ADVOKATFIRMAET HERMANSEN AS: årsregnskap 2018 vs 2017
Grew 42% on revenue, slipped into loss
approved 2019-04-30; registry 2019-05-04; journal 2019 328913
Summary
What changed
Comparing Årsregnskap 2018 with 2017 for ADVOKATFIRMAET HERMANSEN AS. Revenue 573.8k NOK → 816.9k NOK (+42.4%). Net result +50.1k NOK → -311.8k NOK. Equity 180.6k NOK → -131.1k NOK.
On the constructive side: revenue rose; cash rose; payroll decreased. Pressures included: operating result weakened; fell into a net loss; equity eroded.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for ADVOKATFIRMAET HERMANSEN AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 573.8k NOK to 816.9k NOK (+42.4% YoY). Calculated
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Cash rose
Bank deposits 15.8k NOK → 30.9k NOK (+94.7% YoY). Calculated
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Payroll decreased
Salary cost 6.86m NOK → 6.49m NOK (1195% → 795% of revenue). Calculated
What deteriorated
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Operating result weakened
Operating result +88.4k NOK → -288.8k NOK (op. margin 15.4% → -35.4%). Calculated
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Fell into a net loss
Net result flipped from 50.1k NOK profit to a loss of 311.8k NOK. Calculated
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Equity eroded
Book equity 180.6k NOK → -131.1k NOK (equity ratio 36.2% → -33.7%). Calculated
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Current ratio dropped below 1×
Current ratio 1.57× → 0.75× — 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 -33.7% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation