3D INVEST AS: årsregnskap 2011 vs 2010
Shrank 47% on revenue, stronger earnings
Summary
What changed
Comparing Årsregnskap 2011 with 2010 for 3D INVEST AS. Revenue 2.25m NOK → 1.19m NOK (-47.1%). Net result +72.1k NOK → +463.5k NOK. Equity 1.59m NOK → 52.6k NOK.
On the constructive side: net result improved; current ratio back above 1×; payroll decreased. Pressures included: revenue fell; operating result weakened; equity eroded.
Also worth watching: thin equity buffer; cogs fell; book investments changed. All figures are taken from the published annual accounts for 3D INVEST AS.
At a glance
Scorecard
What improved
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Net result improved
Net result +72.1k NOK → +463.5k NOK (net margin 3.2% → 38.9%). Calculated
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Current ratio back above 1×
Current ratio 1.00× → 1.15×. Calculated
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Payroll decreased
Salary cost 682.6k NOK → 673.9k NOK (30% → 57% of revenue). Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 2.25m NOK to 1.19m NOK (-47.1% YoY). Calculated
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Operating result weakened
Operating result +82.1k NOK → -16.0k NOK (op. margin 3.6% → -1.3%). Calculated
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Equity eroded
Book equity 1.59m NOK → 52.6k NOK (equity ratio 34.0% → 1.0%). 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 fell
COGS / varekostnad 1.40m NOK → 413.2k NOK (-70.5% YoY). Calculated
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Book investments changed
Investment / intangible book value 1.32m NOK → 3 NOK. Reported fact