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
- Cash +€23,998
up €23,998 (+126.8%), from €18,920 to €42,918
mainly Depreciation (+€15,615) and Trade debts (+€12,758)
- Stocks and contracts -€4,116
down €4,116 (-41.5%), from €9,918 to €5,802
- Tangible fixed assets +€3,879
up €3,879 (+5.0%), from €78,219 to €82,098
of which Land and buildings: +€7,326
- Receivables within one year +€1,908
up €1,908 (+9.2%), from €20,716 to €22,623
of which Trade receivables: +€2,116
- Trade debts +€12,758
up €12,758 (+485.9%), from €2,626 to €15,384
- Reserves +€11,453
up €11,453 (+18.0%), from €63,468 to €74,921
of which Distributable reserves: +€11,453
- Tax, wage and social debts +€8,370
up €8,370 (+95.9%), from €8,725 to €17,095
- Other debts -€8,075
down €8,075 (-89.4%), from €9,037 to €962
- Gross operating margin +€4,345
up €4,345 (+14.5%), from €29,942 to €34,287
- Depreciation +€2,677
up €2,677 (+20.7%), from €12,938 to €15,615
- Taxes +€578
up €578 (+11.0%), from €5,246 to €5,823
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 | €130,893 | €155,742 | +€24,850 | +19.0% |
| Fixed assets | 21/28 | €79,872 | €83,199 | +€3,327 | +4.2% |
| Intangible fixed assets | 21 | €1,516 | €965 | -€552 | -36.4% |
| Tangible fixed assets | 22/27 | €78,219 | €82,098 | +€3,879 | +5.0% |
| Land and buildings | 22 | €56,700 | €64,027 | +€7,326 | +12.9% |
| Plant, machinery and equipment | 23 | €6,483 | €8,198 | +€1,715 | +26.5% |
| Furniture and vehicles | 24 | €15,036 | €9,873 | -€5,162 | -34.3% |
| Financial fixed assets | 28 | €136 | €136 | = | 0.0% |
| Current assets | 29/58 | €51,021 | €72,544 | +€21,523 | +42.2% |
| Stocks and contracts in progress | 3 | €9,918 | €5,802 | -€4,116 | -41.5% |
| Stocks | 30/36 | €9,918 | €5,802 | -€4,116 | -41.5% |
| Amounts receivable within one year | 40/41 | €20,716 | €22,623 | +€1,908 | +9.2% |
| Trade receivables | 40 | €20,508 | €22,623 | +€2,116 | +10.3% |
| Other amounts receivable | 41 | €208 | - | -€208 | |
| Cash at bank and in hand | 54/58 | €18,920 | €42,918 | +€23,998 | +126.8% |
| Deferred charges and accrued income | 490/1 | €1,467 | €1,200 | -€266 | -18.2% |
| Total equity and liabilities | 10/49 | €130,893 | €155,742 | +€24,850 | +19.0% |
| Equity | 10/15 | €110,505 | €121,958 | +€11,453 | +10.4% |
| Contributions | 10/11 | €8,684 | €8,684 | = | 0.0% |
| Reserves | 13 | €63,468 | €74,921 | +€11,453 | +18.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €43,427 | €43,427 | = | 0.0% |
| Distributable reserves | 133 | €18,181 | €29,634 | +€11,453 | +63.0% |
| Profit (loss) carried forward | 14 | €38,353 | €38,353 | = | 0.0% |
| Amounts payable | 17/49 | €20,388 | €33,785 | +€13,397 | +65.7% |
| Amounts payable within one year | 42/48 | €20,388 | €33,785 | +€13,397 | +65.7% |
| Trade debts | 44 | €2,626 | €15,384 | +€12,758 | +485.9% |
| Suppliers | 440/4 | €2,626 | €15,384 | +€12,758 | +485.9% |
| Advances received on contracts in progress | 46 | - | €344 | +€344 | |
| Taxes, remuneration and social security | 45 | €8,725 | €17,095 | +€8,370 | +95.9% |
| Taxes | 450/3 | €8,725 | €17,095 | +€8,370 | +95.9% |
| Other amounts payable | 47/48 | €9,037 | €962 | -€8,075 | -89.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,938 | €15,615 | +€2,677 | +20.7% |
| Other operating charges | 640/8 | €1,475 | €1,374 | -€100 | -6.8% |
| Gross operating margin | 9900 | €29,942 | €34,287 | +€4,345 | +14.5% |
| Operating profit (loss) | 9901 | €15,530 | €17,298 | +€1,768 | +11.4% |
| Financial income | 75/76B | €78 | €66 | -€12 | -15.1% |
| Recurring financial income | 75 | €78 | €66 | -€12 | -15.1% |
| Financial charges | 65/66B | €103 | €88 | -€14 | -14.0% |
| Recurring financial charges | 65 | €103 | €88 | -€14 | -14.0% |
| Profit (loss) for the period before taxes | 9903 | €15,505 | €17,276 | +€1,770 | +11.4% |
| Income taxes | 67/77 | €5,246 | €5,823 | +€578 | +11.0% |
| Profit (loss) for the period | 9904 | €10,260 | €11,453 | +€1,193 | +11.6% |
| Profit (loss) for the period to be appropriated | 9905 | €10,260 | €11,453 | +€1,193 | +11.6% |
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 5 October 2026 via checked.be.