INDIGO BAY: 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.
INDIGO BAY
Largest movements
- Cash +€31,908
up €31,908 (+11.7%), from €272,787 to €304,695
mainly Net result for the year (+€101,304) and Receivables within one year (+€27,176)
- Receivables within one year -€27,176
down €27,176 (-39.8%), from €68,338 to €41,162
of which Trade receivables: -€22,415
- Tangible fixed assets -€6,294
down €6,294 (-34.9%), from €18,057 to €11,763
of which Furniture and vehicles: -€5,334
- Reserves +€56,304
up €56,304 (+71.6%), from €78,656 to €134,959
of which Distributable reserves: +€56,304
- Other debts -€44,936
down €44,936 (-44.4%), from €101,293 to €56,357
- Trade debts -€7,492
down €7,492 (-20.3%), from €36,929 to €29,437
- Tax, wage and social debts -€5,026
down €5,026 (-15.5%), from €32,423 to €27,397
- Gross operating margin -€21,203
down €21,203 (-11.1%), from €190,845 to €169,641
- Taxes -€7,794
down €7,794 (-14.6%), from €53,361 to €45,567
- Other operating charges -€4,955
down €4,955 (-20.9%), from €23,673 to €18,718
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 | €359,182 | €358,032 | -€1,150 | -0.3% |
| Fixed assets | 21/28 | €18,057 | €11,813 | -€6,244 | -34.6% |
| Tangible fixed assets | 22/27 | €18,057 | €11,763 | -€6,294 | -34.9% |
| Plant, machinery and equipment | 23 | €572 | €82 | -€490 | -85.7% |
| Furniture and vehicles | 24 | €14,724 | €9,391 | -€5,334 | -36.2% |
| Other tangible fixed assets | 26 | €2,760 | €2,291 | -€469 | -17.0% |
| Financial fixed assets | 28 | - | €50 | +€50 | |
| Current assets | 29/58 | €341,125 | €346,219 | +€5,094 | +1.5% |
| Amounts receivable within one year | 40/41 | €68,338 | €41,162 | -€27,176 | -39.8% |
| Trade receivables | 40 | €61,740 | €39,325 | -€22,415 | -36.3% |
| Other amounts receivable | 41 | €6,598 | €1,837 | -€4,761 | -72.2% |
| Cash at bank and in hand | 54/58 | €272,787 | €304,695 | +€31,908 | +11.7% |
| Deferred charges and accrued income | 490/1 | - | €361 | +€361 | |
| Total equity and liabilities | 10/49 | €359,182 | €358,032 | -€1,150 | -0.3% |
| Equity | 10/15 | €188,537 | €244,841 | +€56,304 | +29.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €78,656 | €134,959 | +€56,304 | +71.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €76,796 | €133,099 | +€56,304 | +73.3% |
| Profit (loss) carried forward | 14 | €103,681 | €103,681 | = | 0.0% |
| Amounts payable | 17/49 | €170,645 | €113,191 | -€57,454 | -33.7% |
| Amounts payable within one year | 42/48 | €170,645 | €113,191 | -€57,454 | -33.7% |
| Trade debts | 44 | €36,929 | €29,437 | -€7,492 | -20.3% |
| Suppliers | 440/4 | €36,929 | €29,437 | -€7,492 | -20.3% |
| Taxes, remuneration and social security | 45 | €32,423 | €27,397 | -€5,026 | -15.5% |
| Taxes | 450/3 | €32,423 | €27,397 | -€5,026 | -15.5% |
| Other amounts payable | 47/48 | €101,293 | €56,357 | -€44,936 | -44.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,360 | €6,294 | -€66 | -1.0% |
| Other operating charges | 640/8 | €23,673 | €18,718 | -€4,955 | -20.9% |
| Gross operating margin | 9900 | €190,845 | €169,641 | -€21,203 | -11.1% |
| Operating profit (loss) | 9901 | €160,812 | €144,630 | -€16,182 | -10.1% |
| Financial income | 75/76B | €1,971 | €2,372 | +€401 | +20.3% |
| Recurring financial income | 75 | €1,971 | €2,372 | +€401 | +20.3% |
| Financial charges | 65/66B | €132 | €132 | -€0 | -0.2% |
| Recurring financial charges | 65 | €132 | €132 | -€0 | -0.2% |
| Profit (loss) for the period before taxes | 9903 | €162,651 | €146,870 | -€15,781 | -9.7% |
| Income taxes | 67/77 | €53,361 | €45,567 | -€7,794 | -14.6% |
| Profit (loss) for the period | 9904 | €109,291 | €101,304 | -€7,987 | -7.3% |
| Profit (loss) for the period to be appropriated | 9905 | €109,291 | €101,304 | -€7,987 | -7.3% |
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 10 October 2026 via checked.be.