HUNTER GROUP ASA: årsregnskap 2005 vs 2004
Shrank 60% on revenue, stronger earnings
Summary
What changed
Comparing Årsregnskap 2005 with 2004 for HUNTER GROUP ASA. Revenue 434.8k NOK → 174.0k NOK (-60.0%). Net result +30.0k NOK → +318.4k NOK. Equity 374.7k NOK → 12 NOK.
On the constructive side: net result improved; current ratio back above 1×. Pressures included: revenue fell; operating result weakened; equity eroded.
Also worth watching: thin equity buffer; paid-in equity reduced. All figures are taken from the published annual accounts for HUNTER GROUP ASA.
At a glance
Scorecard
What improved
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Net result improved
Net result +30.0k NOK → +318.4k NOK (net margin 6.9% → 183.0%). Calculated
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Current ratio back above 1×
Current ratio 0.95× → 22.97×. Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 434.8k NOK to 174.0k NOK (-60.0% YoY). Calculated
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Operating result weakened
Operating result +74.3k NOK → -2.24m NOK (op. margin 17.1% → -1286.0%). Calculated
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↓
Equity eroded
Book equity 374.7k NOK → 12 NOK (equity ratio 84.0% → 0.0%). Calculated
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Payroll up without matching revenue
Salary cost 0 NOK → 7 336 NOK (0% → 4% of revenue). Calculated
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COGS moved
COGS / varekostnad 477.7k NOK → 4.21m NOK (+780.5% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 0.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Paid-in equity reduced
Paid-in equity fell 490.0k NOK → 11 NOK — check capital reduction, conversion, or reclassification. Interpretation