LE NEPTUNE: 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.
LE NEPTUNE
Largest movements
- Cash -€22,950
down €22,950 (-83.3%), from €27,554 to €4,604
mainly Net result for the year (-€41,397) and Tax, wage and social debts (-€9,577)
- Tangible fixed assets -€6,185
down €6,185 (-29.9%), from €20,671 to €14,486
of which Furniture and vehicles: -€7,616
- Deferred charges and accrued income -€4,441
no longer reported in 2025 (was €4,441)
- Receivables within one year +€3,842
up €3,842 (+23.8%), from €16,128 to €19,970
of which Trade receivables: +€3,842
- Financial fixed assets +€1,328
up €1,328 (+13.2%), from €10,072 to €11,400
- Profit (loss) carried forward -€41,397
down €41,397 (-356%), from -€11,622 to -€53,019
- Trade debts +€23,986
up €23,986 (+68.7%), from €34,911 to €58,897
- Tax, wage and social debts -€9,577
down €9,577 (-29.0%), from €33,045 to €23,468
of which Remuneration and social security: -€8,359
- Current portion of long-term debt -€1,488
down €1,488 (-27.1%), from €5,488 to €4,000
- Gross operating margin -€33,427
down €33,427 (-11.0%), from €304,323 to €270,896
- Staff costs +€3,232
up €3,232 (+1.1%), from €291,170 to €294,402
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 | €94,584 | €65,703 | -€28,881 | -30.5% |
| Fixed assets | 21/28 | €30,743 | €25,886 | -€4,857 | -15.8% |
| Tangible fixed assets | 22/27 | €20,671 | €14,486 | -€6,185 | -29.9% |
| Plant, machinery and equipment | 23 | - | €5,899 | +€5,899 | |
| Furniture and vehicles | 24 | €9,276 | €1,660 | -€7,616 | -82.1% |
| Other tangible fixed assets | 26 | €11,395 | €6,927 | -€4,468 | -39.2% |
| Financial fixed assets | 28 | €10,072 | €11,400 | +€1,328 | +13.2% |
| Current assets | 29/58 | €63,841 | €39,817 | -€24,024 | -37.6% |
| Stocks and contracts in progress | 3 | €15,718 | €15,243 | -€475 | -3.0% |
| Stocks | 30/36 | €15,718 | €15,243 | -€475 | -3.0% |
| Amounts receivable within one year | 40/41 | €16,128 | €19,970 | +€3,842 | +23.8% |
| Trade receivables | 40 | €6,775 | €10,617 | +€3,842 | +56.7% |
| Other amounts receivable | 41 | €9,353 | €9,353 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €27,554 | €4,604 | -€22,950 | -83.3% |
| Deferred charges and accrued income | 490/1 | €4,441 | - | -€4,441 | |
| Total equity and liabilities | 10/49 | €94,584 | €65,703 | -€28,881 | -30.5% |
| Equity | 10/15 | €15,878 | -€25,519 | -€41,397 | |
| Contributions | 10/11 | €25,000 | €25,000 | = | 0.0% |
| Reserves | 13 | €2,500 | €2,500 | = | 0.0% |
| Distributable reserves | 133 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,622 | -€53,019 | -€41,397 | -356% |
| Amounts payable | 17/49 | €78,706 | €91,222 | +€12,516 | +15.9% |
| Amounts payable within one year | 42/48 | €78,706 | €91,222 | +€12,516 | +15.9% |
| Current portion of amounts payable after more than one year | 42 | €5,488 | €4,000 | -€1,488 | -27.1% |
| Trade debts | 44 | €34,911 | €58,897 | +€23,986 | +68.7% |
| Suppliers | 440/4 | €34,911 | €58,897 | +€23,986 | +68.7% |
| Taxes, remuneration and social security | 45 | €33,045 | €23,468 | -€9,577 | -29.0% |
| Taxes | 450/3 | €5,353 | €4,135 | -€1,218 | -22.8% |
| Remuneration and social security | 454/9 | €27,692 | €19,333 | -€8,359 | -30.2% |
| Other amounts payable | 47/48 | €5,262 | €4,857 | -€405 | -7.7% |
| Remuneration, social security and pensions | 62 | €291,170 | €294,402 | +€3,232 | +1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,478 | €8,150 | -€328 | -3.9% |
| Other operating charges | 640/8 | €1,686 | €1,739 | +€53 | +3.1% |
| Gross operating margin | 9900 | €304,323 | €270,896 | -€33,427 | -11.0% |
| Operating profit (loss) | 9901 | €2,989 | -€33,395 | -€36,384 | |
| Financial income | 75/76B | €104 | €19 | -€85 | -81.7% |
| Recurring financial income | 75 | €104 | €19 | -€85 | -81.7% |
| Financial charges | 65/66B | €8,316 | €8,021 | -€295 | -3.5% |
| Recurring financial charges | 65 | €8,316 | €8,021 | -€295 | -3.5% |
| Profit (loss) for the period before taxes | 9903 | -€5,223 | -€41,397 | -€36,174 | -693% |
| Profit (loss) for the period | 9904 | -€5,223 | -€41,397 | -€36,174 | -693% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,223 | -€41,397 | -€36,174 | -693% |
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 27 October 2026 via checked.be.