ACTIVE

YELLOWSTONE

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Financial year 2025 · closed on 31/12/2025

Net result

132,8 k €

-8.9% YoY

Gross margin

771,1 k €

-2.2% YoY

Equity

349,8 k €

+61.2% YoY

What does YELLOWSTONE do?

YELLOWSTONE is a Public limited company incorporated in 1986. Its main activity is: Rental and operating of own or leased real estate. Its registered office is in Aalst.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0429.291.514

Incorporation

30/06/1986

Legal form

Public limited company

Registered office

Industrielaan 17A
9320 Aalst · FlandreSee on map

Contributed capital

61 500,00 €

Latest accounts

31/12/2025

Activities (NACE)

68203Rental and operating of own or leased real estate· main 68203Rental and operating of own or leased real estate 35140Trade of electricity 35150Electric power generation, transmission and distribution

Signals

ProfitableLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	771,1 k €	-2.2%	788,7 k €	+29.6%	608,5 k €	+24.6%	488,4 k €	+4.4%	467,8 k €	+32.3%	353,4 k €	-34.5%	539,5 k €	-11.4%	609,2 k €	+74.8%	348,5 k €	-35.6%	541,6 k €		–		–		–		–		–		–		–		–		–		–
EBITDA	726,5 k €	-2.9%	748,3 k €	+36.1%	549,9 k €	+30.7%	420,7 k €	+1.8%	413,3 k €	+76.5%	234,1 k €	-54.4%	513 k €	-10.6%	573,9 k €	+30.6%	439,5 k €	-14.3%	512,6 k €	+46.7%	349,4 k €	-8.0%	379,6 k €	+2.3%	371,1 k €	+179%	133,1 k €	-70.1%	444,7 k €	+113%	208,7 k €	+105%	101,6 k €	-46.1%	188,6 k €	+92.6%	97,9 k €	+2.2%	95,8 k €
Operating result	407,4 k €	-5.3%	430,3 k €	+29.6%	332,1 k €	+12.7%	294,6 k €	-8.7%	322,5 k €	+126%	142,8 k €	-66.1%	421,6 k €	-12.6%	482,6 k €	+38.6%	348,3 k €	-17.4%	421,9 k €	+62.8%	259,2 k €	-10.6%	289,9 k €	+3.0%	281,4 k €	+257%	78,8 k €	-78.5%	366,3 k €	+155%	143,7 k €	+277%	38,1 k €	-69.6%	125,1 k €	+264%	34,4 k €	-19.6%	42,8 k €
Net result	132,8 k €	-8.9%	145,8 k €	-2.5%	149,5 k €	-11.3%	168,6 k €	-33.0%	251,4 k €	+243%	73,2 k €	-72.5%	265,9 k €	-8.7%	291,4 k €	+28.8%	226,2 k €	-19.1%	279,7 k €	+72.1%	162,5 k €	-15.4%	192,1 k €	+365%	41,3 k €	-48.3%	79,9 k €	-64.8%	226,7 k €	+110%	108 k €	+56.0%	69,3 k €	-94.0%	1,2 M €	+2018%	55 k €	+20.1%	45,8 k €
Balance sheet
Equity	349,8 k €	+61.2%	217,1 k €	-96.6%	6,3 M €	-13.8%	7,3 M €	+2.4%	7,1 M €	+3.7%	6,9 M €	+1.1%	6,8 M €	+18.6%	5,7 M €	+5.3%	5,5 M €	+4.3%	5,2 M €	+5.7%	4,9 M €	+12.2%	4,4 M €	+4.6%	4,2 M €	+1.0%	4,2 M €	+2.0%	4,1 M €	+5.9%	3,9 M €	+2.9%	3,8 M €	+1.9%	3,7 M €	+41.5%	2,6 M €	+2.2%	2,6 M €
Total assets	10,1 M €	-4.1%	10,5 M €	-39.1%	17,3 M €	+96.3%	8,8 M €	-23.9%	11,6 M €	+24.3%	9,3 M €	-3.0%	9,6 M €	+26.6%	7,6 M €	+15.6%	6,6 M €	-2.1%	6,7 M €	-0.2%	6,7 M €	+0.7%	6,7 M €	-5.8%	7,1 M €	-1.1%	7,2 M €	+24.8%	5,7 M €	+22.5%	4,7 M €	+7.3%	4,4 M €	+0.4%	4,3 M €	+65.2%	2,6 M €	-5.8%	2,8 M €
Cash	1,3 k €	-97.5%	53,3 k €	-0.8%	53,7 k €	-76.8%	231,8 k €	+183%	81,9 k €	+23.1%	66,5 k €	-86.4%	490,1 k €	+423%	93,8 k €	+326%	22 k €	-88.3%	187,7 k €	+755%	22 k €	-89.0%	200,1 k €	+64.4%	121,7 k €	+578%	17,9 k €		–		–		–		–		–		22,8 €
Debts	6,6 M €	-5.3%	7 M €	-6.0%	7,4 M €	+509%	1,2 M €	-69.4%	4 M €	+107%	1,9 M €	-19.0%	2,4 M €	+75.9%	1,4 M €	+199%	453,3 k €	-36.3%	711,6 k €	-33.9%	1,1 M €	-30.2%	1,5 M €	-22.8%	2 M €	-10.4%	2,2 M €	+158%	865,3 k €	+1498%	54,1 k €	-35.1%	83,4 k €	-2.0%	85,1 k €	+320%	20,3 k €	-91.4%	236 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 47 ended

