4HUMAN TQM AS: årsregnskap 2009 vs 2008
Grew 10% on revenue
approved 2010-01-27; registry 2010-02-17
Summary
What changed
Comparing Årsregnskap 2009 with 2008 for 4HUMAN TQM AS. Revenue 5.22m NOK → 5.76m NOK (+10.3%). Equity 483.3k NOK → 1 179 NOK.
On the constructive side: revenue rose; operating result improved; payroll decreased. Pressures included: equity eroded.
Also worth watching: thin equity buffer; cogs moved. All figures are taken from the published annual accounts for 4HUMAN TQM AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 5.22m NOK to 5.76m NOK (+10.3% YoY). Calculated
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↑
Operating result improved
Operating result +644.4k NOK → +824.5k NOK (op. margin 12.3% → 14.3%). Calculated
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↑
Payroll decreased
Salary cost 2.69m NOK → 2.65m NOK (52% → 46% of revenue). Calculated
What deteriorated
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↓
Equity eroded
Book equity 483.3k NOK → 1 179 NOK (equity ratio 11.0% → 0.0%). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 0.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
COGS moved
COGS / varekostnad 169.5k NOK → 271.5k NOK (+60.2% YoY). Calculated