ACTIVE MANAGEMENT AS: årsregnskap 2010 vs 2009
Grew 18% on revenue, stronger earnings, cash halved-plus
approved 2011-06-24; registry 2011-09-02; journal 2011 679419
Summary
What changed
Comparing Årsregnskap 2010 with 2009 for ACTIVE MANAGEMENT AS. Revenue 1.66m NOK → 1.96m NOK (+18.2%). Net result +42.3k NOK → +197.7k NOK. Equity 3.95m NOK → 3 NOK.
On the constructive side: revenue rose; operating result improved; net result improved. Pressures included: equity eroded; cash fell.
Also worth watching: thin equity buffer; payroll increased; book investments changed. All figures are taken from the published annual accounts for ACTIVE MANAGEMENT AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 1.66m NOK to 1.96m NOK (+18.2% YoY). Calculated
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↑
Operating result improved
Operating result +101.3k NOK → +207.5k NOK (op. margin 6.1% → 10.6%). Calculated
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↑
Net result improved
Net result +42.3k NOK → +197.7k NOK (net margin 2.6% → 10.1%). Calculated
What deteriorated
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↓
Equity eroded
Book equity 3.95m NOK → 3 NOK (equity ratio 216.2% → 0.0%). Calculated
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↓
Cash fell
Bank deposits 639.8k NOK → 248.0k NOK (-61.2% YoY). 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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·
Payroll increased
Salary cost 4.20m NOK → 4.40m NOK (253% → 225% of revenue). Calculated
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·
Book investments changed
Investment / intangible book value 27.0k NOK → 8.17m NOK. Reported fact