CYTOVATION ASA: årsregnskap 2004 vs 2003
Shrank 100% on revenue, fresh owner capital
Summary
What changed
Comparing Årsregnskap 2004 with 2003 for CYTOVATION ASA. Revenue 415.0k NOK → 420 NOK (-99.9%). Equity 38.7k NOK → -285.4k NOK.
On the constructive side: owners injected capital; payroll decreased. Pressures included: revenue fell; operating result weakened; equity eroded.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for CYTOVATION ASA.
At a glance
Scorecard
What improved
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↑
Owners injected capital
Paid-in equity rose 102 NOK → 102.0k NOK (+101.9k NOK). Reported fact
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↑
Payroll decreased
Salary cost 11.4k NOK → 0 NOK (3% → 0% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 415.0k NOK to 420 NOK (-99.9% YoY). Calculated
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↓
Operating result weakened
Operating result -27.4k NOK → -301.4k NOK (op. margin -6.6% → -71769.3%). Calculated
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↓
Equity eroded
Book equity 38.7k NOK → -285.4k NOK (equity ratio 8.0% → -29.0%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.84× → 0.77× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -29.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation