AKADEMIET FREDRIKSTAD AS: årsregnskap 2006 vs 2005
Shrank 10% on revenue, stronger earnings
Summary
What changed
Comparing Årsregnskap 2006 with 2005 for AKADEMIET FREDRIKSTAD AS. Revenue 935.0k NOK → 844.7k NOK (-9.7%). Net result +11.5k NOK → +337.6k NOK. Equity 121.5k NOK → -216.1k NOK.
On the constructive side: operating result improved; net result improved. Pressures included: revenue fell; equity eroded; current ratio dropped below 1×.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for AKADEMIET FREDRIKSTAD AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result +15.9k NOK → +331.9k NOK (op. margin 1.7% → 39.3%). Calculated
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Net result improved
Net result +11.5k NOK → +337.6k NOK (net margin 1.2% → 40.0%). Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 935.0k NOK to 844.7k NOK (-9.7% YoY). Calculated
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Equity eroded
Book equity 121.5k NOK → -216.1k NOK (equity ratio 24.3% → -52.5%). Calculated
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Current ratio dropped below 1×
Current ratio 1.32× → 0.47× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
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Payroll up without matching revenue
Salary cost 1 250 NOK → 1.61m NOK (0% → 190% of revenue). Calculated
Things to notice
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Thin equity buffer
Equity ratio is -52.5% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation