Is a profit of NOK 927k enough to explain cash up 964.1%?

GRIP SLUPPEN AS, an aksjeselskap based in Trondheim, turned a net loss of NOK 913k in FY2024 into a net profit of NOK 927k in FY2025. Revenue rose only 3.6% to NOK 18.3m, so sales did little of the work. The operating result moved from a loss of NOK 510k to a profit of NOK 1.3m, which lifted the operating margin to 7.1% from -2.9%. Cash grew to NOK 5.3m from NOK 494k. Equity ended the year at NOK 6.4m, and the equity ratio slipped to 22.0%.

A return to profit on flat sales usually means lower costs, better prices or a one-off item. The accounts do not show which one applies here, and one good year does not show that the gain repeats. Total assets grew to NOK 29.1m from NOK 24.3m, so the larger cash balance may be funded by something other than earnings, and equity rose by only NOK 395k. I would watch the cash line next year. A company that changes its chief executive and board in the same period has given the numbers a fair amount to prove.