Rechitsa Textile
OJSC Rechitsa Textile
UNP: 400016802 · 131 Naumova St., Rechitsa, Gomel Oblast 247500
Identification
Financial statements
k BYN
| Line item | Reporting year | Prior year |
|---|---|---|
| Fixed assets | 26 355 | 42 273 |
| Intangible assets | 2 | 4 |
| Income-bearing investments in tangible assets | — | — |
| Investments in long-term assets | 726 | 593 |
| Long-term financial investments | 3 | 3 |
| Long-term receivables | — | — |
| Total Section I (long-term assets) | 27 375 | 42 873 |
| Inventories | 2 227 | 4 068 |
| — materials | 589 | 1 155 |
| — work in progress | 34 | 259 |
| — finished goods and merchandise | 1 604 | 2 654 |
| — goods shipped | — | — |
| Deferred expenses | 10 | 4 |
| VAT on acquired goods, works, services | 4 | — |
| Short-term receivables | 2 130 | 1 698 |
| Short-term financial investments | — | 102 |
| Cash and cash equivalents | 36 | 6 |
| Other short-term assets | — | — |
| Total Section II (short-term assets) | 4 407 | 5 878 |
| BALANCE (assets) | 31 782 | 48 751 |
| Charter capital | 9 660 | 9 660 |
| Reserve capital | 12 | 12 |
| Additional capital | 26 144 | 37 793 |
| Retained earnings (uncovered loss) | -22 504 | -18 075 |
| Total Section III (equity) | 13 312 | 29 390 |
| Long-term loans and borrowings | 4 022 | 7 439 |
| Long-term lease liabilities | — | — |
| Deferred income | 819 | 441 |
| Total Section IV (long-term liabilities) | 4 841 | 7 880 |
| Short-term loans and borrowings | 47 | 2 042 |
| Current portion of long-term liabilities | 5 567 | 2 254 |
| Short-term payables | 8 015 | 7 185 |
| — to suppliers, contractors, providers | 3 892 | 4 112 |
| — on payroll | 239 | 211 |
| — on lease payments | — | — |
| Total Section V (short-term liabilities) | 13 629 | 11 481 |
| BALANCE (equity and liabilities) | 31 782 | 48 751 |
Computed metrics
Integrity checks
Checks passed: 6 of 6
Signals
- Net loss for the second year running and growing: −4,429k for 2025 versus −2,963 for 2024; accumulated uncovered loss reached −22,504k.F2.210 · F1.460
- Real equity is deeply negative: without revaluation of fixed assets (additional paid-in capital 26,144k), own funds amount to −12,844k — the positive total of Section III (13,312) rests solely on revaluation.F1.410 · F1.460 · F1.450 · F1.490
- Current liquidity is critically low: 0.32 — current assets of 4,407k cover only about a third of current liabilities of 13,629; there is no own working capital (provision −3.19).F1.290 · F1.690 · F1.490 · F1.190
- Operations are loss-making at every level: sales profitability −17.9%, net profitability −36.7%; gross profit almost wiped out — 324k on revenue of 12,059.F2.060 · F2.010 · F2.210 · F2.030
- The value of fixed assets fell sharply (42,273 → 26,355k) — mainly through a downward revaluation (−11,649k) rather than disposal; only 457k was directed to acquiring fixed assets.F1.110 · F2.220 · F4.061
- The short-term portion of long-term liabilities grew (2,254 → 5,567k): a significant share of long-term debt falls due within the year, intensifying liquidity pressure.F1.620
- Operating cash flow remains positive: +518k (4.3% of revenue) — current activity generates cash despite the accounting loss, a significant part of which is non-cash (downward revaluation −11,649k).F4.040 · F2.010 · F2.220
- Credit debt is shrinking: long-term loans and borrowings 7,439 → 4,022k, short-term 2,042 → 47; part of the debt has meanwhile moved into the short-term portion of long-term liabilities (2,254 → 5,567). Revenue grew nominally: 11,308 → 12,059k.F1.510 · F1.610 · F1.620 · F2.010
Recommendation
Rechitsa Textile is a manufacturer of textile articles (light industry) managed by a sector-specific state concern, with a state share of about 98.9%.
Recommendation: Restructuring — (recapitalization, correction of the cost structure, debt restructuring) as the main path, with liquidation as the alternative if stabilization does not take hold.
Why restructuring. The 2025 financial result is deeply negative: net loss of −4,429k BYN widened from −2,963 a year earlier, operations are loss-making at every level (sales profitability −17.9%, net −36.7%), and current liquidity is critical (0.32) with no own working capital. The key structural problem is deeply negative real equity (−12,844k BYN): the positive balance-sheet total is provided solely by revaluation of fixed assets. Accumulated uncovered loss is −22,504k BYN; the enterprise discloses overdue obligations and assesses bankruptcy risk as medium. At the same time the business retains a cash core: operating flow remains positive (+518k BYN), a significant part of the loss is non-cash (downward revaluation of buildings −11,649k BYN), overdue obligations nearly halved over the year, the self-assessed bankruptcy risk was lowered from high to medium, and revenue grew nominally. A state-supported modernization is under way at the enterprise.
Confidence: HIGH. The assessment rests on full annual reporting for 2025; the choice between restructuring and liquidation requires an expert decision. The F1–F4 set is complete and all 6 cross-form consistency checks pass.