Mechanization Department No. 12
OJSC Mechanization Department No. 12
UNP: 100006551 · 16 I. Gurskogo St., Minsk 220015
Identification
Financial statements
k BYN
| Line item | Reporting year | Prior year |
|---|---|---|
| Fixed assets | 3 887 | 3 822 |
| Intangible assets | 3 | 3 |
| Income-bearing investments in tangible assets | 29 | — |
| Investments in long-term assets | — | — |
| Long-term financial investments | — | — |
| Long-term receivables | 32 | — |
| Total Section I (long-term assets) | 3 950 | 3 825 |
| Inventories | 212 | 187 |
| — materials | 212 | 187 |
| — work in progress | — | — |
| — finished goods and merchandise | — | — |
| — goods shipped | — | — |
| Deferred expenses | 6 | 4 |
| VAT on acquired goods, works, services | 19 | 30 |
| Short-term receivables | 1 102 | 1 408 |
| Short-term financial investments | — | — |
| Cash and cash equivalents | 426 | 504 |
| Other short-term assets | — | — |
| Total Section II (short-term assets) | 1 765 | 2 133 |
| BALANCE (assets) | 5 715 | 5 958 |
| Charter capital | 1 030 | 1 030 |
| Reserve capital | 91 | 91 |
| Additional capital | 5 152 | 5 019 |
| Retained earnings (uncovered loss) | -854 | -533 |
| Total Section III (equity) | 5 419 | 5 607 |
| Long-term loans and borrowings | — | — |
| Long-term lease liabilities | 41 | — |
| Deferred income | — | — |
| Total Section IV (long-term liabilities) | 43 | 2 |
| Short-term loans and borrowings | — | — |
| Current portion of long-term liabilities | — | — |
| Short-term payables | 253 | 349 |
| — to suppliers, contractors, providers | 10 | 4 |
| — on payroll | 81 | 71 |
| — on lease payments | 75 | 182 |
| Total Section V (short-term liabilities) | 253 | 349 |
| BALANCE (equity and liabilities) | 5 715 | 5 958 |
Computed metrics
Integrity checks
Checks passed: 4 of 6
Failed checks indicate gaps or inconsistencies in the source filing itself (typically in form F4, the cash-flow statement), not data-entry errors. The balance sheet (assets = liabilities) reconciles for every enterprise.
Signals
- Deepening loss: net result F2.210 −65 → −322k BYN (×5), loss on sales F2.060 −292, net profitability −12.7%.F2.210 · F2.060 · F2.010
- Real equity on the edge: charter capital F1.410 1,030 is almost absorbed by the accumulated uncovered loss F1.460 −854 (growing from −533) — real capital +176; the positive total F1.490 5,419 holds on additional paid-in capital F1.450 5,152.F1.410 · F1.460 · F1.490 · F1.450
- Operating cash flow is negative: F4.040 +172 → −28k BYN.F4.040
- Administrative expenses F2.040 377 exceed gross profit F2.030 85 — the operating model is loss-making at the sales level.F2.040 · F2.030
- Revenue declines while cost of sales rises: F2.010 2,581 → 2,542 (−1.5%) against F2.020 2,331 → 2,457 (+5.4%) — gross profit F2.030 compressed 250 → 85.F2.010 · F2.020 · F2.030
- Receivables F1.250 1,102k BYN — 43% of revenue F2.010 2,542, though down over the year from 1,408.F1.250 · F2.010
- Very high liquidity: F1.290 1,765 / F1.690 253 = 6.98 — current liabilities are minimal.F1.290 · F1.690
- Own working capital is positive: (F1.490 5,419 − F1.190 3,950) / F1.290 1,765 = +0.83.F1.490 · F1.190 · F1.290
- No credit load: no long- or short-term loans or borrowings in either period; all liabilities are the lease F1.520 41 and payables F1.630 253.F1.520 · F1.630
- Cash cushion: F1.270 426k BYN (504 a year earlier) — more than all current liabilities F1.690 253.F1.270 · F1.690
Recommendation
OJSC Mechanization Department No. 12 (rental of construction equipment, Minsk, republican subordination) is an enterprise with a solid balance sheet but deepening operating unprofitability.
Recommendation: Restructuring — bringing it to break-even through utilization of the equipment fleet, sub-leasing and reduction of overhead — rather than liquidation. The presence of assets (construction machinery, investment property) and the absence of a credit load make the business operationally recoverable.
Why restructuring. In 2025 net loss grew to −322k (versus −65 in 2024), loss on sales was −292k, revenue fell 1.5% while cost of sales rose; administrative expenses (377k) exceed gross profit (85k). Operating cash flow went negative (−28k). At the same time the enterprise has practically no debt, possesses very high liquidity (6.98) and positive own working capital (0.83), and retains a cash cushion (426k). The main structural risk is real equity: charter capital (1,030k) is almost absorbed by the accumulated uncovered loss (−854k, growing), and the positive total capital (5,419k) is held by revaluation of fixed assets; one more loss-making year could push real capital into negative territory.
Confidence: MEDIUM. 4 of the 6 cross-form consistency checks pass; two were not computed.