Indigho: 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.
Indigho
Largest movements
- Tangible fixed assets -€43,746
down €43,746 (-7.9%), from €556,927 to €513,181
of which Land and buildings: -€34,970
- Receivables within one year +€7,883
up €7,883 (+355%), from €2,221 to €10,104
of which Trade receivables: +€9,838
- Cash -€7,542
down €7,542 (-70.2%), from €10,750 to €3,207
mainly Debts after one year (-€28,500) and Trade debts (-€12,347)
- Stocks and contracts +€7,000
up €7,000 (+13.5%), from €51,902 to €58,902
- Debts after one year -€28,500
down €28,500 (-16.7%), from €171,000 to €142,500
- Trade debts -€12,347
no longer reported in 2025 (was €12,347)
- Other debts +€10,042
up €10,042 (+53.2%), from €18,880 to €28,922
- Financial charges -€5,766
down €5,766 (-86.6%), from €6,657 to €891
- Gross operating margin -€1,332
down €1,332 (-2.9%), from €45,639 to €44,307
- Depreciation -€1,270
down €1,270 (-2.7%), from €47,013 to €45,744
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 | €622,377 | €585,550 | -€36,826 | -5.9% |
| Fixed assets | 21/28 | €556,927 | €513,181 | -€43,746 | -7.9% |
| Tangible fixed assets | 22/27 | €556,927 | €513,181 | -€43,746 | -7.9% |
| Land and buildings | 22 | €534,914 | €499,943 | -€34,970 | -6.5% |
| Plant, machinery and equipment | 23 | €1,556 | €675 | -€881 | -56.6% |
| Furniture and vehicles | 24 | €10,398 | €5,018 | -€5,379 | -51.7% |
| Other tangible fixed assets | 26 | €10,060 | €7,545 | -€2,515 | -25.0% |
| Current assets | 29/58 | €65,449 | €72,369 | +€6,920 | +10.6% |
| Stocks and contracts in progress | 3 | €51,902 | €58,902 | +€7,000 | +13.5% |
| Stocks | 30/36 | €51,902 | €58,902 | +€7,000 | +13.5% |
| Amounts receivable within one year | 40/41 | €2,221 | €10,104 | +€7,883 | +355% |
| Trade receivables | 40 | €266 | €10,104 | +€9,838 | +3,699% |
| Other amounts receivable | 41 | €1,955 | - | -€1,955 | |
| Cash at bank and in hand | 54/58 | €10,750 | €3,207 | -€7,542 | -70.2% |
| Deferred charges and accrued income | 490/1 | €577 | €156 | -€421 | -72.9% |
| Total equity and liabilities | 10/49 | €622,377 | €585,550 | -€36,826 | -5.9% |
| Equity | 10/15 | €355,260 | €349,662 | -€5,598 | -1.6% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €274,320 | €274,320 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €300 | €300 | = | 0.0% |
| Distributable reserves | 133 | €267,870 | €267,870 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€3,438 | -€3,438 | |
| Investment grants | 15 | €19,440 | €17,280 | -€2,160 | -11.1% |
| Amounts payable | 17/49 | €267,117 | €235,888 | -€31,229 | -11.7% |
| Amounts payable after more than one year | 17 | €171,000 | €142,500 | -€28,500 | -16.7% |
| Financial debts | 170/4 | €171,000 | €142,500 | -€28,500 | -16.7% |
| Amounts payable within one year | 42/48 | €61,557 | €57,835 | -€3,722 | -6.0% |
| Current portion of amounts payable after more than one year | 42 | €28,500 | €28,500 | = | 0.0% |
| Trade debts | 44 | €12,347 | - | -€12,347 | |
| Suppliers | 440/4 | €12,347 | - | -€12,347 | |
| Taxes, remuneration and social security | 45 | €1,830 | €413 | -€1,417 | -77.4% |
| Taxes | 450/3 | €1,830 | €413 | -€1,417 | -77.4% |
| Other amounts payable | 47/48 | €18,880 | €28,922 | +€10,042 | +53.2% |
| Accrued charges and deferred income | 492/3 | €34,560 | €35,553 | +€993 | +2.9% |
| Non-recurring operating income | 76A | - | €213 | +€213 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,013 | €45,744 | -€1,270 | -2.7% |
| Other operating charges | 640/8 | €2,973 | €3,132 | +€159 | +5.4% |
| Gross operating margin | 9900 | €45,639 | €44,307 | -€1,332 | -2.9% |
| Operating profit (loss) | 9901 | -€4,347 | -€4,569 | -€222 | -5.1% |
| Financial income | 75/76B | €2,258 | €2,168 | -€90 | -4.0% |
| Recurring financial income | 75 | €2,258 | €2,168 | -€90 | -4.0% |
| Financial charges | 65/66B | €6,657 | €891 | -€5,766 | -86.6% |
| Recurring financial charges | 65 | €6,657 | €891 | -€5,766 | -86.6% |
| Profit (loss) for the period before taxes | 9903 | -€8,746 | -€3,292 | +€5,454 | +62.4% |
| Income taxes | 67/77 | €144 | €146 | +€2 | +1.1% |
| Profit (loss) for the period | 9904 | -€8,890 | -€3,438 | +€5,453 | +61.3% |
| Transfer from tax-exempt reserves | 789 | €42,100 | - | -€42,100 | |
| Profit (loss) for the period to be appropriated | 9905 | €33,210 | -€3,438 | -€36,647 |
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 17 October 2026 via checked.be.