AKADEMIET INTERNATIONAL SCHOOL DRAMMEN AS: årsregnskap 2013 vs 2012
Shrank 48% on revenue, stronger earnings
approved 2014-05-15; registry 2014-06-28; journal 2014 520985
Summary
What changed
Comparing Årsregnskap 2013 with 2012 for AKADEMIET INTERNATIONAL SCHOOL DRAMMEN AS. Revenue 1.48m NOK → 774.3k NOK (-47.7%). Net result -235.7k NOK → -138.9k NOK. Equity 77.3k NOK → -27.2k NOK.
On the constructive side: operating result improved; net result improved; cash rose. Pressures included: revenue fell; equity eroded; payroll up without matching revenue.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for AKADEMIET INTERNATIONAL SCHOOL DRAMMEN AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result -328.3k NOK → -189.8k NOK (op. margin -22.2% → -24.5%). Calculated
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Net result improved
Net result -235.7k NOK → -138.9k NOK (net margin -15.9% → -17.9%). Calculated
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Cash rose
Bank deposits 178.2k NOK → 361.1k NOK (+102.7% YoY). Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 1.48m NOK to 774.3k NOK (-47.7% YoY). Calculated
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Equity eroded
Book equity 77.3k NOK → -27.2k NOK (equity ratio 5.1% → -4.2%). Calculated
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Payroll up without matching revenue
Salary cost 1.27m NOK → 2.53m NOK (86% → 327% of revenue). Calculated
Things to notice
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Thin equity buffer
Equity ratio is -4.2% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation