Hiveco: 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.
Hiveco
Largest movements
- Cash +€74,067
up €74,067 (+293.3%), from €25,257 to €99,323
mainly Net result for the year (+€52,185) and Tax, wage and social debts (+€16,119)
- Receivables within one year -€4,077
down €4,077 (-47.1%), from €8,663 to €4,586
of which Other amounts receivable: -€6,847
- Deferred charges and accrued income -€2,068
down €2,068 (-32.8%), from €6,296 to €4,228
- Reserves +€52,185
up €52,185 (+168.1%), from €31,043 to €83,228
- Tax, wage and social debts +€16,119
up €16,119 (+207.2%), from €7,778 to €23,897
of which Taxes: +€14,119
- Trade debts -€3,372
down €3,372 (-74.2%), from €4,542 to €1,170
- Other debts +€3,252
new in 2025: €3,252
- Gross operating margin +€29,618
up €29,618 (+68.9%), from €42,986 to €72,604
- Taxes +€5,928
up €5,928 (+76.2%), from €7,778 to €13,707
- Financial charges +€2,022
up €2,022 (+308.7%), from €655 to €2,677
- Write-downs +€1,494
new in 2025: €1,494
- Depreciation -€1,006
down €1,006 (-29.9%), from €3,361 to €2,355
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 | €45,864 | €114,047 | +€68,184 | +148.7% |
| Fixed assets | 21/28 | €5,648 | €5,910 | +€262 | +4.6% |
| Intangible fixed assets | 21 | €1,921 | €1,721 | -€200 | -10.4% |
| Tangible fixed assets | 22/27 | €3,727 | €4,189 | +€462 | +12.4% |
| Plant, machinery and equipment | 23 | €593 | €1,292 | +€699 | +117.9% |
| Furniture and vehicles | 24 | €3,134 | €2,897 | -€237 | -7.6% |
| Current assets | 29/58 | €40,216 | €108,137 | +€67,921 | +168.9% |
| Amounts receivable within one year | 40/41 | €8,663 | €4,586 | -€4,077 | -47.1% |
| Trade receivables | 40 | €1,817 | €4,586 | +€2,769 | +152.4% |
| Other amounts receivable | 41 | €6,847 | - | -€6,847 | |
| Cash at bank and in hand | 54/58 | €25,257 | €99,323 | +€74,067 | +293.3% |
| Deferred charges and accrued income | 490/1 | €6,296 | €4,228 | -€2,068 | -32.8% |
| Total equity and liabilities | 10/49 | €45,864 | €114,047 | +€68,184 | +148.7% |
| Equity | 10/15 | €33,543 | €85,728 | +€52,185 | +155.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €31,043 | €83,228 | +€52,185 | +168.1% |
| Distributable reserves | 133 | €31,043 | €83,228 | +€52,185 | +168.1% |
| Amounts payable | 17/49 | €12,320 | €28,319 | +€15,999 | +129.9% |
| Amounts payable within one year | 42/48 | €12,320 | €28,319 | +€15,999 | +129.9% |
| Trade debts | 44 | €4,542 | €1,170 | -€3,372 | -74.2% |
| Suppliers | 440/4 | €4,542 | €1,170 | -€3,372 | -74.2% |
| Taxes, remuneration and social security | 45 | €7,778 | €23,897 | +€16,119 | +207.2% |
| Taxes | 450/3 | €7,778 | €21,897 | +€14,119 | +181.5% |
| Remuneration and social security | 454/9 | - | €2,000 | +€2,000 | |
| Other amounts payable | 47/48 | - | €3,252 | +€3,252 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,361 | €2,355 | -€1,006 | -29.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,494 | +€1,494 | |
| Other operating charges | 640/8 | €341 | €188 | -€153 | -44.8% |
| Gross operating margin | 9900 | €42,986 | €72,604 | +€29,618 | +68.9% |
| Operating profit (loss) | 9901 | €39,283 | €68,566 | +€29,283 | +74.5% |
| Financial income | 75/76B | €194 | €2 | -€191 | -98.8% |
| Recurring financial income | 75 | €194 | €2 | -€191 | -98.8% |
| Financial charges | 65/66B | €655 | €2,677 | +€2,022 | +308.7% |
| Recurring financial charges | 65 | €655 | €2,677 | +€2,022 | +308.7% |
| Profit (loss) for the period before taxes | 9903 | €38,822 | €65,892 | +€27,070 | +69.7% |
| Income taxes | 67/77 | €7,778 | €13,707 | +€5,928 | +76.2% |
| Profit (loss) for the period | 9904 | €31,043 | €52,185 | +€21,142 | +68.1% |
| Profit (loss) for the period to be appropriated | 9905 | €31,043 | €52,185 | +€21,142 | +68.1% |
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 9 October 2026 via checked.be.