NORDIC FINANCIALS ASA: årsregnskap 2020 vs 2019
Shrank 95% on revenue, cash halved-plus
approved 2021-04-29; registry 2021-08-12; journal 2021 606815
Summary
What changed
Comparing Årsregnskap 2020 with 2019 for NORDIC FINANCIALS ASA. Revenue 9.17m NOK → 418.8k NOK (-95.4%). Net result +802.4k NOK → +796.7k NOK. Equity 50.95m NOK → 50.82m NOK.
Pressures included: revenue fell; operating result weakened; equity eroded.
Also worth watching: sharp cash drawdown; paid-in equity reduced; book investments changed. All figures are taken from the published annual accounts for NORDIC FINANCIALS ASA.
At a glance
Scorecard
What deteriorated
-
↓
Revenue fell
Operating income / revenue moved from 9.17m NOK to 418.8k NOK (-95.4% YoY). Calculated
-
↓
Operating result weakened
Operating result -942.1k NOK → -3.12m NOK (op. margin -10.3% → -744.8%). Calculated
-
↓
Equity eroded
Book equity 50.95m NOK → 50.82m NOK (equity ratio 36.5% → 37.8%). Calculated
-
↓
Cash fell
Bank deposits 68.68m NOK → 25.91m NOK (-62.3% YoY). Calculated
-
↓
Payroll up without matching revenue
Salary cost 896.6k NOK → 5.73m NOK (10% → 1368% of revenue). Calculated
Things to notice
-
·
Sharp cash drawdown
Cash fell by more than 60% YoY (68.68m NOK → 25.91m NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
-
·
Paid-in equity reduced
Paid-in equity fell 112.77m NOK → 110.84m NOK — check capital reduction, conversion, or reclassification. Interpretation
-
·
Book investments changed
Investment / intangible book value 57.65m NOK → 81.42m NOK. Reported fact