CYTOVATION ASA: årsregnskap 2018 vs 2017
Cash halved-plus
approved 2019-06-26; registry 2019-09-05; journal 2019 933051
Summary
What changed
Comparing Årsregnskap 2018 with 2017 for CYTOVATION ASA. Equity 14.10m NOK → -6.30m NOK.
Pressures included: operating result weakened; equity eroded; cash fell.
Also worth watching: thin equity buffer; sharp cash drawdown; paid-in equity reduced. All figures are taken from the published annual accounts for CYTOVATION ASA.
At a glance
Scorecard
What deteriorated
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↓
Operating result weakened
Operating result -8.79m NOK → -19.92m NOK. Calculated
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↓
Equity eroded
Book equity 14.10m NOK → -6.30m NOK (equity ratio 61.1% → -124.3%). Calculated
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↓
Cash fell
Bank deposits 11.27m NOK → 1.29m NOK (-88.6% YoY). Calculated
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↓
Current ratio dropped below 1×
Current ratio 60.30× → 0.01× — 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 -124.3% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Sharp cash drawdown
Cash fell by more than 60% YoY (11.27m NOK → 1.29m 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 14.10m NOK → 170.9k NOK — check capital reduction, conversion, or reclassification. Interpretation