123 INVEST AS: årsregnskap 2010 vs 2009
Grew 7% on revenue, stronger earnings, cash halved-plus
approved 2011-06-30; registry 2011-09-24; journal 2011 771354
Summary
What changed
Comparing Årsregnskap 2010 with 2009 for 123 INVEST AS. Revenue 3.21m NOK → 3.45m NOK (+7.5%). Net result +180.5k NOK → +501.9k NOK. Equity 16.1k NOK → -485.7k NOK.
On the constructive side: revenue rose; net result improved. Pressures included: equity eroded; cash fell.
Also worth watching: thin equity buffer; payroll increased; cogs fell. All figures are taken from the published annual accounts for 123 INVEST AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 3.21m NOK to 3.45m NOK (+7.5% YoY). Calculated
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↑
Net result improved
Net result +180.5k NOK → +501.9k NOK (net margin 5.6% → 14.5%). Calculated
What deteriorated
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↓
Equity eroded
Book equity 16.1k NOK → -485.7k NOK (equity ratio 22.4% → -54.9%). Calculated
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↓
Cash fell
Bank deposits 444.4k NOK → 108.4k NOK (-75.6% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -54.9% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Payroll increased
Salary cost 2.13m NOK → 2.46m NOK (66% → 71% of revenue). Calculated
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·
COGS fell
COGS / varekostnad 439.0k NOK → 75.0k NOK (-82.9% YoY). Calculated