INDIGO
ActiveSummary
INDIGO has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €121,958 and a net result of €11,453. Equity is shrinking by ~4.9% per year across the filed fiscal years. Its solvency ranks better than 75% of 7071 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability78▼-1
Solvency100=
Growth58=
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €10,000 at 30 days acceptable
Liquidity ample (current ratio 2.15 against 2.5 in 2024; short-term debt: 21.7% and cash: 27.6% of total assets), and 21.7% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
78.3%
Return on assets
7.4%
Age of the figures
9 mo
lowers risk · Growing equity
Reported equity is higher than in 2023 and did not fall compared with 2024. These amounts do not establish the cause of the change.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €121,958
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 16-07-2026, 15 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
15 d early
2024
17 d early
2023
5 d early
2022
11 d early
2021
25 d late
2020
90 d late
2019
151 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 31 days after the deadline; the sector median for financial year 2024 is 6 days before the deadline, and 36% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€121,958▲ 10.4%
2024 · €110,505
Total assets
€155,742▲ 19.0%
2024 · €130,893
Net result
€11,453▲ 11.6%
2024 · €10,260
Working capital
€38,759▲ 26.5%
2024 · €30,633
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result-€8,290▼ 26.6%-€15,240▼ 83.8%€2,741€15,530▲ 467%€17,298▲ 11.4%
Net result-€8,644▼ 14.8%-€15,356▼ 77.6%€2,143€10,260▲ 379%€11,453▲ 11.6%
Equity€113,458▼ 7.1%€98,102▼ 13.5%€100,245▲ 2.2%€110,505▲ 10.2%€121,958▲ 10.4%
Total assets€125,991▼ 9.2%€127,205▲ 1.0%€123,085▼ 3.2%€130,893▲ 6.3%€155,742▲ 19.0%
Debt€12,532▼ 24.5%€29,102▲ 132%€22,840▼ 21.5%€20,388▼ 10.7%€33,785▲ 65.7%
Working capital€28,928▼ 11.4%-€1,330€13,520€30,633▲ 127%€38,759▲ 26.5%
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 11% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €155,742
Fixed assets
€83,199 ▲ 4.2%
Current assets
€72,544 ▲ 42.2%
Equity and liabilities €155,742
Equity
€121,958 ▲ 10.4%
Debt
€33,785 ▲ 65.7%
Debt's share of the balance-sheet total rises from 15.6% to 21.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€32,913▲
2024 · €28,468
Cash flow
€27,067▲
2024 · €23,197
Current ratio
2.15▼
2024 · 2.50
Quick ratio
1.98▼
2024 · 2.02
Debt to equity
0.28▲
2024 · 0.18
ROE
9.4%▲
2024 · 9.3%
ROA
7.4%▼
2024 · 7.8%
Interest coverage
372.99▲
2024 · 277.54
Debt ≤ 1 year
€33,785▲
2024 · €20,388
Income taxes
€5,823▲
2024 · €5,246
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | €5,000 | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €7,715 | €8,110 | €12,706 | €12,938 | €15,615 | ▲ 20.7% |
| Other operating charges640/8 | €1,290 | €1,251 | €1,556 | €1,475 | €1,374 | ▼ 6.8% |
| Gross operating margin9900 | €715 | -€5,879 | €17,004 | €29,942 | €34,287 | ▲ 14.5% |
| Operating profit (loss)9901 | -€8,290 | -€15,240 | €2,741 | €15,530 | €17,298 | ▲ 11.4% |
| Financial income75/76B | €58 | €118 | €14 | €78 | €66 | ▼ 15.1% |
| Recurring financial income75 | €58 | €118 | €14 | €78 | €66 | ▼ 15.1% |
| Financial charges65/66B | €120 | €115 | €83 | €103 | €88 | ▼ 14.0% |
| Recurring financial charges65 | €120 | €115 | €83 | €103 | €88 | ▼ 14.0% |
| Profit (loss) for the period before taxes9903 | -€8,352 | -€15,237 | €2,672 | €15,505 | €17,276 | ▲ 11.4% |
| Income taxes67/77 | €293 | €120 | €529 | €5,246 | €5,823 | ▲ 11.0% |
| Profit (loss) for the period9904 | -€8,644 | -€15,356 | €2,143 | €10,260 | €11,453 | ▲ 11.6% |
| Profit (loss) for the period to be appropriated9905 | -€8,644 | -€15,356 | €2,143 | €10,260 | €11,453 | ▲ 11.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €125,991 | €127,205 | €123,085 | €130,893 | €155,742 | ▲ 19.0% |
| Fixed assets21/28 | €84,530 | €99,432 | €86,725 | €79,872 | €83,199 | ▲ 4.2% |
| Intangible fixed assets21 | - | - | - | €1,516 | €965 | ▼ 36.4% |
| Tangible fixed assets22/27 | €84,394 | €99,295 | €86,589 | €78,219 | €82,098 | ▲ 5.0% |
| Land and buildings22 | €74,746 | €68,724 | €62,708 | €56,700 | €64,027 | ▲ 12.9% |
| Plant, machinery and equipment23 | €6,140 | €4,912 | €3,683 | €6,483 | €8,198 | ▲ 26.5% |
| Furniture and vehicles24 | €3,507 | €25,660 | €20,198 | €15,036 | €9,873 | ▼ 34.3% |
| Financial fixed assets28 | €136 | €136 | €136 | €136 | €136 | = |
| Current assets29/58 | €41,461 | €27,773 | €36,360 | €51,021 | €72,544 | ▲ 42.2% |
| Stocks and contracts in progress3 | - | - | - | €9,918 | €5,802 | ▼ 41.5% |
| Stocks30/36 | - | - | - | €9,918 | €5,802 | ▼ 41.5% |
| Amounts receivable within one year40/41 | €11,773 | €23,849 | €20,458 | €20,716 | €22,623 | ▲ 9.2% |
| Trade receivables40 | €10,702 | €23,849 | €20,458 | €20,508 | €22,623 | ▲ 10.3% |
| Other amounts receivable41 | €1,071 | - | - | €208 | - | - |
| Cash at bank and in hand54/58 | €16,007 | €3,924 | €14,932 | €18,920 | €42,918 | ▲ 127% |
| Deferred charges and accrued income490/1 | €13,681 | - | €970 | €1,467 | €1,200 | ▼ 18.2% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €125,991 | €127,205 | €123,085 | €130,893 | €155,742 | ▲ 19.0% |
| Equity10/15 | €113,458 | €98,102 | €100,245 | €110,505 | €121,958 | ▲ 10.4% |
| Contributions10/11 | €8,684 | €8,684 | €8,684 | €8,684 | €8,684 | = |
| Capital10 | €8,684 | - | - | - | - | - |
| Issued capital100 | €18,600 | - | - | - | - | - |
| Uncalled capital101 | €9,916 | - | - | - | - | - |
| Reserves13 | €53,208 | €53,208 | €53,208 | €63,468 | €74,921 | ▲ 18.0% |
| Non-distributable reserves130/1 | €1,860 | €1,860 | - | €1,860 | €1,860 | = |
| Legal reserve130 | €1,860 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | €1,860 | - | - | - | - |
| Other1319 | - | - | - | €1,860 | €1,860 | = |
| Tax-exempt reserves132 | €43,427 | €43,427 | €43,427 | €43,427 | €43,427 | = |
| Distributable reserves133 | €7,921 | €7,921 | €9,781 | €18,181 | €29,634 | ▲ 63.0% |
| Profit (loss) carried forward14 | €51,566 | €36,210 | €38,353 | €38,353 | €38,353 | = |
| Amounts payable17/49 | €12,532 | €29,102 | €22,840 | €20,388 | €33,785 | ▲ 65.7% |
| Amounts payable within one year42/48 | €12,532 | €29,102 | €22,840 | €20,388 | €33,785 | ▲ 65.7% |
| Trade debts44 | €3,929 | €2,912 | €2,189 | €2,626 | €15,384 | ▲ 486% |
| Suppliers440/4 | €3,929 | €2,912 | €2,189 | €2,626 | €15,384 | ▲ 486% |
| Advances received on contracts in progress46 | - | - | - | - | €344 | - |
| Taxes, remuneration and social security45 | €8,603 | €10,857 | €8,479 | €8,725 | €17,095 | ▲ 95.9% |
| Taxes450/3 | €5,014 | €7,268 | €8,479 | €8,725 | €17,095 | ▲ 95.9% |
| Remuneration and social security454/9 | €3,588 | €3,588 | - | - | - | - |
| Other amounts payable47/48 | - | €15,334 | €12,172 | €9,037 | €962 | ▼ 89.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€8,644 | -€15,356 | €2,143 | €10,260 | €11,453 | ▲ 11.6% |
| + Depreciation and write-downs630 | €7,715 | €8,110 | €12,706 | €12,938 | €15,615 | ▲ 20.7% |
| Operating cash flow (approximation) | -€929 | -€7,246 | €14,849 | €23,197 | €27,067 | ▲ 16.7% |
| Investment in fixed assets (approximation) | - | -€23,012 | €0 | -€6,084 | -€18,942 | ▼ 211% |
| Change in cash | - | -€12,083 | €11,008 | €3,988 | €23,998 | ▲ 502% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
16-07
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Highest result since 2018net €11,453 ▲11.6%
Operating result €17,298, net result €11,453, both a record.
14-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
26-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-12
Financial
Back to profitnet €2,143
Net result €2,143 after 5 loss-making years.
31-12
Financial
Equity above €100,000Eq €100,245 ▲2.2%
Equity rises from €98,102 to €100,245.
20-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet -€15,356
Net result drops to -€15,356, the lowest in the series; recovery starts the following year.
25-08
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 25 days late
2021
29-10
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 90 days late
2020
29-12
NBB filing
Annual accounts filed
fiscal year 2019 · abbreviated schema · 151 days late
2019
09-12
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 131 days late
18-03
NBB filing
Annual accounts filed
fiscal year 2017 · abbreviated schema · 230 days late
2017
28-09
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema · 59 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 2 acts read
About the unread acts
We know of 2 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Gent · 1 establishment unit since 1994
Ground area
178 m²
Building footprint
103 m²
Volume, LiDAR
1,169 m³
Parcel 44808H0001/00B034, Flanders · tallest building 19.1 m, ±5 floors. Linked by address, not a title deed.
3
companies at this address
See who is registered here
1 establishment unit
Kortrijksesteenweg 369, 9000 Gent
since 19942.065.626.084
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 44808H0001/00B034 | Flanders | 178 m² | 1 · 103 m² | 19.1 m · 5 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Recognitions · licences · registrations
Food safety, FASFC
1 siteGent2.065.626.084
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Of 9,864 companies in sector 73110 we hold annual accounts for 3,752. 3,005 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded03-11-1993
Fiscal year end31-12
Activities, NACEBEL 2025
73110Advertising agencies
18130Pre-press and pre-media services
47120Other non-specialised retail sale
47279Other retail sale of food
47750Retail sale of cosmetics and toilet articles
58110Book publishing
85599Other education
Scores and ratios are computed by Checked and are not a credit decision.