AEKO EIENDOMSUTVIKLING AS: årsregnskap 2021 vs 2020
Shrank 21% on revenue, stronger earnings, cash halved-plus
approved 2022-06-30; registry 2022-08-02; journal 2022 771118
Summary
What changed
Comparing Årsregnskap 2021 with 2020 for AEKO EIENDOMSUTVIKLING AS. Revenue 84.48m NOK → 66.57m NOK (-21.2%). Net result +4.16m NOK → +5.13m NOK. Equity 47.54m NOK → 68.04m NOK.
On the constructive side: operating result improved; net result improved; equity strengthened. Pressures included: revenue fell; cash fell; current ratio dropped below 1×.
Also worth watching: sharp cash drawdown; cogs fell; book investments changed. All figures are taken from the published annual accounts for AEKO EIENDOMSUTVIKLING AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result +5.59m NOK → +5.92m NOK (op. margin 6.6% → 8.9%). Calculated
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Net result improved
Net result +4.16m NOK → +5.13m NOK (net margin 4.9% → 7.7%). Calculated
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Equity strengthened
Book equity 47.54m NOK → 68.04m NOK (equity ratio 42.3% → 67.1%). Calculated
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Owners injected capital
Paid-in equity rose 30.50m NOK → 49.00m NOK (+18.50m NOK). Reported fact
What deteriorated
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Revenue fell
Operating income / revenue moved from 84.48m NOK to 66.57m NOK (-21.2% YoY). Calculated
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Cash fell
Bank deposits 10.89m NOK → 2.10m NOK (-80.7% YoY). Calculated
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Current ratio dropped below 1×
Current ratio 33.05× → 0.90× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
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Payroll up without matching revenue
Salary cost 1.48m NOK → 3.35m NOK (2% → 5% of revenue). Calculated
Things to notice
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Sharp cash drawdown
Cash fell by more than 60% YoY (10.89m NOK → 2.10m NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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COGS fell
COGS / varekostnad 75.57m NOK → 54.59m NOK (-27.8% YoY). Calculated
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Book investments changed
Investment / intangible book value 22.18m NOK → 80.51m NOK. Reported fact