Managing director and chair changed in a year of NOK 33.4m operating loss

ARCHER WELLCONNECTION AS, a limited company based in Sandnes, Norway, reported a net profit of NOK 27.9m for FY2025, against a net loss of NOK 13.5m a year earlier. The profit did not come from trading. Revenue fell 38.6% to NOK 159m, and the company swung from an operating profit of NOK 48.5m to an operating loss of NOK 33.4m. The operating margin moved to -21.1% from 18.8%.

A loss at the operating line combined with a profit at the bottom means the gain sits below it: financial income, a debt write-off or another one-off item. The accounts do not say which. The balance sheet followed the result. Equity rose to NOK 24.8m from a deficit of NOK 3.2m, lifting the equity ratio to 27.1%. Cash stayed at NOK 4.0k, unchanged from the year before. The company also changed both its managing director and the chair of its board. I would not treat this profit as the new base: the business sold less and lost money on operations, and the sign changed somewhere else.