INDIGO MANAGEMENT: 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 MANAGEMENT
Largest movements
- Receivables within one year +€180,428
up €180,428 (+141%), from €127,817 to €308,245
of which Other amounts receivable: +€182,028
- Tangible fixed assets -€39,058
down €39,058 (-10.7%), from €366,240 to €327,182
- Cash +€31,514
up €31,514 (+4,322%), from €729 to €32,243
mainly Net result for the year (+€185,283) and Tax, wage and social debts (+€85,643)
- Tax, wage and social debts +€85,643
up €85,643 (+90.4%), from €94,778 to €180,421
- Profit (loss) carried forward +€85,283
up €85,283 (+176%), from €48,451 to €133,734
- Other debts +€73,045
up €73,045 (+94.9%), from €76,955 to €150,000
- Reserves -€50,000
down €50,000 (-17.9%), from €278,564 to €228,564
- Debts after one year -€9,694
down €9,694 (-14.4%), from €67,547 to €57,853
- Gross operating margin +€117,214
up €117,214 (+55.4%), from €211,455 to €328,669
- Taxes +€31,302
up €31,302 (+57.3%), from €54,620 to €85,923
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.
Derived cash bridge
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 | €653,575 | €827,328 | +€173,752 | +26.6% |
| Fixed assets | 21/28 | €366,240 | €327,182 | -€39,058 | -10.7% |
| Tangible fixed assets | 22/27 | €366,240 | €327,182 | -€39,058 | -10.7% |
| Land and buildings | 22 | €197,796 | €184,610 | -€13,186 | -6.7% |
| Plant, machinery and equipment | 23 | €9,352 | €6,060 | -€3,292 | -35.2% |
| Furniture and vehicles | 24 | €30,466 | €25,939 | -€4,527 | -14.9% |
| Other tangible fixed assets | 26 | €128,626 | €110,573 | -€18,053 | -14.0% |
| Current assets | 29/58 | €287,335 | €500,146 | +€212,810 | +74.1% |
| Amounts receivable after more than one year | 29 | €152,880 | €154,620 | +€1,740 | +1.1% |
| Other amounts receivable | 291 | €152,880 | €154,620 | +€1,740 | +1.1% |
| Amounts receivable within one year | 40/41 | €127,817 | €308,245 | +€180,428 | +141% |
| Trade receivables | 40 | €2,140 | €540 | -€1,601 | -74.8% |
| Other amounts receivable | 41 | €125,676 | €307,705 | +€182,028 | +145% |
| Cash at bank and in hand | 54/58 | €729 | €32,243 | +€31,514 | +4,322% |
| Deferred charges and accrued income | 490/1 | €5,910 | €5,038 | -€871 | -14.7% |
| Total equity and liabilities | 10/49 | €653,575 | €827,328 | +€173,752 | +26.6% |
| Equity | 10/15 | €345,616 | €380,898 | +€35,283 | +10.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €278,564 | €228,564 | -€50,000 | -17.9% |
| Distributable reserves | 133 | €278,564 | €228,564 | -€50,000 | -17.9% |
| Profit (loss) carried forward | 14 | €48,451 | €133,734 | +€85,283 | +176% |
| Amounts payable | 17/49 | €307,960 | €446,429 | +€138,470 | +45.0% |
| Amounts payable after more than one year | 17 | €67,547 | €57,853 | -€9,694 | -14.4% |
| Financial debts | 170/4 | €67,547 | €57,853 | -€9,694 | -14.4% |
| Amounts payable within one year | 42/48 | €240,413 | €388,577 | +€148,164 | +61.6% |
| Current portion of amounts payable after more than one year | 42 | €12,266 | €9,694 | -€2,571 | -21.0% |
| Trade debts | 44 | €56,414 | €48,462 | -€7,953 | -14.1% |
| Suppliers | 440/4 | €56,414 | €48,462 | -€7,953 | -14.1% |
| Taxes, remuneration and social security | 45 | €94,778 | €180,421 | +€85,643 | +90.4% |
| Taxes | 450/3 | €94,778 | €180,421 | +€85,643 | +90.4% |
| Other amounts payable | 47/48 | €76,955 | €150,000 | +€73,045 | +94.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,658 | €51,780 | -€878 | -1.7% |
| Other operating charges | 640/8 | €4,529 | €4,924 | +€395 | +8.7% |
| Gross operating margin | 9900 | €211,455 | €328,669 | +€117,214 | +55.4% |
| Operating profit (loss) | 9901 | €154,268 | €271,964 | +€117,696 | +76.3% |
| Financial income | 75/76B | €4,769 | €6,655 | +€1,885 | +39.5% |
| Recurring financial income | 75 | €4,769 | €6,655 | +€1,885 | +39.5% |
| Financial charges | 65/66B | €6,882 | €7,414 | +€532 | +7.7% |
| Recurring financial charges | 65 | €6,882 | €7,414 | +€532 | +7.7% |
| Profit (loss) for the period before taxes | 9903 | €152,155 | €271,205 | +€119,050 | +78.2% |
| Income taxes | 67/77 | €54,620 | €85,923 | +€31,302 | +57.3% |
| Profit (loss) for the period | 9904 | €97,535 | €185,283 | +€87,748 | +90.0% |
| Profit (loss) for the period to be appropriated | 9905 | €97,535 | €185,283 | +€87,748 | +90.0% |
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 18 October 2026 via checked.be.