Results, balance sheet, ratios and cash flow

How to read BoardMasters weekly reports

The report is not a collection of numbers for accountants. It is where you can check whether a company makes money, preserves liquidity, uses financing wisely and creates value week after week.

A week can look good without being good

Imagine that a company finishes the week with more cash. At first, that seems positive. But the cash may have come from a new bond issue while the core business continues to lose money. The opposite may also happen: the company earns a strong profit while committing a large amount of cash to an investment.

The weekly report separates those stories. It compares up to five closed weeks and shows which changes came from operations, investment, financing or extraordinary transactions.

Observe Compare Understand Decide

When a report can be viewed

Weekly information becomes particularly relevant when the company opens itself to the market. The report can be accessed from the company's own screen and, when publicly available, through its ticker in the market.

Company in IPO

  • it begins presenting itself to potential investors;
  • its figures help people assess the opportunity;
  • there may not yet be enough market history;
  • TSR may not yet be available.

Listed company

  • its shares already have a market price;
  • shareholders and investors can follow its development;
  • dividends and buybacks may be reported;
  • total shareholder return can be calculated.

The report at a glance

The top of the report answers six basic questions before you enter the detailed tables.

Week 29 · official close

Financial summary

Closed report
Operating revenue ℬ 42,500 ↑ 8.4% vs previous week
EBIT ℬ 13,800 EBIT margin: 32.5%
Available cash ℬ 68,300 41.3% of assets
Total assets ℬ 165,200 ↑ 4.1% this week
Equity ℬ 117,600 71.2% of assets
Liquidity 2.42 Debt: 18.6% of assets
Five-week evolution EBIT, taxes and net profit
EBIT Taxes Net profit
W25 W26 W27 W28 W29

Illustrative figures created to explain the report. They do not belong to a real company in the game.

How to read it in less than a minute

Check net profit and compare it with the previous week.

Check whether EBIT is also positive: it shows whether the core business works before financing and taxes.

Review cash and liquidity to see whether the company can continue acting without financial strain.

Look at equity and debt to judge the strength of the structure.

Open the cash-flow section to understand where the money actually came from.

From revenue to net profit

The income statement explains how an initial amount of revenue becomes a profit or a loss. The journey matters as much as the final figure.

Result bridge

What adds and what subtracts

Revenue
+42,500
Costs
−28,700
EBIT
+13,800
Financial
−1,500
Extraordinary
+2,100
Taxes
−4,320
Net profit
+10,080
Practical reading

Three useful questions

EBIT
Does the core activity create value before interest and taxes?
Financial
Are investments helping, or is debt consuming the profit?
Net
What remains after all operating, financial and tax layers?

High profit can have different levels of quality

Earning money through consistent operating activity is not the same as relying on a one-off extraordinary transaction that may never happen again.

The balance sheet: what it owns, owes and is worth

While the income statement explains what happened during the week, the balance sheet shows the company's position at the close.

Asset composition

Where resources are held

Total assets ℬ 165,200

Cash

41%

Investments

31%

Reserved funds

20%

Receivables

8%
Balance equation

Assets = liabilities + equity

Assets ℬ 165,200 Cash, investments, reserves and receivables
=
Liabilities ℬ 47,600 Debt and outstanding payments
Equity ℬ 117,600 Capital, reserves and provisional result

Cash flow: follow the movement of money

Profit and cash are connected, but they are not the same. Cash flow classifies movements by origin, making it easier to understand why treasury increased or decreased.

OP

Operating cash flow

Prizes, competition costs, commissions, interest paid and taxes linked to normal activity.

+ℬ 18,400
IN

Investing cash flow

Movements generated by financial assets and recovery of investments held by the company.

−ℬ 6,200
FI

Financing cash flow

Bonds, capital increases, IPO proceeds, dividends, buybacks and principal repayments.

+ℬ 9,700
Σ

Net cash flow

The combined effect of operating, investing and financing movements during the week.

+ℬ 21,900

Ratios are not a mathematics exam

They convert large figures into relationships that are easier to compare. Their value lies in the question they answer, not in memorising the formula.

Profitability

EBIT margin, net margin, ROE and ROIC show how much value is generated by activity and by the capital employed.

Solvency

Leverage, liquidity, interest coverage and debt cost show how much financial risk the company supports.

Efficiency and growth

Asset turnover and revenue growth help assess how resources are used and how operating activity develops.

Ratio Question it answers Basic interpretation
EBIT margin How much revenue remains after operating costs? A higher value usually indicates more efficient operations.
Net margin How much revenue becomes final profit? Includes financial, extraordinary and tax effects.
ROE What return is generated on equity? It should be compared with risk and previous weeks.
Leverage How much liability is supported by each unit of equity? A high value increases sensitivity to cash problems.
Current liquidity Can the company cover upcoming payments? A value that is too low may indicate financial strain.
Interest coverage How many times does EBIT cover financial expenses? A higher value creates more room to pay interest.

One report, three ways to read it

CEO

Looks for profitability, liquidity or debt problems and uses the report to decide what should change next week.

Shareholder

Checks whether the company creates value, can reward its shareholders and maintains a sound financial structure.

Investor or bondholder

Decides whether buying shares or bonds provides a reasonable expected return for the risk involved.

Competitor

May identify a strong business, an acquisition opportunity or a vulnerable company before a corporate transaction.

TSR: total shareholder return

Once a company is listed, the report can measure the return received by shareholders during the week.

TSR does not only look at whether the share price increased or decreased. It also includes shareholder remuneration delivered through dividends and buybacks.

TSR = change in value + dividends + buybacks

That return is compared with initial market capitalisation to express total shareholder return as a percentage.

Common reporting mistakes

Looking only at net profit

It does not reveal whether the result came from operations or from one exceptional transaction.

Confusing profit with cash

A company can earn money and still reduce liquidity through investments or payments.

Celebrating every increase in cash

The increase may come from debt or an equity issue rather than stronger operations.

Judging one single week

Five-period trends provide far more context than one isolated number.

A simple routine for every close

01 Result

Check net profit and its change compared with last week.

02 Quality

Review EBIT, financial and extraordinary items to find the source.

03 Liquidity

Look at cash, upcoming payments and the week's net cash flow.

04 Structure

Compare assets, debt, equity and solvency ratios.

05 Decision

Decide what to preserve, correct or exploit during the next week.

Frequently asked questions

What does the weekly report show?

It shows the evolution of the income statement, balance sheet, cash, equity, ratios and cash flow across the latest closed weeks.

How many weeks can I compare?

The current view compares up to five closed weeks in chronological order so that trends are easier to identify.

What is the difference between EBIT and net profit?

EBIT shows the operating result before financial items and taxes. Net profit also includes financial results, extraordinary items and taxes.

What is the difference between profit and cash flow?

Profit measures the accounting result. Cash flow shows how money actually entered and left through operations, investments and financing.

What is TSR?

It is total shareholder return. It combines the change in market value with dividends and buybacks completed during the period.

Does positive profit mean the company is healthy?

Not necessarily. You should also review cash, debt, liquidity, profit quality and development across several weeks.

Look beyond the latest result

Build a company, generate activity and use its reports to understand which decisions are genuinely creating value.

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