ADCAPA AS: årsregnskap 2012 vs 2011
Grew 87548% on revenue, weaker earnings, cash halved-plus
approved 2013-05-28; registry 2013-09-04; journal 2013 745392
Summary
What changed
Comparing Årsregnskap 2012 with 2011 for ADCAPA AS. Revenue 1 317 NOK → 1.15m NOK (+87547.6%). Net result -25.3k NOK → -78.6k NOK. Equity 141.7k NOK → 63.1k NOK.
On the constructive side: revenue rose; payroll decreased. Pressures included: operating result weakened; net result weakened; equity eroded.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for ADCAPA AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 1 317 NOK to 1.15m NOK (+87547.6% YoY). Calculated
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↑
Payroll decreased
Salary cost 1.22m NOK → 1.11m NOK (92465% → 96% of revenue). Calculated
What deteriorated
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↓
Operating result weakened
Operating result +231.9k NOK → -101.5k NOK (op. margin 17611.3% → -8.8%). Calculated
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↓
Net result weakened
Net result -25.3k NOK → -78.6k NOK (net margin -1924.4% → -6.8%). Calculated
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↓
Equity eroded
Book equity 141.7k NOK → 63.1k NOK (equity ratio 37.8% → 8.2%). Calculated
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↓
Cash fell
Bank deposits 197.4k NOK → 78.1k NOK (-60.4% YoY). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.45× → 0.68× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 8.2% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation