4 SEAS AS: årsregnskap 2013 vs 2012
Grew 510% on revenue, weaker earnings, fresh owner capital
approved 2014-06-11; registry 2014-08-30; journal 2014 737032
Summary
What changed
Comparing Årsregnskap 2013 with 2012 for 4 SEAS AS. Revenue 71.8k NOK → 437.6k NOK (+509.7%). Net result +342.4k NOK → +19.7k NOK. Equity 7.66m NOK → 677.2k NOK.
On the constructive side: revenue rose; operating result improved; owners injected capital. Pressures included: net result weakened; equity eroded; cash fell.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for 4 SEAS AS.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 71.8k NOK to 437.6k NOK (+509.7% YoY). Calculated
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Operating result improved
Operating result -177.8k NOK → +299.5k NOK (op. margin -247.7% → 68.4%). Calculated
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Owners injected capital
Paid-in equity rose 1 NOK → 1.00m NOK (+1000.0k NOK). Reported fact
What deteriorated
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↓
Net result weakened
Net result +342.4k NOK → +19.7k NOK (net margin 477.1% → 4.5%). Calculated
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↓
Equity eroded
Book equity 7.66m NOK → 677.2k NOK (equity ratio 83.3% → 7.4%). Calculated
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↓
Cash fell
Bank deposits 211.0k NOK → 148.3k NOK (-29.7% YoY). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 7.4% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation