ZAR Trading: what changed
Two fiscal 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 Trading
Largest movements
- Stocks and contracts +€77,093
up €77,093 (+123.2%), from €62,567 to €139,660
- Receivables within one year -€52,196
down €52,196 (-57.8%), from €90,232 to €38,036
of which Trade receivables: -€51,232
- Cash +€8,487
up €8,487 (+930.6%), from €912 to €9,399
mainly Receivables within one year (+€52,196) and Other debts (+€28,272)
- Other debts +€28,272
up €28,272 (+44.9%), from €62,985 to €91,257
- Tax, wage and social debts -€4,655
down €4,655 (-64.6%), from €7,210 to €2,555
of which Remuneration and social security: -€5,900
- Reserves +€3,546
up €3,546 (+65.5%), from €5,416 to €8,962
- Trade debts +€3,345
up €3,345 (+4.9%), from €68,611 to €71,955
- Other operating charges -€2,666
down €2,666 (-70.5%), from €3,780 to €1,114
- Gross operating margin +€1,325
up €1,325 (+23.1%), from €5,749 to €7,075
- Taxes +€293
up €293 (+42.3%), from €692 to €984
- Depreciation -€218
down €218 (-13.5%), from €1,618 to €1,400
- Financial income +€105
new in 2025: €105
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 | €156,140 | €188,124 | +€31,984 | +20.5% |
| Fixed assets | 21/28 | €2,429 | €1,029 | -€1,400 | -57.6% |
| Tangible fixed assets | 22/27 | €1,734 | €334 | -€1,400 | -80.7% |
| Furniture and vehicles | 24 | €1,734 | €334 | -€1,400 | -80.7% |
| Financial fixed assets | 28 | €695 | €695 | = | 0.0% |
| Current assets | 29/58 | €153,711 | €187,095 | +€33,384 | +21.7% |
| Stocks and contracts in progress | 3 | €62,567 | €139,660 | +€77,093 | +123.2% |
| Stocks | 30/36 | €62,567 | €139,660 | +€77,093 | +123.2% |
| Amounts receivable within one year | 40/41 | €90,232 | €38,036 | -€52,196 | -57.8% |
| Trade receivables | 40 | €84,136 | €32,904 | -€51,232 | -60.9% |
| Other amounts receivable | 41 | €6,097 | €5,132 | -€964 | -15.8% |
| Cash at bank and in hand | 54/58 | €912 | €9,399 | +€8,487 | +930.6% |
| Total equity and liabilities | 10/49 | €156,140 | €188,124 | +€31,984 | +20.5% |
| Equity | 10/15 | €17,334 | €20,880 | +€3,546 | +20.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €5,416 | €8,962 | +€3,546 | +65.5% |
| Distributable reserves | 133 | €5,416 | €8,962 | +€3,546 | +65.5% |
| Profit (loss) carried forward | 14 | -€482 | -€482 | = | 0.0% |
| Amounts payable | 17/49 | €138,806 | €167,244 | +€28,438 | +20.5% |
| Amounts payable within one year | 42/48 | €138,806 | €167,244 | +€28,438 | +20.5% |
| Financial debts | 43 | - | €1,477 | +€1,477 | |
| Credit institutions | 430/8 | - | €1,477 | +€1,477 | |
| Trade debts | 44 | €68,611 | €71,955 | +€3,345 | +4.9% |
| Suppliers | 440/4 | €68,611 | €71,955 | +€3,345 | +4.9% |
| Taxes, remuneration and social security | 45 | €7,210 | €2,555 | -€4,655 | -64.6% |
| Taxes | 450/3 | €810 | €2,055 | +€1,245 | +153.6% |
| Remuneration and social security | 454/9 | €6,400 | €500 | -€5,900 | -92.2% |
| Other amounts payable | 47/48 | €62,985 | €91,257 | +€28,272 | +44.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,618 | €1,400 | -€218 | -13.5% |
| Other operating charges | 640/8 | €3,780 | €1,114 | -€2,666 | -70.5% |
| Gross operating margin | 9900 | €5,749 | €7,075 | +€1,325 | +23.1% |
| Operating profit (loss) | 9901 | €351 | €4,561 | +€4,210 | +1200.8% |
| Financial income | 75/76B | - | €105 | +€105 | |
| Recurring financial income | 75 | - | €105 | +€105 | |
| Financial charges | 65/66B | €141 | €135 | -€5 | -3.9% |
| Recurring financial charges | 65 | €141 | €135 | -€5 | -3.9% |
| Profit (loss) for the period before taxes | 9903 | €210 | €4,530 | +€4,321 | +2060.5% |
| Income taxes | 67/77 | €692 | €984 | +€293 | +42.3% |
| Profit (loss) for the period | 9904 | -€482 | €3,546 | +€4,028 | |
| Profit (loss) for the period to be appropriated | 9905 | -€482 | €3,546 | +€4,028 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.