BORGESTAD ASA: årsregnskap 2020 vs 2019
Shrank 20% on revenue, weaker earnings, cash halved-plus
approved 2021-06-10; registry 2021-08-02; journal 2021 541569
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for BORGESTAD ASA. Revenue 975.0k NOK → 778.0k NOK (-20.2%). Net result -61.65m NOK → -178.38m NOK. Equity 529.8k NOK → 351.60m NOK.
On the constructive side: operating result improved; equity strengthened; payroll decreased. Pressures included: revenue fell; net result weakened; cash fell.
Also worth watching: sharp cash drawdown; paid-in equity reduced; book investments changed. All figures are taken from the published annual accounts for BORGESTAD ASA.
At a glance
Scorecard
What improved
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Operating result improved
Operating result -12.38m NOK → -11.29m NOK (op. margin -1269.3% → -1450.5%). Calculated
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Equity strengthened
Book equity 529.8k NOK → 351.60m NOK (equity ratio 65.1% → 54.8%). Calculated
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Payroll decreased
Salary cost 16291986000.30bn NOK → 15 NOK (1670972923108150% → 0% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 975.0k NOK to 778.0k NOK (-20.2% YoY). Calculated
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Net result weakened
Net result -61.65m NOK → -178.38m NOK (net margin -6323.1% → -22928.3%). Calculated
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Cash fell
Bank deposits 25.76m NOK → 955.0k NOK (-96.3% YoY). Calculated
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↓
Current ratio dropped below 1×
Current ratio 10.71× → 0.40× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
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COGS moved
COGS / varekostnad 4.28m NOK → 4.31m NOK (+0.7% YoY). Calculated
Things to notice
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Sharp cash drawdown
Cash fell by more than 60% YoY (25.76m NOK → 955.0k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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Paid-in equity reduced
Paid-in equity fell 236.45m NOK → 236.18m NOK — check capital reduction, conversion, or reclassification. Interpretation
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Book investments changed
Investment / intangible book value 782.6k NOK → 29.89m NOK. Reported fact