AKERSHUS ØKONOMI AS: årsregnskap 2003 vs 2002
Grew 26% on revenue, stronger earnings, fresh owner capital
Summary
What changed
Comparing Årsregnskap 2003 with 2002 for AKERSHUS ØKONOMI AS. Revenue 1.60m NOK → 2.01m NOK (+26.1%). Net result +146.5k NOK → +271.1k NOK. Equity 200.5k NOK → 171.6k 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: payroll increased. All figures are taken from the published annual accounts for AKERSHUS ØKONOMI AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 1.60m NOK to 2.01m NOK (+26.1% YoY). Calculated
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Operating result improved
Operating result +299.0k NOK → +400.7k NOK (op. margin 18.7% → 19.9%). Calculated
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Net result improved
Net result +146.5k NOK → +271.1k NOK (net margin 9.2% → 13.5%). Calculated
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Owners injected capital
Paid-in equity rose 50.0k NOK → 100.0k NOK (+50.0k NOK). Reported fact
What deteriorated
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↓
Equity eroded
Book equity 200.5k NOK → 171.6k NOK (equity ratio 13.0% → 10.6%). Calculated
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Current ratio dropped below 1×
Current ratio 17.37× → 0.43× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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Payroll increased
Salary cost 431.4k NOK → 927.7k NOK (27% → 46% of revenue). Calculated