ADVOKATFIRMAET HOLST STIFJELL AS: årsregnskap 2013 vs 2012
Shrank 50% on revenue, stronger earnings, cash halved-plus
approved 2014-04-29; registry 2014-05-15; journal 2014 398754
Summary
What changed
Comparing Årsregnskap 2013 with 2012 for ADVOKATFIRMAET HOLST STIFJELL AS. Revenue 2.00m NOK → 995.8k NOK (-50.1%). Net result -327.9k NOK → -47.4k NOK. Equity -365.8k NOK → -413.2k NOK.
On the constructive side: operating result improved; net result improved; payroll decreased. Pressures included: revenue fell; equity eroded; cash fell.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for ADVOKATFIRMAET HOLST STIFJELL AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result -313.2k NOK → -35.5k NOK (op. margin -15.7% → -3.6%). Calculated
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Net result improved
Net result -327.9k NOK → -47.4k NOK (net margin -16.4% → -4.8%). Calculated
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Payroll decreased
Salary cost 919.0k NOK → 653.7k NOK (46% → 66% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 2.00m NOK to 995.8k NOK (-50.1% YoY). Calculated
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↓
Equity eroded
Book equity -365.8k NOK → -413.2k NOK (equity ratio -180.8% → -355.0%). Calculated
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Cash fell
Bank deposits 69.6k NOK → 19.8k NOK (-71.6% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is -355.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation