YELLOWSTONE: 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.
What changed
YELLOWSTONE
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€132,762
2024 · €145,779-€13,016
Equity
€349,813
2024 · €217,051+€132,762
Cash
€1,331
2024 · €53,272-€51,940
Balance sheet total
€10.1m
2024 · €10.5m-€432,225
Largest movements
Assets
- Tangible fixed assets -€319,098
down €319,098 (-4.8%), from €6.6m to €6.3m
of which Leasing and similar rights: -€309,230
Equity and liabilities
- Debts after one year -€295,446
down €295,446 (-4.7%), from €6.3m to €6.0m
- Accrued charges and deferred income -€242,505
down €242,505 (-7.3%), from €3.3m to €3.1m
- Profit (loss) carried forward +€132,762
up €132,762 (+91.1%), from €145,779 to €278,541
- Tax, wage and social debts -€109,655
down €109,655 (-44.4%), from €247,192 to €137,537
Income statement
- Gross operating margin -€17,631
down €17,631 (-2.2%), from €788,706 to €771,075
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.
Result 2024
€145,779
Gross operating margin
-€17,631
Depreciation
-€1,158
Other operating charges
-€4,120
Financial income
-€9
Financial charges
+€3,589
Taxes
+€6,312
Result 2025
€132,762
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.
From operations
+€233,613
Investment
€0
Financing
-€285,553
Cash 2024
€53,272
From operations (derived)
+€233,613
Net result for the year
+€132,762
Depreciation
+€319,098
Receivables within one year
+€67,994
Deferred charges and accrued income
-€6,807
Provisions
+€50,000
Trade debts
-€2,274
Tax, wage and social debts
-€109,655
Other debts
+€25,000
Accrued charges and deferred income
-€242,505
Financing
-€285,553
Debts after one year
-€295,446
Current portion of long-term debt
+€9,893
Cash 2025
€1,331
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €10,529,904 | €10,097,678 | -€432,225 | -4.1% |
| Fixed assets | 21/28 | €6,597,979 | €6,278,881 | -€319,098 | -4.8% |
| Tangible fixed assets | 22/27 | €6,597,979 | €6,278,881 | -€319,098 | -4.8% |
| Land and buildings | 22 | €68,360 | €64,804 | -€3,556 | -5.2% |
| Furniture and vehicles | 24 | €25,233 | €18,920 | -€6,312 | -25.0% |
| Leasing and similar rights | 25 | €6,504,386 | €6,195,156 | -€309,230 | -4.8% |
| Current assets | 29/58 | €3,931,925 | €3,818,798 | -€113,127 | -2.9% |
| Amounts receivable after more than one year | 29 | €3,705,182 | €3,705,182 | = | 0.0% |
| Other amounts receivable | 291 | €3,705,182 | €3,705,182 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €173,471 | €105,477 | -€67,994 | -39.2% |
| Trade receivables | 40 | €41,882 | €104,962 | +€63,080 | +150.6% |
| Other amounts receivable | 41 | €131,589 | €515 | -€131,075 | -99.6% |
| Cash at bank and in hand | 54/58 | €53,272 | €1,331 | -€51,940 | -97.5% |
| Deferred charges and accrued income | 490/1 | - | €6,807 | +€6,807 | |
| Total equity and liabilities | 10/49 | €10,529,904 | €10,097,678 | -€432,225 | -4.1% |
| Equity | 10/15 | €217,051 | €349,813 | +€132,762 | +61.2% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €9,772 | €9,772 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €3,622 | €3,622 | = | 0.0% |
| Profit (loss) carried forward | 14 | €145,779 | €278,541 | +€132,762 | +91.1% |
| Provisions and deferred taxes | 16 | €29,968 | €79,968 | +€50,000 | +166.8% |
| Provisions for liabilities and charges | 160/5 | €29,968 | €79,968 | +€50,000 | +166.8% |
| Major repairs and maintenance | 162 | €29,968 | €79,968 | +€50,000 | +166.8% |
| Amounts payable | 17/49 | €10,282,884 | €9,667,897 | -€614,987 | -6.0% |
| Amounts payable after more than one year | 17 | €6,269,101 | €5,973,655 | -€295,446 | -4.7% |
| Financial debts | 170/4 | €6,269,101 | €5,973,655 | -€295,446 | -4.7% |
| Amounts payable within one year | 42/48 | €713,250 | €636,213 | -€77,036 | -10.8% |
| Current portion of amounts payable after more than one year | 42 | €285,553 | €295,446 | +€9,893 | +3.5% |
| Trade debts | 44 | €100,504 | €98,230 | -€2,274 | -2.3% |
| Suppliers | 440/4 | €100,504 | €98,230 | -€2,274 | -2.3% |
| Taxes, remuneration and social security | 45 | €247,192 | €137,537 | -€109,655 | -44.4% |
| Taxes | 450/3 | €247,192 | €137,537 | -€109,655 | -44.4% |
| Other amounts payable | 47/48 | €80,000 | €105,000 | +€25,000 | +31.3% |
| Accrued charges and deferred income | 492/3 | €3,300,534 | €3,058,028 | -€242,505 | -7.3% |
| Non-recurring operating income | 76A | €245,963 | €245,963 | -€0 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €317,940 | €319,098 | +€1,158 | +0.4% |
| Other operating charges | 640/8 | €40,430 | €44,550 | +€4,120 | +10.2% |
| Gross operating margin | 9900 | €788,706 | €771,075 | -€17,631 | -2.2% |
| Operating profit (loss) | 9901 | €430,336 | €407,428 | -€22,908 | -5.3% |
| Financial income | 75/76B | €9 | - | -€9 | |
| Recurring financial income | 75 | €9 | - | -€9 | |
| Financial charges | 65/66B | €229,910 | €226,321 | -€3,589 | -1.6% |
| Recurring financial charges | 65 | €229,910 | €226,321 | -€3,589 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | €200,436 | €181,107 | -€19,328 | -9.6% |
| Income taxes | 67/77 | €54,657 | €48,345 | -€6,312 | -11.5% |
| Profit (loss) for the period | 9904 | €145,779 | €132,762 | -€13,016 | -8.9% |
| Profit (loss) for the period to be appropriated | 9905 | €145,779 | €132,762 | -€13,016 | -8.9% |
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 5 October 2026 via checked.be.