Yellow Brick Road: 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.
Yellow Brick Road
Largest movements
- Cash -€23,680
down €23,680 (-42.7%), from €55,467 to €31,787
mainly Other debts (-€109,285) and Net result for the year (-€47,909)
- Tangible fixed assets -€18,613
down €18,613 (-19.3%), from €96,637 to €78,024
of which Furniture and vehicles: -€30,006
- Debts after one year +€125,000
new in 2025: €125,000
- Other debts -€109,285
down €109,285 (-89.7%), from €121,830 to €12,545
- Profit (loss) carried forward -€28,374
new in 2025: -€28,374
- Reserves -€19,535
no longer reported in 2025 (was €19,535)
- Trade debts -€4,335
down €4,335 (-80.6%), from €5,377 to €1,043
- Gross operating margin -€53,623
down €53,623 (-70.3%), from €76,310 to €22,686
- Depreciation +€14,959
up €14,959 (+46.6%), from €32,104 to €47,063
- Taxes -€6,586
down €6,586 (-99.6%), from €6,611 to €25
- Staff costs +€5,488
up €5,488 (+33.7%), from €16,261 to €21,749
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 | €167,494 | €127,133 | -€40,361 | -24.1% |
| Fixed assets | 21/28 | €96,637 | €78,024 | -€18,613 | -19.3% |
| Tangible fixed assets | 22/27 | €96,637 | €78,024 | -€18,613 | -19.3% |
| Plant, machinery and equipment | 23 | €7,939 | €19,333 | +€11,393 | +144% |
| Furniture and vehicles | 24 | €88,698 | €58,692 | -€30,006 | -33.8% |
| Current assets | 29/58 | €70,857 | €49,108 | -€21,748 | -30.7% |
| Stocks and contracts in progress | 3 | €3,958 | €4,127 | +€168 | +4.2% |
| Stocks | 30/36 | €3,958 | €4,127 | +€168 | +4.2% |
| Amounts receivable within one year | 40/41 | €10,127 | €10,485 | +€358 | +3.5% |
| Trade receivables | 40 | €10,127 | €1,356 | -€8,771 | -86.6% |
| Other amounts receivable | 41 | - | €9,129 | +€9,129 | |
| Cash at bank and in hand | 54/58 | €55,467 | €31,787 | -€23,680 | -42.7% |
| Deferred charges and accrued income | 490/1 | €1,304 | €2,710 | +€1,406 | +108% |
| Total equity and liabilities | 10/49 | €167,494 | €127,133 | -€40,361 | -24.1% |
| Equity | 10/15 | €27,035 | -€20,874 | -€47,909 | |
| Contributions | 10/11 | €7,500 | €7,500 | = | 0.0% |
| Reserves | 13 | €19,535 | - | -€19,535 | |
| Distributable reserves | 133 | €19,535 | - | -€19,535 | |
| Profit (loss) carried forward | 14 | - | -€28,374 | -€28,374 | |
| Amounts payable | 17/49 | €140,459 | €148,007 | +€7,547 | +5.4% |
| Amounts payable after more than one year | 17 | - | €125,000 | +€125,000 | |
| Financial debts | 170/4 | - | €125,000 | +€125,000 | |
| Amounts payable within one year | 42/48 | €138,409 | €23,007 | -€115,403 | -83.4% |
| Trade debts | 44 | €5,377 | €1,043 | -€4,335 | -80.6% |
| Suppliers | 440/4 | €5,377 | €1,043 | -€4,335 | -80.6% |
| Advances received on contracts in progress | 46 | €850 | €2,000 | +€1,150 | +135% |
| Taxes, remuneration and social security | 45 | €10,352 | €7,419 | -€2,933 | -28.3% |
| Taxes | 450/3 | €9,722 | €6,642 | -€3,080 | -31.7% |
| Remuneration and social security | 454/9 | €630 | €777 | +€147 | +23.3% |
| Other amounts payable | 47/48 | €121,830 | €12,545 | -€109,285 | -89.7% |
| Accrued charges and deferred income | 492/3 | €2,050 | - | -€2,050 | |
| Remuneration, social security and pensions | 62 | €16,261 | €21,749 | +€5,488 | +33.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,104 | €47,063 | +€14,959 | +46.6% |
| Other operating charges | 640/8 | €1,129 | €1,485 | +€356 | +31.6% |
| Gross operating margin | 9900 | €76,310 | €22,686 | -€53,623 | -70.3% |
| Operating profit (loss) | 9901 | €26,816 | -€47,610 | -€74,427 | |
| Financial income | 75/76B | €310 | €201 | -€109 | -35.2% |
| Recurring financial income | 75 | €310 | €201 | -€109 | -35.2% |
| Financial charges | 65/66B | €88 | €474 | +€386 | +438% |
| Recurring financial charges | 65 | €88 | €474 | +€386 | +438% |
| Profit (loss) for the period before taxes | 9903 | €27,038 | -€47,884 | -€74,922 | |
| Income taxes | 67/77 | €6,611 | €25 | -€6,586 | -99.6% |
| Profit (loss) for the period | 9904 | €20,427 | -€47,909 | -€68,336 | |
| Profit (loss) for the period to be appropriated | 9905 | €20,427 | -€47,909 | -€68,336 |
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 1 November 2026 via checked.be.