HIVRON: 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.
HIVRON
Largest movements
- Receivables within one year +€116,009
up €116,009 (+23.3%), from €497,177 to €613,186
of which Trade receivables: +€114,171
- Cash +€44,570
up €44,570 (+41.3%), from €108,006 to €152,576
mainly Trade debts (+€68,773) and Net result for the year (+€45,179)
- Tangible fixed assets -€21,681
down €21,681 (-44.0%), from €49,323 to €27,642
of which Plant, machinery and equipment: -€14,460
- Trade debts +€68,773
up €68,773 (+17.7%), from €387,924 to €456,697
- Profit (loss) carried forward +€45,179
up €45,179 (+52.7%), from -€85,752 to -€40,573
- Tax, wage and social debts +€29,801
up €29,801 (+14.4%), from €207,263 to €237,064
of which Remuneration and social security: +€40,686
- Staff costs -€95,566
down €95,566 (-11.1%), from €860,351 to €764,785
- Gross operating margin -€64,754
down €64,754 (-7.2%), from €893,352 to €828,598
- Taxes -€31,976
down €31,976, from €252 to -€31,724
- Financial charges -€11,798
down €11,798 (-68.9%), from €17,131 to €5,333
- Financial income -€11,733
down €11,733 (-97.7%), from €12,005 to €271
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 | €656,707 | €795,604 | +€138,897 | +21.2% |
| Fixed assets | 21/28 | €51,523 | €29,842 | -€21,681 | -42.1% |
| Tangible fixed assets | 22/27 | €49,323 | €27,642 | -€21,681 | -44.0% |
| Land and buildings | 22 | €865 | €0 | -€865 | -100.0% |
| Plant, machinery and equipment | 23 | €39,102 | €24,642 | -€14,460 | -37.0% |
| Furniture and vehicles | 24 | €9,357 | €3,000 | -€6,357 | -67.9% |
| Financial fixed assets | 28 | €2,200 | €2,200 | = | 0.0% |
| Current assets | 29/58 | €605,183 | €765,762 | +€160,578 | +26.5% |
| Amounts receivable within one year | 40/41 | €497,177 | €613,186 | +€116,009 | +23.3% |
| Trade receivables | 40 | €497,015 | €611,186 | +€114,171 | +23.0% |
| Other amounts receivable | 41 | €162 | €2,000 | +€1,838 | +1131.8% |
| Cash at bank and in hand | 54/58 | €108,006 | €152,576 | +€44,570 | +41.3% |
| Total equity and liabilities | 10/49 | €656,707 | €795,604 | +€138,897 | +21.2% |
| Equity | 10/15 | -€14,940 | €30,238 | +€45,179 | |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €9,312 | €9,312 | = | 0.0% |
| Non-distributable reserves | 130/1 | €466 | €466 | = | 0.0% |
| Legal reserve | 130 | €466 | €466 | = | 0.0% |
| Distributable reserves | 133 | €8,846 | €8,846 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€85,752 | -€40,573 | +€45,179 | +52.7% |
| Amounts payable | 17/49 | €671,647 | €765,365 | +€93,718 | +14.0% |
| Amounts payable within one year | 42/48 | €671,647 | €765,365 | +€93,718 | +14.0% |
| Trade debts | 44 | €387,924 | €456,697 | +€68,773 | +17.7% |
| Suppliers | 440/4 | €387,924 | €456,697 | +€68,773 | +17.7% |
| Taxes, remuneration and social security | 45 | €207,263 | €237,064 | +€29,801 | +14.4% |
| Taxes | 450/3 | €34,359 | €23,474 | -€10,885 | -31.7% |
| Remuneration and social security | 454/9 | €172,903 | €213,590 | +€40,686 | +23.5% |
| Other amounts payable | 47/48 | €76,460 | €71,604 | -€4,856 | -6.4% |
| Remuneration, social security and pensions | 62 | €860,351 | €764,785 | -€95,566 | -11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €44,387 | €44,231 | -€156 | -0.4% |
| Other operating charges | 640/8 | €979 | €1,066 | +€87 | +8.9% |
| Gross operating margin | 9900 | €893,352 | €828,598 | -€64,754 | -7.2% |
| Operating profit (loss) | 9901 | -€12,365 | €18,516 | +€30,881 | |
| Financial income | 75/76B | €12,005 | €271 | -€11,733 | -97.7% |
| Recurring financial income | 75 | €12,005 | €271 | -€11,733 | -97.7% |
| Financial charges | 65/66B | €17,131 | €5,333 | -€11,798 | -68.9% |
| Recurring financial charges | 65 | €17,131 | €5,333 | -€11,798 | -68.9% |
| Profit (loss) for the period before taxes | 9903 | -€17,491 | €13,455 | +€30,946 | |
| Income taxes | 67/77 | €252 | -€31,724 | -€31,976 | |
| Profit (loss) for the period | 9904 | -€17,743 | €45,179 | +€62,921 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,743 | €45,179 | +€62,921 |
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 10 October 2026 via checked.be.