24SEVENOFFICE NORWAY AS: årsregnskap 2012 vs 2011
Grew 13% on revenue, cash halved-plus, fresh owner capital
approved 2013-06-30; registry 2013-09-04; journal 2013 739339
Summary
What changed
Comparing Årsregnskap 2012 with 2011 for 24SEVENOFFICE NORWAY AS. Revenue 26.21m NOK → 29.70m NOK (+13.3%). Equity -27.89m NOK → -44.77m NOK.
On the constructive side: revenue rose; owners injected capital; payroll decreased. Pressures included: equity eroded; cash fell; current ratio dropped below 1×.
Also worth watching: thin equity buffer; sharp cash drawdown; cogs moved. All figures are taken from the published annual accounts for 24SEVENOFFICE NORWAY AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 26.21m NOK to 29.70m NOK (+13.3% YoY). Calculated
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Owners injected capital
Paid-in equity rose 1.20m NOK → 3.35m NOK (+2.15m NOK). Reported fact
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↑
Payroll decreased
Salary cost 19.20m NOK → 16.35m NOK (73% → 55% of revenue). Calculated
What deteriorated
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↓
Equity eroded
Book equity -27.89m NOK → -44.77m NOK (equity ratio -55.1% → -130.7%). Calculated
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↓
Cash fell
Bank deposits 13.11m NOK → 2.29m NOK (-82.6% YoY). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.36× → 0.58× — 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 -130.7% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Sharp cash drawdown
Cash fell by more than 60% YoY (13.11m NOK → 2.29m NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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COGS moved
COGS / varekostnad 6.70m NOK → 9.07m NOK (+35.4% YoY). Calculated
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Book investments changed
Investment / intangible book value 15.35m NOK → 9.88m NOK. Reported fact