AIRFIL AS: årsregnskap 2020 vs 2019
Shrank 21% on revenue, cash halved-plus
approved 2021-03-11; registry 2021-03-22; journal 2021 160666
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for AIRFIL AS. Revenue 2.30m NOK → 1.81m NOK (-21.3%). Net result -208.2k NOK → -208.2k NOK. Equity -229.4k NOK → -484.3k NOK.
Pressures included: revenue fell; equity eroded; cash fell.
Also worth watching: operating result unchanged; thin equity buffer; paid-in equity reduced. All figures are taken from the published annual accounts for AIRFIL AS.
At a glance
Scorecard
What deteriorated
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Revenue fell
Operating income / revenue moved from 2.30m NOK to 1.81m NOK (-21.3% YoY). Calculated
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Equity eroded
Book equity -229.4k NOK → -484.3k NOK (equity ratio -37.5% → -118.8%). Calculated
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Cash fell
Bank deposits 143.2k NOK → 62.2k NOK (-56.6% YoY). Calculated
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Current ratio dropped below 1×
Current ratio 1.37× → 0.64× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
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Payroll up without matching revenue
Salary cost 315.0k NOK → 466.5k NOK (14% → 26% of revenue). Calculated
Things to notice
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Operating result unchanged
Operating result -207.8k NOK → -207.8k NOK (op. margin -9.1% → -11.5%). Calculated
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Thin equity buffer
Equity ratio is -118.8% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Paid-in equity reduced
Paid-in equity fell 289.6k NOK → 150.0k NOK — check capital reduction, conversion, or reclassification. Interpretation
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COGS fell
COGS / varekostnad 1.74m NOK → 1.48m NOK (-14.7% YoY). Calculated