Torgovy Tsentr (Svetlogorsk)
Open Joint-Stock Company Torgovy Tsentr
UNP: 400004545 · 20a Molodyozhny Microdistrict, Svetlogorsk, Gomel Oblast
Identification
Financial statements
k BYN
| Line item | Reporting year | Prior year |
|---|---|---|
| Fixed assets | 4 296 | 3 924 |
| Intangible assets | 7 | 8 |
| Income-bearing investments in tangible assets | — | — |
| Investments in long-term assets | 23 | 24 |
| Long-term financial investments | — | — |
| Long-term receivables | — | 2 |
| Total Section I (long-term assets) | 4 326 | 3 958 |
| Inventories | 1 165 | 1 038 |
| — materials | 55 | 54 |
| — work in progress | 27 | 24 |
| — finished goods and merchandise | 1 083 | 960 |
| — goods shipped | — | — |
| Deferred expenses | — | 1 |
| VAT on acquired goods, works, services | — | 2 |
| Short-term receivables | 57 | 80 |
| Short-term financial investments | — | — |
| Cash and cash equivalents | 2 787 | 2 515 |
| Other short-term assets | — | — |
| Total Section II (short-term assets) | 4 009 | 3 636 |
| BALANCE (assets) | 8 335 | 7 594 |
| Charter capital | 163 | 163 |
| Reserve capital | 35 | 28 |
| Additional capital | 4 080 | 3 605 |
| Retained earnings (uncovered loss) | 2 151 | 2 032 |
| Total Section III (equity) | 6 429 | 5 828 |
| Long-term loans and borrowings | — | — |
| Long-term lease liabilities | — | — |
| Deferred income | — | — |
| Total Section IV (long-term liabilities) | 1 | 1 |
| Short-term loans and borrowings | — | — |
| Current portion of long-term liabilities | — | — |
| Short-term payables | 1 900 | 1 760 |
| — to suppliers, contractors, providers | 1 539 | 1 460 |
| — on payroll | 93 | 80 |
| — on lease payments | — | — |
| Total Section V (short-term liabilities) | 1 905 | 1 765 |
| BALANCE (equity and liabilities) | 8 335 | 7 594 |
Computed metrics
Integrity checks
Checks passed: 6 of 6
Signals
- Operating-margin compression: profit on sales fell 332 → 95k BYN (−71%), net profit 668 → 382k BYN (−43%) while revenue grew +8.4% — selling expenses grew 20% and outran revenue.
- Bottom-line profitability fell from 4.21% to 2.22% (−1.99 pp); sales profitability from 2.09% to 0.55%.
- High liquidity: current liquidity ratio 2.10 against the norm of 1.25; working-capital ratio 0.525 against the norm of 0.15.
- No credit load: neither long-term nor short-term loans and borrowings in either year.
- Positive cash flow from current activity (+504k BYN) and a large cash reserve (2,787k BYN, 33% of assets).
- Revenue growth +8.4% and a reduction in receivables (80 → 57k BYN) with stable activity.
Recommendation
OJSC Torgovy Tsentr is a small retail-trade enterprise in Svetlogorsk with a district communal ownership share of 44.37% (a non-controlling, blocking stake). The financial condition is stable: with a balance sheet of 8,335k BYN the enterprise has no credit load, holds a cash reserve of 2,787k BYN (a third of assets), shows high liquidity (current liquidity ratio 2.10 and working-capital ratio 0.525 — both well above the norm) and positive cash flow from current activity. Revenue grew 8.4%. The main area of attention is the compression of operating margin in 2025: profit on sales fell 71%, net profit 43%, as selling expenses grew 20% and outran revenue growth; this reflects the general inflationary backdrop rather than dysfunction of the enterprise itself. Given the healthy balance sheet, the absence of debt, the non-controlling state stake and the de-nationalization already under way (in 2025 an exchange of the state's shares for "Property" vouchers was carried out), the enterprise is a privatization candidate with a stable financial profile.