ECOTEQ ENERGY ASA: årsregnskap 2019 vs 2018
Shrank 45% on revenue, weaker earnings, cash halved-plus
approved 2020-11-20; registry 2020-11-24; journal 2020 970876
Summary
What changed
Comparing Årsregnskap 2019 with 2018 for ECOTEQ ENERGY ASA. Revenue 369.0k NOK → 204.0k NOK (-44.7%). Net result -2.91m NOK → -6.30m NOK. Equity -7.88m NOK → -13.57m NOK.
On the constructive side: current ratio back above 1×. Pressures included: revenue fell; net result weakened; equity eroded.
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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↑
Current ratio back above 1×
Current ratio 0.00× → 1.04×. Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 369.0k NOK to 204.0k NOK (-44.7% YoY). Calculated
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↓
Net result weakened
Net result -2.91m NOK → -6.30m NOK (net margin -789.2% → -3087.7%). Calculated
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↓
Equity eroded
Book equity -7.88m NOK → -13.57m NOK (equity ratio -227.9% → -2137.8%). Calculated
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↓
Cash fell
Bank deposits 23.0k NOK → 5 000 NOK (-78.3% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -2137.8% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
-
·
Book investments changed
Investment / intangible book value 2.69m NOK → 2 685 NOK. Reported fact