NOK to 1.30m NOK (-19.4% YoY). Calculated
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Operating result weakened
Operating result +14.1k NOK → -183.4k NOK (op. margin 0.9% → -14.1%). Calculated
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Fell into a net loss
Net result flipped from 10.4k NOK profit to a loss of 143.2k NOK. Calculated
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Equity eroded
Book equity 164.3k NOK → 21.1k NOK (equity ratio 41.9% → 7.7%). Calculated
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Current ratio dropped below 1×
Current ratio 1.61× → 0.87× — 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 7.7% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation