AIRFLOW FILTER AS: årsregnskap 2011 vs 2010
Shrank 22% on revenue, slipped into loss
approved 2012-08-20; registry 2012-08-28; journal 2012 662025
Summary
What changed
Comparing Årsregnskap 2011 with 2010 for AIRFLOW FILTER AS. Revenue 5.40m NOK → 4.24m NOK (-21.6%). Net result +26.0k NOK → -67.4k NOK. Equity -95.3k NOK → -162.8k NOK.
On the constructive side: cash rose; current ratio back above 1×. Pressures included: revenue fell; operating result weakened; fell into a net loss.
Also worth watching: thin equity buffer; cogs fell. All figures are taken from the published annual accounts for AIRFLOW FILTER AS.
At a glance
Scorecard
What improved
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↑
Cash rose
Bank deposits 14.9k NOK → 47.3k NOK (+217.2% YoY). Calculated
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↑
Current ratio back above 1×
Current ratio 0.86× → 7.58×. Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 5.40m NOK to 4.24m NOK (-21.6% YoY). Calculated
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↓
Operating result weakened
Operating result +45.6k NOK → -10.0k NOK (op. margin 0.8% → -0.2%). Calculated
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↓
Fell into a net loss
Net result flipped from 26.0k NOK profit to a loss of 67.4k NOK. Calculated
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↓
Equity eroded
Book equity -95.3k NOK → -162.8k NOK (equity ratio -10.2% → -16.7%). Calculated
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↓
Payroll up without matching revenue
Salary cost 5.03m NOK → 5.63m NOK (93% → 133% of revenue). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -16.7% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
COGS fell
COGS / varekostnad 3.62m NOK → 3.04m NOK (-16.1% YoY). Calculated