Institutional resilience of a national institute in Serbia

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Abstract
This study examines the financial and operational performance of an institute of national importance in the Republic of Serbia during the period 2020-2025 The analyzed institution is a Serbian public research institute of national importance, engaged in mining, metallurgy, environmental protection, and related engineering sciences, with activities including research, projects, laboratory testing, technology development, and collaboration with industry and the public sector. Drawing on data from the Serbian Business Registers Agency (SBRA) and internal datasets, the analysis compares business income, expenses, net profit, and efficiency indicators, including return on assets (ROA), return on equity (ROE), and asset turnover ratio. The findings reveal notable fluctuations in profitability, followed by a strong recovery after 2023, driven by asset expansion and equity growth. The alignment of the analyzed indicators confirms the reliability of financial reporting, while the observed recovery trends demonstrate the Institute's long-term economic sustainability and resilience.

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