HIVE5 GROUP: 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.
HIVE5 GROUP
Largest movements
- Cash -€97,290
down €97,290 (-13.5%), from €719,824 to €622,534
mainly Trade debts (-€160,248) and Receivables within one year (-€68,533)
- Receivables within one year +€68,533
up €68,533 (+48.6%), from €141,141 to €209,674
of which Trade receivables: +€69,838
- Tangible fixed assets -€32,957
down €32,957 (-18.8%), from €175,408 to €142,451
of which Other tangible fixed assets: -€30,299
- Trade debts -€160,248
down €160,248 (-78.9%), from €203,149 to €42,901
- Profit (loss) carried forward +€65,684
new in 2025: €65,684
- Current portion of long-term debt +€48,630
up €48,630 (+17.1%), from €283,601 to €332,231
- Debts after one year -€28,383
down €28,383 (-22.6%), from €125,524 to €97,141
- Tax, wage and social debts +€22,443
up €22,443 (+41.3%), from €54,304 to €76,747
of which Taxes: +€26,646
- Taxes +€36,153
up €36,153 (+574%), from €6,297 to €42,450
- Gross operating margin -€30,340
down €30,340 (-7.9%), from €383,825 to €353,485
- Provisions +€20,479
no longer reported in 2025 (was -€20,479)
- Other operating charges +€13,690
up €13,690 (+1,067%), from €1,283 to €14,973
- Depreciation +€9,226
up €9,226 (+25.5%), from €36,250 to €45,476
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 | €1,112,240 | €1,059,893 | -€52,347 | -4.7% |
| Fixed assets | 21/28 | €249,556 | €224,899 | -€24,657 | -9.9% |
| Intangible fixed assets | 21 | €74,148 | €82,448 | +€8,300 | +11.2% |
| Tangible fixed assets | 22/27 | €175,408 | €142,451 | -€32,957 | -18.8% |
| Furniture and vehicles | 24 | €27,110 | €24,452 | -€2,658 | -9.8% |
| Other tangible fixed assets | 26 | €148,298 | €117,999 | -€30,299 | -20.4% |
| Current assets | 29/58 | €862,684 | €834,994 | -€27,690 | -3.2% |
| Amounts receivable within one year | 40/41 | €141,141 | €209,674 | +€68,533 | +48.6% |
| Trade receivables | 40 | €139,836 | €209,674 | +€69,838 | +49.9% |
| Other amounts receivable | 41 | €1,305 | - | -€1,305 | |
| Cash at bank and in hand | 54/58 | €719,824 | €622,534 | -€97,290 | -13.5% |
| Deferred charges and accrued income | 490/1 | €1,719 | €2,786 | +€1,067 | +62.1% |
| Total equity and liabilities | 10/49 | €1,112,240 | €1,059,893 | -€52,347 | -4.7% |
| Equity | 10/15 | €409,645 | €479,839 | +€70,194 | +17.1% |
| Contributions | 10/11 | €400,000 | €400,000 | = | 0.0% |
| Capital | 10 | €400,000 | €400,000 | = | 0.0% |
| Issued capital | 100 | €400,000 | €400,000 | = | 0.0% |
| Reserves | 13 | €9,645 | €14,155 | +€4,510 | +46.8% |
| Non-distributable reserves | 130/1 | €9,645 | €14,155 | +€4,510 | +46.8% |
| Legal reserve | 130 | €9,645 | €14,155 | +€4,510 | +46.8% |
| Profit (loss) carried forward | 14 | - | €65,684 | +€65,684 | |
| Amounts payable | 17/49 | €702,595 | €580,054 | -€122,541 | -17.4% |
| Amounts payable after more than one year | 17 | €125,524 | €97,141 | -€28,383 | -22.6% |
| Financial debts | 170/4 | €125,524 | €97,141 | -€28,383 | -22.6% |
| Amounts payable within one year | 42/48 | €569,424 | €481,579 | -€87,845 | -15.4% |
| Current portion of amounts payable after more than one year | 42 | €283,601 | €332,231 | +€48,630 | +17.1% |
| Financial debts | 43 | €28,040 | €28,383 | +€343 | +1.2% |
| Credit institutions | 430/8 | €28,040 | €28,383 | +€343 | +1.2% |
| Trade debts | 44 | €203,149 | €42,901 | -€160,248 | -78.9% |
| Suppliers | 440/4 | €203,149 | €42,901 | -€160,248 | -78.9% |
| Taxes, remuneration and social security | 45 | €54,304 | €76,747 | +€22,443 | +41.3% |
| Taxes | 450/3 | €24,174 | €50,820 | +€26,646 | +110% |
| Remuneration and social security | 454/9 | €30,130 | €25,927 | -€4,203 | -13.9% |
| Other amounts payable | 47/48 | €330 | €1,317 | +€987 | +299% |
| Accrued charges and deferred income | 492/3 | €7,647 | €1,334 | -€6,313 | -82.6% |
| Non-recurring operating income | 76A | €139 | €10,389 | +€10,250 | +7,374% |
| Remuneration, social security and pensions | 62 | €179,671 | €187,665 | +€7,994 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,250 | €45,476 | +€9,226 | +25.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€20,479 | - | +€20,479 | |
| Other operating charges | 640/8 | €1,283 | €14,973 | +€13,690 | +1,067% |
| Non-recurring operating charges | 66A | - | €1,815 | +€1,815 | |
| Gross operating margin | 9900 | €383,825 | €353,485 | -€30,340 | -7.9% |
| Operating profit (loss) | 9901 | €187,100 | €103,556 | -€83,544 | -44.7% |
| Financial income | 75/76B | €15,841 | €12,079 | -€3,762 | -23.7% |
| Recurring financial income | 75 | €15,841 | €12,079 | -€3,762 | -23.7% |
| Financial charges | 65/66B | €3,052 | €2,991 | -€61 | -2.0% |
| Recurring financial charges | 65 | €3,052 | €2,991 | -€61 | -2.0% |
| Profit (loss) for the period before taxes | 9903 | €199,889 | €112,644 | -€87,245 | -43.6% |
| Income taxes | 67/77 | €6,297 | €42,450 | +€36,153 | +574% |
| Profit (loss) for the period | 9904 | €193,592 | €70,194 | -€123,398 | -63.7% |
| Profit (loss) for the period to be appropriated | 9905 | €193,592 | €70,194 | -€123,398 | -63.7% |
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 19 October 2026 via checked.be.