2K TECH AS: årsregnskap 2011 vs 2010
Shrank 90% on revenue, stronger earnings
approved 2012-08-07; registry 2012-08-09; journal 2012 595595
Summary
What changed
Comparing Årsregnskap 2011 with 2010 for 2K TECH AS. Revenue 725.5k NOK → 69.1k NOK (-90.5%). Net result -167.2k NOK → -103.8k NOK. Equity 90.3k NOK → -13.4k NOK.
On the constructive side: operating result improved; net result improved; payroll decreased. Pressures included: revenue fell; equity eroded.
Also worth watching: thin equity buffer; book investments changed. All figures are taken from the published annual accounts for 2K TECH AS.
At a glance
Scorecard
What improved
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↑
Operating result improved
Operating result -159.9k NOK → -29.8k NOK (op. margin -22.0% → -43.1%). Calculated
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↑
Net result improved
Net result -167.2k NOK → -103.8k NOK (net margin -23.0% → -150.1%). Calculated
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↑
Payroll decreased
Salary cost 211.9k NOK → 3 211 NOK (29% → 5% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 725.5k NOK to 69.1k NOK (-90.5% YoY). Calculated
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↓
Equity eroded
Book equity 90.3k NOK → -13.4k NOK (equity ratio 37.4% → -16.8%). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -16.8% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Book investments changed
Investment / intangible book value 199.1k NOK → 90.1k NOK. Reported fact