ADVOKATFIRMAET WULFF AS: årsregnskap 2021 vs 2020
Grew 7% on revenue, weaker earnings, cash halved-plus
approved 2022-04-25; registry 2022-05-04; journal 2022 255870
Summary
What changed
Comparing Årsregnskap 2021 with 2020 for ADVOKATFIRMAET WULFF AS. Revenue 4.47m NOK → 4.78m NOK (+7.0%). Net result +970.6k NOK → +16.3k NOK. Equity 456.6k NOK → 415.1k NOK.
On the constructive side: revenue rose; operating result improved; owners injected capital. Pressures included: net result weakened; equity eroded; cash fell.
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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Revenue rose
Operating income / revenue moved from 4.47m NOK to 4.78m NOK (+7.0% YoY). Calculated
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Operating result improved
Operating result +424.4k NOK → +1.56m NOK (op. margin 9.5% → 32.5%). Calculated
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Owners injected capital
Paid-in equity rose 30.0k NOK → 70.0k NOK (+40.0k NOK). Reported fact
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Payroll decreased
Salary cost 1.92m NOK → 1.58m NOK (43% → 33% of revenue). Calculated
What deteriorated
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Net result weakened
Net result +970.6k NOK → +16.3k NOK (net margin 21.7% → 0.3%). Calculated
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Equity eroded
Book equity 456.6k NOK → 415.1k NOK (equity ratio 6.5% → 1.9%). Calculated
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Cash fell
Bank deposits 142.3k NOK → 53.5k NOK (-62.4% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 1.9% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation