YELLOW ROSE: 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.
YELLOW ROSE
Largest movements
- Tangible fixed assets +€5.0m
up €5.0m (+118.2%), from €4.2m to €9.2m
- Revaluation surpluses +€5.1m
up €5.1m (+897.6%), from €572,040 to €5.7m
- Short-term financial debts -€186,667
down €186,667 (-8.0%), from €2.3m to €2.1m
- Reserves +€103,957
up €103,957 (+125.0%), from €83,156 to €187,113
- Other debts -€102,500
down €102,500 (-5.3%), from €1.9m to €1.8m
- Gross operating margin -€148,849
down €148,849 (-28.8%), from €516,205 to €367,356
- Financial charges -€44,099
down €44,099 (-33.6%), from €131,114 to €87,015
- Taxes +€7,037
up €7,037 (+25.5%), from €27,616 to €34,652
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 | €4,947,081 | €9,900,768 | +€5.0m | +100.1% |
| Fixed assets | 21/28 | €4,228,506 | €9,228,000 | +€5.0m | +118.2% |
| Tangible fixed assets | 22/27 | €4,228,506 | €9,228,000 | +€5.0m | +118.2% |
| Land and buildings | 22 | €4,228,506 | €9,228,000 | +€5.0m | +118.2% |
| Current assets | 29/58 | €718,575 | €672,768 | -€45,807 | -6.4% |
| Amounts receivable within one year | 40/41 | €710,201 | €672,120 | -€38,080 | -5.4% |
| Trade receivables | 40 | €13,275 | €16,847 | +€3,572 | +26.9% |
| Other amounts receivable | 41 | €696,926 | €655,273 | -€41,652 | -6.0% |
| Cash at bank and in hand | 54/58 | €4,040 | €648 | -€3,392 | -84.0% |
| Deferred charges and accrued income | 490/1 | €4,335 | €0 | -€4,335 | -100.0% |
| Total equity and liabilities | 10/49 | €4,947,081 | €9,900,768 | +€5.0m | +100.1% |
| Equity | 10/15 | €661,396 | €5,899,837 | +€5.2m | +792.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Revaluation surpluses | 12 | €572,040 | €5,706,524 | +€5.1m | +897.6% |
| Reserves | 13 | €83,156 | €187,113 | +€103,957 | +125.0% |
| Distributable reserves | 133 | €83,156 | €187,113 | +€103,957 | +125.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €4,285,685 | €4,000,931 | -€284,754 | -6.6% |
| Amounts payable within one year | 42/48 | €4,279,085 | €3,994,117 | -€284,968 | -6.7% |
| Financial debts | 43 | €2,333,333 | €2,146,667 | -€186,667 | -8.0% |
| Credit institutions | 430/8 | €2,333,333 | €2,146,667 | -€186,667 | -8.0% |
| Trade debts | 44 | €1,295 | €5,529 | +€4,234 | +327.0% |
| Suppliers | 440/4 | €1,295 | €5,529 | +€4,234 | +327.0% |
| Taxes, remuneration and social security | 45 | €1,437 | €1,401 | -€36 | -2.5% |
| Taxes | 450/3 | €1,437 | €1,401 | -€36 | -2.5% |
| Other amounts payable | 47/48 | €1,943,020 | €1,840,520 | -€102,500 | -5.3% |
| Accrued charges and deferred income | 492/3 | €6,600 | €6,814 | +€214 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €139,555 | €139,740 | +€185 | +0.1% |
| Other operating charges | 640/8 | €1,017 | €1,991 | +€974 | +95.8% |
| Gross operating margin | 9900 | €516,205 | €367,356 | -€148,849 | -28.8% |
| Operating profit (loss) | 9901 | €375,633 | €225,625 | -€150,008 | -39.9% |
| Financial charges | 65/66B | €131,114 | €87,015 | -€44,099 | -33.6% |
| Recurring financial charges | 65 | €131,114 | €87,015 | -€44,099 | -33.6% |
| Profit (loss) for the period before taxes | 9903 | €244,519 | €138,610 | -€105,909 | -43.3% |
| Income taxes | 67/77 | €27,616 | €34,652 | +€7,037 | +25.5% |
| Profit (loss) for the period | 9904 | €216,903 | €103,957 | -€112,945 | -52.1% |
| Profit (loss) for the period to be appropriated | 9905 | €216,903 | €103,957 | -€112,945 | -52.1% |
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 4 October 2026 via checked.be.