ZAR CONCEPT: 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.
ZAR CONCEPT
Largest movements
- Receivables within one year +€103,763
up €103,763 (+62.4%), from €166,343 to €270,106
of which Trade receivables: +€101,023
- Tangible fixed assets -€38,534
down €38,534 (-42.6%), from €90,523 to €51,989
of which Furniture and vehicles: -€28,054
- Cash +€25,901
up €25,901 (+128.5%), from €20,158 to €46,059
mainly Other debts (+€46,608) and Depreciation (+€38,534)
- Deferred charges and accrued income +€10,302
up €10,302 (+86.5%), from €11,916 to €22,219
- Other debts +€46,608
up €46,608 (+847.4%), from €5,500 to €52,108
- Trade debts +€37,793
up €37,793 (+35.7%), from €105,944 to €143,736
- Current portion of long-term debt +€31,177
up €31,177 (+216.9%), from €14,374 to €45,551
- Profit (loss) carried forward -€21,240
down €21,240 (-42.2%), from €50,336 to €29,096
- Tax, wage and social debts +€19,520
up €19,520 (+33.1%), from €58,930 to €78,450
of which Remuneration and social security: +€33,294
- Gross operating margin +€204,323
up €204,323 (+175.5%), from €116,411 to €320,734
- Staff costs +€161,698
up €161,698 (+303.0%), from €53,358 to €215,056
- Other operating charges +€9,599
up €9,599 (+217.6%), from €4,411 to €14,010
- Taxes +€6,809
up €6,809 (+220.5%), from €3,088 to €9,897
- Depreciation +€3,788
up €3,788 (+10.9%), from €34,746 to €38,534
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.
Cash bridge derived
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 | €292,699 | €394,131 | +€101,433 | +34.7% |
| Fixed assets | 21/28 | €90,523 | €51,989 | -€38,534 | -42.6% |
| Tangible fixed assets | 22/27 | €90,523 | €51,989 | -€38,534 | -42.6% |
| Furniture and vehicles | 24 | €69,276 | €41,222 | -€28,054 | -40.5% |
| Leasing and similar rights | 25 | €21,247 | €10,767 | -€10,480 | -49.3% |
| Current assets | 29/58 | €202,176 | €342,142 | +€139,966 | +69.2% |
| Amounts receivable after more than one year | 29 | €3,759 | €3,759 | = | 0.0% |
| Other amounts receivable | 291 | €3,759 | €3,759 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €166,343 | €270,106 | +€103,763 | +62.4% |
| Trade receivables | 40 | €140,659 | €241,682 | +€101,023 | +71.8% |
| Other amounts receivable | 41 | €25,684 | €28,424 | +€2,740 | +10.7% |
| Cash at bank and in hand | 54/58 | €20,158 | €46,059 | +€25,901 | +128.5% |
| Deferred charges and accrued income | 490/1 | €11,916 | €22,219 | +€10,302 | +86.5% |
| Total equity and liabilities | 10/49 | €292,699 | €394,131 | +€101,433 | +34.7% |
| Equity | 10/15 | €70,796 | €49,556 | -€21,240 | -30.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €50,336 | €29,096 | -€21,240 | -42.2% |
| Amounts payable | 17/49 | €221,903 | €344,575 | +€122,672 | +55.3% |
| Amounts payable after more than one year | 17 | €37,155 | €24,730 | -€12,425 | -33.4% |
| Financial debts | 170/4 | €37,155 | €24,730 | -€12,425 | -33.4% |
| Amounts payable within one year | 42/48 | €184,748 | €319,845 | +€135,097 | +73.1% |
| Current portion of amounts payable after more than one year | 42 | €14,374 | €45,551 | +€31,177 | +216.9% |
| Trade debts | 44 | €105,944 | €143,736 | +€37,793 | +35.7% |
| Suppliers | 440/4 | €105,944 | €143,736 | +€37,793 | +35.7% |
| Taxes, remuneration and social security | 45 | €58,930 | €78,450 | +€19,520 | +33.1% |
| Taxes | 450/3 | €47,411 | €33,637 | -€13,774 | -29.1% |
| Remuneration and social security | 454/9 | €11,519 | €44,813 | +€33,294 | +289.0% |
| Other amounts payable | 47/48 | €5,500 | €52,108 | +€46,608 | +847.4% |
| Remuneration, social security and pensions | 62 | €53,358 | €215,056 | +€161,698 | +303.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,746 | €38,534 | +€3,788 | +10.9% |
| Other operating charges | 640/8 | €4,411 | €14,010 | +€9,599 | +217.6% |
| Gross operating margin | 9900 | €116,411 | €320,734 | +€204,323 | +175.5% |
| Operating profit (loss) | 9901 | €23,895 | €53,134 | +€29,239 | +122.4% |
| Financial income | 75/76B | €864 | €1,061 | +€197 | +22.9% |
| Recurring financial income | 75 | €864 | €1,061 | +€197 | +22.9% |
| Financial charges | 65/66B | €12,744 | €15,538 | +€2,793 | +21.9% |
| Recurring financial charges | 65 | €12,744 | €15,538 | +€2,793 | +21.9% |
| Profit (loss) for the period before taxes | 9903 | €12,015 | €38,658 | +€26,643 | +221.7% |
| Income taxes | 67/77 | €3,088 | €9,897 | +€6,809 | +220.5% |
| Profit (loss) for the period | 9904 | €8,927 | €28,760 | +€19,834 | +222.2% |
| Profit (loss) for the period to be appropriated | 9905 | €8,927 | €28,760 | +€19,834 | +222.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.