Novaya Lyubaniya
OJSC Novaya Lyubaniya
UNP: 600010983 · Lyuban agro-town, Vileyka District, Minsk Region, 222451
Identification
Financial statements
k BYN
| Line item | Reporting year | Prior year |
|---|---|---|
| Fixed assets | 31 744 | 28 842 |
| Investments in long-term assets | 4 029 | 2 298 |
| Long-term receivables | 34 | 41 |
| Total Section I (long-term assets) | 35 807 | 31 181 |
| Inventories | 15 893 | 14 248 |
| — materials | 4 476 | 4 324 |
| — animals being raised and fattened | 7 344 | 6 129 |
| — work in progress | 4 040 | 3 765 |
| — finished goods and merchandise | 33 | 30 |
| Deferred expenses | 314 | 317 |
| VAT on acquired goods, works, services | 1 123 | 1 590 |
| Short-term receivables | 2 276 | 1 650 |
| Cash and cash equivalents | 5 | 7 |
| Total Section II (short-term assets) | 19 611 | 17 812 |
| BALANCE (assets) | 55 418 | 48 993 |
| Charter capital | 4 662 | 4 662 |
| Additional capital | 13 584 | 11 447 |
| Retained earnings (uncovered loss) | -1 727 | -1 768 |
| Total Section III (equity) | 16 519 | 14 341 |
| Long-term loans and borrowings | 283 | 507 |
| Long-term lease liabilities | 3 202 | 4 550 |
| Other long-term liabilities | 802 | 2 758 |
| Total Section IV (long-term liabilities) | 4 287 | 7 815 |
| Short-term loans and borrowings | 96 | 0 |
| Current portion of long-term liabilities | 216 | 143 |
| Short-term payables | 33 690 | 24 465 |
| — to suppliers, contractors, providers | 32 172 | 22 988 |
| — on payroll | 293 | 277 |
| — on lease payments | 1 050 | 1 061 |
| Deferred income | 610 | 2 229 |
| Total Section V (short-term liabilities) | 34 612 | 26 837 |
| BALANCE (equity and liabilities) | 55 418 | 48 993 |
Computed metrics
Integrity checks
Checks passed: 6 of 6
Signals
- Liquidity below critical: current ratio 0.57 — short-term assets cover only a little over half of short-term liabilities; formal insolvency.
- Deepening core-business loss: the loss on sales widened from −395 to −1,344k BYN, and the operating-activity result was −759k BYN against a profit a year earlier; every livestock product line except milk is loss-making.
- Bloated payables: short-term payables of 33,690k BYN (+38% year-on-year), of which 32,172k BYN to suppliers — the enterprise funds operations through deferred supplier payments.
- Accumulated uncovered loss: retained result is negative (−1,727k BYN); equity is positive mainly thanks to asset revaluation.
- Qualified audit opinion: the auditor could not confirm inventories and retained earnings because of their absence at the stock-count — the reliability of some figures is limited.
- Minimal profitability: net profit is token (+41k BYN, 0.3% of revenue) and was achieved only through one-off gains on fixed-asset disposals, not core activity.
- Rising revenue: revenue from sales grew 15.9% year-on-year (from 10,753 to 12,457k BYN).
- Lower loan burden: total loans and borrowings fell 25%, with long-term liabilities cut almost in half.
- Positive operating cash flow: the operating-activity result was +984k BYN (7.9% of revenue).
Recommendation
The enterprise is in a zone of financial breakdown despite a formally positive bottom line. A current ratio of 0.57 means short-term assets cover only a little over half of short-term liabilities — a state of formal insolvency. The core business is loss-making and worsening: the loss on sales more than tripled, and every livestock product line except milk is unprofitable. The token net profit (+41k BYN) was achieved solely through one-off gains on fixed-asset disposals, not operations. Short-term payables are bloated to BYN 33.7m, concentrated in debts to suppliers, which effectively means funding operations through deferred payments. The positive elements — revenue up 15.9%, a lower loan burden and positive operating cash flow — are insufficient to reverse the trend without restructuring of liabilities and the operating model. The audit opinion is qualified on inventories and accumulated result. The enterprise is operationally functioning, but its liability structure and the unprofitability of its core activity call for restructuring.