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.F1.290 · F1.690
- Core-business loss deepening: loss from sales widened from -395 to -1,344k BYN; current-activity result -759 against +685 a year earlierF2.060 · F2.090
- 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.F1.630 · F1.631
- Accumulated uncovered loss: retained result is negative (−1,727k BYN); equity is positive mainly thanks to asset revaluation.F1.460 · F1.450 · F1.490
- Own working capital ratio -0.98: equity of 16,519 does not cover long-term assets of 35,807 — working capital is entirely funded by liabilitiesF1.490 · F1.190 · F1.290
- Net profit is symbolic: 41k BYN, 0.3% of revenue — held up by the investment and financial result (F2.140 -900 → +800) against a current-activity loss of -759F2.210 · F2.010 · F2.140 · F2.090
- Rising revenue: revenue from sales grew 15.9% year-on-year (from 10,753 to 12,457k BYN).F2.010
- Lower loan burden: total loans and borrowings fell 25%, with long-term liabilities cut almost in half.F1.510 · F1.610 · F1.590
- Positive operating cash flow: the operating-activity result was +984k BYN (7.9% of revenue).F4.040 · F2.010
Recommendation
The enterprise is in a zone of financial breakdown despite a formally positive bottom line.
Recommendation: Restructuring. 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.
Why restructuring. 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.
Confidence: MEDIUM. The audit opinion is qualified on inventories and accumulated result. The source is annual reporting for 2025, a complete F1–F4 set; all 6 cross-form consistency checks pass. The score is capped: with a current ratio below 1 the model assigns no value above 0.85 regardless of other indicators.