C.ZAR: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
C.ZAR
Largest movements
- Stocks and contracts +€6,457
up €6,457 (+13.3%), from €48,536 to €54,993
- Receivables within one year +€5,622
up €5,622 (+18.8%), from €29,967 to €35,588
of which Other amounts receivable: +€4,083
- Intangible fixed assets +€4,508
new in 2025: €4,508
- Cash -€1,027
down €1,027 (-77.9%), from €1,319 to €291
mainly Tax, wage and social debts (-€7,770) and Stocks and contracts (-€6,457)
- Profit (loss) carried forward +€9,449
up €9,449 (+516%), from €1,833 to €11,281
- Tax, wage and social debts -€7,770
down €7,770 (-46.5%), from €16,698 to €8,928
of which Taxes: -€5,520
- Debts after one year +€7,000
new in 2025: €7,000
- Trade debts +€4,218
up €4,218 (+16.1%), from €26,141 to €30,360
- Short-term financial debts +€2,611
new in 2025: €2,611
- Gross operating margin +€8,977
up €8,977 (+77.3%), from €11,611 to €20,588
- Write-downs +€2,800
new in 2025: €2,800
- Other operating charges +€2,221
up €2,221 (+859%), from €259 to €2,479
- Taxes +€520
up €520 (+20.3%), from €2,563 to €3,083
- Financial charges -€235
down €235 (-8.5%), from €2,769 to €2,534
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €79,829 | €95,381 | +€15,552 | +19.5% |
| Fixed assets | 21/28 | - | €4,508 | +€4,508 | |
| Intangible fixed assets | 21 | - | €4,508 | +€4,508 | |
| Current assets | 29/58 | €79,829 | €90,873 | +€11,044 | +13.8% |
| Stocks and contracts in progress | 3 | €48,536 | €54,993 | +€6,457 | +13.3% |
| Stocks | 30/36 | €48,536 | €54,993 | +€6,457 | +13.3% |
| Amounts receivable within one year | 40/41 | €29,967 | €35,588 | +€5,622 | +18.8% |
| Trade receivables | 40 | €25,742 | €27,281 | +€1,539 | +6.0% |
| Other amounts receivable | 41 | €4,225 | €8,307 | +€4,083 | +96.6% |
| Cash at bank and in hand | 54/58 | €1,319 | €291 | -€1,027 | -77.9% |
| Deferred charges and accrued income | 490/1 | €7 | - | -€7 | |
| Total equity and liabilities | 10/49 | €79,829 | €95,381 | +€15,552 | +19.5% |
| Equity | 10/15 | €27,153 | €36,601 | +€9,449 | +34.8% |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €320 | €320 | = | 0.0% |
| Non-distributable reserves | 130/1 | €320 | €320 | = | 0.0% |
| Reserves not available under the articles | 1311 | €320 | €320 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,833 | €11,281 | +€9,449 | +516% |
| Amounts payable | 17/49 | €52,676 | €58,779 | +€6,103 | +11.6% |
| Amounts payable after more than one year | 17 | - | €7,000 | +€7,000 | |
| Financial debts | 170/4 | - | €7,000 | +€7,000 | |
| Amounts payable within one year | 42/48 | €52,436 | €51,342 | -€1,095 | -2.1% |
| Financial debts | 43 | - | €2,611 | +€2,611 | |
| Credit institutions | 430/8 | - | €2,611 | +€2,611 | |
| Trade debts | 44 | €26,141 | €30,360 | +€4,218 | +16.1% |
| Suppliers | 440/4 | €26,141 | €30,360 | +€4,218 | +16.1% |
| Taxes, remuneration and social security | 45 | €16,698 | €8,928 | -€7,770 | -46.5% |
| Taxes | 450/3 | €14,448 | €8,928 | -€5,520 | -38.2% |
| Remuneration and social security | 454/9 | €2,250 | - | -€2,250 | |
| Other amounts payable | 47/48 | €9,597 | €9,444 | -€153 | -1.6% |
| Accrued charges and deferred income | 492/3 | €240 | €438 | +€198 | +82.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €623 | €592 | -€31 | -5.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,800 | +€2,800 | |
| Other operating charges | 640/8 | €259 | €2,479 | +€2,221 | +859% |
| Gross operating margin | 9900 | €11,611 | €20,588 | +€8,977 | +77.3% |
| Operating profit (loss) | 9901 | €10,729 | €14,716 | +€3,987 | +37.2% |
| Financial income | 75/76B | €402 | €350 | -€53 | -13.1% |
| Recurring financial income | 75 | €402 | €350 | -€53 | -13.1% |
| Financial charges | 65/66B | €2,769 | €2,534 | -€235 | -8.5% |
| Recurring financial charges | 65 | €2,769 | €2,534 | -€235 | -8.5% |
| Profit (loss) for the period before taxes | 9903 | €8,363 | €12,532 | +€4,169 | +49.9% |
| Income taxes | 67/77 | €2,563 | €3,083 | +€520 | +20.3% |
| Profit (loss) for the period | 9904 | €5,799 | €9,449 | +€3,649 | +62.9% |
| Profit (loss) for the period to be appropriated | 9905 | €5,799 | €9,449 | +€3,649 | +62.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.