Bonheur ASA: årsregnskap 2011 vs 2010
Shrank 92% on revenue, weaker earnings, cash halved-plus
approved 2012-05-30; registry 2012-07-12; journal 2012 527588
Summary
What changed
Comparing Årsregnskap 2011 with 2010 for Bonheur ASA. Revenue 8.83m NOK → 663.0k NOK (-92.5%). Net result +290.75m NOK → +332.9k NOK. Equity 3.69bn NOK → 3.81bn NOK.
On the constructive side: operating result improved; equity strengthened; payroll decreased. Pressures included: revenue fell; net result weakened; cash fell.
Also worth watching: sharp cash drawdown; cogs fell; book investments changed. All figures are taken from the published annual accounts for Bonheur ASA.
At a glance
Scorecard
What improved
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↑
Operating result improved
Operating result +2.17bn NOK → +2.22bn NOK (op. margin 24607.2% → 334106.0%). Calculated
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↑
Equity strengthened
Book equity 3.69bn NOK → 3.81bn NOK (equity ratio 64.2% → 63.9%). Calculated
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↑
Payroll decreased
Salary cost 25.38m NOK → 890.6k NOK (287% → 134% of revenue). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 8.83m NOK to 663.0k NOK (-92.5% YoY). Calculated
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↓
Net result weakened
Net result +290.75m NOK → +332.9k NOK (net margin 3292.4% → 50.2%). Calculated
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↓
Cash fell
Bank deposits 164.65m NOK → 61.48m NOK (-62.7% YoY). Calculated
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↓
Current ratio dropped below 1×
Current ratio 728.25× → 0.42× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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·
Sharp cash drawdown
Cash fell by more than 60% YoY (164.65m NOK → 61.48m NOK). Check whether funds moved to group receivables, investments, or operating burn. Interpretation
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·
COGS fell
COGS / varekostnad 23.0k NOK → 0 NOK (-100.0% YoY). Calculated
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·
Book investments changed
Investment / intangible book value 123.68m NOK → 124.6k NOK. Reported fact