Yarrow
ActiveSummary
The annual accounts of Yarrow for financial year 2025 show a net loss of 73% of the equity at the start of that year. The 2025 annual accounts show equity of €400,077 and a net result of -€135,178. Its solvency ranks better than 95% of 20,649 sector peers (NACE 86, financial year 2025). The company has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals. The computed 12-month bankruptcy probability is below 0.1% (very low).
Overview
- Staff
- 1.7 FTE
- Equity
- €400,077
- Loss
- -€135,178
- Largest shareholder
- honderdvijftien · 24%
- LESAGE Pieter Georges MarcelDirector
- ALLEVA Medical LimitedDirector
Why 57raises riskCapped at 59: a net loss of at least half of total assets or of the equity at the start of the financial yearLoss of €135,178, the second in a row (financial year 2025)lowers riskSector: Human health activities (NACE 86)Liquidity: current ratio 21.77, cash €211,947Size: total assets €411,185Show the evidence
Checked score
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 86, micro): better than 82% on solvency, 95% on liquidity, 1% on profitability and 91% on growth.
The bankruptcy probability was computed on 29-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 2 accounts on average 31 days before the deadline; the sector median (NACE 86) for financial year 2024 is 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Liquidity more than triplescurrent ratio 21.77
- Equity above €200,000equity €400,077 ▲115%
Financials · financial year 2025, micro format
2024 to 2025, 2 financial years
The operating result stays negative: a loss of €134,087 in 2025 against €29,087 in 2024; the loss grows.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 86, Human health activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
- 2025 Equity +115%, Total assets +102% on 2024. Capital increase of €400,000 (Official Gazette 11-09-2025).
Peer companies
Historical observationOf the 3,223 companies that looked in July 2024 the way this one looks now, 3.4% went bankrupt within 24 months and 87.8% are still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a loss of 10% of the balance sheet or more
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: < 0.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 3,223 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Remuneration, social security and pensions62 | €6,779 | €50,205 | ▲ 641% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €23,091 | €54,611 | ▲ 137% |
| Other operating charges640/8 | €1,754 | €516 | ▼ 70.6% |
| Gross operating margin9900 | €2,537 | -€28,755 | - |
| Operating profit (loss)9901 | -€29,087 | -€134,087 | ▼ 361% |
| Financial income75/76B | €47 | €488 | ▲ 931% |
| Recurring financial income75 | €47 | €488 | ▲ 931% |
| Financial charges65/66B | €1,372 | €1,580 | ▲ 15.2% |
| Recurring financial charges65 | €1,372 | €1,580 | ▲ 15.2% |
| Profit (loss) for the period before taxes9903 | -€30,411 | -€135,178 | ▼ 344% |
| Profit (loss) for the period9904 | -€30,411 | -€135,178 | ▼ 344% |
| Profit (loss) for the period to be appropriated9905 | -€30,411 | -€135,178 | ▼ 344% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €203,861 | €411,185 | ▲ 102% |
| Fixed assets21/28 | €98,989 | €180,069 | ▲ 81.9% |
| Intangible fixed assets21 | €61,816 | €148,700 | ▲ 141% |
| Tangible fixed assets22/27 | €35,085 | €29,614 | ▼ 15.6% |
| Land and buildings22 | €10,770 | €9,680 | ▼ 10.1% |
| Plant, machinery and equipment23 | €24,315 | €19,934 | ▼ 18.0% |
| Financial fixed assets28 | €2,088 | €1,755 | ▼ 16.0% |
| Current assets29/58 | €104,871 | €231,116 | ▲ 120% |
| Amounts receivable within one year40/41 | €89,333 | €17,258 | ▼ 80.7% |
| Trade receivables40 | €82,803 | €6,947 | ▼ 91.6% |
| Other amounts receivable41 | €6,530 | €10,311 | ▲ 57.9% |
| Cash at bank and in hand54/58 | €14,104 | €211,947 | ▲ 15× |
| Deferred charges and accrued income490/1 | €1,435 | €1,911 | ▲ 33.2% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €203,861 | €411,185 | ▲ 102% |
| Equity10/15 | €185,922 | €400,077 | ▲ 115% |
| Contributions10/11 | €115,000 | €515,000 | ▲ 348% |
| Profit (loss) carried forward14 | -€30,411 | -€165,590 | ▼ 444% |
| Investment grants15 | €101,333 | €50,667 | ▼ 50.0% |
| Amounts payable17/49 | €17,939 | €11,108 | ▼ 38.1% |
| Amounts payable after more than one year17 | €120 | €491 | ▲ 311% |
| Other amounts payable178/9 | €120 | €491 | ▲ 311% |
| Amounts payable within one year42/48 | €17,819 | €10,617 | ▼ 40.4% |
| Trade debts44 | €17,819 | €10,617 | ▼ 40.4% |
| Suppliers440/4 | €17,819 | €10,617 | ▼ 40.4% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€30,411 | -€135,178 | ▼ 344% |
| + Depreciation and write-downs630 | €23,091 | €54,611 | ▲ 137% |
| Operating cash flow (approximation) | -€7,321 | -€80,568 | ▼ 1,001% |
| Investment in fixed assets (approximation) | - | -€135,690 | - |
| Change in cash | - | €197,844 | - |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (2)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 29-06-2026 | 2026-00213667 |
| 31-12-2024 | micro format | 01-07-2025 | 2025-00206974 |
Similar companies · same sector, comparable size
Subsidies and aid
Flemish government
2024 to 2025 · 6 entries · €225,497 awarded · €161,545 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 4 | €34,000 | €85,000 |
| 2024 | 2 | €191,497 | €76,545 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
- Day-to-day management
| Name | Functions and periods |
|---|---|
| LESAGE Pieter Georges Marcel |
|
| ALLEVA Medical Limitedfrom an act |
|
| BALLIU Kristof |
|
| LESAGE Pieter |
|
Owners and capital
Owners
2 ownersOwners 2
-
24%
-
21.82%
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Capital and shareholders
- BALLIU Kristof 760 shares (76%) · €3,800
- STUDIO DOTT. (BE 0475.357.111) 240 shares (24%) · €1,200
The Belgian Official Gazette names shareholders only when an act mentions them; the share register itself is not published.
- 11-09-2025 Capital increase of €400,000 · 22,000 new shares · in cash
- 22-08-2023 Incorporation · €5,000 · 1,000 shares
Group and network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
11-09
Gazette deed
Resignations: LESAGE Pieter (director) and BALLIU Kristof (director)Appointments: LESAGE Pieter, BALLIU Kristof and ALLEVA Medical Limited · Permanent representative: CHOI Max · Capital14 facts ▸
- General meeting, “buitengewone algemene vergadering, alle aandeelhouders aanwezig of geldig vertegenwoordigd” (deed in Dutch)
- Capital
- Kind of shares, “created, rechten, verplichtingen en voorrechten bepaald” (deed in Dutch)
- Share issue, “exchange”, 110000 (deed in Dutch)
- Capital increase, €400,000
- Bank account, “Belfius Bank NV, gedeponeerd” (deed in Dutch)
- Amendment of the articles
- Director resignation, LESAGE Pieter (director)
- Director resignation, BALLIU Kristof (director)
- Director appointment, LESAGE Pieter (class A director)
- Director appointment, BALLIU Kristof (class B director)
- Director appointment, ALLEVA Medical Limited (c bestuurder)
- +2 further facts in this act
26-02
Gazette deed
Capital & sharesShare issue · Bank account3 facts ▸
- General meeting, “alle aandeelhouders aanwezig of geldig vertegenwoordigd, buitengewone algemene vergadering” (deed in Dutch)
- Share issue, 110000, EUR
- Bank account, “in toepassing van het WVV, bijzondere rekening op naam van de Vennootschap” (deed in Dutch)
22-08
Gazette deed
IncorporationAppointments: BALLIU Kristof (director) and LESAGE Pieter Georges Marcel (director) · Founder · Founding capital7 facts ▸
- Incorporation, “Yarrow” (deed in Dutch)
- Founder, BALLIU Kristof
- Founding capital, €5,000
- Bank account, “vennootschap in oprichting, bijzondere rekening” (deed in Dutch)
- Director appointment, BALLIU Kristof (director (not named in the articles))
- Director appointment, LESAGE Pieter Georges Marcel (director (not named in the articles))
- Director appointment, BALLIU Kristof (managing director)
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 72027B0385/00E000 | Flanders | 766 m² | 1 · 161 m² | 12.4 m · 3 |
How the parcels are linked
Articles of association
What the company does
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Bree, Vlaamse Gewest” (deed in Dutch)
Who represents it, and how
- Who signsWho may bind the company towards others, for example by signing a contract.
- Each director alone
- Board ruleHow the board is made up, meets and takes decisions.
- “Met of zonder beperking van duur, 3” (deed in Dutch)
Meetings and financial year
- Annual meetingWhen the shareholders meet each year, among other things to approve the annual accounts.
- First Friday of June at 18:00deed of 22-08-2023
- Meeting accessWho may attend the meeting and what is needed to be admitted.
- “Mag deelnemen aan algemene vergadering zonder te kunnen deelnemen aan stemming” (deed in Dutch)deed of 11-09-2025
Oversight and winding up
- Statutory auditorA statutory auditor is a registered auditor who checks the accounts; small companies need not have one.
- No statutory auditor