AHSCO ENTREPRENØR AS: årsregnskap 2020 vs 2019
Stronger earnings, cash halved-plus
approved 2021-06-29; registry 2021-07-21; journal 2021 519114
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for AHSCO ENTREPRENØR AS. Revenue 57.78m NOK → 56.75m NOK (-1.8%). Net result +3.65m NOK → +5.25m NOK. Equity 11.52m NOK → 11.77m 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; book investments changed. All figures are taken from the published annual accounts for AHSCO ENTREPRENØR AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result +3.62m NOK → +4.75m NOK (op. margin 6.3% → 8.4%). Calculated
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Net result improved
Net result +3.65m NOK → +5.25m NOK (net margin 6.3% → 9.3%). Calculated
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Equity strengthened
Book equity 11.52m NOK → 11.77m NOK (equity ratio 32.4% → 29.7%). Calculated
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Payroll decreased
Salary cost 14.30m NOK → 14.17m NOK (25% → 25% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 57.78m NOK to 56.75m NOK (-1.8% YoY). Calculated
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Cash fell
Bank deposits 5.65m NOK → 1.45m NOK (-74.3% YoY). Calculated
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Current ratio dropped below 1×
Current ratio 1.48× → 0.41× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
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COGS moved
COGS / varekostnad 15.70m NOK → 15.83m NOK (+0.8% YoY). Calculated
Things to notice
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Sharp cash drawdown
Cash fell by more than 60% YoY (5.65m NOK → 1.45m NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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Book investments changed
Investment / intangible book value 558 NOK → 28.3k NOK. Reported fact