Opening
Yesterday the front page ran an interesting review of RPL budget rankings. Naturally I wanted to dig into our own Baltic finances: are they singing the blues, or are we already swimming in coins like Scrooge McDuck without everyone knowing? A caveat: I am a writer, not an accountant, though I understand a bit about the subject. The 2025 accounts are publicly available.
Baltika's 2025 financial report looks like the perfect excuse for a cheerful headline: the club earned 309.8 million roubles of net profit after a 274.9 million loss the year before. But read it with an accountant's eyes rather than a press release's and the story becomes less festive. There is a profit and revenue has doubled, but cash at the end of the year is just 1.3 million roubles, short-term liabilities exceed 875 million, and the auditor, Globals Audit, separately warns of material uncertainty about the club's ability to continue as a going concern.
