10X CAPITAL AS: årsregnskap 2017 vs 2016
Shrank 97% on revenue, cash halved-plus
approved 2018-06-30; registry 2018-07-25; journal 2018 785273
Summary
What changed
Comparing Årsregnskap 2017 with 2016 for 10X CAPITAL AS. Revenue 697.1k NOK → 21.5k NOK (-96.9%). Net result -58.2k NOK → -58.7k NOK. Equity 6 968 NOK → -51.8k NOK.
Pressures included: revenue fell; operating result weakened; equity eroded.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for 10X CAPITAL AS.
At a glance
Scorecard
What deteriorated
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Revenue fell
Operating income / revenue moved from 697.1k NOK to 21.5k NOK (-96.9% YoY). Calculated
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Operating result weakened
Operating result -58.2k NOK → -58.3k NOK (op. margin -8.4% → -271.8%). Calculated
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Equity eroded
Book equity 6 968 NOK → -51.8k NOK (equity ratio 6.4% → -806.0%). Calculated
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Cash fell
Bank deposits 81.4k NOK → 6 423 NOK (-92.1% YoY). Calculated
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Current ratio dropped below 1×
Current ratio 1.07× → 0.11× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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Thin equity buffer
Equity ratio is -806.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation