ADELSMANN AS: årsregnskap 2011 vs 2010
Another loss-making year
approved 2012-06-28; registry 2012-07-05; journal 2012 500886
Summary
What changed
Comparing Årsregnskap 2011 with 2010 for ADELSMANN AS. Revenue 3.46m NOK → 3.57m NOK (+3.2%). Equity 860.7k NOK → 947.1k NOK.
On the constructive side: revenue rose; operating result improved; equity strengthened. Pressures included: current ratio dropped below 1×.
Also worth watching: payroll increased; cogs fell; book investments changed. All figures are taken from the published annual accounts for ADELSMANN AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 3.46m NOK to 3.57m NOK (+3.2% YoY). Calculated
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↑
Operating result improved
Operating result +96.9k NOK → +261.8k NOK (op. margin 2.8% → 7.3%). Calculated
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↑
Equity strengthened
Book equity 860.7k NOK → 947.1k NOK (equity ratio 52.2% → 52.4%). Calculated
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↑
Cash rose
Bank deposits 320.3k NOK → 523.4k NOK (+63.4% YoY). Calculated
What deteriorated
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↓
Current ratio dropped below 1×
Current ratio 1.77× → 0.61× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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·
Payroll increased
Salary cost 1.01m NOK → 1.08m NOK (29% → 30% of revenue). Calculated
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·
COGS fell
COGS / varekostnad 1.61m NOK → 1.48m NOK (-8.1% YoY). Calculated
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·
Book investments changed
Investment / intangible book value 204.3k NOK → 151.7k NOK. Reported fact