HIVE Finances: 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.
HIVE Finances
Largest movements
- Tangible fixed assets +€398,833
up €398,833 (+66.9%), from €595,729 to €994,562
of which Plant, machinery and equipment: +€429,110
- Receivables within one year -€242,479
down €242,479 (-64.4%), from €376,327 to €133,848
of which Trade receivables: -€263,009
- Cash +€110,340
up €110,340 (+61.1%), from €180,493 to €290,833
mainly Depreciation (+€395,037) and Net result for the year (+€296,395)
- Reserves +€296,395
up €296,395 (+51.7%), from €573,810 to €870,205
of which Distributable reserves: +€153,255
- Short-term financial debts -€100,000
no longer reported in 2025 (was €100,000)
- Trade debts +€49,121
up €49,121 (+67.3%), from €73,023 to €122,144
- Tax, wage and social debts +€30,175
up €30,175 (+71.4%), from €42,277 to €72,452
of which Remuneration and social security: +€28,247
- Gross operating margin +€314,280
up €314,280 (+38.6%), from €813,595 to €1.1m
- Depreciation +€94,155
up €94,155 (+31.3%), from €300,882 to €395,037
- Staff costs +€67,797
up €67,797 (+29.0%), from €233,975 to €301,773
- Taxes +€37,541
up €37,541 (+64.2%), from €58,495 to €96,037
- Other operating charges +€16,368
up €16,368 (+85.4%), from €19,167 to €35,535
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 | €1,206,900 | €1,483,179 | +€276,279 | +22.9% |
| Fixed assets | 21/28 | €596,412 | €994,566 | +€398,154 | +66.8% |
| Intangible fixed assets | 21 | €88 | €4 | -€84 | -95.2% |
| Tangible fixed assets | 22/27 | €595,729 | €994,562 | +€398,833 | +66.9% |
| Plant, machinery and equipment | 23 | €476,314 | €905,424 | +€429,110 | +90.1% |
| Furniture and vehicles | 24 | €96,201 | €70,847 | -€25,353 | -26.4% |
| Other tangible fixed assets | 26 | €23,214 | €18,290 | -€4,924 | -21.2% |
| Financial fixed assets | 28 | €595 | - | -€595 | |
| Current assets | 29/58 | €610,488 | €488,613 | -€121,875 | -20.0% |
| Stocks and contracts in progress | 3 | €33,214 | €35,530 | +€2,316 | +7.0% |
| Stocks | 30/36 | €33,214 | €35,530 | +€2,316 | +7.0% |
| Amounts receivable within one year | 40/41 | €376,327 | €133,848 | -€242,479 | -64.4% |
| Trade receivables | 40 | €363,958 | €100,949 | -€263,009 | -72.3% |
| Other amounts receivable | 41 | €12,369 | €32,899 | +€20,530 | +166% |
| Cash at bank and in hand | 54/58 | €180,493 | €290,833 | +€110,340 | +61.1% |
| Deferred charges and accrued income | 490/1 | €20,454 | €28,402 | +€7,948 | +38.9% |
| Total equity and liabilities | 10/49 | €1,206,900 | €1,483,179 | +€276,279 | +22.9% |
| Equity | 10/15 | €882,410 | €1,178,805 | +€296,395 | +33.6% |
| Contributions | 10/11 | €308,600 | €308,600 | = | 0.0% |
| Capital | 10 | €308,600 | €308,600 | = | 0.0% |
| Issued capital | 100 | €308,600 | €308,600 | = | 0.0% |
| Reserves | 13 | €573,810 | €870,205 | +€296,395 | +51.7% |
| Non-distributable reserves | 130/1 | €32,720 | €32,720 | = | 0.0% |
| Legal reserve | 130 | €30,860 | €30,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €143,140 | +€143,140 | |
| Distributable reserves | 133 | €541,090 | €694,345 | +€153,255 | +28.3% |
| Provisions and deferred taxes | 16 | €95,425 | €95,425 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €95,425 | €95,425 | = | 0.0% |
| Pensions and similar obligations | 160 | €95,425 | €95,425 | = | 0.0% |
| Amounts payable | 17/49 | €229,065 | €208,949 | -€20,117 | -8.8% |
| Amounts payable within one year | 42/48 | €229,064 | €208,948 | -€20,116 | -8.8% |
| Financial debts | 43 | €100,000 | - | -€100,000 | |
| Credit institutions | 430/8 | €100,000 | - | -€100,000 | |
| Trade debts | 44 | €73,023 | €122,144 | +€49,121 | +67.3% |
| Suppliers | 440/4 | €73,023 | €122,144 | +€49,121 | +67.3% |
| Taxes, remuneration and social security | 45 | €42,277 | €72,452 | +€30,175 | +71.4% |
| Taxes | 450/3 | €26,731 | €28,659 | +€1,928 | +7.2% |
| Remuneration and social security | 454/9 | €15,546 | €43,793 | +€28,247 | +182% |
| Other amounts payable | 47/48 | €13,765 | €14,352 | +€588 | +4.3% |
| Accrued charges and deferred income | 492/3 | €1 | €1 | -€0 | -44.9% |
| Non-recurring operating income | 76A | - | €9,808 | +€9,808 | |
| Remuneration, social security and pensions | 62 | €233,975 | €301,773 | +€67,797 | +29.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €300,882 | €395,037 | +€94,155 | +31.3% |
| Other operating charges | 640/8 | €19,167 | €35,535 | +€16,368 | +85.4% |
| Non-recurring operating charges | 66A | €14,778 | €1,699 | -€13,080 | -88.5% |
| Gross operating margin | 9900 | €813,595 | €1,127,875 | +€314,280 | +38.6% |
| Operating profit (loss) | 9901 | €244,793 | €393,831 | +€149,039 | +60.9% |
| Financial income | 75/76B | €522 | €3,753 | +€3,230 | +618% |
| Recurring financial income | 75 | €522 | €3,753 | +€3,230 | +618% |
| Financial charges | 65/66B | €3,422 | €5,152 | +€1,730 | +50.5% |
| Recurring financial charges | 65 | €3,422 | €5,152 | +€1,730 | +50.5% |
| Profit (loss) for the period before taxes | 9903 | €241,893 | €392,432 | +€150,539 | +62.2% |
| Income taxes | 67/77 | €58,495 | €96,037 | +€37,541 | +64.2% |
| Profit (loss) for the period | 9904 | €183,397 | €296,395 | +€112,998 | +61.6% |
| Transfer to tax-exempt reserves | 689 | - | €143,140 | +€143,140 | |
| Profit (loss) for the period to be appropriated | 9905 | €183,397 | €153,255 | -€30,142 | -16.4% |
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 15 October 2026 via checked.be.