CIRCIO HOLDING ASA: årsregnskap 2012 vs 2011
Grew 149% on revenue, weaker earnings, fresh owner capital
approved 2013-06-27; registry 2013-08-28; journal 2013 690765
Summary
What changed
Comparing Årsregnskap 2012 with 2011 for CIRCIO HOLDING ASA. Revenue 2.08m NOK → 5.18m NOK (+149.0%). Net result -2 131 NOK → -11.36m NOK. Equity 1 565 NOK → -154.7k NOK.
On the constructive side: revenue rose; owners injected capital; payroll decreased. Pressures included: net result weakened; equity eroded; current ratio dropped below 1×.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for CIRCIO HOLDING ASA.
At a glance
Scorecard
What improved
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Revenue rose
Operating income / revenue moved from 2.08m NOK to 5.18m NOK (+149.0% YoY). Calculated
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Owners injected capital
Paid-in equity rose 566.0k NOK → 13.34m NOK (+12.77m NOK). Reported fact
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Payroll decreased
Salary cost 56.8k NOK → 6 NOK (3% → 0% of revenue). Calculated
What deteriorated
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↓
Net result weakened
Net result -2 131 NOK → -11.36m NOK (net margin -0.1% → -219.4%). Calculated
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↓
Equity eroded
Book equity 1 565 NOK → -154.7k NOK (equity ratio 54.4% → -2.3%). Calculated
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Current ratio dropped below 1×
Current ratio 2.76× → 0.98× — 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 -2.3% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation