AIR TRADE SUPPORT AS: årsregnskap 2015 vs 2014
Grew 76% on revenue, stronger earnings, cash halved-plus
approved 2016-04-14; registry 2016-04-19; journal 2016 376165
Summary
What changed
Comparing Årsregnskap 2015 with 2014 for AIR TRADE SUPPORT AS. Revenue 21.26m NOK → 37.49m NOK (+76.3%). Net result +705.0k NOK → +1.91m NOK. Equity 470.6k NOK → 254.4k NOK.
On the constructive side: revenue rose; net result improved. Pressures included: equity eroded; cash fell; current ratio dropped below 1×.
Also worth watching: thin equity buffer; payroll increased; cogs moved. All figures are taken from the published annual accounts for AIR TRADE SUPPORT AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 21.26m NOK to 37.49m NOK (+76.3% YoY). Calculated
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Net result improved
Net result +705.0k NOK → +1.91m NOK (net margin 3.3% → 5.1%). Calculated
What deteriorated
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↓
Equity eroded
Book equity 470.6k NOK → 254.4k NOK (equity ratio 10.8% → 2.7%). Calculated
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↓
Cash fell
Bank deposits 648.5k NOK → 241.2k NOK (-62.8% YoY). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.06× → 0.99× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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Thin equity buffer
Equity ratio is 2.7% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Payroll increased
Salary cost 2.60m NOK → 2.79m NOK (12% → 7% of revenue). Calculated
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COGS moved
COGS / varekostnad 16.62m NOK → 30.87m NOK (+85.7% YoY). Calculated
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Book investments changed
Investment / intangible book value 177.0k NOK → 263.3k NOK. Reported fact