Agrokombinat "Skidelsky"
OJSC Agrokombinat "Skidelsky"
UNP: 500030539 · 1 Promyshlennaya St., Skidel, Grodno Oblast
Identification
Financial statements
k BYN
| Line item | Reporting year | Prior year |
|---|---|---|
| Fixed assets | 722 825 | 662 350 |
| Intangible assets | 94 | 100 |
| Investments in long-term assets | 17 770 | 2 528 |
| Long-term financial investments | 64 | 71 |
| Long-term receivables | 1 499 | 1 691 |
| Other long-term assets | — | 67 |
| Total Section I (long-term assets) | 742 252 | 666 807 |
| Inventories | 191 988 | 197 213 |
| — materials | 78 883 | 84 503 |
| — animals being raised and fattened | 79 448 | 79 397 |
| — work in progress | 23 083 | 20 527 |
| — finished goods and merchandise | 10 574 | 12 786 |
| Deferred expenses | 2 906 | 3 278 |
| VAT on acquired goods, works, services | 4 158 | 4 500 |
| Short-term receivables | 26 858 | 25 811 |
| Short-term financial investments | 23 | — |
| Cash and cash equivalents | 2 128 | 1 446 |
| Other short-term assets | 58 | 79 |
| Total Section II (short-term assets) | 228 119 | 232 327 |
| BALANCE (assets) | 970 371 | 899 134 |
| Charter capital | 173 997 | 173 997 |
| Reserve capital | 1 | 1 |
| Additional capital | 466 769 | 398 916 |
| Retained earnings (uncovered loss) | -224 880 | -178 633 |
| Total Section III (equity) | 415 887 | 394 281 |
| Long-term loans and borrowings | 195 449 | 273 588 |
| Long-term lease liabilities | 15 932 | 18 003 |
| Deferred income | 16 821 | 14 719 |
| Other long-term liabilities | 21 717 | 13 147 |
| Total Section IV (long-term liabilities) | 249 919 | 319 457 |
| Short-term loans and borrowings | 87 137 | 77 937 |
| Current portion of long-term liabilities | 107 469 | 17 858 |
| Short-term payables | 108 601 | 88 529 |
| — to suppliers, contractors, providers | 80 972 | 65 524 |
| — on payroll | 5 620 | 4 724 |
| — on lease payments | 6 076 | 5 833 |
| Deferred income | 1 358 | 1 066 |
| Total Section V (short-term liabilities) | 304 565 | 185 396 |
| BALANCE (equity and liabilities) | 970 371 | 899 134 |
Computed metrics
Integrity checks
Checks passed: 6 of 6
Signals
- Net loss −46,374 — the second loss-making year running (−30,080 in the previous one), the loss deepening by ~54%.
- Profit on sales turned negative: from +5,728 to −1,365 — core activity became loss-making at the operating level.
- Current liquidity 0.75 — sharply below the norm of 1.25 (a year earlier it was exactly at the 1.25 threshold): current liabilities are not covered by current assets.
- Negative working-capital ratio (−1.43): there is no own working capital, turnover is financed by liabilities.
- Operating cash flow is negative (−1,288 versus +2,442 a year earlier).
- Accumulated uncovered loss grew to −224,880 (from −178,633): coverage of long-term assets by real capital is negative — structural distress; nominal capital is positive only thanks to revaluation.
- The short-term portion of long-term liabilities grew 6× (17,858 → 107,469): a significant volume of debt moves into the next year's repayment zone, intensifying liquidity pressure.
- Short-term payables to suppliers grew 24% (65,524 → 80,972) amid falling revenue — a sign of stretched payments.
- Revenue fell 2.4% against inflation — a real contraction.
- Total debt load reduced 19.6% (long-term loans cut from 273,588 to 195,449).
- Receipts from customers form the main inflow (382,628); the enterprise retains a real production turnover of ~394m.
Recommendation
The enterprise's financial condition is characterized as critical. For the second year running a net loss is recorded (−46,374 after −30,080), with the loss deepening, and profit on sales moved from positive to negative (−1,365) — core activity has become loss-making at the operating level. Current liquidity fell to 0.75 against the norm of 1.25, the working-capital ratio is deeply negative, and operating cash flow is negative. Accumulated uncovered loss reached −224,880: equity remains nominally positive solely thanks to additional paid-in capital from asset revaluation, while coverage of long-term assets by real capital is negative. This is a structural sign of insolvency rather than a temporary downturn.
At the same time the enterprise retains a significant real production turnover (revenue about 394m, receipts from customers 383m) and over the year substantially reduced its debt load (−19.6%). This is a poultry-farming agro-combine — town-forming for its city and significant for the oblast's food supply — which makes outright liquidation socially unacceptable while a viable production core is preserved. The recommended scenario is restructuring: deep remediation of the cost and debt structure (the source of the loss is the negative result of financial activity with interest payable of about 29.8m and loss-making other current activity), while preserving operating production. The final choice between rehabilitation and a controlled withdrawal of part of the assets requires a separate expert assessment of the production model's viability.