AK MEKANISKE AS: årsregnskap 2003 vs 2002
Grew 283860% on revenue, stronger earnings
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for AK MEKANISKE AS. Revenue 1 827 NOK → 5.19m NOK (+283859.6%). Net result +81.3k NOK → +183.4k NOK. Equity 225.3k NOK → 42.0k NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: equity eroded; current ratio dropped below 1×.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for AK MEKANISKE AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 1 827 NOK to 5.19m NOK (+283859.6% YoY). Calculated
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Operating result improved
Operating result +112.0k NOK → +191.0k NOK (op. margin 6132.1% → 3.7%). Calculated
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Net result improved
Net result +81.3k NOK → +183.4k NOK (net margin 4452.7% → 3.5%). Calculated
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Cash rose
Bank deposits 39.5k NOK → 78.9k NOK (+99.7% YoY). Calculated
What deteriorated
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↓
Equity eroded
Book equity 225.3k NOK → 42.0k NOK (equity ratio 17509.7% → 2.1%). Calculated
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Current ratio dropped below 1×
Current ratio 1.07× → 0.86× — 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 2.1% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation