B.HIVE: 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.
B.HIVE
Largest movements
- Cash +€19,520
up €19,520 (+22.4%), from €87,149 to €106,670
mainly Net result for the year (+€30,663) and Depreciation (+€13,430)
- Tangible fixed assets -€10,424
down €10,424 (-11.7%), from €89,370 to €78,947
- Deferred charges and accrued income -€2,465
down €2,465 (-79.5%), from €3,100 to €635
- Stocks and contracts -€2,439
down €2,439 (-28.3%), from €8,631 to €6,191
- Reserves +€29,063
up €29,063 (+23.0%), from €126,534 to €155,597
- Trade debts -€13,582
down €13,582 (-88.7%), from €15,310 to €1,728
- Tax, wage and social debts -€10,055
down €10,055 (-46.6%), from €21,571 to €11,516
of which Taxes: -€10,055
- Gross operating margin -€5,327
down €5,327 (-8.7%), from €61,511 to €56,184
- Depreciation +€1,935
up €1,935 (+16.8%), from €11,495 to €13,430
- Financial charges +€1,325
up €1,325 (+152%), from €872 to €2,197
- Taxes -€701
down €701 (-7.2%), from €9,737 to €9,036
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 | €191,213 | €195,531 | +€4,319 | +2.3% |
| Fixed assets | 21/28 | €89,370 | €78,947 | -€10,424 | -11.7% |
| Tangible fixed assets | 22/27 | €89,370 | €78,947 | -€10,424 | -11.7% |
| Land and buildings | 22 | €10,997 | €9,680 | -€1,317 | -12.0% |
| Plant, machinery and equipment | 23 | €14,163 | €10,663 | -€3,500 | -24.7% |
| Furniture and vehicles | 24 | €14,408 | €11,699 | -€2,709 | -18.8% |
| Other tangible fixed assets | 26 | €49,803 | €46,905 | -€2,898 | -5.8% |
| Current assets | 29/58 | €101,842 | €116,585 | +€14,742 | +14.5% |
| Stocks and contracts in progress | 3 | €8,631 | €6,191 | -€2,439 | -28.3% |
| Stocks | 30/36 | €8,631 | €6,191 | -€2,439 | -28.3% |
| Amounts receivable within one year | 40/41 | €2,963 | €3,089 | +€126 | +4.2% |
| Trade receivables | 40 | €450 | - | -€450 | |
| Other amounts receivable | 41 | €2,513 | €3,089 | +€576 | +22.9% |
| Cash at bank and in hand | 54/58 | €87,149 | €106,670 | +€19,520 | +22.4% |
| Deferred charges and accrued income | 490/1 | €3,100 | €635 | -€2,465 | -79.5% |
| Total equity and liabilities | 10/49 | €191,213 | €195,531 | +€4,319 | +2.3% |
| Equity | 10/15 | €129,034 | €158,097 | +€29,063 | +22.5% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €126,534 | €155,597 | +€29,063 | +23.0% |
| Distributable reserves | 133 | €126,534 | €155,597 | +€29,063 | +23.0% |
| Amounts payable | 17/49 | €62,179 | €37,435 | -€24,744 | -39.8% |
| Amounts payable within one year | 42/48 | €61,879 | €36,639 | -€25,240 | -40.8% |
| Trade debts | 44 | €15,310 | €1,728 | -€13,582 | -88.7% |
| Suppliers | 440/4 | €15,310 | €1,728 | -€13,582 | -88.7% |
| Taxes, remuneration and social security | 45 | €21,571 | €11,516 | -€10,055 | -46.6% |
| Taxes | 450/3 | €18,071 | €8,016 | -€10,055 | -55.6% |
| Remuneration and social security | 454/9 | €3,500 | €3,500 | = | 0.0% |
| Other amounts payable | 47/48 | €24,998 | €23,395 | -€1,603 | -6.4% |
| Accrued charges and deferred income | 492/3 | €300 | €796 | +€496 | +165% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,495 | €13,430 | +€1,935 | +16.8% |
| Other operating charges | 640/8 | €904 | €857 | -€47 | -5.2% |
| Gross operating margin | 9900 | €61,511 | €56,184 | -€5,327 | -8.7% |
| Operating profit (loss) | 9901 | €49,112 | €41,896 | -€7,215 | -14.7% |
| Financial charges | 65/66B | €872 | €2,197 | +€1,325 | +152% |
| Recurring financial charges | 65 | €872 | €2,197 | +€1,325 | +152% |
| Profit (loss) for the period before taxes | 9903 | €48,239 | €39,699 | -€8,540 | -17.7% |
| Income taxes | 67/77 | €9,737 | €9,036 | -€701 | -7.2% |
| Profit (loss) for the period | 9904 | €38,502 | €30,663 | -€7,839 | -20.4% |
| Profit (loss) for the period to be appropriated | 9905 | €38,502 | €30,663 | -€7,839 | -20.4% |
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 26 October 2026 via checked.be.