ECOTEQ ENERGY ASA: årsregnskap 2018 vs 2017
Grew 65094% on revenue, stronger earnings, cash halved-plus
approved 2020-06-30; registry 2020-07-04; journal 2020 557655
Summary
What changed
Comparing Årsregnskap 2018 with 2017 for ECOTEQ ENERGY ASA. Revenue 566 NOK → 369.0k NOK (+65094.3%). Net result -3.90m NOK → -2.91m NOK. Equity -5.77m NOK → -7.88m NOK.
On the constructive side: revenue rose; net result improved; payroll decreased. Pressures included: equity eroded; cash fell.
Also worth watching: thin equity buffer; book investments changed. All figures are taken from the published annual accounts for ECOTEQ ENERGY ASA.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 566 NOK to 369.0k NOK (+65094.3% YoY). Calculated
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Net result improved
Net result -3.90m NOK → -2.91m NOK (net margin -688692.6% → -789.2%). Calculated
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Payroll decreased
Salary cost 271.0k NOK → 280 NOK (47880% → 0% of revenue). Calculated
What deteriorated
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↓
Equity eroded
Book equity -5.77m NOK → -7.88m NOK (equity ratio -122.0% → -227.9%). Calculated
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↓
Cash fell
Bank deposits 67.0k NOK → 23.0k NOK (-65.7% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is -227.9% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Book investments changed
Investment / intangible book value 287.0k NOK → 2.69m NOK. Reported fact