Hive Finance Group has published its audited consolidated financial statements for the year ended 31 December 2024, independently audited by UAB Veritas Auditas. The report covers all Group companies: Hive Finance UAB (holding company), Argentum Capital Sp. z o.o. (Ekspres Pożyczka, Poland), Nectar Capital S.L. (FinJet, Spain), Hive5 Marketplace d.o.o. (Croatia), and Digital Capital Finance S.A. (Credilink, Romania).
Audited Highlights
First Profit
2024 was the first year in the Group's history when consolidated operations generated a net profit. The result of EUR 63K is modest, but the shift from a EUR 410K loss in 2023 confirms that the business model is working. Revenue more than tripled to EUR 11.5M, gross margin improved to 79.9% (2023: 72.4%), and operating cash flow reached EUR 1.5M — up from EUR 402K a year earlier.
EBITDA — which reflects the operating profitability of the business before finance costs, tax and depreciation — reached EUR 1.9M, up from EUR 315K in 2023.
Equity Position
Equity remains negative (EUR -1.27M) due to accumulated prior-year losses. Our priority is to rebuild it through sustained profitability and disciplined cost control.
As in the prior year, the auditor's report includes a going concern note, reflecting the negative equity position. This is common for companies in an early growth phase and is expected to resolve as the Group continues building profitability.
In case additional liquidity is ever required, our shareholder Andrius Rupšys is prepared to provide additional funding.
Markets
Poland (Ekspres Pożyczka) is the Group's core market — EUR 8.2M in revenue and EUR 141K in net profit at entity level. Credit default rates remained within the targeted 4–6% range.
Spain (FinJet) completed its first full year, growing the portfolio to EUR 3M and generating EUR 3.3M in entity-level revenue. Spain is now the Group's second growth market.
The Importance for Investors
This report confirms that Hive Finance Group has reached a crucial turning point. The group's ability to scale operations, reduce financial costs, and achieve profitability – all while maintaining growth in assets and revenue – sends a clear message to investors: Hive Finance Group is a fast-growing and highly scalable business.
Investors could expect that after positive business results, we can focus on better credit scoring, better risk-adjusted returns, and an increasing ability to self-finance or operate with diversified funding strategies.
Auditor's Opinion
The independent audit was performed by UAB Veritas Auditas, with an unmodified opinion confirming the financial statements present a true and fair view under IFRS as adopted by the EU.
2024 Consolidated Report of Hive Finance Group – pdf 
