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
- Receivables within one year +€9,615
up €9,615 (+302.8%), from €3,175 to €12,790
of which Other amounts receivable: +€9,476
- Cash +€1,859
up €1,859 (+70.2%), from €2,649 to €4,508
mainly Net result for the year (+€13,365) and Trade debts (+€1,278)
- Stocks and contracts -€1,057
down €1,057 (-26.1%), from €4,053 to €2,996
- Tangible fixed assets -€1,009
down €1,009 (-16.9%), from €5,972 to €4,964
of which Other tangible fixed assets: -€731
- Deferred charges and accrued income +€344
up €344 (+194.1%), from €177 to €521
- Profit (loss) carried forward +€13,365
up €13,365 (+36.2%), from -€36,888 to -€23,523
- Other debts -€2,958
down €2,958 (-84.0%), from €3,520 to €562
- Debts after one year -€2,216
down €2,216 (-65.5%), from €3,385 to €1,169
- Trade debts +€1,278
up €1,278 (+20.5%), from €6,228 to €7,506
- Gross operating margin -€12,750
down €12,750 (-23.6%), from €54,091 to €41,341
- Staff costs -€11,552
down €11,552 (-39.3%), from €29,413 to €17,860
- Financial charges -€1,194
down €1,194 (-41.2%), from €2,897 to €1,703
- Taxes -€881
down €881 (-12.0%), from €7,322 to €6,442
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 | €16,151 | €25,904 | +€9,753 | +60.4% |
| Fixed assets | 21/28 | €6,096 | €5,088 | -€1,009 | -16.5% |
| Tangible fixed assets | 22/27 | €5,972 | €4,964 | -€1,009 | -16.9% |
| Furniture and vehicles | 24 | €278 | €0 | -€278 | -100.0% |
| Other tangible fixed assets | 26 | €5,695 | €4,964 | -€731 | -12.8% |
| Financial fixed assets | 28 | €124 | €124 | = | 0.0% |
| Current assets | 29/58 | €10,054 | €20,816 | +€10,762 | +107.0% |
| Stocks and contracts in progress | 3 | €4,053 | €2,996 | -€1,057 | -26.1% |
| Stocks | 30/36 | €4,053 | €2,996 | -€1,057 | -26.1% |
| Amounts receivable within one year | 40/41 | €3,175 | €12,790 | +€9,615 | +302.8% |
| Trade receivables | 40 | €3,175 | €3,315 | +€140 | +4.4% |
| Other amounts receivable | 41 | - | €9,476 | +€9,476 | |
| Cash at bank and in hand | 54/58 | €2,649 | €4,508 | +€1,859 | +70.2% |
| Deferred charges and accrued income | 490/1 | €177 | €521 | +€344 | +194.1% |
| Total equity and liabilities | 10/49 | €16,151 | €25,904 | +€9,753 | +60.4% |
| Equity | 10/15 | -€18,296 | -€4,931 | +€13,365 | +73.0% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,888 | -€23,523 | +€13,365 | +36.2% |
| Amounts payable | 17/49 | €34,447 | €30,835 | -€3,612 | -10.5% |
| Amounts payable after more than one year | 17 | €3,385 | €1,169 | -€2,216 | -65.5% |
| Financial debts | 170/4 | €3,385 | €1,169 | -€2,216 | -65.5% |
| Amounts payable within one year | 42/48 | €31,061 | €29,666 | -€1,396 | -4.5% |
| Current portion of amounts payable after more than one year | 42 | €2,063 | €2,216 | +€154 | +7.4% |
| Trade debts | 44 | €6,228 | €7,506 | +€1,278 | +20.5% |
| Suppliers | 440/4 | €6,228 | €7,506 | +€1,278 | +20.5% |
| Taxes, remuneration and social security | 45 | €19,250 | €19,381 | +€131 | +0.7% |
| Taxes | 450/3 | €14,951 | €19,381 | +€4,430 | +29.6% |
| Remuneration and social security | 454/9 | €4,299 | €0 | -€4,299 | -100.0% |
| Other amounts payable | 47/48 | €3,520 | €562 | -€2,958 | -84.0% |
| Remuneration, social security and pensions | 62 | €29,413 | €17,860 | -€11,552 | -39.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,009 | €1,009 | +€0 | 0.0% |
| Other operating charges | 640/8 | €659 | €1,147 | +€488 | +74.1% |
| Gross operating margin | 9900 | €54,091 | €41,341 | -€12,750 | -23.6% |
| Operating profit (loss) | 9901 | €23,011 | €21,325 | -€1,686 | -7.3% |
| Financial income | 75/76B | €82 | €185 | +€102 | +124.3% |
| Recurring financial income | 75 | €82 | €185 | +€102 | +124.3% |
| Financial charges | 65/66B | €2,897 | €1,703 | -€1,194 | -41.2% |
| Recurring financial charges | 65 | €2,897 | €1,703 | -€1,194 | -41.2% |
| Profit (loss) for the period before taxes | 9903 | €20,196 | €19,807 | -€390 | -1.9% |
| Income taxes | 67/77 | €7,322 | €6,442 | -€881 | -12.0% |
| Profit (loss) for the period | 9904 | €12,874 | €13,365 | +€491 | +3.8% |
| Profit (loss) for the period to be appropriated | 9905 | €12,874 | €13,365 | +€491 | +3.8% |
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 6 October 2026 via checked.be.