ADVOKATENE BJØRBÆK AS: årsregnskap 2009 vs 2008
Shrank 51% on revenue, stronger earnings, cash halved-plus
approved 2010-04-07; registry 2010-05-10
Summary
What changed
Comparing Årsregnskap 2009 with 2008 for ADVOKATENE BJØRBÆK AS. Revenue 7.27m NOK → 3.56m NOK (-51.0%). Net result -569.2k NOK → -271.3k NOK. Equity 148.8k NOK → -122.5k NOK.
On the constructive side: operating result improved; net result improved; payroll decreased. Pressures included: revenue fell; equity eroded; cash fell.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for ADVOKATENE BJØRBÆK AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result -489.5k NOK → -162.0k NOK (op. margin -6.7% → -4.5%). Calculated
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Net result improved
Net result -569.2k NOK → -271.3k NOK (net margin -7.8% → -7.6%). Calculated
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Payroll decreased
Salary cost 5.19m NOK → 2.12m NOK (71% → 59% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 7.27m NOK to 3.56m NOK (-51.0% YoY). Calculated
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↓
Equity eroded
Book equity 148.8k NOK → -122.5k NOK (equity ratio 7.1% → -9.7%). Calculated
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↓
Cash fell
Bank deposits 253.6k NOK → 59.5k NOK (-76.6% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is -9.7% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation