Dealership

Ranked by standing first — what is already true before what is still ahead — then by the finding’s figure as a share of that company’s revenue for the period, largest first. A shortfall or a breach outranks any share.

Never by amount, because the bases behind them are not the same thing measured twice.

Tested: the period for a loss before tax; the thirteen week forecast for a week when cash on its own runs out; every covenant against the limit it was last tested at.

And for this business: related-party charges against the mark-up policy sets for them.

Six rows at most, in two columns, adverse first: what needs acting on before what needs watching, and a clear row only where a test ran and found nothing. The rest is under Data quality at the foot of the screen, so the face never grows past what a reader can act on in a glance.

Interest cover below covenant · Arkan Distribution · 22.5% beyond the headroom the lender last measured. Interest cover with Wio Bank, last tested against a limit of at least 2.50, on 30 Jun 2026. It does not meet the limit. Open the covenants

Recharge with no policy held · Arkan Distribution · the charge, which no policy prices. Warehouse and logistics recharge charged to Arkan Technologies carries no mark-up policy, so nothing here can say whether it is charged at arm’s length. Only one side has recognised it, so consolidation cannot rely on it either. Open the related-party arrangements

Cash below nought in week 8 · Arkan Distribution · 0.03% of the receipts forecast for the thirteen weeks. Closing cash on its own in the week beginning 19 Oct 2026, week 8 of the forecast, before anything is drawn on a facility. Open the thirteen week forecast

71 per cent of channel revenue is realised where cash cannot be freely moved

FY 2026-27 to date, as a share of Arkan Distribution's revenue.

Revenue for FY 2026-27 to date, as a share of what Arkan Distribution earned. Every account of type income carrying that market, netted debit against credit, over the months of the period. Not the sales lines by market and model, which are a narrower read on the Dealership screen: those exclude income carrying no model and cannot represent a credit note, so their total is not this company’s revenue. A bubble’s area is its revenue rather than its width, so a market earning twice another is drawn twice the area and not twice across.

Income by market, FY 2026-27 to date. 107,510,945 USD.

Income by market of Arkan Distribution, FY 2026-27 to date, read from Zoho Books. The markets add to the revenue stated for this company above, exactly, and the screen checks it before drawing — where they disagree the map is withheld and says by how much. Stated in the company’s own books; no rate is applied, and a market’s own settlement currency is not read here.

Bubble area is revenue, not width.

The 4 in the signal ink cannot move cash out freely.

A map states shares of a whole, so it is not drawn until the parts add to the revenue this screen already reports. The amounts are on the Dealership screen either way.

Five markets, four restricted; the markets come to 107,510,945 USD against revenue of 107,510,945.

Tested: the markets add to the revenue the strip states, every market is on the register and can be placed, and the read reached the end of the register.

Revenue is 12 per cent lower than it was 12 months ago

USD, the twelve months to Aug 2026.

The monthly summary of Arkan Distribution, the twelve months to Aug 2026. Revenue at each month end.

Twelve bars rather than a line: a month’s revenue is a discrete figure and a bar states it, where a line would draw a trend through months that are each their own fact. Each bar opens its month.

Twelve months to Aug 2026, in USD; the reading compares the last of them with the first.

Cost of sales takes 94% of revenue; overhead takes most of what is left

USD million, FY 2026-27 to date.

The monthly summary of Arkan Distribution, FY 2026-27 to date. Every step opens the month or the months it was added from.

A bridge rather than four tiles: the strip states the subtotals, and the steps between them are where the arithmetic is. Each step opens the month it was read from.

Claims and price protection stand here on the running account, which reads the claim lines; this screen does not, and a read is not added in this phase. Open the running account for the claim pipeline.

Eight steps, FY 2026-27 to date: revenue, cost of sales, gross profit, overhead, EBITDA, depreciation, finance cost and profit before tax, with the add-back drawn where there is one.

No amortisation is added back: every company here charges its depreciation in its own account, outside cost of sales, so gross profit less overhead is EBITDA.

Tested: revenue less cost of sales is gross profit; gross profit less overhead, plus any add-back, is EBITDA; EBITDA less depreciation and finance cost is profit before tax — each within one unit, on every reading.

Arkan Distribution holds its margin across the year

Profit before tax as a share of revenue, on the same twelve months. A margin is a ratio, and every ratio in this application is computed where the ledger is rather than in the browser.

The ratio definitions of Arkan Distribution, the twelve months to Aug 2026. Net margin at each month end.

Stock by age stands here on the running account, which reads the stock positions; this screen does not, and a read is not added in this phase. Open the running account for the stock by age.

