Grodnorayagroservice
OJSC Grodnorayagroservice
UNP: 500030462 · Auls station, Grodno District, Grodno Oblast
Identification
Financial statements
k BYN
| Line item | Reporting year | Prior year |
|---|---|---|
| Fixed assets | 5 668 | 5 233 |
| Intangible assets | 9 | 9 |
| Income-bearing investments in tangible assets | 1 209 | 1 054 |
| Investments in long-term assets | 224 | 95 |
| Long-term financial investments | 4 | 4 |
| Long-term receivables | — | — |
| Total Section I (long-term assets) | 7 114 | 6 395 |
| Inventories | 5 944 | 5 527 |
| — materials | 1 959 | 2 237 |
| — work in progress | — | — |
| — finished goods and merchandise | 3 985 | 3 290 |
| — goods shipped | — | — |
| Deferred expenses | 1 598 | 1 194 |
| VAT on acquired goods, works, services | 4 | 10 |
| Short-term receivables | 11 326 | 9 647 |
| Short-term financial investments | — | — |
| Cash and cash equivalents | 334 | 51 |
| Other short-term assets | — | — |
| Total Section II (short-term assets) | 19 206 | 16 429 |
| BALANCE (assets) | 26 320 | 22 824 |
| Charter capital | 33 | 33 |
| Reserve capital | 219 | 171 |
| Additional capital | 6 500 | 6 437 |
| Retained earnings (uncovered loss) | 2 122 | 116 |
| Total Section III (equity) | 8 874 | 6 757 |
| Long-term loans and borrowings | — | — |
| Long-term lease liabilities | 11 | 34 |
| Deferred income | — | — |
| Total Section IV (long-term liabilities) | 29 | 52 |
| Short-term loans and borrowings | 2 432 | 2 432 |
| Current portion of long-term liabilities | — | — |
| Short-term payables | 14 982 | 13 565 |
| — to suppliers, contractors, providers | 11 611 | 10 977 |
| — on payroll | 184 | 136 |
| — on lease payments | 23 | 25 |
| Total Section V (short-term liabilities) | 17 417 | 16 015 |
| BALANCE (equity and liabilities) | 26 320 | 22 824 |
Computed metrics
Integrity checks
Checks passed: 6 of 6
Signals
- Operating cash flow is negative: the result of current activity is −222k BYN (−104 a year earlier), the flow does not cover operating needs and is plugged by an investment inflow.
- The operating core barely earns: profit on sales is only 119k BYN (sales profitability 0.4%); net profit was formed mainly from other, investment and financial income, including exchange-rate differences.
- Liquidity below the norm: current 1.103 (norm ≥1.25), working-capital ratio 0.092 (norm ≥0.15).
- Cash is minimal (334k BYN), receivables (11,326) and inventories (5,944) tie up almost all working capital; payables of 14,982 are its main financing source.
- Exit from loss: the net result swung from −1,653 (2023) to +1,598k BYN (2024), and operating profit on sales returned to positive.
- Debt load is stable and small (loans 2,432 unchanged over the year), with no long-term credit debt.
- Equity grew (6,757 → 8,874), and liquidity improved year on year (current 1.026 → 1.103).
Recommendation
In 2024 the enterprise exited loss: the net result swung from −1,653 to +1,598k BYN, and profit on sales became positive for the first time in two years (+119). This is a positive recovery signal. However, the quality of the result is weak: the operating core barely earns (sales profitability 0.4%), and net profit was formed mainly from other, investment and financial income rather than core activity. The main problem is negative operating cash flow (−222k BYN): operating activity does not generate cash, and the gap is closed by an investment inflow and trade payables. Liquidity holds below the norms (current 1.10 against the norm of 1.25), and cash is minimal. At the same time the debt load is small and stable, and equity is growing. The profile fits restructuring: the business is viable and has begun a turnaround, but the operating model is not yet self-funding on a cash-flow basis and requires management intervention to cement the recovery.