Kopyl DCSP
OJSC Kopyl District Consumer-Services Plant
UNP: 600076847 · 3 Komsomolskaya St., Kopyl, Minsk Oblast
Identification
Financial statements
k BYN
| Line item | Reporting year | Prior year |
|---|---|---|
| Fixed assets | 765 | 759 |
| Intangible assets | — | — |
| Income-bearing investments in tangible assets | — | — |
| Investments in long-term assets | — | — |
| Long-term financial investments | — | — |
| Long-term receivables | — | — |
| Total Section I (long-term assets) | 765 | 759 |
| Inventories | 423 | 328 |
| — materials | 102 | 87 |
| — work in progress | 97 | 38 |
| — finished goods and merchandise | 224 | 203 |
| Deferred expenses | — | — |
| VAT on acquired goods, works, services | 1 | 1 |
| Short-term receivables | 153 | 105 |
| Short-term financial investments | — | — |
| Cash and cash equivalents | 8 | 5 |
| Other short-term assets | — | — |
| Total Section II (short-term assets) | 585 | 439 |
| BALANCE (assets) | 1 350 | 1 198 |
| Charter capital | 289 | 289 |
| Reserve capital | — | — |
| Additional capital | 664 | 566 |
| Retained earnings (uncovered loss) | — | — |
| Total Section III (equity) | 956 | 875 |
| Long-term loans and borrowings | — | — |
| Long-term lease liabilities | — | — |
| Deferred income | — | — |
| Total Section IV (long-term liabilities) | 0 | 0 |
| Short-term loans and borrowings | 60 | 27 |
| Current portion of long-term liabilities | — | — |
| Short-term payables | 310 | 272 |
| — to suppliers, contractors, providers | 54 | 66 |
| — on payroll | 25 | 25 |
| Total Section V (short-term liabilities) | 394 | 323 |
| BALANCE (equity and liabilities) | 1 350 | 1 198 |
Computed metrics
Integrity checks
Checks passed: 6 of 6
Signals
- Operating margin compressed almost to zero: profit on sales F2.060 14 → 7k BYN (sales profitability 0.39%). Gross profit F2.030 grew 225 → 303, but administrative expenses F2.040 151 → 208 (+37.7%) and selling expenses F2.050 60 → 88 (+46.7%) grew faster than revenue +15.9%.F2.060 · F2.030 · F2.040 · F2.050 · F2.010
- Net profit fell F2.210 20 → 3k BYN (−85%) despite revenue growth: cost of sales F2.020 1,327 → 1,495 (+12.7%) and administrative expenses absorb the gain.F2.210 · F2.020 · F2.040
- Short-term loans and borrowings F1.610 grew 27 → 60k BYN (+122%) — a doubling over the year; in absolute terms the load is small: 60 against total assets F1.300 1,350, with no long-term liabilities F1.590.F1.610 · F1.300 · F1.590
- Equity is 69% formed by revaluation: additional paid-in capital F1.450 664 of F1.490 956k BYN; the real contribution is charter capital F1.410 289, and the accumulated-profit line of the balance sheet is not filled.F1.450 · F1.490 · F1.410
- Inventory growth: F1.210 328 → 423k BYN (+29.0%) — work in progress F1.213 38 → 97, finished goods F1.214 203 → 224; growth outpaces revenue +15.9%.F1.210 · F1.213 · F1.214 · F2.010
- Cash flow from current activity is positive: F4.040 −9 → 3k BYN — a turnaround over the year.F4.040
- Liquidity and coverage improved: current liquidity F1.290 585 / F1.690 394 = 1.49 (was 1.36), own working capital (F1.490 956 − F1.190 765) / F1.290 585 = +0.33.F1.290 · F1.690 · F1.490 · F1.190
- Revenue is growing: F2.010 1,552 → 1,798k BYN (+15.9%), gross profit F2.030 225 → 303.F2.010 · F2.030
- The net result remains positive: F2.210 3k BYN, no loss; the balance sheet carries no accumulated uncovered loss.F2.210
Recommendation
The enterprise is a small district consumer-services plant in Kopyl, held in communal ownership through the oblast consumer-services association (state share 84.06%). The scale is minimal: total assets 1,350k BYN, annual revenue 1,798k BYN. The financial position at the reporting date is stable, but with a clear zone of operating strain.
Recommendation: Privatization — the financial condition requires no state investment, and state participation in a district consumer-services plant is not strategically necessary. The small scale and service profile make the enterprise suitable for transfer into private hands — for example, through an employee buyout or an open tender — with conditions to maintain the volume of consumer services for the district's population. Restoration of the operating margin and control over administrative expenses are natural tasks for a private owner.
Why privatization. On the positive side: liquidity is above the norm (current liquidity ratio 1.49, working-capital ratio 0.33), both improved over the year; cash flow from current activity swung to positive (−9 → +3k BYN); revenue grew 15.9% in real terms; there is no long-term debt. The area of attention is the operating margin: profit on sales compressed from 14 to 7k BYN, and net profit from 20 to 3k BYN, as administrative and selling expenses grew faster than revenue. This is a 2025-typical profile of cost inflation outpacing the pricing ability of small service enterprises, rather than a sign of internal dysfunction. In addition, it should be noted that equity is two-thirds formed by revaluation of fixed assets rather than accumulated profit.
Confidence: HIGH. All 6 cross-form consistency checks pass.