AGENTURHUSET SALG AS: årsregnskap 2005 vs 2004
Grew 27% on revenue, stronger earnings
Summary
What changed
Comparing Årsregnskap 2005 with 2004 for AGENTURHUSET SALG AS. Revenue 21.15m NOK → 26.82m NOK (+26.8%). Net result +125.4k NOK → +519.3k NOK. Equity 539.5k NOK → 50.8k NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: equity eroded.
Also worth watching: thin equity buffer; cogs moved; book investments changed. All figures are taken from the published annual accounts for AGENTURHUSET SALG AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 21.15m NOK to 26.82m NOK (+26.8% YoY). Calculated
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Operating result improved
Operating result +141.2k NOK → +980.3k NOK (op. margin 0.7% → 3.7%). Calculated
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Net result improved
Net result +125.4k NOK → +519.3k NOK (net margin 0.6% → 1.9%). Calculated
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Cash rose
Bank deposits 663.2k NOK → 759.8k NOK (+14.6% YoY). Calculated
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Current ratio back above 1×
Current ratio 0.97× → 1.03×. Calculated
What deteriorated
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Equity eroded
Book equity 539.5k NOK → 50.8k NOK (equity ratio 7.8% → 0.7%). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 0.7% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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COGS moved
COGS / varekostnad 13.96m NOK → 17.56m NOK (+25.8% YoY). Calculated
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Book investments changed
Investment / intangible book value 444.0k NOK → 387.1k NOK. Reported fact