NEPTUNE BEHEER: 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.
NEPTUNE BEHEER
Largest movements
- Receivables within one year +€194,051
up €194,051 (+377%), from €51,468 to €245,519
- Cash -€101,895
down €101,895 (-73.2%), from €139,236 to €37,341
mainly Receivables within one year (-€194,051) and Accrued charges and deferred income (-€1,315)
- Tangible fixed assets -€50,614
down €50,614 (-7.6%), from €664,082 to €613,468
of which Land and buildings: -€49,768
- Profit (loss) carried forward +€26,746
up €26,746 (+4.1%), from €658,264 to €685,010
- Tax, wage and social debts +€13,425
up €13,425 (+444%), from €3,026 to €16,452
- Gross operating margin +€35,234
up €35,234 (+55.3%), from €63,683 to €98,917
- Taxes +€13,045
up €13,045 (+469%), from €2,780 to €15,826
- Financial income +€2,508
up €2,508 (+80.1%), from €3,130 to €5,638
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 | €861,417 | €903,933 | +€42,516 | +4.9% |
| Fixed assets | 21/28 | €664,082 | €613,468 | -€50,614 | -7.6% |
| Tangible fixed assets | 22/27 | €664,082 | €613,468 | -€50,614 | -7.6% |
| Land and buildings | 22 | €661,729 | €611,961 | -€49,768 | -7.5% |
| Furniture and vehicles | 24 | €2,353 | €1,507 | -€846 | -36.0% |
| Current assets | 29/58 | €197,335 | €290,465 | +€93,130 | +47.2% |
| Amounts receivable within one year | 40/41 | €51,468 | €245,519 | +€194,051 | +377% |
| Other amounts receivable | 41 | €51,468 | €245,519 | +€194,051 | +377% |
| Cash at bank and in hand | 54/58 | €139,236 | €37,341 | -€101,895 | -73.2% |
| Deferred charges and accrued income | 490/1 | €6,631 | €7,605 | +€973 | +14.7% |
| Total equity and liabilities | 10/49 | €861,417 | €903,933 | +€42,516 | +4.9% |
| Equity | 10/15 | €829,798 | €856,544 | +€26,746 | +3.2% |
| Contributions | 10/11 | €155,940 | €155,940 | = | 0.0% |
| Reserves | 13 | €15,594 | €15,594 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,594 | €15,594 | = | 0.0% |
| Reserves not available under the articles | 1311 | €15,594 | €15,594 | = | 0.0% |
| Profit (loss) carried forward | 14 | €658,264 | €685,010 | +€26,746 | +4.1% |
| Amounts payable | 17/49 | €31,618 | €47,389 | +€15,770 | +49.9% |
| Amounts payable within one year | 42/48 | €18,333 | €35,419 | +€17,085 | +93.2% |
| Trade debts | 44 | €5,098 | €6,212 | +€1,114 | +21.8% |
| Suppliers | 440/4 | €5,098 | €6,212 | +€1,114 | +21.8% |
| Taxes, remuneration and social security | 45 | €3,026 | €16,452 | +€13,425 | +444% |
| Taxes | 450/3 | €3,026 | €16,452 | +€13,425 | +444% |
| Other amounts payable | 47/48 | €10,209 | €12,755 | +€2,546 | +24.9% |
| Accrued charges and deferred income | 492/3 | €13,285 | €11,970 | -€1,315 | -9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,797 | €50,614 | +€816 | +1.6% |
| Other operating charges | 640/8 | €10,205 | €10,789 | +€583 | +5.7% |
| Gross operating margin | 9900 | €63,683 | €98,917 | +€35,234 | +55.3% |
| Operating profit (loss) | 9901 | €3,680 | €37,515 | +€33,835 | +919% |
| Financial income | 75/76B | €3,130 | €5,638 | +€2,508 | +80.1% |
| Recurring financial income | 75 | €3,130 | €5,638 | +€2,508 | +80.1% |
| Financial charges | 65/66B | €750 | €581 | -€168 | -22.5% |
| Recurring financial charges | 65 | €750 | €581 | -€168 | -22.5% |
| Profit (loss) for the period before taxes | 9903 | €6,061 | €42,572 | +€36,511 | +602% |
| Income taxes | 67/77 | €2,780 | €15,826 | +€13,045 | +469% |
| Profit (loss) for the period | 9904 | €3,280 | €26,746 | +€23,466 | +715% |
| Profit (loss) for the period to be appropriated | 9905 | €3,280 | €26,746 | +€23,466 | +715% |
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.