Yarrow: 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.
Yarrow
Largest movements
- Cash +€197,844
up €197,844 (+1402.8%), from €14,104 to €211,947
mainly Contributions, distributions and other (+€349,333) and Receivables within one year (+€72,075)
- Intangible fixed assets +€86,885
up €86,885 (+140.6%), from €61,816 to €148,700
- Receivables within one year -€72,075
down €72,075 (-80.7%), from €89,333 to €17,258
of which Trade receivables: -€75,856
- Tangible fixed assets -€5,471
down €5,471 (-15.6%), from €35,085 to €29,614
of which Plant, machinery and equipment: -€4,381
- Contributions +€400,000
up €400,000 (+347.8%), from €115,000 to €515,000
- Profit (loss) carried forward -€135,178
down €135,178 (-444.5%), from -€30,411 to -€165,590
- Investment grants -€50,667
down €50,667 (-50.0%), from €101,333 to €50,667
- Trade debts -€7,202
down €7,202 (-40.4%), from €17,819 to €10,617
- Staff costs +€43,426
up €43,426 (+640.6%), from €6,779 to €50,205
- Depreciation +€31,520
up €31,520 (+136.5%), from €23,091 to €54,611
- Gross operating margin -€31,293
down €31,293, from €2,537 to -€28,755
- Other operating charges -€1,238
down €1,238 (-70.6%), from €1,754 to €516
- Financial income +€441
up €441 (+931.1%), from €47 to €488
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 | €203,861 | €411,185 | +€207,325 | +101.7% |
| Fixed assets | 21/28 | €98,989 | €180,069 | +€81,080 | +81.9% |
| Intangible fixed assets | 21 | €61,816 | €148,700 | +€86,885 | +140.6% |
| Tangible fixed assets | 22/27 | €35,085 | €29,614 | -€5,471 | -15.6% |
| Land and buildings | 22 | €10,770 | €9,680 | -€1,090 | -10.1% |
| Plant, machinery and equipment | 23 | €24,315 | €19,934 | -€4,381 | -18.0% |
| Financial fixed assets | 28 | €2,088 | €1,755 | -€333 | -16.0% |
| Current assets | 29/58 | €104,871 | €231,116 | +€126,245 | +120.4% |
| Amounts receivable within one year | 40/41 | €89,333 | €17,258 | -€72,075 | -80.7% |
| Trade receivables | 40 | €82,803 | €6,947 | -€75,856 | -91.6% |
| Other amounts receivable | 41 | €6,530 | €10,311 | +€3,782 | +57.9% |
| Cash at bank and in hand | 54/58 | €14,104 | €211,947 | +€197,844 | +1402.8% |
| Deferred charges and accrued income | 490/1 | €1,435 | €1,911 | +€476 | +33.2% |
| Total equity and liabilities | 10/49 | €203,861 | €411,185 | +€207,325 | +101.7% |
| Equity | 10/15 | €185,922 | €400,077 | +€214,155 | +115.2% |
| Contributions | 10/11 | €115,000 | €515,000 | +€400,000 | +347.8% |
| Profit (loss) carried forward | 14 | -€30,411 | -€165,590 | -€135,178 | -444.5% |
| Investment grants | 15 | €101,333 | €50,667 | -€50,667 | -50.0% |
| Amounts payable | 17/49 | €17,939 | €11,108 | -€6,830 | -38.1% |
| Amounts payable after more than one year | 17 | €120 | €491 | +€372 | +310.9% |
| Other amounts payable | 178/9 | €120 | €491 | +€372 | +310.9% |
| Amounts payable within one year | 42/48 | €17,819 | €10,617 | -€7,202 | -40.4% |
| Trade debts | 44 | €17,819 | €10,617 | -€7,202 | -40.4% |
| Suppliers | 440/4 | €17,819 | €10,617 | -€7,202 | -40.4% |
| Remuneration, social security and pensions | 62 | €6,779 | €50,205 | +€43,426 | +640.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,091 | €54,611 | +€31,520 | +136.5% |
| Other operating charges | 640/8 | €1,754 | €516 | -€1,238 | -70.6% |
| Gross operating margin | 9900 | €2,537 | -€28,755 | -€31,293 | |
| Operating profit (loss) | 9901 | -€29,087 | -€134,087 | -€105,000 | -361.0% |
| Financial income | 75/76B | €47 | €488 | +€441 | +931.1% |
| Recurring financial income | 75 | €47 | €488 | +€441 | +931.1% |
| Financial charges | 65/66B | €1,372 | €1,580 | +€208 | +15.2% |
| Recurring financial charges | 65 | €1,372 | €1,580 | +€208 | +15.2% |
| Profit (loss) for the period before taxes | 9903 | -€30,411 | -€135,178 | -€104,767 | -344.5% |
| Profit (loss) for the period | 9904 | -€30,411 | -€135,178 | -€104,767 | -344.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€30,411 | -€135,178 | -€104,767 | -344.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.