AKA SYSTEM INVEST AS: årsregnskap 2004 vs 2003
Shrank 94% on revenue, weaker earnings
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for AKA SYSTEM INVEST AS. Revenue 660.0k NOK → 37.4k NOK (-94.3%). Net result +151.8k NOK → +1 419 NOK. Equity 112.9k NOK → 111.5k NOK.
On the constructive side: operating result improved. Pressures included: revenue fell; net result weakened; equity eroded.
Also worth watching: book investments changed. All figures are taken from the published annual accounts for AKA SYSTEM INVEST AS.
At a glance
Scorecard
What improved
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↑
Operating result improved
Operating result +153.5k NOK → +1.53m NOK (op. margin 23.3% → 4101.0%). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 660.0k NOK to 37.4k NOK (-94.3% YoY). Calculated
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↓
Net result weakened
Net result +151.8k NOK → +1 419 NOK (net margin 23.0% → 3.8%). Calculated
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↓
Equity eroded
Book equity 112.9k NOK → 111.5k NOK (equity ratio 64.0% → 100.0%). Calculated
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↓
Cash fell
Bank deposits 89.8k NOK → 81.2k NOK (-9.6% YoY). Calculated
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↓
Payroll up without matching revenue
Salary cost 2 NOK → 9 310 NOK (0% → 25% of revenue). Calculated
Things to notice
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·
Book investments changed
Investment / intangible book value 66.7k NOK → 28.9k NOK. Reported fact