The Yellowstone: 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.
The Yellowstone
Largest movements
- Cash +€23,157
up €23,157 (+4,327%), from €535 to €23,693
mainly Investment in fixed assets (net) (+€16,277) and Net result for the year (+€10,816)
- Current investments +€13,172
new in 2025: €13,172
- Tangible fixed assets -€12,104
down €12,104 (-100%), from €12,104 to €0
- Receivables within one year +€6,527
up €6,527 (+90.0%), from €7,255 to €13,783
of which Trade receivables: +€10,144
- Intangible fixed assets -€4,173
down €4,173 (-100%), from €4,173 to €0
- Profit (loss) carried forward +€10,816
up €10,816 (+27.0%), from -€40,108 to -€29,292
- Tax, wage and social debts +€6,736
new in 2025: €6,736
of which Taxes: +€4,986
- Other debts +€3,958
up €3,958 (+10.8%), from €36,540 to €40,498
- Trade debts +€1,221
up €1,221 (+50.6%), from €2,413 to €3,634
- Gross operating margin +€55,391
up €55,391, from -€23,677 to €31,714
- Staff costs -€10,122
down €10,122 (-100%), from €10,122 to €0
- Depreciation -€5,842
down €5,842 (-95.4%), from €6,126 to €284
- Write-downs +€3,586
new in 2025: €3,586
- Financial charges +€319
up €319 (+70.4%), from €452 to €771
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 | €28,845 | €51,576 | +€22,731 | +78.8% |
| Formation expenses | 20 | €923 | €638 | -€284 | -30.8% |
| Fixed assets | 21/28 | €16,277 | €0 | -€16,277 | -100% |
| Intangible fixed assets | 21 | €4,173 | €0 | -€4,173 | -100% |
| Tangible fixed assets | 22/27 | €12,104 | €0 | -€12,104 | -100% |
| Other tangible fixed assets | 26 | €12,104 | €0 | -€12,104 | -100% |
| Current assets | 29/58 | €11,646 | €50,937 | +€39,292 | +337% |
| Stocks and contracts in progress | 3 | €3,586 | €0 | -€3,586 | -100% |
| Stocks | 30/36 | €3,586 | €0 | -€3,586 | -100% |
| Amounts receivable within one year | 40/41 | €7,255 | €13,783 | +€6,527 | +90.0% |
| Trade receivables | 40 | - | €10,144 | +€10,144 | |
| Other amounts receivable | 41 | €7,255 | €3,638 | -€3,617 | -49.9% |
| Current investments | 50/53 | - | €13,172 | +€13,172 | |
| Cash at bank and in hand | 54/58 | €535 | €23,693 | +€23,157 | +4,327% |
| Deferred charges and accrued income | 490/1 | €269 | €290 | +€20 | +7.6% |
| Total equity and liabilities | 10/49 | €28,845 | €51,576 | +€22,731 | +78.8% |
| Equity | 10/15 | -€10,108 | €708 | +€10,816 | |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€40,108 | -€29,292 | +€10,816 | +27.0% |
| Amounts payable | 17/49 | €38,953 | €50,868 | +€11,915 | +30.6% |
| Amounts payable within one year | 42/48 | €38,953 | €50,868 | +€11,915 | +30.6% |
| Trade debts | 44 | €2,413 | €3,634 | +€1,221 | +50.6% |
| Suppliers | 440/4 | €2,413 | €3,634 | +€1,221 | +50.6% |
| Taxes, remuneration and social security | 45 | - | €6,736 | +€6,736 | |
| Taxes | 450/3 | - | €4,986 | +€4,986 | |
| Remuneration and social security | 454/9 | - | €1,750 | +€1,750 | |
| Other amounts payable | 47/48 | €36,540 | €40,498 | +€3,958 | +10.8% |
| Remuneration, social security and pensions | 62 | €10,122 | €0 | -€10,122 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,126 | €284 | -€5,842 | -95.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €3,586 | +€3,586 | |
| Other operating charges | 640/8 | - | €269 | +€269 | |
| Non-recurring operating charges | 66A | - | €16,277 | +€16,277 | |
| Gross operating margin | 9900 | -€23,677 | €31,714 | +€55,391 | |
| Operating profit (loss) | 9901 | -€39,925 | €11,297 | +€51,222 | |
| Financial income | 75/76B | €269 | €290 | +€20 | +7.5% |
| Recurring financial income | 75 | €269 | €290 | +€20 | +7.5% |
| Financial charges | 65/66B | €452 | €771 | +€319 | +70.4% |
| Recurring financial charges | 65 | €452 | €771 | +€319 | +70.4% |
| Profit (loss) for the period before taxes | 9903 | -€40,108 | €10,816 | +€50,924 | |
| Profit (loss) for the period | 9904 | -€40,108 | €10,816 | +€50,924 | |
| Profit (loss) for the period to be appropriated | 9905 | -€40,108 | €10,816 | +€50,924 |
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 29 October 2026 via checked.be.