ADVOKATFIRMAET HAAGENSEN & JOHNSEN AS: årsregnskap 2020 vs 2019
Shrank 5% on revenue, cash halved-plus
approved 2021-04-28; registry 2021-05-01; journal 2021 244089
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for ADVOKATFIRMAET HAAGENSEN & JOHNSEN AS. Revenue 7.38m NOK → 7.00m NOK (-5.1%). Net result +626.1k NOK → +685.0k NOK. Equity 56.1k NOK → 30.0k NOK.
On the constructive side: operating result improved; net result improved. Pressures included: revenue fell; equity eroded; cash fell.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for ADVOKATFIRMAET HAAGENSEN & JOHNSEN AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result +797.1k NOK → +886.8k NOK (op. margin 10.8% → 12.7%). Calculated
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↑
Net result improved
Net result +626.1k NOK → +685.0k NOK (net margin 8.5% → 9.8%). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 7.38m NOK to 7.00m NOK (-5.1% YoY). Calculated
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↓
Equity eroded
Book equity 56.1k NOK → 30.0k NOK (equity ratio 2.8% → 2.0%). Calculated
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↓
Cash fell
Bank deposits 829.9k NOK → 382.0k NOK (-54.0% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 2.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation