10XNORTH AS: årsregnskap 2022 vs 2021
Grew 11% on revenue, weaker earnings, cash halved-plus
approved 2023-07-20; registry 2023-07-24; journal 2023 638043
Summary
What changed
Comparing Årsregnskap 2022 with 2021 for 10XNORTH AS. Revenue 4.86m NOK → 5.37m NOK (+10.7%). Net result +321.4k NOK → +184.8k NOK. Equity 836.0k NOK → 20.8k NOK.
On the constructive side: revenue rose; payroll decreased. Pressures included: operating result weakened; net result weakened; equity eroded.
Also worth watching: thin equity buffer; cogs moved; book investments changed. 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 4.86m NOK to 5.37m NOK (+10.7% YoY). Calculated
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Payroll decreased
Salary cost 1319.24bn NOK → 2 NOK (27162104% → 0% of revenue). Calculated
What deteriorated
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↓
Operating result weakened
Operating result +445.9k NOK → +267.7k NOK (op. margin 9.2% → 5.0%). Calculated
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↓
Net result weakened
Net result +321.4k NOK → +184.8k NOK (net margin 6.6% → 3.4%). Calculated
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↓
Equity eroded
Book equity 836.0k NOK → 20.8k NOK (equity ratio 45.0% → 1.0%). Calculated
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↓
Cash fell
Bank deposits 72.3k NOK → 29.1k NOK (-59.7% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 1.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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COGS moved
COGS / varekostnad 2.29m NOK → 2.42m NOK (+5.5% YoY). Calculated
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·
Book investments changed
Investment / intangible book value 1 000 NOK → 0 NOK. Reported fact