According to the law of the Republic of Croatia, every entrepreneur, depending on the size of the entrepreneur, is obliged to prepare financial statements. Using the analysis of the balance sheet and the profit and loss account found in the financial statements, it is possible to get a clear picture of the business of an individual company and to determine its position on the market. Analyzing the balance sheet and profit and loss account of the company Brodosplit d.d., the main goal of the work was to determine the credit rating of the mentioned company, study its liquidity and see what led one of the largest Croatian shipyards to pre-bankruptcy. Analyzing the horizontal and vertical analysis and the analysis of the financial indicators of the company Brodosplit d.d. in the time period from 2019 to 2022, the credit rating of the mentioned company is CCC, i.e. problematic zone. The credit rating of CCC is characterized by poor ability to fulfill financial obligations, very high credit risk, and the probability of blockade, bankruptcy or liquidation is almost certain and expected in the next two years of operations. During the course of our work, we also learned about the aforementioned characterizations of the CCC credit rating at Brodosplit d.d. As explained in the conclusion, the start of the COVID-19 pandemic and the war between Russia and Ukraine led the mentioned company to reduce production, lay off workers and finally start pre- bankruptcy proceedings in mid-2022. Although the company Brodosplit d.d. had liquidity problems and a negative financial picture during the observed period, in the future if new shipbuilding projects are contracted or new sources of external financing are found, the Croatian shipyard can improve the current financial picture