ADVOKATFIRMAET HALVORSEN & CO AS: årsregnskap 2021 vs 2020
Weaker earnings, cash halved-plus
approved 2022-02-25; registry 2022-03-01; journal 2022 129537
Summary
What changed
Comparing Årsregnskap 2021 with 2020 for ADVOKATFIRMAET HALVORSEN & CO AS. Revenue 40.02m NOK → 40.06m NOK (+0.1%). Net result +6.81m NOK → +4.08m NOK. Equity 10.48m NOK → 8.58m NOK.
On the constructive side: revenue rose. Pressures included: operating result weakened; net result weakened; equity eroded.
Also worth watching: sharp cash drawdown; paid-in equity reduced; payroll increased. All figures are taken from the published annual accounts for ADVOKATFIRMAET HALVORSEN & CO AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 40.02m NOK to 40.06m NOK (+0.1% YoY). Calculated
What deteriorated
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↓
Operating result weakened
Operating result +8.96m NOK → +5.45m NOK (op. margin 22.4% → 13.6%). Calculated
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↓
Net result weakened
Net result +6.81m NOK → +4.08m NOK (net margin 17.0% → 10.2%). Calculated
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↓
Equity eroded
Book equity 10.48m NOK → 8.58m NOK (equity ratio 48.7% → 44.5%). Calculated
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↓
Cash fell
Bank deposits 3.71m NOK → 612.5k NOK (-83.5% YoY). Calculated
Things to notice
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·
Sharp cash drawdown
Cash fell by more than 60% YoY (3.71m NOK → 612.5k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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·
Paid-in equity reduced
Paid-in equity fell 2.80m NOK → 1.72m NOK — check capital reduction, conversion, or reclassification. Interpretation
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·
Payroll increased
Salary cost 23.33m NOK → 26.01m NOK (58% → 65% of revenue). Calculated