TURTLESEC AS

0165 OSLO

Finances

Share Ownership

Return on Equity

11,74 %

Current Ratio

2,62

Debt-to-Equity Ratio

Key figures (NOK)	2022	2021	2020	2019
Revenue	8 545 000	5 849 000	3 400 000	2 620 000
Net Income	290 000	839 000	656 000	472 000
Total Assets	3 991 000	3 652 000	1 974 000	1 102 000
Total Equity	2 470 000	2 180 000	1 342 000	686 000

Income (NOK)	2022	2021	2020	2019
Revenue	8 545 000	5 849 000	3 400 000	2 620 000
Expenditure	8 169 000	4 772 000	2 558 000	2 014 000
Operating Profit	375 000	1 077 000	842 000	606 000
Financial Income	7 000	3 000	8 000	−1 000
Financial Costs	5 000	6 000	10 000	0
Financial Balance	2 000	−3 000	−2 000	−1 000
Earnings Before Tax	377 000	1 074 000	841 000	605 000
Tax	87 000	235 000	185 000	133 000
Net Income	290 000	839 000	656 000	472 000

Balance (NOK)	2022	2021	2020	2019
Total Fixed Assets	0	88 000	55 000	17 000
Total Current Assets	3 991 000	3 564 000	1 920 000	1 085 000
Total Assets	3 991 000	3 652 000	1 974 000	1 102 000
Total Retained Equity	2 440 000	2 156 000	1 317 000	473 000
Total Equity	2 470 000	2 180 000	1 342 000	686 000
Total Long-Term Debt	0	0	0	0
Total Current Debt	1 521 000	1 472 000	633 000	416 000
Total Equity and Debt	3 991 000	3 652 000	1 974 000	1 102 000

Cash flow (NOK)	2022	2021	2020	2019
Sales Income	8 545 000	5 849 000	3 400 000	2 620 000
Other Income	0	0	0	0
Revenue	8 545 000	5 849 000	3 400 000	2 620 000
Cost of Goods Sold	112 000	37 000	2 000	0
Salary Costs	7 332 000	4 153 000	2 208 000	1 838 000
Depreciation	41 000	35 000	8 000	5 000
Impairment	47 000	0	0	0
Expenditure	8 169 000	4 772 000	2 558 000	2 014 000
Operating Profit	375 000	1 077 000	842 000	606 000
Financial Income	7 000	3 000	8 000	−1 000
Financial Costs	5 000	6 000	10 000	0
Financial Balance	2 000	−3 000	−2 000	−1 000
Dividends	0	0	0	0
Net Income	290 000	839 000	656 000	472 000

Balance details (NOK)	2022	2021	2020	2019
Goodwill	0	0	0	0
Total Intangible Assets	0	0	0	0
Real Eastate	0	0	0	0
Machinery and Plant Facilities	0	0	0	0
Fixtures	0	88 000	55 000	17 000
Total Tangible Assets	0	88 000	55 000	17 000
Total Fiancial Fixed Assets	0	0	0	0
Total Fixed Assets	0	88 000	55 000	17 000
Stock	0	0	0	0
Total Investments	800 000	1 050 000	100 000	0
Cash, Bank	1 615 000	1 098 000	1 184 000	524 000
Total Current Assets	3 991 000	3 564 000	1 920 000	1 085 000
Total Assets	3 991 000	3 652 000	1 974 000	1 102 000
Total Equity	2 470 000	2 180 000	1 342 000	686 000
Short-Term Group Debt	0	0	0	0
Total Long-Term Debt	0	0	0	0
Creditors	84 000	87 000	3 000	22 000
Unpaid Taxes	667 000	749 000	215 000	99 000
Dividends	0	0	0	0
Other Current Debt	687 000	400 000	230 000	163 000
Total Current Debt	1 521 000	1 472 000	633 000	416 000
Total Equity and Debt	3 991 000	3 652 000	1 974 000	1 102 000

Financial indicators	2022	2021	2020	2019
Return on Equity	11,74 %	38,49 %	48,88 %	68,8 %
Debt-to-Equity Ratio	0	0	0	0
Operating Profit Margin	4,39 %	18,41 %	24,76 %	23,13 %
Current Ratio	2,62	2,42	3,03	2,61
Quick Ratio	2,62	2,42	3,03	2,61
Equity Ratio	0,62	0,6	0,68	0,62
Gross Profit Margin	98,69 %	99,37 %	99,94 %	100 %