TGS ASA: årsregnskap 2024 vs 2023
Shrank 100% on revenue, returned to profit, cash halved-plus
approved 2025-03-21; registry 2025-08-12; journal 2025 699180
Summary
What changed
Comparing Årsregnskap 2024 with 2023 for TGS ASA. Revenue 160.59m NOK → 192.6k NOK (-99.9%). Net result -2.70m NOK → +27.89m NOK. Equity 207.1k NOK → 942.4k NOK.
On the constructive side: operating result improved; turned profitable; equity strengthened. Pressures included: revenue fell; cash fell; current ratio dropped below 1×.
Also worth watching: sharp cash drawdown; cogs fell; book investments changed. All figures are taken from the published annual accounts for TGS ASA.
At a glance
Scorecard
What improved
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Operating result improved
Operating result +35.56m NOK → +55.08m NOK (op. margin 22.1% → 28601.2%). Calculated
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Turned profitable
Net result flipped from a loss of 2.70m NOK to a profit of 27.89m NOK. Calculated
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Equity strengthened
Book equity 207.1k NOK → 942.4k NOK (equity ratio 0.0% → 0.0%). Calculated
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Owners injected capital
Paid-in equity rose 174.8k NOK → 877.9k NOK (+703.1k NOK). Reported fact
What deteriorated
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Revenue fell
Operating income / revenue moved from 160.59m NOK to 192.6k NOK (-99.9% YoY). Calculated
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Cash fell
Bank deposits 10.60m NOK → 1.42m NOK (-86.6% YoY). Calculated
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↓
Current ratio dropped below 1×
Current ratio 527.68× → 0.68× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
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Payroll up without matching revenue
Salary cost 7.92m NOK → 9.87m NOK (5% → 5126% of revenue). Calculated
Things to notice
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Sharp cash drawdown
Cash fell by more than 60% YoY (10.60m NOK → 1.42m NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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COGS fell
COGS / varekostnad 2.32m NOK → 93.0k NOK (-96.0% YoY). Calculated
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Book investments changed
Investment / intangible book value 393.7k NOK → 1.52m NOK. Reported fact