Neptunus
ActiveSummary
Neptunus has been active since 1999 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show negative equity (-€110,902) and a net result of €11,072. Equity is growing by ~24.6% per year across the filed fiscal years. Its solvency ranks better than 9% of 694 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability41▼-31
Solvency12▲+1
Growth78=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity ample (current ratio 4.13 against 3.67 in 2024; short-term debt: 22% and cash: 9.1% of total assets), but equity is negative.
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Signals
Four signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 85
Relative position
BE, all sectors
reference
Education (NACE 85)
about 77% fewer bankruptcies
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
raises risk · Weak solvency vs sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 9% of 694 sector peers (2025).
NBB · sector comparisonPosition among 694 sector peers
Solvency
better than 9%
← weakest
strongest →
neutral · Latest accounts filed on time
The financial year that closed on 30-09-2025 was due by 30-04-2026 and was filed on 28-04-2026, 2 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
2 d early
2024
1 d early
2023
on the day
2022
2 d early
2021
36 d early
2020
32 d early
2018
14 d late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 8 days before the deadline; the sector median for financial year 2024 is 16 days before the deadline, and 32% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 30-09-2026 and is due by 30-04-2027. Nothing is late today. Usually files around 28 April (4 of the last 5 filed years within 30 days of that day).
Companies Code · seven monthsPosition in the running window
30-09-2026 close30-09-2026 today30-04-2027 deadline
History
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Financials · fiscal year 2025, abbreviated schema
Equity
-€110,902▲ 9.1%
2024 · -€121,974
Total assets
€883,389▼ 1.7%
2024 · €898,947
Net result
€11,072▼ 56.1%
2024 · €25,213
Working capital
€609,059▲ 3.4%
2024 · €588,884
Trend over the years
In euros
In per cent
Ratio
In euros
No line ticked in this group.
In per cent
No line ticked in this group.
Ratio
No line ticked in this group.
Untick a line to hide it. Point at a year (or use the arrow keys on the chart) for the exact figures; the table below gives them all.Sector: the middle half (P25 to P75) of NACE 85, Education, each year against the same schema; no band under 30 filings. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA).
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€63,223▲ 74.4%€104,949▲ 66.0%€24,702▼ 76.5%€13,774▼ 44.2%€294▼ 97.9%
Net result€63,270within the sector's middle half▲ 75.7%€104,788within the sector's middle half▲ 65.6%€24,610within the sector's middle half▼ 76.5%€25,213within the sector's middle half▲ 2.4%€11,072within the sector's middle half▼ 56.1%
Equity-€276,585below the sector's middle half▲ 18.6%-€171,797below the sector's middle half▲ 37.9%-€147,187below the sector's middle half▲ 14.3%-€121,974below the sector's middle half▲ 17.1%-€110,902below the sector's middle half▲ 9.1%
Total assets€736,807within the sector's middle half▲ 9.7%€828,971within the sector's middle half▲ 12.5%€857,391within the sector's middle half▲ 3.4%€898,947within the sector's middle half▲ 4.8%€883,389within the sector's middle half▼ 1.7%
Debt€1.0m▲ 0.2%€1.0m▼ 1.2%€1.0m▲ 0.4%€1.0m▲ 1.6%€994,291▼ 2.6%
Working capital€488,895within the sector's middle half▲ 12.2%€555,646within the sector's middle half▲ 13.7%€591,610within the sector's middle half▲ 6.5%€588,884within the sector's middle half▼ 0.5%€609,059within the sector's middle half▲ 3.4%
Solvency-37.5%below the sector's middle half▲ 13.1pp-20.7%below the sector's middle half▲ 16.8pp-17.2%below the sector's middle half▲ 3.6pp-13.6%below the sector's middle half▲ 3.6pp-12.6%below the sector's middle half▲ 1.0pp
Current ratio3.29within the sector's middle half▲ 0.233.77within the sector's middle half▲ 0.483.89within the sector's middle half▲ 0.123.67within the sector's middle half▼ 0.234.13within the sector's middle half▲ 0.47
Return on assets (ROA)8.6%above the sector's middle half▲ 3.2pp12.6%above the sector's middle half▲ 4.1pp2.9%within the sector's middle half▼ 9.8pp2.8%within the sector's middle half▼ 0.1pp1.3%within the sector's middle half▼ 1.6pp
above
within
below
the middle half (P25 to P75) of NACE 85, Education, each year against the same schema; no band under 30 filings.
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has fallen three years in a row; 2025 is 98% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €883,389
Fixed assets
€80,039 ▼ 10.2%
Current assets
€803,350 ▼ 0.8%
Key figures and ratios
EBITDA
€10,454▼
2024 · €18,480
Cash flow
€21,232▼
2024 · €29,919
Quick ratio
1.46▼
2024 · 3.67
Debt to equity
-8.97▼
2024 · -8.37
Interest coverage
-158.49▼
2024 · 139.88
Debt ≤ 1 year
€194,291▼
2024 · €220,921
Debt > 1 year
€800,000=
2024 · €800,000
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Peer companies
Historical observationOf the 518 companies that looked in July 2024 the way this one looks now, 2.9% went bankrupt within 24 months and 92% are still going.
- Small
- 20 years or older
- negative equity
- a profit under 5% of the balance sheet
2.9%
went bankrupt
3.9%
stopped otherwise
92%
still going
A further 1.5% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.1% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,340 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 1.0% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 518 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12,249 | €12,266 | €12,735 | €4,706 | €10,160 | ▲ 116% |
| Other operating charges640/8 | - | €861 | €868 | €1,043 | €1,933 | ▲ 85.3% |
| Gross operating margin9900 | €76,275 | €118,076 | €38,305 | €19,523 | €12,387 | ▼ 36.6% |
| Operating profit (loss)9901 | €63,223 | €104,949 | €24,702 | €13,774 | €294 | ▼ 97.9% |
| Financial income75/76B | - | €0 | €1 | €14,571 | €10,712 | ▼ 26.5% |
| Recurring financial income75 | €125 | €0 | €1 | €14,571 | €10,712 | ▼ 26.5% |
| Financial charges65/66B | - | €161 | €93 | €3,132 | -€66 | ▼ 102% |
| Recurring financial charges65 | €78 | €161 | €93 | €132 | -€66 | ▼ 150% |
| Non-recurring financial charges66B | - | - | - | €3,000 | - | - |
| Profit (loss) for the period before taxes9903 | €63,270 | €104,788 | €24,610 | €25,213 | €11,072 | ▼ 56.1% |
| Profit (loss) for the period9904 | €63,270 | €104,788 | €24,610 | €25,213 | €11,072 | ▼ 56.1% |
| Profit (loss) for the period to be appropriated9905 | €63,270 | €104,788 | €24,610 | €25,213 | €11,072 | ▼ 56.1% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €736,807 | €828,971 | €857,391 | €898,947 | €883,389 | ▼ 1.7% |
| Fixed assets21/28 | €34,520 | €72,557 | €61,203 | €89,142 | €80,039 | ▼ 10.2% |
| Tangible fixed assets22/27 | €34,520 | €72,557 | €61,203 | €89,142 | €80,039 | ▼ 10.2% |
| Plant, machinery and equipment23 | - | €67,146 | €57,372 | €86,784 | €77,444 | ▼ 10.8% |
| Furniture and vehicles24 | - | €642 | €941 | €247 | €930 | ▲ 276% |
| Other tangible fixed assets26 | - | €4,769 | €2,889 | €2,111 | €1,665 | ▼ 21.1% |
| Current assets29/58 | €702,286 | €756,414 | €796,188 | €809,805 | €803,350 | ▼ 0.8% |
| Stocks and contracts in progress3 | €3,000 | €3,000 | €3,000 | - | €519,115 | - |
| Stocks30/36 | - | €3,000 | €3,000 | - | €519,115 | - |
| Amounts receivable within one year40/41 | €70 | €1,289 | - | €29,471 | €3,666 | ▼ 87.6% |
| Trade receivables40 | - | €1,289 | - | €28,853 | €448 | ▼ 98.4% |
| Other amounts receivable41 | - | - | - | €618 | €3,218 | ▲ 421% |
| Current investments50/53 | - | - | €700,000 | €740,000 | €200,000 | ▼ 73.0% |
| Cash at bank and in hand54/58 | €697,795 | €750,837 | €91,998 | €38,871 | €80,076 | ▲ 106% |
| Deferred charges and accrued income490/1 | - | €1,289 | €1,190 | €1,463 | €494 | ▼ 66.3% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €736,807 | €828,971 | €857,391 | €898,947 | €883,389 | ▼ 1.7% |
| Equity10/15 | -€276,585 | -€171,797 | -€147,187 | -€121,974 | -€110,902 | ▲ 9.1% |
| Contributions10/11 | - | €43,400 | €43,400 | €43,400 | €43,400 | = |
| Profit (loss) carried forward14 | -€319,985 | -€215,197 | -€190,587 | -€165,374 | -€154,302 | ▲ 6.7% |
| Amounts payable17/49 | €1.0m | €1.0m | €1.0m | €1.0m | €994,291 | ▼ 2.6% |
| Amounts payable after more than one year17 | €800,000 | €800,000 | €800,000 | €800,000 | €800,000 | = |
| Other amounts payable178/9 | - | €800,000 | €800,000 | €800,000 | €800,000 | = |
| Amounts payable within one year42/48 | €213,392 | €200,769 | €204,578 | €220,921 | €194,291 | ▼ 12.1% |
| Trade debts44 | €1,201 | €542 | €376 | €2,446 | €798 | ▼ 67.4% |
| Suppliers440/4 | - | €542 | €376 | €2,446 | €798 | ▼ 67.4% |
| Advances received on contracts in progress46 | - | - | €4,840 | €4,840 | - | - |
| Taxes, remuneration and social security45 | - | €1,920 | €2,235 | - | €1,125 | - |
| Taxes450/3 | - | €1,920 | €2,235 | - | €1,124 | - |
| Remuneration and social security454/9 | - | - | - | - | €0 | - |
| Other amounts payable47/48 | - | €198,307 | €197,127 | €213,635 | €192,368 | ▼ 10.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €63,270 | €104,788 | €24,610 | €25,213 | €11,072 | ▼ 56.1% |
| + Depreciation and write-downs630 | €12,249 | €12,266 | €12,735 | €4,706 | €10,160 | ▲ 116% |
| Operating cash flow (approximation) | €75,519 | €117,054 | €37,345 | €29,919 | €21,232 | ▼ 29.0% |
| Investment in fixed assets (approximation) | - | -€50,303 | -€1,381 | -€32,646 | -€1,057 | ▲ 96.8% |
| Change in cash | - | €53,042 | -€658,839 | -€53,127 | €41,206 | ▲ 178% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
04-08
State Gazette act
Registered officeRegistered-office move · Director in office5 facts ▸
State Gazette act
Registered office
Registered-office move · Director in office5 facts ▸
- General meeting, 01-07-2026
- Other statement, voorzitter, bureau van de algemene vergadering
- Registered-office move, Loereveldstraat 35 - 9290 Berlare
- Other statement, slotbepalingen, 9u30
- Director in office, Haegens Willy (director)
28-04
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
29-04
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
30-04
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
28-04
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
2022
30-09
Financial
Highest result since 2018net €104,788 ▲65.6%
Operating result €104,949, net result €104,788, both a record.
25-03
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema
2021
29-03
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema
2020
30-09
Financial
Back to profitnet €36,018
Net result €36,018 after one loss-making year.
2019
14-08
NBB filing
Annual accounts filed
fiscal year 2018 · abbreviated schema · 14 days late
2018
28-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
28-06
NBB filing
Annual accounts filed
fiscal year 2016 · abbreviated schema
2016
29-07
NBB filing
Annual accounts filed
fiscal year 2015 · abbreviated schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 4 acts read
About the unread acts
Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
4 acts for this company are in the Belgian State Gazette, of which we have read 1. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Berlare · 1 establishment unit since 1999
Ground area
2,952 m²
Building footprint
436 m²
Volume, LiDAR
1,618 m³
Parcel 42017D0540/00G000, Flanders · tallest building 7.5 m, ±1 floor. Linked by address, not a title deed.
1 establishment unit
Loereveldstraat(O) 35, 9290 Berlare
since 19992.090.837.770
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 42017D0540/00G000 | Flanders | 2,952 m² | 1 · 436 m² | 7.5 m · 1 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Articles of association
Other statement
2 provisions in the deed
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This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of 11,670 companies in sector 85599 we hold annual accounts for 1,330. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded15-01-1999
Fiscal year end30-09
Activities, NACEBEL 2025
85599Other education
68121Development of residential building projects
47639Retail sale of other sporting goods
79110Travel agency activities
68110Buying and selling of own real estate
68201Renting and operating of own or leased residential real estate, excluding social housing
82990Other business support services
E-invoicing
Reachable via Peppol
Peppol ID
0208:0465076396
Also
9925:BE0465076396
Registered
06-08-2024
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 30 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.