L'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.
L'INDIGO
Largest movements
- Intangible fixed assets -€55,000
down €55,000 (-20.6%), from €266,712 to €211,712
- Tangible fixed assets -€17,324
down €17,324 (-12.3%), from €140,975 to €123,650
- Cash +€12,555
up €12,555 (+20.9%), from €60,129 to €72,684
mainly Depreciation (+€95,946) and Short-term financial debts (+€42,700)
- Current portion of long-term debt -€57,552
no longer reported in 2024 (was €57,552)
- Short-term financial debts +€42,700
new in 2024: €42,700
- Debts after one year -€32,074
down €32,074 (-10.1%), from €318,307 to €286,233
- Trade debts -€14,102
down €14,102 (-34.0%), from €41,533 to €27,431
- Tax, wage and social debts +€13,611
up €13,611 (+35.9%), from €37,890 to €51,501
of which Remuneration and social security: +€14,905
- Gross operating margin +€120,243
up €120,243 (+28.8%), from €417,130 to €537,373
- Depreciation +€68,961
up €68,961 (+255.6%), from €26,985 to €95,946
- Staff costs +€37,306
up €37,306 (+9.6%), from €389,412 to €426,718
- Financial charges +€14,682
up €14,682 (+198.7%), from €7,389 to €22,072
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €488,415 | €427,759 | -€60,656 | -12.4% |
| Fixed assets | 21/28 | €408,441 | €336,117 | -€72,324 | -17.7% |
| Intangible fixed assets | 21 | €266,712 | €211,712 | -€55,000 | -20.6% |
| Tangible fixed assets | 22/27 | €140,975 | €123,650 | -€17,324 | -12.3% |
| Plant, machinery and equipment | 23 | €59,795 | €52,855 | -€6,940 | -11.6% |
| Furniture and vehicles | 24 | €24,556 | €19,448 | -€5,108 | -20.8% |
| Leasing and similar rights | 25 | €8,144 | €5,137 | -€3,006 | -36.9% |
| Other tangible fixed assets | 26 | €48,480 | €46,210 | -€2,270 | -4.7% |
| Financial fixed assets | 28 | €754 | €754 | = | 0.0% |
| Current assets | 29/58 | €79,974 | €91,642 | +€11,668 | +14.6% |
| Stocks and contracts in progress | 3 | €9,962 | €13,907 | +€3,945 | +39.6% |
| Stocks | 30/36 | €9,962 | €13,907 | +€3,945 | +39.6% |
| Amounts receivable within one year | 40/41 | €7,468 | €3,005 | -€4,463 | -59.8% |
| Trade receivables | 40 | - | €3,005 | +€3,005 | |
| Other amounts receivable | 41 | €7,468 | - | -€7,468 | |
| Cash at bank and in hand | 54/58 | €60,129 | €72,684 | +€12,555 | +20.9% |
| Deferred charges and accrued income | 490/1 | €2,414 | €2,046 | -€368 | -15.3% |
| Total equity and liabilities | 10/49 | €488,415 | €427,759 | -€60,656 | -12.4% |
| Equity | 10/15 | €20,932 | €11,790 | -€9,142 | -43.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | €6,672 | -€2,470 | -€9,142 | |
| Amounts payable | 17/49 | €467,484 | €415,969 | -€51,515 | -11.0% |
| Amounts payable after more than one year | 17 | €318,307 | €286,233 | -€32,074 | -10.1% |
| Financial debts | 170/4 | €318,307 | €286,233 | -€32,074 | -10.1% |
| Amounts payable within one year | 42/48 | €146,377 | €129,736 | -€16,641 | -11.4% |
| Current portion of amounts payable after more than one year | 42 | €57,552 | - | -€57,552 | |
| Financial debts | 43 | - | €42,700 | +€42,700 | |
| Credit institutions | 430/8 | - | €42,700 | +€42,700 | |
| Trade debts | 44 | €41,533 | €27,431 | -€14,102 | -34.0% |
| Suppliers | 440/4 | €41,533 | €27,431 | -€14,102 | -34.0% |
| Taxes, remuneration and social security | 45 | €37,890 | €51,501 | +€13,611 | +35.9% |
| Taxes | 450/3 | €13,747 | €12,454 | -€1,294 | -9.4% |
| Remuneration and social security | 454/9 | €24,143 | €39,048 | +€14,905 | +61.7% |
| Other amounts payable | 47/48 | €9,401 | €8,104 | -€1,298 | -13.8% |
| Accrued charges and deferred income | 492/3 | €2,800 | - | -€2,800 | |
| Non-recurring operating income | 76A | €2,807 | €8,676 | +€5,869 | +209.1% |
| Remuneration, social security and pensions | 62 | €389,412 | €426,718 | +€37,306 | +9.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,985 | €95,946 | +€68,961 | +255.6% |
| Other operating charges | 640/8 | €1,901 | €564 | -€1,337 | -70.3% |
| Non-recurring operating charges | 66A | €200 | - | -€200 | |
| Gross operating margin | 9900 | €417,130 | €537,373 | +€120,243 | +28.8% |
| Operating profit (loss) | 9901 | -€1,368 | €14,145 | +€15,513 | |
| Financial charges | 65/66B | €7,389 | €22,072 | +€14,682 | +198.7% |
| Recurring financial charges | 65 | €7,389 | €22,072 | +€14,682 | +198.7% |
| Profit (loss) for the period before taxes | 9903 | -€8,757 | -€7,927 | +€831 | +9.5% |
| Income taxes | 67/77 | €1,547 | €1,215 | -€332 | -21.5% |
| Profit (loss) for the period | 9904 | -€10,304 | -€9,142 | +€1,163 | +11.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,304 | -€9,142 | +€1,163 | +11.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.