THE BEEHIVE: 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.
THE BEEHIVE
Largest movements
- Deferred charges and accrued income +€19,766
up €19,766 (+23.0%), from €85,847 to €105,613
- Cash -€10,354
down €10,354 (-42.7%), from €24,245 to €13,891
mainly Deferred charges and accrued income (-€19,766) and Other debts (-€17,825)
- Profit (loss) carried forward +€22,817
up €22,817 (+7.1%), from -€323,600 to -€300,783
- Trade debts +€21,604
up €21,604 (+1,021%), from €2,116 to €23,720
- Other debts -€17,825
down €17,825 (-12.9%), from €137,796 to €119,971
- Tax, wage and social debts -€9,011
down €9,011 (-41.7%), from €21,594 to €12,583
- Short-term financial debts -€8,842
no longer reported in 2025 (was €8,842)
- Gross operating margin -€55,555
down €55,555 (-80.1%), from €69,379 to €13,824
- Taxes -€14,394
down €14,394 (-63.5%), from €22,664 to €8,271
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.
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 | €735,822 | €744,566 | +€8,744 | +1.2% |
| Fixed assets | 21/28 | €329,924 | €329,924 | = | 0.0% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €329,924 | €329,924 | = | 0.0% |
| Current assets | 29/58 | €405,898 | €414,642 | +€8,744 | +2.2% |
| Amounts receivable after more than one year | 29 | €268,000 | €268,000 | = | 0.0% |
| Other amounts receivable | 291 | €268,000 | €268,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €27,807 | €27,138 | -€669 | -2.4% |
| Trade receivables | 40 | €27,807 | €25,436 | -€2,371 | -8.5% |
| Other amounts receivable | 41 | €0 | €1,702 | +€1,702 | |
| Cash at bank and in hand | 54/58 | €24,245 | €13,891 | -€10,354 | -42.7% |
| Deferred charges and accrued income | 490/1 | €85,847 | €105,613 | +€19,766 | +23.0% |
| Total equity and liabilities | 10/49 | €735,822 | €744,566 | +€8,744 | +1.2% |
| Equity | 10/15 | €565,475 | €588,292 | +€22,817 | +4.0% |
| Contributions | 10/11 | €882,400 | €882,400 | = | 0.0% |
| Reserves | 13 | €6,676 | €6,676 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,676 | - | -€6,676 | |
| Reserves not available under the articles | 1311 | €6,676 | - | -€6,676 | |
| Distributable reserves | 133 | - | €6,676 | +€6,676 | |
| Profit (loss) carried forward | 14 | -€323,600 | -€300,783 | +€22,817 | +7.1% |
| Amounts payable | 17/49 | €170,347 | €156,274 | -€14,073 | -8.3% |
| Amounts payable within one year | 42/48 | €170,347 | €156,274 | -€14,073 | -8.3% |
| Financial debts | 43 | €8,842 | - | -€8,842 | |
| Credit institutions | 430/8 | €8,842 | - | -€8,842 | |
| Trade debts | 44 | €2,116 | €23,720 | +€21,604 | +1,021% |
| Suppliers | 440/4 | €2,116 | €23,720 | +€21,604 | +1,021% |
| Taxes, remuneration and social security | 45 | €21,594 | €12,583 | -€9,011 | -41.7% |
| Taxes | 450/3 | €21,594 | €12,583 | -€9,011 | -41.7% |
| Other amounts payable | 47/48 | €137,796 | €119,971 | -€17,825 | -12.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €576 | - | -€576 | |
| Other operating charges | 640/8 | €534 | €549 | +€15 | +2.8% |
| Gross operating margin | 9900 | €69,379 | €13,824 | -€55,555 | -80.1% |
| Operating profit (loss) | 9901 | €68,268 | €13,274 | -€54,994 | -80.6% |
| Financial income | 75/76B | €19,966 | €19,518 | -€448 | -2.2% |
| Recurring financial income | 75 | €19,966 | €19,518 | -€448 | -2.2% |
| Financial charges | 65/66B | €1,359 | €1,705 | +€346 | +25.5% |
| Recurring financial charges | 65 | €1,359 | €1,705 | +€346 | +25.5% |
| Profit (loss) for the period before taxes | 9903 | €86,876 | €31,088 | -€55,788 | -64.2% |
| Income taxes | 67/77 | €22,664 | €8,271 | -€14,394 | -63.5% |
| Profit (loss) for the period | 9904 | €64,211 | €22,817 | -€41,394 | -64.5% |
| Profit (loss) for the period to be appropriated | 9905 | €64,211 | €22,817 | -€41,394 | -64.5% |
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 21 October 2026 via checked.be.