INDIBLUE: 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.
INDIBLUE
Largest movements
- Cash +€24,644
up €24,644 (+10.6%), from €232,780 to €257,424
mainly Net result for the year (+€20,073) and Tax, wage and social debts (+€4,353)
- Reserves +€20,070
up €20,070 (+17.5%), from €114,770 to €134,840
of which Distributable reserves: +€20,070
- Tax, wage and social debts +€4,353
up €4,353 (+319%), from €1,365 to €5,718
- Gross operating margin +€9,398
up €9,398 (+34.8%), from €27,013 to €36,411
- Taxes +€2,743
up €2,743 (+28.4%), from €9,672 to €12,414
- Depreciation +€509
up €509 (+506%), from €101 to €610
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 | €242,385 | €266,994 | +€24,609 | +10.2% |
| Fixed assets | 21/28 | €1,338 | €1,728 | +€390 | +29.2% |
| Tangible fixed assets | 22/27 | €1,338 | €1,728 | +€390 | +29.2% |
| Plant, machinery and equipment | 23 | €574 | €451 | -€123 | -21.5% |
| Furniture and vehicles | 24 | €764 | €1,278 | +€513 | +67.2% |
| Current assets | 29/58 | €241,047 | €265,266 | +€24,219 | +10.0% |
| Amounts receivable within one year | 40/41 | €6,986 | €5,813 | -€1,173 | -16.8% |
| Trade receivables | 40 | €6,986 | €5,813 | -€1,173 | -16.8% |
| Cash at bank and in hand | 54/58 | €232,780 | €257,424 | +€24,644 | +10.6% |
| Deferred charges and accrued income | 490/1 | €1,281 | €2,028 | +€747 | +58.3% |
| Total equity and liabilities | 10/49 | €242,385 | €266,994 | +€24,609 | +10.2% |
| Equity | 10/15 | €133,953 | €154,025 | +€20,073 | +15.0% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €114,770 | €134,840 | +€20,070 | +17.5% |
| Non-distributable reserves | 130/1 | €1,250 | €1,250 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,250 | €1,250 | = | 0.0% |
| Distributable reserves | 133 | €113,520 | €133,590 | +€20,070 | +17.7% |
| Profit (loss) carried forward | 14 | €183 | €185 | +€3 | +1.4% |
| Amounts payable | 17/49 | €108,432 | €112,968 | +€4,536 | +4.2% |
| Amounts payable after more than one year | 17 | €100,000 | €100,000 | = | 0.0% |
| Financial debts | 170/4 | €100,000 | €100,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €2,732 | €7,268 | +€4,536 | +166% |
| Trade debts | 44 | €146 | €351 | +€205 | +140% |
| Suppliers | 440/4 | €146 | €351 | +€205 | +140% |
| Taxes, remuneration and social security | 45 | €1,365 | €5,718 | +€4,353 | +319% |
| Taxes | 450/3 | €1,365 | €5,718 | +€4,353 | +319% |
| Other amounts payable | 47/48 | €1,221 | €1,200 | -€22 | -1.8% |
| Accrued charges and deferred income | 492/3 | €5,700 | €5,700 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101 | €610 | +€509 | +506% |
| Other operating charges | 640/8 | €1,333 | €1,406 | +€73 | +5.5% |
| Gross operating margin | 9900 | €27,013 | €36,411 | +€9,398 | +34.8% |
| Operating profit (loss) | 9901 | €25,579 | €34,395 | +€8,816 | +34.5% |
| Financial income | 75/76B | €3,960 | €3,873 | -€87 | -2.2% |
| Recurring financial income | 75 | €3,960 | €3,873 | -€87 | -2.2% |
| Financial charges | 65/66B | €5,737 | €5,781 | +€44 | +0.8% |
| Recurring financial charges | 65 | €5,737 | €5,781 | +€44 | +0.8% |
| Profit (loss) for the period before taxes | 9903 | €23,803 | €32,487 | +€8,684 | +36.5% |
| Income taxes | 67/77 | €9,672 | €12,414 | +€2,743 | +28.4% |
| Profit (loss) for the period | 9904 | €14,131 | €20,073 | +€5,941 | +42.0% |
| Profit (loss) for the period to be appropriated | 9905 | €14,131 | €20,073 | +€5,941 | +42.0% |
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 14 October 2026 via checked.be.