ADWANS AS: årsregnskap 2011 vs 2010
Grew 40% on revenue
approved 2012-06-27; registry 2012-09-27; journal 2012 791783
Summary
What changed
Comparing Årsregnskap 2011 with 2010 for ADWANS AS. Revenue 249.5k NOK → 348.6k NOK (+39.7%). Equity 96.8k NOK → -137.2k NOK.
On the constructive side: revenue rose; cash rose. Pressures included: operating result weakened; equity eroded; current ratio dropped below 1×.
Also worth watching: thin equity buffer; payroll increased; cogs moved. All figures are taken from the published annual accounts for ADWANS AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 249.5k NOK to 348.6k NOK (+39.7% YoY). Calculated
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↑
Cash rose
Bank deposits 126.9k NOK → 186.2k NOK (+46.8% YoY). Calculated
What deteriorated
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↓
Operating result weakened
Operating result +78.3k NOK → -233.5k NOK (op. margin 31.4% → -67.0%). Calculated
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↓
Equity eroded
Book equity 96.8k NOK → -137.2k NOK (equity ratio 39.1% → -66.2%). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.64× → 0.60× — 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 -66.2% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
-
·
Payroll increased
Salary cost 110.6k NOK → 424.4k NOK (44% → 122% of revenue). Calculated
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·
COGS moved
COGS / varekostnad 0 NOK → 73.9k NOK (None YoY). Calculated