C-HIVE: 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.
C-HIVE
Largest movements
- Tangible fixed assets -€208,000
down €208,000 (-40.3%), from €515,620 to €307,620
of which Land and buildings: -€129,376
- Cash +€168,552
up €168,552 (+623%), from €27,041 to €195,593
mainly Debts after one year (+€132,000) and Investment in fixed assets (net) (+€129,375)
- Deferred charges and accrued income +€37,680
up €37,680 (+522%), from €7,222 to €44,902
- Profit (loss) carried forward -€146,423
down €146,423 (-13.1%), from -€1.1m to -€1.3m
- Debts after one year +€132,000
up €132,000 (+12.1%), from €1.1m to €1.2m
- Tax, wage and social debts +€31,081
new in 2025: €31,081
- Accrued charges and deferred income -€16,446
down €16,446 (-23.4%), from €70,222 to €53,776
- Gross operating margin +€96,182
up €96,182 (+83.8%), from -€114,713 to -€18,531
- Write-downs -€34,258
down €34,258, from €17,129 to -€17,129
- Depreciation +€31,449
up €31,449 (+66.7%), from €47,175 to €78,624
- Financial charges -€4,643
down €4,643 (-7.9%), from €58,870 to €54,227
- Other operating charges +€4,144
up €4,144 (+51.6%), from €8,027 to €12,171
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 | €556,977 | €551,636 | -€5,341 | -1.0% |
| Fixed assets | 21/28 | €519,141 | €311,141 | -€208,000 | -40.1% |
| Tangible fixed assets | 22/27 | €515,620 | €307,620 | -€208,000 | -40.3% |
| Land and buildings | 22 | €196,626 | €67,250 | -€129,376 | -65.8% |
| Furniture and vehicles | 24 | €59,877 | €31,161 | -€28,716 | -48.0% |
| Other tangible fixed assets | 26 | €259,117 | €209,209 | -€49,908 | -19.3% |
| Financial fixed assets | 28 | €3,521 | €3,521 | +€0 | 0.0% |
| Current assets | 29/58 | €37,836 | €240,495 | +€202,659 | +536% |
| Amounts receivable within one year | 40/41 | €3,573 | - | -€3,573 | |
| Trade receivables | 40 | €917 | - | -€917 | |
| Other amounts receivable | 41 | €2,656 | - | -€2,656 | |
| Cash at bank and in hand | 54/58 | €27,041 | €195,593 | +€168,552 | +623% |
| Deferred charges and accrued income | 490/1 | €7,222 | €44,902 | +€37,680 | +522% |
| Total equity and liabilities | 10/49 | €556,977 | €551,636 | -€5,341 | -1.0% |
| Equity | 10/15 | -€615,893 | -€762,316 | -€146,423 | -23.8% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,115,893 | -€1,262,316 | -€146,423 | -13.1% |
| Amounts payable | 17/49 | €1,172,870 | €1,313,953 | +€141,083 | +12.0% |
| Amounts payable after more than one year | 17 | €1,093,000 | €1,225,000 | +€132,000 | +12.1% |
| Financial debts | 170/4 | €1,093,000 | €1,225,000 | +€132,000 | +12.1% |
| Amounts payable within one year | 42/48 | €9,648 | €35,177 | +€25,529 | +265% |
| Trade debts | 44 | €9,648 | €4,096 | -€5,552 | -57.6% |
| Suppliers | 440/4 | €9,648 | €4,096 | -€5,552 | -57.6% |
| Taxes, remuneration and social security | 45 | - | €31,081 | +€31,081 | |
| Taxes | 450/3 | - | €31,081 | +€31,081 | |
| Accrued charges and deferred income | 492/3 | €70,222 | €53,776 | -€16,446 | -23.4% |
| Non-recurring operating income | 76A | - | €13,055 | +€13,055 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,175 | €78,624 | +€31,449 | +66.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €17,129 | -€17,129 | -€34,258 | |
| Other operating charges | 640/8 | €8,027 | €12,171 | +€4,144 | +51.6% |
| Non-recurring operating charges | 66A | €197,836 | - | -€197,836 | |
| Gross operating margin | 9900 | -€114,713 | -€18,531 | +€96,182 | +83.8% |
| Operating profit (loss) | 9901 | -€384,880 | -€92,196 | +€292,684 | +76.0% |
| Financial charges | 65/66B | €58,870 | €54,227 | -€4,643 | -7.9% |
| Recurring financial charges | 65 | €58,870 | €54,227 | -€4,643 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | -€443,750 | -€146,423 | +€297,327 | +67.0% |
| Profit (loss) for the period | 9904 | -€443,750 | -€146,423 | +€297,327 | +67.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€443,750 | -€146,423 | +€297,327 | +67.0% |
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 20 October 2026 via checked.be.