ADVOKATFIRMAET WULFF AS: årsregnskap 2020 vs 2019
Shrank 5% on revenue, stronger earnings
approved 2021-04-29; registry 2021-05-03; journal 2021 253518
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for ADVOKATFIRMAET WULFF AS. Revenue 4.71m NOK → 4.47m NOK (-5.1%). Net result +453.6k NOK → +970.6k NOK. Equity 659.7k NOK → 456.6k NOK.
On the constructive side: net result improved; cash rose; payroll decreased. Pressures included: revenue fell; operating result weakened; equity eroded.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for ADVOKATFIRMAET WULFF AS.
At a glance
Scorecard
What improved
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Net result improved
Net result +453.6k NOK → +970.6k NOK (net margin 9.6% → 21.7%). Calculated
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Cash rose
Bank deposits 9 176 NOK → 142.3k NOK (+1450.5% YoY). Calculated
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Payroll decreased
Salary cost 2.20m NOK → 1.92m NOK (47% → 43% of revenue). Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 4.71m NOK to 4.47m NOK (-5.1% YoY). Calculated
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Operating result weakened
Operating result +817.4k NOK → +424.4k NOK (op. margin 17.3% → 9.5%). Calculated
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Equity eroded
Book equity 659.7k NOK → 456.6k NOK (equity ratio 9.1% → 6.5%). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 6.5% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation