HIVE-5: 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
HIVE-5
NACE 66.199, Other activities auxiliary to financial services, excluding insurance and pension funding
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€254,335
2024 · €4,961-€259,297
Equity
€2.5m
2024 · €2.8m-€254,335
Cash
€144,661
2024 · €436,463-€291,803
Balance sheet total
€15.4m
2024 · €12.5m+€2.9m
Largest movements
Assets
- Receivables within one year +€3.6m
up €3.6m (+340.0%), from €1.1m to €4.7m
of which Other amounts receivable: +€2.0m
- Financial fixed assets -€499,357
down €499,357 (-5.3%), from €9.4m to €8.9m
- Cash -€291,803
down €291,803 (-66.9%), from €436,463 to €144,661
mainly Receivables within one year (-€3.6m) and Debts after one year (-€905,074)
Equity and liabilities
- Short-term financial debts +€4.5m
up €4.5m (+148.4%), from €3.0m to €7.6m
of which Other loans: +€7.3m
- Debts after one year -€905,074
down €905,074 (-19.3%), from €4.7m to €3.8m
- Other debts -€564,857
down €564,857 (-78.5%), from €719,281 to €154,424
- Current portion of long-term debt -€278,446
down €278,446 (-25.0%), from €1.1m to €833,298
- Profit (loss) carried forward -€254,335
down €254,335 (-12.1%), from €2.1m to €1.9m
Income statement
- Turnover +€1.5m
up €1.5m (+101.8%), from €1.5m to €3.0m
- Financial charges +€754,257
up €754,257 (+51.5%), from €1.5m to €2.2m
of which Non-recurring financial charges: +€508,909
- Other operating income -€582,990
down €582,990 (-97.7%), from €596,679 to €13,689
- Taxes +€210,500
up €210,500 (+140333180.0%), from €0 to €210,500
- Services and other goods +€198,703
up €198,703 (+15.5%), from €1.3m to €1.5m
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
€4,961
Turnover
+€1.5m
Other operating income
-€582,990
Services and other goods
-€198,703
Staff costs
+€68,255
Depreciation
-€525
Other operating charges
-€1,952
Other operating items
-€14,203
Financial income
-€97,061
Financial charges
-€754,257
Taxes
-€210,500
Result 2025
-€254,335
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
-€4.1m
Investment
+€472,837
Financing
+€3.3m
Cash 2024
€436,463
From operations (derived)
-€4.1m
Net result for the year
-€254,335
Depreciation
+€2,851
Receivables within one year
-€3.6m
Deferred charges and accrued income
-€4,665
Trade debts
-€27,188
Tax, wage and social debts
+€192,113
Other debts
-€564,857
Accrued charges and deferred income
+€200,000
Investment (derived)
+€472,837
Investment in fixed assets (net)
+€472,837
Financing
+€3.3m
Debts after one year
-€905,074
Current portion of long-term debt
-€278,446
Short-term financial debts
+€4.5m
Cash 2025
€144,661
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,472,824 | €15,353,640 | +€2.9m | +23.1% |
| Fixed assets | 21/28 | €9,417,557 | €8,941,868 | -€475,689 | -5.1% |
| Intangible fixed assets | 21 | - | €22,581 | +€22,581 | |
| Tangible fixed assets | 22/27 | €3,151 | €4,239 | +€1,087 | +34.5% |
| Furniture and vehicles | 24 | €3,151 | €3,719 | +€568 | +18.0% |
| Other tangible fixed assets | 26 | - | €520 | +€520 | |
| Financial fixed assets | 28 | €9,414,405 | €8,915,049 | -€499,357 | -5.3% |
| Affiliated companies | 280/1 | €9,414,405 | €8,915,049 | -€499,357 | -5.3% |
| Participating interests | 280 | €9,414,405 | €8,915,049 | -€499,357 | -5.3% |
| Current assets | 29/58 | €3,055,267 | €6,411,771 | +€3.4m | +109.9% |
| Amounts receivable after more than one year | 29 | €1,500,000 | €1,500,000 | = | 0.0% |
| Other amounts receivable | 291 | €1,500,000 | €1,500,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,071,617 | €4,715,259 | +€3.6m | +340.0% |
| Trade receivables | 40 | €149,480 | €1,783,346 | +€1.6m | +1093.0% |
| Other amounts receivable | 41 | €922,137 | €2,931,913 | +€2.0m | +217.9% |
| Cash at bank and in hand | 54/58 | €436,463 | €144,661 | -€291,803 | -66.9% |
| Deferred charges and accrued income | 490/1 | €47,187 | €51,852 | +€4,665 | +9.9% |
| Total equity and liabilities | 10/49 | €12,472,824 | €15,353,640 | +€2.9m | +23.1% |
| Equity | 10/15 | €2,757,942 | €2,503,607 | -€254,335 | -9.2% |
| Contributions | 10/11 | €650,000 | €650,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,107,942 | €1,853,607 | -€254,335 | -12.1% |
| Amounts payable | 17/49 | €9,714,881 | €12,850,033 | +€3.1m | +32.3% |
| Amounts payable after more than one year | 17 | €4,682,074 | €3,777,000 | -€905,074 | -19.3% |
| Financial debts | 170/4 | €4,682,074 | €3,777,000 | -€905,074 | -19.3% |
| Subordinated loans | 170 | €2,136,718 | €2,064,943 | -€71,776 | -3.4% |
| Credit institutions | 173 | €2,545,356 | €1,712,057 | -€833,298 | -32.7% |
| Amounts payable within one year | 42/48 | €5,032,808 | €8,873,033 | +€3.8m | +76.3% |
| Current portion of amounts payable after more than one year | 42 | €1,111,745 | €833,298 | -€278,446 | -25.0% |
| Financial debts | 43 | €3,045,243 | €7,563,846 | +€4.5m | +148.4% |
| Credit institutions | 430/8 | €3,045,243 | €291,787 | -€2.8m | -90.4% |
| Other loans | 439 | - | €7,272,059 | +€7.3m | |
| Trade debts | 44 | €67,574 | €40,386 | -€27,188 | -40.2% |
| Suppliers | 440/4 | €67,574 | €40,386 | -€27,188 | -40.2% |
| Taxes, remuneration and social security | 45 | €88,966 | €281,078 | +€192,113 | +215.9% |
| Taxes | 450/3 | €13,875 | €246,384 | +€232,509 | +1675.7% |
| Remuneration and social security | 454/9 | €75,090 | €34,694 | -€40,396 | -53.8% |
| Other amounts payable | 47/48 | €719,281 | €154,424 | -€564,857 | -78.5% |
| Accrued charges and deferred income | 492/3 | - | €200,000 | +€200,000 | |
| Operating income | 70/76A | €2,116,009 | €3,051,455 | +€935,446 | +44.2% |
| Turnover | 70 | €1,505,127 | €3,037,767 | +€1.5m | +101.8% |
| Other operating income | 74 | €596,679 | €13,689 | -€582,990 | -97.7% |
| Non-recurring operating income | 76A | €14,203 | - | -€14,203 | |
| Operating charges | 60/66A | €1,676,390 | €1,809,314 | +€132,925 | +7.9% |
| Services and other goods | 61 | €1,278,332 | €1,477,035 | +€198,703 | +15.5% |
| Remuneration, social security and pensions | 62 | €383,407 | €315,153 | -€68,255 | -17.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,326 | €2,851 | +€525 | +22.6% |
| Other operating charges | 640/8 | €12,324 | €14,275 | +€1,952 | +15.8% |
| Operating profit (loss) | 9901 | €439,619 | €1,242,141 | +€802,522 | +182.5% |
| Financial income | 75/76B | €1,029,305 | €932,243 | -€97,061 | -9.4% |
| Recurring financial income | 75 | €33,201 | €932,243 | +€899,043 | +2707.9% |
| Income from financial fixed assets | 750 | - | €932,243 | +€932,243 | |
| Income from current assets | 751 | €33,201 | - | -€33,201 | |
| Other financial income | 752/9 | - | €0 | +€0 | |
| Non-recurring financial income | 76B | €996,104 | - | -€996,104 | |
| Financial charges | 65/66B | €1,463,963 | €2,218,220 | +€754,257 | +51.5% |
| Recurring financial charges | 65 | €463,039 | €708,387 | +€245,348 | +53.0% |
| Debt charges | 650 | €412,675 | €299,082 | -€113,593 | -27.5% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | - | €400,000 | +€400,000 | |
| Other financial charges | 652/9 | €50,364 | €9,305 | -€41,059 | -81.5% |
| Non-recurring financial charges | 66B | €1,000,924 | €1,509,833 | +€508,909 | +50.8% |
| Profit (loss) for the period before taxes | 9903 | €4,962 | -€43,835 | -€48,797 | |
| Income taxes | 67/77 | €0 | €210,500 | +€210,500 | +140333180.0% |
| Taxes | 670/3 | €0 | €210,500 | +€210,500 | +140333180.0% |
| Profit (loss) for the period | 9904 | €4,961 | -€254,335 | -€259,297 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,961 | -€254,335 | -€259,297 |
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.