STIFTELSEN ADMINISTRATIVT FORSKNINGSFOND VED NORGES HANDELSHØYSKOLE

5045 BERGEN

Finances

Share Ownership

Return on Equity

8,6 %

Current Ratio

1,85

Debt-to-Equity Ratio

Key figures (NOK)	2022	2021	2020	2019
Revenue	118 978 000	97 396 000	82 904 000	87 026 000
Net Income	4 410 000	6 371 000	600 000	2 994 000
Total Assets	104 532 000	99 230 000	84 525 000	77 462 000
Total Equity	51 257 000	46 847 000	40 477 000	39 877 000

Income (NOK)	2022	2021	2020	2019
Revenue	118 978 000	97 396 000	82 904 000	87 026 000
Expenditure	108 892 000	92 201 000	83 048 000	85 657 000
Operating Profit	10 086 000	5 194 000	−143 000	1 368 000
Financial Income	275 000	239 000	196 000	71 000
Financial Costs	3 675 000	−2 141 000	−569 000	−2 084 000
Financial Balance	−3 400 000	2 380 000	765 000	2 155 000
Earnings Before Tax	6 686 000	7 574 000	622 000	3 524 000
Tax	2 276 000	1 204 000	22 000	529 000
Net Income	4 410 000	6 371 000	600 000	2 994 000

Balance (NOK)	2022	2021	2020	2019
Total Fixed Assets	4 226 000	5 303 000	7 790 000	9 680 000
Total Current Assets	100 306 000	93 927 000	76 736 000	67 782 000
Total Assets	104 532 000	99 230 000	84 525 000	77 462 000
Total Retained Equity	49 557 000	45 147 000	38 777 000	38 177 000
Total Equity	51 257 000	46 847 000	40 477 000	39 877 000
Total Long-Term Debt	0	0	0	0
Total Current Debt	54 125 000	53 233 000	44 899 000	38 435 000
Total Equity and Debt	104 532 000	99 230 000	84 525 000	77 462 000

Cash flow (NOK)	2022	2021	2020	2019
Sales Income	118 978 000	97 396 000	82 904 000	87 026 000
Other Income	0	0	0	0
Revenue	118 978 000	97 396 000	82 904 000	87 026 000
Cost of Goods Sold	6 981 000	3 306 000	4 527 000	5 783 000
Salary Costs	89 772 000	79 208 000	68 586 000	68 798 000
Depreciation	1 748 000	2 089 000	2 412 000	2 506 000
Impairment	0	400 000	0	0
Expenditure	108 892 000	92 201 000	83 048 000	85 657 000
Operating Profit	10 086 000	5 194 000	−143 000	1 368 000
Financial Income	275 000	239 000	196 000	71 000
Financial Costs	3 675 000	−2 141 000	−569 000	−2 084 000
Financial Balance	−3 400 000	2 380 000	765 000	2 155 000
Dividends	0	0	0	0
Net Income	4 410 000	6 371 000	600 000	2 994 000

Balance details (NOK)	2022	2021	2020	2019
Goodwill	1 445 000	1 945 000	2 445 000	2 945 000
Total Intangible Assets	1 692 000	2 616 000	4 272 000	4 747 000
Real Eastate	0	0	0	0
Machinery and Plant Facilities	0	0	0	0
Fixtures	2 534 000	2 687 000	3 518 000	4 934 000
Total Tangible Assets	2 534 000	2 687 000	3 518 000	4 934 000
Total Fiancial Fixed Assets	0	0	0	0
Total Fixed Assets	4 226 000	5 303 000	7 790 000	9 680 000
Stock	0	0	0	0
Total Investments	31 119 000	34 489 000	22 119 000	20 046 000
Cash, Bank	42 835 000	33 649 000	26 207 000	14 088 000
Total Current Assets	100 306 000	93 927 000	76 736 000	67 782 000
Total Assets	104 532 000	99 230 000	84 525 000	77 462 000
Total Equity	51 257 000	46 847 000	40 477 000	39 877 000
Short-Term Group Debt	0	0	0	0
Total Long-Term Debt	0	0	0	0
Creditors	4 676 000	3 797 000	4 435 000	3 407 000
Unpaid Taxes	9 806 000	9 177 000	7 825 000	8 275 000
Dividends	0	0	0	0
Other Current Debt	38 042 000	40 259 000	32 639 000	26 753 000
Total Current Debt	54 125 000	53 233 000	44 899 000	38 435 000
Total Equity and Debt	104 532 000	99 230 000	84 525 000	77 462 000

Financial indicators	2022	2021	2020	2019
Return on Equity	8,6 %	13,6 %	1,48 %	7,51 %
Debt-to-Equity Ratio	0	0	0	0
Operating Profit Margin	8,48 %	5,33 %	−0,17 %	1,57 %
Current Ratio	1,85	1,76	1,71	1,76
Quick Ratio	1,85	1,76	1,71	1,76
Equity Ratio	0,49	0,47	0,48	0,51
Gross Profit Margin	94,13 %	96,61 %	94,54 %	93,35 %