ADEA AS: årsregnskap 2011 vs 2010
Grew 30% on revenue
approved 2012-05-08; registry 2012-05-19; journal 2012 378535
Summary
What changed
Comparing Årsregnskap 2011 with 2010 for ADEA AS. Revenue 3.24m NOK → 4.21m NOK (+29.8%). Equity 543.7k NOK → 114.4k NOK.
On the constructive side: revenue rose. Pressures included: operating result weakened; equity eroded; current ratio dropped below 1×.
Also worth watching: paid-in equity reduced; payroll increased; cogs fell. All figures are taken from the published annual accounts for ADEA AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 3.24m NOK to 4.21m NOK (+29.8% YoY). Calculated
What deteriorated
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↓
Operating result weakened
Operating result +214.5k NOK → -457.3k NOK (op. margin 6.6% → -10.9%). Calculated
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↓
Equity eroded
Book equity 543.7k NOK → 114.4k NOK (equity ratio 103.8% → 10.8%). Calculated
-
↓
Current ratio dropped below 1×
Current ratio 1.27× → 0.79× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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·
Paid-in equity reduced
Paid-in equity fell 190.0k NOK → 100.0k NOK — check capital reduction, conversion, or reclassification. Interpretation
-
·
Payroll increased
Salary cost 1.88m NOK → 3.14m NOK (58% → 75% of revenue). Calculated
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·
COGS fell
COGS / varekostnad 382.1k NOK → 138.8k NOK (-63.7% YoY). Calculated
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·
Book investments changed
Investment / intangible book value 271.6k NOK → 17.0k NOK. Reported fact