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
- Current investments +€31,800
up €31,800 (+39.9%), from €79,602 to €111,403
- Tangible fixed assets -€19,724
down €19,724 (-3.0%), from €654,672 to €634,948
of which Furniture and vehicles: -€15,297
- Receivables within one year -€12,159
down €12,159 (-56.0%), from €21,718 to €9,560
of which Trade receivables: -€10,940
- Debts after one year -€11,387
down €11,387 (-2.7%), from €426,387 to €415,000
of which Financial debts: -€21,387
- Reserves +€8,532
up €8,532 (+6.8%), from €125,173 to €133,705
of which Distributable reserves: +€8,532
- Gross operating margin -€8,138
down €8,138 (-12.5%), from €64,915 to €56,777
- Depreciation +€7,545
up €7,545 (+41.5%), from €18,191 to €25,736
- Taxes -€5,167
down €5,167 (-56.2%), from €9,197 to €4,030
- Financial charges -€1,502
down €1,502 (-7.1%), from €21,102 to €19,600
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 | €758,797 | €759,166 | +€369 | 0.0% |
| Fixed assets | 21/28 | €654,672 | €634,948 | -€19,724 | -3.0% |
| Tangible fixed assets | 22/27 | €654,672 | €634,948 | -€19,724 | -3.0% |
| Land and buildings | 22 | €586,300 | €586,300 | = | 0.0% |
| Plant, machinery and equipment | 23 | €30,739 | €26,312 | -€4,427 | -14.4% |
| Furniture and vehicles | 24 | €37,633 | €22,336 | -€15,297 | -40.6% |
| Current assets | 29/58 | €104,125 | €124,218 | +€20,093 | +19.3% |
| Amounts receivable within one year | 40/41 | €21,718 | €9,560 | -€12,159 | -56.0% |
| Trade receivables | 40 | €17,971 | €7,032 | -€10,940 | -60.9% |
| Other amounts receivable | 41 | €3,747 | €2,528 | -€1,219 | -32.5% |
| Current investments | 50/53 | €79,602 | €111,403 | +€31,800 | +39.9% |
| Cash at bank and in hand | 54/58 | €1,733 | €2,153 | +€420 | +24.2% |
| Deferred charges and accrued income | 490/1 | €1,072 | €1,103 | +€31 | +2.9% |
| Total equity and liabilities | 10/49 | €758,797 | €759,166 | +€369 | 0.0% |
| Equity | 10/15 | €268,181 | €276,713 | +€8,532 | +3.2% |
| Contributions | 10/11 | €84,284 | €84,284 | = | 0.0% |
| Capital | 10 | €84,284 | €84,284 | = | 0.0% |
| Issued capital | 100 | €84,284 | €84,284 | = | 0.0% |
| Reserves | 13 | €125,173 | €133,705 | +€8,532 | +6.8% |
| Non-distributable reserves | 130/1 | €8,428 | €8,428 | = | 0.0% |
| Legal reserve | 130 | €8,428 | €8,428 | = | 0.0% |
| Distributable reserves | 133 | €116,745 | €125,276 | +€8,532 | +7.3% |
| Profit (loss) carried forward | 14 | €58,724 | €58,724 | = | 0.0% |
| Amounts payable | 17/49 | €490,616 | €482,453 | -€8,163 | -1.7% |
| Amounts payable after more than one year | 17 | €426,387 | €415,000 | -€11,387 | -2.7% |
| Financial debts | 170/4 | €21,387 | - | -€21,387 | |
| Other amounts payable | 178/9 | €405,000 | €415,000 | +€10,000 | +2.5% |
| Amounts payable within one year | 42/48 | €62,252 | €67,122 | +€4,870 | +7.8% |
| Current portion of amounts payable after more than one year | 42 | €23,040 | €23,318 | +€278 | +1.2% |
| Trade debts | 44 | €2,058 | €3,900 | +€1,842 | +89.5% |
| Suppliers | 440/4 | €2,058 | €3,900 | +€1,842 | +89.5% |
| Taxes, remuneration and social security | 45 | €11,312 | €7,483 | -€3,829 | -33.9% |
| Taxes | 450/3 | €11,312 | €7,483 | -€3,829 | -33.9% |
| Other amounts payable | 47/48 | €25,841 | €32,421 | +€6,580 | +25.5% |
| Accrued charges and deferred income | 492/3 | €1,977 | €331 | -€1,646 | -83.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,191 | €25,736 | +€7,545 | +41.5% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €64,915 | €56,777 | -€8,138 | -12.5% |
| Operating profit (loss) | 9901 | €46,337 | €30,642 | -€15,695 | -33.9% |
| Financial income | 75/76B | €1,323 | €1,520 | +€197 | +14.9% |
| Recurring financial income | 75 | €1,323 | €1,520 | +€197 | +14.9% |
| Financial charges | 65/66B | €21,102 | €19,600 | -€1,502 | -7.1% |
| Recurring financial charges | 65 | €21,102 | €19,600 | -€1,502 | -7.1% |
| Profit (loss) for the period before taxes | 9903 | €26,557 | €12,562 | -€13,996 | -52.7% |
| Income taxes | 67/77 | €9,197 | €4,030 | -€5,167 | -56.2% |
| Profit (loss) for the period | 9904 | €17,361 | €8,532 | -€8,829 | -50.9% |
| Profit (loss) for the period to be appropriated | 9905 | €17,361 | €8,532 | -€8,829 | -50.9% |
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 2 October 2026 via checked.be.