AGRO EAST AS: årsregnskap 2009 vs 2008
Stronger earnings, cash halved-plus
approved 2010-06-30; registry 2010-08-21; journal 2010 608538
Summary
What changed
Comparing Årsregnskap 2009 with 2008 for AGRO EAST AS. Revenue 0 NOK → 0 NOK (0.0%). Net result -254.8k NOK → -102.0k NOK. Equity 118.8k NOK → 16.8k NOK.
On the constructive side: operating result improved; net result improved. Pressures included: equity eroded; cash fell; current ratio dropped below 1×.
Also worth watching: thin equity buffer; sharp cash drawdown. All figures are taken from the published annual accounts for AGRO EAST AS.
At a glance
Scorecard
What improved
-
↑
Operating result improved
Operating result -36.7k NOK → -29.3k NOK. Calculated
-
↑
Net result improved
Net result -254.8k NOK → -102.0k NOK. Calculated
What deteriorated
-
↓
Equity eroded
Book equity 118.8k NOK → 16.8k NOK (equity ratio 5.3% → 2.2%). Calculated
-
↓
Cash fell
Bank deposits 1.42m NOK → 101.2k NOK (-92.9% YoY). Calculated
-
↓
Current ratio dropped below 1×
Current ratio 2.12× → 0.52× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
-
·
Thin equity buffer
Equity ratio is 2.2% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
-
·
Sharp cash drawdown
Cash fell by more than 60% YoY (1.42m NOK → 101.2k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation