BLUEHIVE: 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.
BLUEHIVE
Largest movements
- Cash +€70,612
up €70,612 (+188.3%), from €37,499 to €108,111
mainly Net result for the year (+€88,230) and Other debts (+€33,002)
- Receivables within one year +€40,665
up €40,665 (+275.9%), from €14,741 to €55,406
of which Trade receivables: +€40,731
- Current investments +€8,600
new in 2025: €8,600
- Deferred charges and accrued income -€3,918
down €3,918 (-58.5%), from €6,695 to €2,777
- Profit (loss) carried forward +€80,230
up €80,230 (+78.0%), from -€102,831 to -€22,601
- Other debts +€33,002
up €33,002 (+29.0%), from €113,993 to €146,995
- Tax, wage and social debts +€9,107
up €9,107 (+185.3%), from €4,914 to €14,020
- Trade debts -€6,178
down €6,178 (-34.3%), from €17,989 to €11,811
- Gross operating margin +€56,952
up €56,952 (+121.3%), from €46,962 to €103,913
- Taxes +€4,461
up €4,461 (+1554.1%), from €287 to €4,748
- Depreciation +€1,764
up €1,764 (+62.8%), from €2,809 to €4,573
- Other operating charges -€1,679
down €1,679 (-37.3%), from €4,502 to €2,823
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 | €75,625 | €190,820 | +€115,196 | +152.3% |
| Fixed assets | 21/28 | €16,690 | €15,926 | -€764 | -4.6% |
| Tangible fixed assets | 22/27 | €16,650 | €15,886 | -€764 | -4.6% |
| Plant, machinery and equipment | 23 | €16,134 | €15,886 | -€248 | -1.5% |
| Furniture and vehicles | 24 | €515 | €0 | -€515 | -100.0% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €58,935 | €174,894 | +€115,960 | +196.8% |
| Amounts receivable within one year | 40/41 | €14,741 | €55,406 | +€40,665 | +275.9% |
| Trade receivables | 40 | €14,675 | €55,406 | +€40,731 | +277.6% |
| Other amounts receivable | 41 | €66 | €0 | -€66 | -100.0% |
| Current investments | 50/53 | - | €8,600 | +€8,600 | |
| Cash at bank and in hand | 54/58 | €37,499 | €108,111 | +€70,612 | +188.3% |
| Deferred charges and accrued income | 490/1 | €6,695 | €2,777 | -€3,918 | -58.5% |
| Total equity and liabilities | 10/49 | €75,625 | €190,820 | +€115,196 | +152.3% |
| Equity | 10/15 | -€63,210 | €17,019 | +€80,230 | |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €27,220 | €27,220 | = | 0.0% |
| Distributable reserves | 133 | €27,220 | €27,220 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€102,831 | -€22,601 | +€80,230 | +78.0% |
| Amounts payable | 17/49 | €138,835 | €173,801 | +€34,966 | +25.2% |
| Amounts payable within one year | 42/48 | €137,818 | €172,923 | +€35,105 | +25.5% |
| Financial debts | 43 | €923 | €97 | -€826 | -89.5% |
| Credit institutions | 430/8 | €923 | €97 | -€826 | -89.5% |
| Trade debts | 44 | €17,989 | €11,811 | -€6,178 | -34.3% |
| Suppliers | 440/4 | €17,989 | €11,811 | -€6,178 | -34.3% |
| Taxes, remuneration and social security | 45 | €4,914 | €14,020 | +€9,107 | +185.3% |
| Taxes | 450/3 | €4,914 | €14,020 | +€9,107 | +185.3% |
| Other amounts payable | 47/48 | €113,993 | €146,995 | +€33,002 | +29.0% |
| Accrued charges and deferred income | 492/3 | €1,017 | €878 | -€139 | -13.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,809 | €4,573 | +€1,764 | +62.8% |
| Other operating charges | 640/8 | €4,502 | €2,823 | -€1,679 | -37.3% |
| Gross operating margin | 9900 | €46,962 | €103,913 | +€56,952 | +121.3% |
| Operating profit (loss) | 9901 | €39,650 | €96,517 | +€56,867 | +143.4% |
| Financial income | 75/76B | €0 | €12 | +€12 | |
| Recurring financial income | 75 | €0 | €12 | +€12 | |
| Financial charges | 65/66B | €4,409 | €3,551 | -€858 | -19.5% |
| Recurring financial charges | 65 | €4,409 | €3,551 | -€858 | -19.5% |
| Profit (loss) for the period before taxes | 9903 | €35,241 | €92,978 | +€57,737 | +163.8% |
| Income taxes | 67/77 | €287 | €4,748 | +€4,461 | +1554.1% |
| Profit (loss) for the period | 9904 | €34,954 | €88,230 | +€53,276 | +152.4% |
| Profit (loss) for the period to be appropriated | 9905 | €34,954 | €88,230 | +€53,276 | +152.4% |
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 3 October 2026 via checked.be.