Grodnopromstroy
Open Joint-Stock Company Grodnopromstroy
UNP: 500036537 · 52 Kosmonavtov Ave., Grodno, Grodno Oblast 230003
Identification
Financial statements
k BYN
| Line item | Reporting year | Prior year |
|---|---|---|
| Fixed assets | 42 573 | 37 482 |
| Intangible assets | 260 | 7 |
| Income-bearing investments in tangible assets | — | — |
| Investments in long-term assets | 490 | 601 |
| Long-term financial investments | 2 | 2 |
| Long-term receivables | — | — |
| Total Section I (long-term assets) | 43 325 | 38 092 |
| Inventories | 18 120 | 22 460 |
| — materials | 13 613 | 18 136 |
| — work in progress | 194 | 852 |
| — finished goods and merchandise | 4 313 | 3 470 |
| — goods shipped | — | — |
| Deferred expenses | 649 | 666 |
| VAT on acquired goods, works, services | 702 | 413 |
| Short-term receivables | 13 177 | 15 243 |
| Short-term financial investments | — | 200 |
| Cash and cash equivalents | 3 600 | 8 157 |
| Other short-term assets | 1 | 35 |
| Total Section II (short-term assets) | 36 249 | 47 174 |
| BALANCE (assets) | 79 574 | 85 266 |
| Charter capital | 3 559 | 3 559 |
| Reserve capital | 7 483 | 7 483 |
| Additional capital | 43 054 | 43 296 |
| Retained earnings (uncovered loss) | -78 336 | -73 544 |
| Total Section III (equity) | -24 240 | -19 206 |
| Long-term loans and borrowings | 25 550 | 25 546 |
| Long-term lease liabilities | 2 010 | 327 |
| Deferred income | — | — |
| Total Section IV (long-term liabilities) | 61 956 | 61 427 |
| Short-term loans and borrowings | 5 631 | 5 007 |
| Current portion of long-term liabilities | — | — |
| Short-term payables | 31 491 | 37 565 |
| — to suppliers, contractors, providers | 8 067 | 5 893 |
| — on payroll | 2 216 | 2 474 |
| — on lease payments | 806 | 450 |
| Total Section V (short-term liabilities) | 41 858 | 43 045 |
| BALANCE (equity and liabilities) | 79 574 | 85 266 |
Computed metrics
Integrity checks
Checks passed: 5 of 6
Failed checks indicate gaps or inconsistencies in the source filing itself (typically in form F4, the cash-flow statement), not data-entry errors. The balance sheet (assets = liabilities) reconciles for every enterprise.
Signals
- Equity is negative: F1.490 −BYN 24,240k with accumulated uncovered loss F1.460 −78,336. Additional capital F1.450 43,054 was formed by revaluation and is not a real capital base.F1.490 · F1.460 · F1.450
- The financial result reversed into loss: net profit F2.210 +10,145 → −BYN 5,257k; current-activity profit F2.090 also turned negative, +838 → −2,900.F2.210 · F2.090
- Current ratio is below one: F1.290 36,249 / F1.690 41,858 = 0.87 against 1.10 a year earlier — short-term assets do not cover short-term liabilities.F1.290 · F1.690
- There is no own working capital: (F1.490 −24,240 − F1.190 43,325) / F1.290 36,249 = −1.86 against −1.22 a year earlier — turnover runs entirely on borrowed and attracted funds.F1.490 · F1.190 · F1.290
- Operating cash flow is negative in both years of the snapshot: F4.040 −12,490 → −BYN 3,293k.F4.040
- Revenue F2.010 fell 168,073 → BYN 141,639k (−15.7%).F2.010
- Net profitability fell from +6.04% to −3.71% — almost ten percentage points.F2.210 · F2.010
- Profit on sales F2.060 shrank 6,228 → BYN 2,606k (−58.2%), sales profitability 3.71 → 1.84%.F2.060 · F2.010
- Inventories F1.210 fell 22,460 → 18,120 (−19.3%) alongside falling revenue — chiefly materials F1.211 18,136 → 13,613.F1.210 · F1.211 · F2.010
- Cash F1.270 fell 8,157 → BYN 3,600k.F1.270
- The operating outflow F4.040 narrowed −12,490 → −BYN 3,293k; but the narrowing came from a contraction of activity: revenue F2.010 −15.7%, payments for inventories and services F4.031 116,213 → 83,386 (−28.3%).F4.040 · F4.031 · F2.010
- Loans and borrowings F1.510+F1.610 are nearly stable: 30,553 → 31,181 (+2.1%). Lease obligations F1.520, however, grew 327 → 2,010, and interest paid F4.093 1,148 → 2,191 (+90.9%).F1.510 · F1.610 · F1.520 · F4.093
- Operating scale is retained: revenue F2.010 BYN 141,639k, receipts from customers F4.021 140,696 — down 15.7%, but the enterprise keeps operating.F2.010 · F4.021
Recommendation
The enterprise shows a sustained structural crisis while retaining operating scale.
Recommendation: Liquidation — at a critical level of financial condition: an orderly wind-down with the realization of assets. The retained scale of turnover and the reduced cash outflow are factors that allow the procedure to be conducted in an organized way with smaller losses, with construction functions and personnel transferred to active participants of the construction sector.
Why liquidation. Equity is negative (−24,240k BYN), accumulated uncovered loss reached −78,336k BYN and grew by a further 4,792 over the year; the formally positive additional paid-in capital was formed by revaluation of long-term assets and is not a real capital cushion. Current liquidity fell below one (0.87), and the working-capital ratio is deeply negative. The financial result reversed from profit to loss (−5,257 versus +10,145), and revenue fell 15.7%. At the same time, the negative operating cash flow more than halved and the credit load is stable — i.e. the acute phase of cash outflow is easing. A capital hole of this scale (−78,336k BYN of accumulated loss with negative equity) cannot be closed by the current operating dynamics: even with the reduced outflow, restoring the capital would require external recapitalization whose economic justification is not supported by the financial results.
Confidence: HIGH. 5 of the 6 cross-form consistency checks pass; one was not computed.