10XNORTH AS: årsregnskap 2018 vs 2017
Grew 5% on revenue, weaker earnings, cash halved-plus
approved 2019-01-29; registry 2019-03-14; journal 2019 236378
Summary
What changed
Comparing Årsregnskap 2018 with 2017 for 10XNORTH AS. Revenue 3.51m NOK → 3.70m NOK (+5.2%). Net result +185.8k NOK → +14.4k NOK. Equity 285.9k NOK → 171.5k NOK.
On the constructive side: revenue rose; payroll decreased. Pressures included: operating result weakened; net result weakened; equity eroded.
Also worth watching: sharp cash drawdown; cogs fell. All figures are taken from the published annual accounts for 10XNORTH AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 3.51m NOK to 3.70m NOK (+5.2% YoY). Calculated
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Payroll decreased
Salary cost 627.7k NOK → 396.2k NOK (18% → 11% of revenue). Calculated
What deteriorated
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↓
Operating result weakened
Operating result +240.1k NOK → +11.2k NOK (op. margin 6.8% → 0.3%). Calculated
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↓
Net result weakened
Net result +185.8k NOK → +14.4k NOK (net margin 5.3% → 0.4%). Calculated
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↓
Equity eroded
Book equity 285.9k NOK → 171.5k NOK (equity ratio 11.1% → 12.7%). Calculated
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Cash fell
Bank deposits 1.35m NOK → 377.3k NOK (-72.0% YoY). Calculated
Things to notice
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·
Sharp cash drawdown
Cash fell by more than 60% YoY (1.35m NOK → 377.3k NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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·
COGS fell
COGS / varekostnad 2.16m NOK → 1.78m NOK (-17.3% YoY). Calculated