Zhitkovichi Agrotekhservice
OJSC Zhitkovichi Agrotekhservice
UNP: 490313915 · Khvoynaya St., Zhitkovichi, Gomel Oblast
Identification
Financial statements
k BYN
| Line item | Reporting year | Prior year |
|---|---|---|
| Fixed assets | 5 221 | 4 895 |
| Intangible assets | — | — |
| Income-bearing investments in tangible assets | — | — |
| Investments in long-term assets | — | — |
| Long-term financial investments | — | — |
| Long-term receivables | — | — |
| Total Section I (long-term assets) | 5 221 | 4 895 |
| Inventories | 135 | 143 |
| — materials | 135 | 142 |
| — work in progress | — | — |
| — finished goods and merchandise | — | 1 |
| — goods shipped | — | — |
| Deferred expenses | — | — |
| VAT on acquired goods, works, services | 9 | 5 |
| Short-term receivables | 1 098 | 915 |
| Short-term financial investments | — | — |
| Cash and cash equivalents | 1 | — |
| Other short-term assets | — | — |
| Total Section II (short-term assets) | 1 243 | 1 063 |
| BALANCE (assets) | 6 464 | 5 958 |
| Charter capital | 833 | 833 |
| Reserve capital | — | — |
| Additional capital | 4 661 | 4 293 |
| Retained earnings (uncovered loss) | 55 | 114 |
| Total Section III (equity) | 5 549 | 5 240 |
| Long-term loans and borrowings | — | — |
| Long-term lease liabilities | — | — |
| Deferred income | — | — |
| Total Section IV (long-term liabilities) | — | — |
| Short-term loans and borrowings | — | — |
| Current portion of long-term liabilities | 76 | 77 |
| Short-term payables | 839 | 641 |
| — to suppliers, contractors, providers | 240 | 207 |
| — on payroll | 13 | 5 |
| — on lease payments | 130 | 113 |
| Total Section V (short-term liabilities) | 915 | 718 |
| BALANCE (equity and liabilities) | 6 464 | 5 958 |
Computed metrics
Integrity checks
Checks passed: 6 of 6
Signals
- Revenue collapsed almost by half: from 1,227 to 623k BYN (−49%) — a sharp loss of activity volume.
- Move into loss: the net result changed sign from +8 to −59k BYN, profit on sales from +11 to −61k BYN.
- Deeply negative operating profitability: sales profitability −9.8%, bottom-line −9.5%.
- Real equity is practically exhausted: net of revaluation it is only 888k BYN (charter 833 + accumulated profit 55) against a nominal 5,549; equity holds almost entirely on property revaluation rather than earned funds.
- Declining liquidity: current liquidity fell from 1.48 to 1.36; working-capital ratio from 0.33 to 0.26.
- Payables grew 31% (from 641 to 839k BYN) amid falling revenue.
- Cash flow from current activity remained positive (7k BYN), despite the loss.
- No short-term loans and borrowings; debt load is minimal.
- Liquidity is still above the regulatory minimum (current 1.36 against the norm of 1.25).
Recommendation
Zhitkovichi Agrotekhservice is a small agricultural-service enterprise (total assets 6.5m BYN) that entered a zone of acute financial distress in 2025. Revenue contracted almost by half (from 1,227 to 623k BYN), and activity moved into loss: profit on sales changed sign from +11 to −61k BYN, the net result from +8 to −59k BYN. Outwardly equity looks adequate (5,549k), but this is an illusion of revaluation: net of additional paid-in capital (4,661k, the result of property revaluation), real earned capital is only 888k BYN — the charter fund plus negligible accumulated profit. Permanent capital covers long-term assets by only 17%, i.e. fixed assets are financed predominantly by revaluation rather than own earned funds. Liquidity is still held above the norm (current 1.36), cash flow from current activity is token-positive, and the debt load is minimal — which gives room for remediation rather than immediate liquidation. The enterprise operationally retains a base (fixed assets, membership in the oblast agro-service network), but its business model is undermined by the drop in volumes: the preferred outcome is restructuring with restoration of utilization, cost optimization and a review of the service mix; on further deterioration — raising the question of a sector investor or merger within the agro-service structure.