Soligorsk HBC
Open Joint-Stock Company Soligorsk House-Building Combine
UNP: 600024738 · Lyubanskoye Highway, Soligorsk
Identification
Financial statements
k BYN
| Line item | Reporting year | Prior year |
|---|---|---|
| Fixed assets | 48 119 | 52 806 |
| Intangible assets | 116 | 92 |
| Income-bearing investments in tangible assets | 45 | 73 |
| Investments in long-term assets | 3 677 | 625 |
| Long-term financial investments | 395 | 395 |
| Long-term receivables | — | — |
| Total Section I (long-term assets) | 64 156 | 62 247 |
| Inventories | 14 007 | 13 141 |
| — materials | 6 335 | 6 915 |
| — work in progress | 1 309 | 966 |
| — finished goods and merchandise | 6 363 | 5 260 |
| — goods shipped | — | — |
| Deferred expenses | 167 | 10 009 |
| VAT on acquired goods, works, services | 22 | 3 |
| Short-term receivables | 23 674 | 24 701 |
| Short-term financial investments | — | — |
| Cash and cash equivalents | 8 605 | 4 787 |
| Other short-term assets | 119 | 30 |
| Total Section II (short-term assets) | 46 594 | 52 671 |
| BALANCE (assets) | 110 750 | 114 918 |
| Charter capital | 6 609 | 6 609 |
| Reserve capital | 37 | 37 |
| Additional capital | 37 869 | 36 366 |
| Retained earnings (uncovered loss) | -49 890 | -33 672 |
| Total Section III (equity) | -5 375 | 9 340 |
| Long-term loans and borrowings | 0 | 0 |
| Long-term lease liabilities | — | — |
| Deferred income | 5 752 | 2 907 |
| Total Section IV (long-term liabilities) | 5 961 | 3 115 |
| Short-term loans and borrowings | 70 353 | 71 757 |
| Current portion of long-term liabilities | — | — |
| Short-term payables | 39 462 | 30 357 |
| — to suppliers, contractors, providers | 19 360 | 18 026 |
| — on payroll | 1 832 | 1 583 |
| — on lease payments | — | — |
| Total Section V (short-term liabilities) | 110 164 | 102 463 |
| BALANCE (equity and liabilities) | 110 750 | 114 918 |
Computed metrics
Integrity checks
Checks passed: 6 of 6
Signals
- Equity is negative: the Section III total is −5,375k BYN against +9,340 a year earlier — the accumulated uncovered loss of 49,890 exceeds share capital of 6,609 and revaluation surplus of 37,869 combined.F1.490 · F1.460 · F1.410 · F1.450
- Core operations are loss-making at the cost-of-sales level: the gross result is −2,634k BYN against +9,582 a year earlier — cost of sales of 124,769 exceeded revenue of 122,135. The loss on sales is −8,424 against a profit of 4,869.F2.030 · F2.020 · F2.010 · F2.060
- Revenue fell by 19.1% (150,977 → 122,135k BYN).F2.010
- The net loss grew fivefold: −3,203 → −16,271k BYN; net profitability to revenue moved −2.1% → −13.3%.F2.210 · F2.010
- Current liquidity is 0.423 against 0.514 a year earlier: short-term assets of 46,594k BYN cover less than half of short-term liabilities of 110,164.F1.290 · F1.690
- There is no own working capital: the provision ratio is −1.492 against −1.004 a year earlier — long-term assets of 64,156k BYN are financed entirely by liabilities, equity being negative.F1.490 · F1.190 · F1.290
- Short-term loans and borrowings of 70,353k BYN are 64% of the balance sheet total of 110,750; there is no long-term debt, so the entire loan portfolio falls due within the year.F1.610 · F1.300 · F1.510
- Short-term payables grew by 30% (30,357 → 39,462k BYN), including payables to suppliers 18,026 → 19,360.F1.630 · F1.631
- Financing-activity expenses of 22,522k BYN against income of 12,916 — the excess is comparable to the annual loss of 16,271; a year earlier the figures were 18,448 against 9,973.F2.130 · F2.120 · F2.210
- Operating cash flow is positive: +5,529k BYN against −124 a year earlier — 4.5% of revenue.F4.040 · F2.010
- The cash balance grew from 4,787 to 8,605k BYN.F1.270
- Loan debt is not growing: loans and borrowings 71,757 → 70,353k BYN (−2.0%), with none long-term; interest paid was 19k BYN.F1.610 · F1.510 · F4.093
Recommendation
This oblast house-building combine with a state (communal) share of 99.89% is, as of 2025, in a state of capital insolvency: equity became negative (−5,375k BYN), the accumulated uncovered loss (49,890k BYN) exceeded charter and additional paid-in capital, current liquidity of 0.42 is far from the norm, revenue contracted 19%, and core activity is loss-making (result on sales −8,424k BYN).
Recommendation: Restructuring — the financial profile is critical. The combination of a deep destruction of the capital structure with retained operating cash revenue points to restructuring — restoration of capital and the debt load while preserving an operationally viable construction business — rather than liquidation.
Why restructuring. At the same time, operations generate positive cash flow (+5,529k BYN), and the annual loss (16,271k BYN) is formed predominantly by non-cash currency revaluation (−18,730k BYN) rather than an outflow on core activity.
Confidence: HIGH. All 6 cross-form consistency checks pass.