ADVOKATSELSKAPET JUSTITIA AS: årsregnskap 2003 vs 2002
Stronger earnings, fresh owner capital
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for ADVOKATSELSKAPET JUSTITIA AS. Revenue 3.76m NOK → 3.67m NOK (-2.2%). Net result +357.6k NOK → +530.4k NOK. Equity 511.4k NOK → 195.7k NOK.
On the constructive side: operating result improved; net result improved; cash rose. Pressures included: revenue fell; equity eroded.
Also worth watching: thin equity buffer; book investments changed. All figures are taken from the published annual accounts for ADVOKATSELSKAPET JUSTITIA AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result +433.9k NOK → +649.9k NOK (op. margin 11.5% → 17.7%). Calculated
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Net result improved
Net result +357.6k NOK → +530.4k NOK (net margin 9.5% → 14.4%). Calculated
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Cash rose
Bank deposits 262.7k NOK → 948.4k NOK (+261.1% YoY). Calculated
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Owners injected capital
Paid-in equity rose 50.0k NOK → 100.0k NOK (+50.0k NOK). Reported fact
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 3.76m NOK to 3.67m NOK (-2.2% YoY). Calculated
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↓
Equity eroded
Book equity 511.4k NOK → 195.7k NOK (equity ratio 21.9% → 10.0%). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 10.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Book investments changed
Investment / intangible book value 418.5k NOK → 200.0k NOK. Reported fact