Active mandates

Thibault Jonnaert

Managing director · since 10 novembre 2023 · until 13 juin 2028

Active

Jean-Paul JONNAERT

Director · since 14 juin 2022 · until 13 juin 2028

Active

Ended mandates

Thibault JONNAERT

Managing director · since 10 mars 2022 · until 13 juin 2028

Ended

JERRO

Managing director · since 12 octobre 2020 · until 10 mars 2022 · 0450.355.558

Represented by Joris LOBELLE

Ended

LEMCO

Director · since 12 octobre 2020 · until 10 mars 2022 · 0417.543.428

Represented by Luc Coppens

Ended

Mieke PELGRIMS

Director · since 12 octobre 2020 · until 10 mars 2022

Ended

At this address

Other companies at this address

Company	CBE no.
PELGRIMO● Active	1004.884.861

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	27/08/2026	28/08/2025	24/02/2025	29/08/2023	27/06/2022	27/06/2022
General meeting	09/06/2026	28/08/2025	23/12/2024	30/06/2023	14/06/2022	14/06/2022
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	09/06/2026	27/08/2026	Dutch	PDF
Abridged model	31/12/2024	28/08/2025	28/08/2025	Dutch	PDF
Abridged model	31/12/2023	23/12/2024	24/02/2025	Dutch	PDF
Abridged model	31/12/2022	30/06/2023	29/08/2023	Dutch	PDF
Abridged model	31/12/2021	14/06/2022	27/06/2022	Dutch	PDF
Abridged model	31/12/2020	14/06/2022	27/06/2022	Dutch	PDF
Abridged model	31/12/2019	12/10/2020	15/10/2020	Dutch	PDF
Abridged model	31/12/2018	02/09/2019	25/10/2019	Dutch	PDF
Abridged model	31/12/2017	02/09/2019	25/10/2019	Dutch	PDF
Abridged model	31/12/2016	13/06/2017	03/08/2017	Dutch	PDF
Full model	31/12/2015	06/06/2016	30/09/2016	Dutch	PDF
Full model	31/12/2014	21/09/2015	29/09/2015	Dutch	PDF
Full model	31/12/2013	12/09/2014	29/09/2014	Dutch	PDF
Full model	31/12/2012	29/08/2013	30/08/2013	Dutch	PDF
Full model	31/12/2011	03/07/2012	18/09/2012	Dutch	PDF
Full model	31/12/2010	14/06/2011	28/07/2011	Dutch	PDF
Full model	31/12/2009	24/06/2010	13/07/2010	Dutch	PDF
Full model	31/12/2008	22/06/2009	30/06/2009	Dutch	PDF
Full model	31/12/2007	30/09/2008	21/10/2008	Dutch	PDF
Full model	31/12/2006	28/06/2007	20/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 47 ended

Active mandates

Thibault Jonnaert

Managing director · since 10 novembre 2023 · until 13 juin 2028

Active

Jean-Paul JONNAERT

Director · since 14 juin 2022 · until 13 juin 2028

Active

Ended mandates

Thibault JONNAERT

Managing director · since 10 mars 2022 · until 13 juin 2028

Ended

JERRO

Managing director · since 12 octobre 2020 · until 10 mars 2022 · 0450.355.558

Represented by Joris LOBELLE

Ended

LEMCO

Director · since 12 octobre 2020 · until 10 mars 2022 · 0417.543.428

Represented by Luc Coppens

Ended

Mieke PELGRIMS

Director · since 12 octobre 2020 · until 10 mars 2022

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Capital / shares20/01/2025
KAPITAAL - AANDELEN
PDF
Mandates29/01/2024
BENAMING - KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Restructuring23/11/2023
ONTSLAGEN - BENOEMINGEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates06/10/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates31/03/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/11/2020
ONTSLAGEN - BENOEMINGEN
PDF
Mandates06/01/2020
KAPITAAL - AANDELEN - ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates02/12/2019
ONTSLAGEN - BENOEMINGEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025132,8 k €↓
2024
Annual accounts 2024145,8 k €↓
2023
Annual accounts 2023149,5 k €↓
2023
Name changeYellowstone
2022
Annual accounts 2022168,6 k €↓
2021
Annual accounts 2021251,4 k €↑
2020
Annual accounts 202073,2 k €↓
2020
Name changePELGRIMO
2019
Annual accounts 2019265,9 k €↓
2018
Annual accounts 2018291,4 k €↑
2017
Annual accounts 2017226,2 k €↓
2016
Annual accounts 2016279,7 k €↑
2015
Annual accounts 2015162,5 k €↓
2014
Annual accounts 2014192,1 k €↑
2013
Annual accounts 201341,3 k €↓
2012
Annual accounts 201279,9 k €↓
2011
Annual accounts 2011226,7 k €↑
2010
Annual accounts 2010108 k €↑
2009
Annual accounts 200969,3 k €↓
2008
Annual accounts 20081,2 M €↑
2007
Annual accounts 200755 k €↑
2006
Annual accounts 200645,8 k €
30/06/1986
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

YELLOWSTONE

Overview

What does YELLOWSTONE do?

Trend over 20 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline