ACCESS ADVENTURES AS: årsregnskap 2011 vs 2010
Shrank 77% on revenue, returned to profit
Summary
What changed
Comparing Årsregnskap 2011 with 2010 for ACCESS ADVENTURES AS. Revenue 2.56m NOK → 586.2k NOK (-77.1%). Net result -353.6k NOK → +1.21m NOK. Equity 3.17m NOK → 262.8k NOK.
On the constructive side: turned profitable; payroll decreased. Pressures included: revenue fell; operating result weakened; equity eroded.
Also worth watching: thin equity buffer; book investments changed. All figures are taken from the published annual accounts for ACCESS ADVENTURES AS.
At a glance
Scorecard
What improved
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Turned profitable
Net result flipped from a loss of 353.6k NOK to a profit of 1.21m NOK. Calculated
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Payroll decreased
Salary cost 5.65m NOK → 5 NOK (221% → 0% of revenue). Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 2.56m NOK to 586.2k NOK (-77.1% YoY). Calculated
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Operating result weakened
Operating result +257.6k NOK → +66.1k NOK (op. margin 10.1% → 11.3%). Calculated
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Equity eroded
Book equity 3.17m NOK → 262.8k NOK (equity ratio 53.8% → 8.6%). Calculated
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Cash fell
Bank deposits 496.9k NOK → 417.6k NOK (-16.0% YoY). Calculated
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COGS moved
COGS / varekostnad 50 NOK → 42.2k NOK (+84388.0% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is 8.6% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Book investments changed
Investment / intangible book value 2.13m NOK → 154.0k NOK. Reported fact