Twelve months to Aug 2026; no below break-even. The reading compares the last month with the first.

Arkan Distribution closes the year 74 per cent below the cash it opened with

USD, the twelve months to Aug 2026. Each point is the balance at that month end; nothing here is added.

The monthly summary of Arkan Distribution, the twelve months to Aug 2026. Cash at each month end.

Sell-in against sell-out stands here on the running account, which reads the channel movements; this screen does not, and a read is not added in this phase. Open the running account for channel cover.

Twelve month ends to Aug 2026, in USD; the lowest 3,737,454 at Aug 2026. The reading compares the last balance with the first.

Days, as at 31 Aug 2026. Receivable and stock days above the line, payable days beneath it. Days compare across currencies where an amount does not, which is why these companies stand beside one another here and no chart on this screen sets their revenue side by side.

The heavy rule across each bar is the cycle.

The heavy rule across each bar is the cash conversion cycle as the ratio definitions states it, and not the three segments added up here.

The ratio definitions, Aug 2026. Every figure is computed where the ledger is. A cycle is stated by the view and never added up on this screen, so a disagreement between the rule and the segments under it is visible rather than averaged away.

Three legs and a rule: receivable and stock days above the line, payable days beneath it, and the cycle drawn across each bar as the ratio definitions state it rather than as the three added up here, so a disagreement between the rule and the segments shows on the drawing. Days compare across currencies where an amount does not.

One company as at 31 Aug 2026: Arkan Distribution 42 days.

Every company posted revenue in the month.

Arkan Distribution’s interest cover sits below its covenant; the other two hold

Committed facilities, as tested 30 Jun 2026. The rule is the limit.

Each covenant against the limit its own facility agreement sets, as last tested on 30 Jun 2026. Committed facilities only: an uncommitted line is not liquidity but a hope, so headroom measured against one is not headroom. Every row is on its own scale — a leverage multiple and an interest cover are not the same measure and do not share an axis.

The facility agreements, 30 Jun 2026. The figure, the limit and the comparison between them are the agreement’s own, as the lender last tested it. Nothing here re-measures a covenant against the ledger: the two would disagree, and the one that matters is the one the lender used. The thresholds themselves are assumed — the facility agreements are not held.

A bullet a covenant, each on its own scale: a leverage multiple and an interest cover are different measures and do not share an axis. Committed facilities only, because headroom against a line a lender may decline is not headroom. The limit is the dashed rule, and a bar that crosses it is drawn in the signal ink.

Three covenants across two facilities, tested 30 Jun 2026; one breached.

Every covenant on a committed facility carries a figure and a limit.

Tested: each covenant’s figure against its limit on the side its operator names — a floor is breached from below, a ceiling from above.

Cash on its own goes below nought in week 8

USD m, from 31 Aug 2026.

Closing cash at the end of each week, in USD m, from 31 Aug 2026. Thirteen weeks, which is the horizon the forecast is built to. The undrawn committed facility is the figure in the foot, as the forecast states it; no band is drawn above the bars.

No line: every close is within one per cent of a straight line.

No line is drawn. Every one of the 13 closes lies within one per cent of the straight line from the first to the last — the largest departure is 0.8% of the line's range — so the drawing would be a ruler: the forecast's receipts and payments move in step, and the net is the same each week to a ripple the drawing cannot show. The three figures in the sentence are the whole of what the line would have said, and each opens its workings.

The bars are the 13 weekly closes against nought, in the signal ink where the cash is below it; the opening and the closing figures stand on the ends and each opens its week.

The cash runway of Arkan Distribution, read from Zoho Books. The closing balance is the view’s own running total — opening cash plus every week to this one — and nothing on this screen accumulates it a second time. The headroom above the line is committed facility only, and the view states that sum too.

Bars against nought rather than a line: the finding is the week the cash goes under, and a bar below the line says it where a line crossing it has to be read. The committed headroom is the figure in the foot rather than a band above the bars, so the bars keep their own scale.

No line is drawn. Every one of the 13 closes lies within one per cent of the straight line from the first to the last — the largest departure is 0.8% of the line's range — so the drawing would be a ruler: the forecast's receipts and payments move in step, and the net is the same each week to a ripple the drawing cannot show. The three figures in the sentence are the whole of what the line would have said, and each opens its workings.

13 weeks from 31 Aug 2026, in USD m; committed facility undrawn 26,000,000 USD. Tested: the first week cash on its own goes below nought, and the low point as a share of the opening balance.

The forecast is a constant weekly net of (0.47)m from 3.3m; cash reaches nought in week 8.