NEPTUMAR: 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.
NEPTUMAR
Largest movements
- Receivables within one year -€386,967
down €386,967 (-28.3%), from €1.4m to €979,735
of which Trade receivables: -€198,971
- Cash -€140,955
down €140,955 (-33.8%), from €416,498 to €275,543
mainly Contributions, distributions and other (-€200,000) and Trade debts (-€124,282)
- Reserves -€322,486
down €322,486 (-40.8%), from €789,654 to €467,169
of which Distributable reserves: -€322,486
- Trade debts -€124,282
down €124,282 (-16.1%), from €770,435 to €646,153
- Tax, wage and social debts -€65,829
down €65,829 (-48.5%), from €135,866 to €70,037
of which Taxes: -€55,187
- Gross operating margin -€166,434
down €166,434 (-34.2%), from €486,281 to €319,847
- Financial charges +€26,161
up €26,161 (+476%), from €5,493 to €31,654
- Staff costs -€17,652
down €17,652 (-3.9%), from €447,649 to €429,997
- Taxes -€14,153
no longer reported in 2025 (was €14,153)
- Financial income +€8,945
up €8,945 (+59.9%), from €14,941 to €23,887
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 | €1,785,355 | €1,257,759 | -€527,596 | -29.6% |
| Fixed assets | 21/28 | €1,239 | €1,239 | = | 0.0% |
| Financial fixed assets | 28 | €1,239 | €1,239 | = | 0.0% |
| Current assets | 29/58 | €1,784,116 | €1,256,520 | -€527,596 | -29.6% |
| Amounts receivable within one year | 40/41 | €1,366,702 | €979,735 | -€386,967 | -28.3% |
| Trade receivables | 40 | €764,292 | €565,321 | -€198,971 | -26.0% |
| Other amounts receivable | 41 | €602,410 | €414,414 | -€187,995 | -31.2% |
| Cash at bank and in hand | 54/58 | €416,498 | €275,543 | -€140,955 | -33.8% |
| Deferred charges and accrued income | 490/1 | €917 | €1,242 | +€325 | +35.5% |
| Total equity and liabilities | 10/49 | €1,785,355 | €1,257,759 | -€527,596 | -29.6% |
| Equity | 10/15 | €864,054 | €541,569 | -€322,486 | -37.3% |
| Contributions | 10/11 | €74,400 | €74,400 | = | 0.0% |
| Capital | 10 | €74,400 | €74,400 | = | 0.0% |
| Issued capital | 100 | €74,400 | €74,400 | = | 0.0% |
| Reserves | 13 | €789,654 | €467,169 | -€322,486 | -40.8% |
| Non-distributable reserves | 130/1 | €7,440 | €7,440 | = | 0.0% |
| Legal reserve | 130 | €7,440 | €7,440 | = | 0.0% |
| Distributable reserves | 133 | €782,214 | €459,729 | -€322,486 | -41.2% |
| Amounts payable | 17/49 | €921,301 | €716,190 | -€205,111 | -22.3% |
| Amounts payable within one year | 42/48 | €906,301 | €716,190 | -€190,111 | -21.0% |
| Trade debts | 44 | €770,435 | €646,153 | -€124,282 | -16.1% |
| Suppliers | 440/4 | €770,435 | €646,153 | -€124,282 | -16.1% |
| Taxes, remuneration and social security | 45 | €135,866 | €70,037 | -€65,829 | -48.5% |
| Taxes | 450/3 | €87,601 | €32,414 | -€55,187 | -63.0% |
| Remuneration and social security | 454/9 | €48,265 | €37,623 | -€10,642 | -22.0% |
| Accrued charges and deferred income | 492/3 | €15,000 | - | -€15,000 | |
| Remuneration, social security and pensions | 62 | €447,649 | €429,997 | -€17,652 | -3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €290 | - | -€290 | |
| Other operating charges | 640/8 | €1,563 | €4,568 | +€3,005 | +192% |
| Gross operating margin | 9900 | €486,281 | €319,847 | -€166,434 | -34.2% |
| Operating profit (loss) | 9901 | €36,780 | -€114,718 | -€151,497 | |
| Financial income | 75/76B | €14,941 | €23,887 | +€8,945 | +59.9% |
| Recurring financial income | 75 | €14,941 | €23,887 | +€8,945 | +59.9% |
| Financial charges | 65/66B | €5,493 | €31,654 | +€26,161 | +476% |
| Recurring financial charges | 65 | €5,493 | €31,654 | +€26,161 | +476% |
| Profit (loss) for the period before taxes | 9903 | €46,228 | -€122,486 | -€168,713 | |
| Income taxes | 67/77 | €14,153 | - | -€14,153 | |
| Profit (loss) for the period | 9904 | €32,074 | -€122,486 | -€154,560 | |
| Profit (loss) for the period to be appropriated | 9905 | €32,074 | -€122,486 | -€154,560 |
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 14 October 2026 via checked.be.