AGF VVS AS: årsregnskap 2025 vs 2024
Shrank 34% on revenue, cash halved-plus
approved 2026-06-23; registry 2026-07-23; journal 2026 626884
Summary
What changed
Comparing Årsregnskap 2025 with 2024 for AGF VVS AS. Revenue 12.58m NOK → 8.33m NOK (-33.8%). Net result -248.5k NOK → -225.6k NOK. Equity 70.4k NOK → -155.2k NOK.
On the constructive side: operating result improved; net result improved; payroll decreased. Pressures included: revenue fell; equity eroded; cash fell.
Also worth watching: thin equity buffer; cogs fell; book investments changed. All figures are taken from the published annual accounts for AGF VVS AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result -313.6k NOK → -166.4k NOK (op. margin -2.5% → -2.0%). Calculated
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Net result improved
Net result -248.5k NOK → -225.6k NOK (net margin -2.0% → -2.7%). Calculated
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Payroll decreased
Salary cost 2.00m NOK → 1 170 NOK (16% → 0% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 12.58m NOK to 8.33m NOK (-33.8% YoY). Calculated
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↓
Equity eroded
Book equity 70.4k NOK → -155.2k NOK (equity ratio 3.0% → -7.1%). Calculated
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↓
Cash fell
Bank deposits 457.9k NOK → 159.2k NOK (-65.2% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is -7.1% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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COGS fell
COGS / varekostnad 11.27m NOK → 6.49m NOK (-42.4% YoY). Calculated
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Book investments changed
Investment / intangible book value 46.5k NOK → 36.2k NOK. Reported fact