TECHSTEP ASA: årsregnskap 2017 vs 2016
Shrank 100% on revenue, stronger earnings, cash halved-plus
approved 2018-04-04; registry 2018-06-12; journal 2018 460394
Summary
What changed
Comparing Årsregnskap 2017 with 2016 for TECHSTEP ASA. Revenue 300.0k NOK → 862 NOK (-99.7%). Net result -27.43m NOK → -8.54m NOK. Equity 275.55m NOK → 511.4k NOK.
On the constructive side: net result improved; current ratio back above 1×; payroll decreased. Pressures included: revenue fell; operating result weakened; equity eroded.
Also worth watching: sharp cash drawdown; paid-in equity reduced; cogs fell. All figures are taken from the published annual accounts for TECHSTEP ASA.
At a glance
Scorecard
What improved
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Net result improved
Net result -27.43m NOK → -8.54m NOK (net margin -9145.0% → -990487.2%). Calculated
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Current ratio back above 1×
Current ratio 0.04× → 1.18×. Calculated
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Payroll decreased
Salary cost 18.10bn NOK → 17.21m NOK (6034680% → 1997100% of revenue). Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 300.0k NOK to 862 NOK (-99.7% YoY). Calculated
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Operating result weakened
Operating result -33.18m NOK → -46.78m NOK (op. margin -11061.3% → -5427378.2%). Calculated
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Equity eroded
Book equity 275.55m NOK → 511.4k NOK (equity ratio 98.1% → 85.4%). Calculated
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Cash fell
Bank deposits 16.95m NOK → 1.11m NOK (-93.4% YoY). Calculated
Things to notice
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Sharp cash drawdown
Cash fell by more than 60% YoY (16.95m NOK → 1.11m 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 314.64m NOK → 511.4k NOK — check capital reduction, conversion, or reclassification. Interpretation
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COGS fell
COGS / varekostnad 405.21m NOK → 559.7k NOK (-99.9% YoY). Calculated
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Book investments changed
Investment / intangible book value 257.33m NOK → 485.9k NOK. Reported fact