INDIGO FOCUS: 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 FOCUS
Largest movements
- Cash -€17,326
down €17,326 (-20.4%), from €85,018 to €67,692
mainly Tax, wage and social debts (-€12,727) and Net result for the year (-€11,695)
- Receivables within one year -€7,631
down €7,631 (-95.2%), from €8,016 to €385
of which Trade receivables: -€7,770
- Deferred charges and accrued income +€1,761
up €1,761 (+982.0%), from €179 to €1,941
- Tax, wage and social debts -€12,727
down €12,727 (-75.3%), from €16,899 to €4,172
- Profit (loss) carried forward -€11,695
down €11,695 (-21.3%), from €54,834 to €43,139
- Trade debts +€4,248
up €4,248 (+88.5%), from €4,802 to €9,051
- Other debts -€2,557
down €2,557 (-80.2%), from €3,188 to €631
- Gross operating margin -€36,798
down €36,798, from €30,457 to -€6,341
- Taxes -€8,648
down €8,648 (-98.4%), from €8,789 to €141
- Depreciation +€534
up €534 (+13.6%), from €3,934 to €4,468
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 | €102,116 | €79,386 | -€22,731 | -22.3% |
| Fixed assets | 21/28 | €8,903 | €9,368 | +€465 | +5.2% |
| Tangible fixed assets | 22/27 | €8,853 | €9,318 | +€465 | +5.3% |
| Furniture and vehicles | 24 | €4,853 | €1,010 | -€3,842 | -79.2% |
| Other tangible fixed assets | 26 | €4,000 | €8,308 | +€4,308 | +107.7% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €93,213 | €70,017 | -€23,196 | -24.9% |
| Amounts receivable within one year | 40/41 | €8,016 | €385 | -€7,631 | -95.2% |
| Trade receivables | 40 | €8,016 | €246 | -€7,770 | -96.9% |
| Other amounts receivable | 41 | - | €139 | +€139 | |
| Cash at bank and in hand | 54/58 | €85,018 | €67,692 | -€17,326 | -20.4% |
| Deferred charges and accrued income | 490/1 | €179 | €1,941 | +€1,761 | +982.0% |
| Total equity and liabilities | 10/49 | €102,116 | €79,386 | -€22,731 | -22.3% |
| Equity | 10/15 | €77,227 | €65,532 | -€11,695 | -15.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €17,393 | €17,393 | = | 0.0% |
| Distributable reserves | 133 | €17,393 | €17,393 | = | 0.0% |
| Profit (loss) carried forward | 14 | €54,834 | €43,139 | -€11,695 | -21.3% |
| Amounts payable | 17/49 | €24,889 | €13,853 | -€11,036 | -44.3% |
| Amounts payable within one year | 42/48 | €24,889 | €13,853 | -€11,036 | -44.3% |
| Trade debts | 44 | €4,802 | €9,051 | +€4,248 | +88.5% |
| Suppliers | 440/4 | €4,802 | €9,051 | +€4,248 | +88.5% |
| Taxes, remuneration and social security | 45 | €16,899 | €4,172 | -€12,727 | -75.3% |
| Taxes | 450/3 | €16,899 | €4,172 | -€12,727 | -75.3% |
| Other amounts payable | 47/48 | €3,188 | €631 | -€2,557 | -80.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,934 | €4,468 | +€534 | +13.6% |
| Other operating charges | 640/8 | €183 | €391 | +€209 | +114.3% |
| Gross operating margin | 9900 | €30,457 | -€6,341 | -€36,798 | |
| Operating profit (loss) | 9901 | €26,341 | -€11,200 | -€37,541 | |
| Financial charges | 65/66B | €159 | €354 | +€195 | +122.4% |
| Recurring financial charges | 65 | €159 | €354 | +€195 | +122.4% |
| Profit (loss) for the period before taxes | 9903 | €26,182 | -€11,554 | -€37,735 | |
| Income taxes | 67/77 | €8,789 | €141 | -€8,648 | -98.4% |
| Profit (loss) for the period | 9904 | €17,393 | -€11,695 | -€29,087 | |
| Profit (loss) for the period to be appropriated | 9905 | €17,393 | -€11,695 | -€29,087 |
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 9 October 2026 via checked.be.