HIVAN: 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.
HIVAN
Largest movements
- Current investments +€956,112
up €956,112 (+104.0%), from €919,683 to €1.9m
- Cash -€646,922
down €646,922 (-81.5%), from €793,684 to €146,762
mainly Current investments (-€956,112) and Trade debts (-€3,637)
- Reserves +€269,256
up €269,256 (+17.8%), from €1.5m to €1.8m
- Tax, wage and social debts +€26,586
up €26,586 (+72.5%), from €36,646 to €63,232
- Gross operating margin -€237,196
down €237,196 (-36.2%), from €654,734 to €417,538
- Taxes -€77,887
down €77,887 (-36.6%), from €212,972 to €135,086
- Financial income -€36,553
down €36,553 (-42.9%), from €85,229 to €48,677
- Financial charges +€30,864
up €30,864 (+326.4%), from €9,456 to €40,320
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 | €1,743,204 | €2,036,209 | +€293,005 | +16.8% |
| Fixed assets | 21/28 | €25,955 | €10,471 | -€15,484 | -59.7% |
| Tangible fixed assets | 22/27 | €25,955 | €10,471 | -€15,484 | -59.7% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €19 | €1,833 | +€1,814 | +9495.0% |
| Furniture and vehicles | 24 | €25,936 | €8,638 | -€17,298 | -66.7% |
| Current assets | 29/58 | €1,717,249 | €2,025,738 | +€308,489 | +18.0% |
| Amounts receivable within one year | 40/41 | €2,544 | €1,798 | -€746 | -29.3% |
| Trade receivables | 40 | €2,544 | €1,798 | -€746 | -29.3% |
| Current investments | 50/53 | €919,683 | €1,875,795 | +€956,112 | +104.0% |
| Cash at bank and in hand | 54/58 | €793,684 | €146,762 | -€646,922 | -81.5% |
| Deferred charges and accrued income | 490/1 | €1,339 | €1,384 | +€45 | +3.4% |
| Total equity and liabilities | 10/49 | €1,743,204 | €2,036,209 | +€293,005 | +16.8% |
| Equity | 10/15 | €1,631,824 | €1,901,080 | +€269,256 | +16.5% |
| Contributions | 10/11 | €115,190 | €115,190 | = | 0.0% |
| Reserves | 13 | €1,516,634 | €1,785,890 | +€269,256 | +17.8% |
| Distributable reserves | 133 | €1,516,634 | €1,785,890 | +€269,256 | +17.8% |
| Amounts payable | 17/49 | €111,380 | €135,128 | +€23,748 | +21.3% |
| Amounts payable within one year | 42/48 | €104,729 | €129,132 | +€24,403 | +23.3% |
| Trade debts | 44 | €5,308 | €1,671 | -€3,637 | -68.5% |
| Suppliers | 440/4 | €5,308 | €1,671 | -€3,637 | -68.5% |
| Taxes, remuneration and social security | 45 | €36,646 | €63,232 | +€26,586 | +72.5% |
| Taxes | 450/3 | €36,646 | €63,232 | +€26,586 | +72.5% |
| Other amounts payable | 47/48 | €62,775 | €64,229 | +€1,455 | +2.3% |
| Accrued charges and deferred income | 492/3 | €6,651 | €5,996 | -€655 | -9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,986 | €17,699 | +€4,713 | +36.3% |
| Other operating charges | 640/8 | €4,936 | €3,853 | -€1,082 | -21.9% |
| Gross operating margin | 9900 | €654,734 | €417,538 | -€237,196 | -36.2% |
| Operating profit (loss) | 9901 | €636,812 | €395,985 | -€240,827 | -37.8% |
| Financial income | 75/76B | €85,229 | €48,677 | -€36,553 | -42.9% |
| Recurring financial income | 75 | €85,229 | €48,677 | -€36,553 | -42.9% |
| Financial charges | 65/66B | €9,456 | €40,320 | +€30,864 | +326.4% |
| Recurring financial charges | 65 | €9,456 | €40,320 | +€30,864 | +326.4% |
| Profit (loss) for the period before taxes | 9903 | €712,586 | €404,342 | -€308,244 | -43.3% |
| Income taxes | 67/77 | €212,972 | €135,086 | -€77,887 | -36.6% |
| Profit (loss) for the period | 9904 | €499,613 | €269,256 | -€230,357 | -46.1% |
| Profit (loss) for the period to be appropriated | 9905 | €499,613 | €269,256 | -€230,357 | -46.1% |
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 6 October 2026 via checked.be.