AGENDA KAUPANG AS: årsregnskap 2004 vs 2003
Mixed movements in the accounts
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for AGENDA KAUPANG AS. Revenue 25.48m NOK → 26.70m NOK (+4.8%). Equity 3.72m NOK → 184.1k NOK.
On the constructive side: revenue rose; operating result improved; owners injected capital. Pressures included: equity eroded.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for AGENDA KAUPANG AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 25.48m NOK to 26.70m NOK (+4.8% YoY). Calculated
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↑
Operating result improved
Operating result +781.6k NOK → +833.2k NOK (op. margin 3.1% → 3.1%). Calculated
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↑
Owners injected capital
Paid-in equity rose 1.86m NOK → 2.03m NOK (+172.1k NOK). Reported fact
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↑
Payroll decreased
Salary cost 16.22m NOK → 2 004 NOK (64% → 0% of revenue). Calculated
What deteriorated
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↓
Equity eroded
Book equity 3.72m NOK → 184.1k NOK (equity ratio 42.9% → 1.8%). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 1.8% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation