ADVOKATFIRMAET HORNELAND AS: årsregnskap 2013 vs 2012
Shrank 52% on revenue, cash halved-plus
approved 2014-05-19; registry 2014-05-28; journal 2014 427002
Summary
What changed
Comparing Årsregnskap 2013 with 2012 for ADVOKATFIRMAET HORNELAND AS. Revenue 588.5k NOK → 281.7k NOK (-52.1%). Equity 54.9k NOK → -120.1k NOK.
Pressures included: revenue fell; equity eroded; cash fell.
Also worth watching: thin equity buffer; book investments changed. All figures are taken from the published annual accounts for ADVOKATFIRMAET HORNELAND AS.
At a glance
Scorecard
What deteriorated
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Revenue fell
Operating income / revenue moved from 588.5k NOK to 281.7k NOK (-52.1% YoY). Calculated
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↓
Equity eroded
Book equity 54.9k NOK → -120.1k NOK (equity ratio 11.0% → -63.2%). Calculated
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↓
Cash fell
Bank deposits 251.3k NOK → 60.3k NOK (-76.0% YoY). Calculated
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Current ratio dropped below 1×
Current ratio 1.10× → 0.58× — 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 -63.2% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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Book investments changed
Investment / intangible book value 8 600 NOK → 10.0k NOK. Reported fact