INDIGO: what changed
Two fiscal 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.
INDIGO
Largest movements
- Stocks and contracts -€180,000
down €180,000 (-61.0%), from €295,000 to €115,000
- Cash +€49,510
up €49,510 (+459.7%), from €10,770 to €60,279
mainly Stocks and contracts (+€180,000) and Net result for the year (+€76,885)
- Other debts -€146,811
down €146,811 (-94.9%), from €154,649 to €7,838
- Reserves +€15,339
up €15,339 (+4.0%), from €379,668 to €395,007
- Gross operating margin +€18,043
up €18,043 (+19.8%), from €91,240 to €109,283
- Taxes +€9,290
up €9,290 (+43.5%), from €21,375 to €30,664
- Financial charges -€6,466
down €6,466 (-98.2%), from €6,586 to €120
- Other operating charges -€5,136
down €5,136 (-90.3%), from €5,685 to €549
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.
Cash bridge derived
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 | €574,417 | €444,690 | -€129,727 | -22.6% |
| Fixed assets | 21/28 | €12,145 | €12,384 | +€239 | +2.0% |
| Tangible fixed assets | 22/27 | €5,215 | €5,454 | +€239 | +4.6% |
| Furniture and vehicles | 24 | €5,215 | €5,454 | +€239 | +4.6% |
| Financial fixed assets | 28 | €6,930 | €6,930 | = | 0.0% |
| Current assets | 29/58 | €562,272 | €432,306 | -€129,966 | -23.1% |
| Stocks and contracts in progress | 3 | €295,000 | €115,000 | -€180,000 | -61.0% |
| Stocks | 30/36 | €295,000 | €115,000 | -€180,000 | -61.0% |
| Amounts receivable within one year | 40/41 | €252,056 | €257,027 | +€4,970 | +2.0% |
| Trade receivables | 40 | €19,390 | €19,360 | -€30 | -0.2% |
| Other amounts receivable | 41 | €232,667 | €237,667 | +€5,000 | +2.1% |
| Cash at bank and in hand | 54/58 | €10,770 | €60,279 | +€49,510 | +459.7% |
| Deferred charges and accrued income | 490/1 | €4,446 | - | -€4,446 | |
| Total equity and liabilities | 10/49 | €574,417 | €444,690 | -€129,727 | -22.6% |
| Equity | 10/15 | €398,268 | €413,607 | +€15,339 | +3.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €379,668 | €395,007 | +€15,339 | +4.0% |
| Distributable reserves | 133 | €379,668 | €395,007 | +€15,339 | +4.0% |
| Amounts payable | 17/49 | €176,149 | €31,083 | -€145,066 | -82.4% |
| Amounts payable within one year | 42/48 | €174,119 | €29,203 | -€144,916 | -83.2% |
| Trade debts | 44 | €2,152 | €150 | -€2,002 | -93.0% |
| Suppliers | 440/4 | €2,152 | €150 | -€2,002 | -93.0% |
| Taxes, remuneration and social security | 45 | €17,318 | €21,215 | +€3,897 | +22.5% |
| Taxes | 450/3 | €17,318 | €21,215 | +€3,897 | +22.5% |
| Other amounts payable | 47/48 | €154,649 | €7,838 | -€146,811 | -94.9% |
| Accrued charges and deferred income | 492/3 | €2,030 | €1,880 | -€150 | -7.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,278 | €1,065 | -€213 | -16.7% |
| Other operating charges | 640/8 | €5,685 | €549 | -€5,136 | -90.3% |
| Gross operating margin | 9900 | €91,240 | €109,283 | +€18,043 | +19.8% |
| Operating profit (loss) | 9901 | €84,277 | €107,669 | +€23,392 | +27.8% |
| Financial charges | 65/66B | €6,586 | €120 | -€6,466 | -98.2% |
| Recurring financial charges | 65 | €6,586 | €120 | -€6,466 | -98.2% |
| Profit (loss) for the period before taxes | 9903 | €77,690 | €107,549 | +€29,859 | +38.4% |
| Income taxes | 67/77 | €21,375 | €30,664 | +€9,290 | +43.5% |
| Profit (loss) for the period | 9904 | €56,316 | €76,885 | +€20,569 | +36.5% |
| Profit (loss) for the period to be appropriated | 9905 | €56,316 | €76,885 | +€20,569 | +36.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.