123 INVEST AS: årsregnskap 2011 vs 2010
Weaker earnings
approved 2012-06-29; registry 2012-09-25; journal 2012 790075
Summary
What changed
Comparing Årsregnskap 2011 with 2010 for 123 INVEST AS. Revenue 3.45m NOK → 3.44m NOK (-0.2%). Net result +501.9k NOK → +30.8k NOK. Equity -485.7k NOK → -455.0k NOK.
On the constructive side: equity strengthened; cash rose; payroll decreased. Pressures included: revenue fell; net result weakened; current ratio dropped below 1×.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for 123 INVEST AS.
At a glance
Scorecard
What improved
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↑
Equity strengthened
Book equity -485.7k NOK → -455.0k NOK (equity ratio -54.9% → -64.0%). Calculated
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↑
Cash rose
Bank deposits 108.4k NOK → 186.6k NOK (+72.1% YoY). Calculated
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↑
Payroll decreased
Salary cost 2.46m NOK → 1.99m NOK (71% → 58% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 3.45m NOK to 3.44m NOK (-0.2% YoY). Calculated
-
↓
Net result weakened
Net result +501.9k NOK → +30.8k NOK (net margin 14.5% → 0.9%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 14.86× → 0.64× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
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↓
COGS moved
COGS / varekostnad 75.0k NOK → 169.2k NOK (+125.7% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -64.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation