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 nearly halved: F2.010 1,227 → BYN 623k (−49.2%). The fall is confirmed in cash: receipts from customers F4.021 1,237 → 571.F2.010 · F4.021
- Shift into loss: the net result F2.210 +8 → −BYN 59k, profit on sales F2.060 +11 → −61, profit from current activity F2.090 +10 → −78.F2.210 · F2.060 · F2.090
- Operating profitability is negative: F2.060/F2.010 0.90% → −9.79%, and on the bottom line F2.210/F2.010 0.65% → −9.47%.F2.060 · F2.010 · F2.210
- Equity rests on revaluation rather than on earnings: additional capital F1.450 4,293 → BYN 4,661k out of the total F1.490 5,549, while the earned base F1.410 833 + F1.460 55 = 888 — against long-term assets F1.190 5,221. Retained earnings F1.460 meanwhile shrank 114 → 55.F1.450 · F1.490 · F1.410 · F1.460 · F1.190
- Liquidity is falling: F1.290 1,063 → 1,243 against F1.690 718 → 915, a ratio of 1.48 → 1.36; own working capital cover (F1.490 − F1.190) / F1.290 0.33 → 0.26.F1.290 · F1.690 · F1.490 · F1.190
- Payables grow while revenue falls: F1.630 641 → BYN 839k (+30.9%), including suppliers F1.631 207 → 240. In a loss-making year the owner was nevertheless paid F4.092 BYN 4k.F1.630 · F1.631 · F4.092
- The cash position is all but absent: F1.270 0 → BYN 1k, closing balance F4.130 0 → 1. Current assets F1.290 1,243 consist almost entirely of receivables F1.250 915 → 1,098 and inventories F1.210 135.F1.270 · F4.130 · F1.290 · F1.250 · F1.210
- Operating cash flow stayed positive despite the loss: F4.040 11 → BYN 7k — current operations do not burn cash directly, though the amount is symbolic against revenue F2.010 623.F4.040 · F2.010
- There are no loans: liabilities are limited to payables F1.630 BYN 839k, lease payments F1.636 113 → 130 and the current portion of long-term liabilities F1.620 77 → 76; interest paid F4.093 2 → 1.F1.630 · F1.636 · F1.620 · F4.093
- Short-term liabilities are covered by current assets: F1.290 1,243 / F1.690 915 = 1.36 — the cushion remains, though it narrowed from 1.48.F1.290 · F1.690
Recommendation
Zhitkovichi Agrotekhservice is a small agricultural-service enterprise (total assets 6.5m BYN) that entered a zone of acute financial distress in 2025.
Recommendation: 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.
Why restructuring. 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 one (current 1.36), cash flow from current activity is token-positive, and the credit load is minimal — which gives room for remediation rather than immediate liquidation.
Confidence: HIGH. The source is annual reporting for 2025, a complete F1–F4 set; all 6 cross-form consistency checks pass.