AKAF AS: årsregnskap 2014 vs 2013
Stronger earnings, fresh owner capital
approved 2015-04-09; registry 2015-06-10; journal 2015 443691
Summary
What changed
Comparing Årsregnskap 2014 with 2013 for AKAF AS. Revenue 3.13m NOK → 3.00m NOK (-4.2%). Net result +259.8k NOK → +428.6k NOK. Equity 682.1k NOK → 110.6k NOK.
On the constructive side: operating result improved; net result improved; cash rose. Pressures included: revenue fell; equity eroded.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for AKAF AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result +282.0k NOK → +1.81m NOK (op. margin 9.0% → 60.2%). Calculated
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Net result improved
Net result +259.8k NOK → +428.6k NOK (net margin 8.3% → 14.3%). Calculated
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Cash rose
Bank deposits 536.1k NOK → 688.3k NOK (+28.4% YoY). Calculated
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Current ratio back above 1×
Current ratio 0.08× → 1.23×. Calculated
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Owners injected capital
Paid-in equity rose 1.00m NOK → 4.00m NOK (+3.00m NOK). Reported fact
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 3.13m NOK to 3.00m NOK (-4.2% YoY). Calculated
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↓
Equity eroded
Book equity 682.1k NOK → 110.6k NOK (equity ratio 1.7% → 0.3%). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 0.3% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation