NEPTUN: 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.
NEPTUN
Largest movements
- Receivables within one year -€9,330
down €9,330 (-15.1%), from €61,946 to €52,616
- Deferred charges and accrued income +€4,841
up €4,841 (+172.9%), from €2,799 to €7,640
- Cash -€2,710
down €2,710 (-95.6%), from €2,835 to €124
mainly Contributions, distributions and other (-€19,505) and Debts after one year (-€9,000)
- Debts after one year -€9,000
down €9,000 (-100.0%), from €9,000 to €0
- Reserves +€3,670
up €3,670 (+5.6%), from €65,925 to €69,594
- Tax, wage and social debts +€3,096
up €3,096 (+36.0%), from €8,610 to €11,705
- Trade debts -€2,782
down €2,782 (-22.1%), from €12,570 to €9,788
- Accrued charges and deferred income -€2,333
down €2,333 (-77.8%), from €3,000 to €667
- Gross operating margin +€5,951
up €5,951 (+19.9%), from €29,866 to €35,817
- Taxes +€2,005
up €2,005 (+21.9%), from €9,167 to €11,172
- Financial income +€1,057
up €1,057 (+37.7%), from €2,803 to €3,860
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.
Cash bridge derived
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 | €105,305 | €97,956 | -€7,349 | -7.0% |
| Fixed assets | 21/28 | €37,725 | €37,575 | -€150 | -0.4% |
| Tangible fixed assets | 22/27 | €37,725 | €37,575 | -€150 | -0.4% |
| Land and buildings | 22 | €37,185 | €37,185 | = | 0.0% |
| Furniture and vehicles | 24 | €540 | €390 | -€150 | -27.8% |
| Current assets | 29/58 | €67,580 | €60,381 | -€7,199 | -10.7% |
| Amounts receivable within one year | 40/41 | €61,946 | €52,616 | -€9,330 | -15.1% |
| Other amounts receivable | 41 | €61,946 | €52,616 | -€9,330 | -15.1% |
| Cash at bank and in hand | 54/58 | €2,835 | €124 | -€2,710 | -95.6% |
| Deferred charges and accrued income | 490/1 | €2,799 | €7,640 | +€4,841 | +172.9% |
| Total equity and liabilities | 10/49 | €105,305 | €97,956 | -€7,349 | -7.0% |
| Equity | 10/15 | €72,125 | €75,794 | +€3,670 | +5.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €65,925 | €69,594 | +€3,670 | +5.6% |
| Distributable reserves | 133 | €65,925 | €69,594 | +€3,670 | +5.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €33,180 | €22,161 | -€11,019 | -33.2% |
| Amounts payable after more than one year | 17 | €9,000 | €0 | -€9,000 | -100.0% |
| Other amounts payable | 178/9 | €9,000 | €0 | -€9,000 | -100.0% |
| Amounts payable within one year | 42/48 | €21,180 | €21,494 | +€314 | +1.5% |
| Trade debts | 44 | €12,570 | €9,788 | -€2,782 | -22.1% |
| Suppliers | 440/4 | €12,570 | €9,788 | -€2,782 | -22.1% |
| Taxes, remuneration and social security | 45 | €8,610 | €11,705 | +€3,096 | +36.0% |
| Taxes | 450/3 | €8,610 | €11,705 | +€3,096 | +36.0% |
| Accrued charges and deferred income | 492/3 | €3,000 | €667 | -€2,333 | -77.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €150 | €150 | = | 0.0% |
| Other operating charges | 640/8 | €4,916 | €5,069 | +€152 | +3.1% |
| Gross operating margin | 9900 | €29,866 | €35,817 | +€5,951 | +19.9% |
| Operating profit (loss) | 9901 | €24,800 | €30,598 | +€5,799 | +23.4% |
| Financial income | 75/76B | €2,803 | €3,860 | +€1,057 | +37.7% |
| Recurring financial income | 75 | €2,803 | €3,860 | +€1,057 | +37.7% |
| Financial charges | 65/66B | €70 | €112 | +€42 | +59.5% |
| Recurring financial charges | 65 | €70 | €112 | +€42 | +59.5% |
| Profit (loss) for the period before taxes | 9903 | €27,533 | €34,346 | +€6,813 | +24.7% |
| Income taxes | 67/77 | €9,167 | €11,172 | +€2,005 | +21.9% |
| Profit (loss) for the period | 9904 | €18,366 | €23,174 | +€4,808 | +26.2% |
| Profit (loss) for the period to be appropriated | 9905 | €18,366 | €23,174 | +€4,808 | +26.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.