NEPTUNE PROJECTS: 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 PROJECTS
Largest movements
- Deferred charges and accrued income +€117,852
up €117,852 (+64.6%), from €182,472 to €300,324
- Receivables within one year -€26,873
down €26,873 (-91.9%), from €29,229 to €2,356
of which Trade receivables: -€20,848
- Tangible fixed assets -€22,212
down €22,212 (-8.7%), from €254,999 to €232,787
of which Land and buildings: -€17,019
- Cash +€13,193
up €13,193 (+4.2%), from €317,585 to €330,777
mainly Advances received (+€81,126) and Receivables within one year (+€26,873)
- Advances received +€81,126
up €81,126 (+20.6%), from €393,474 to €474,599
- Debts after one year -€26,313
down €26,313 (-26.1%), from €101,004 to €74,691
- Trade debts +€19,629
up €19,629 (+16.6%), from €117,942 to €137,571
- Accrued charges and deferred income +€9,016
up €9,016 (+26.7%), from €33,730 to €42,746
- Gross operating margin -€16,221
down €16,221 (-12.2%), from €133,013 to €116,792
- Staff costs +€7,246
up €7,246 (+9.8%), from €73,889 to €81,135
- Taxes -€1,998
down €1,998 (-79.7%), from €2,509 to €510
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 | €784,322 | €866,282 | +€81,960 | +10.4% |
| Fixed assets | 21/28 | €255,037 | €232,825 | -€22,212 | -8.7% |
| Tangible fixed assets | 22/27 | €254,999 | €232,787 | -€22,212 | -8.7% |
| Land and buildings | 22 | €236,188 | €219,169 | -€17,019 | -7.2% |
| Plant, machinery and equipment | 23 | €690 | €397 | -€294 | -42.6% |
| Furniture and vehicles | 24 | €18,121 | €13,222 | -€4,899 | -27.0% |
| Financial fixed assets | 28 | €38 | €38 | = | 0.0% |
| Current assets | 29/58 | €529,285 | €633,457 | +€104,172 | +19.7% |
| Amounts receivable within one year | 40/41 | €29,229 | €2,356 | -€26,873 | -91.9% |
| Trade receivables | 40 | €23,203 | €2,356 | -€20,848 | -89.8% |
| Other amounts receivable | 41 | €6,026 | €0 | -€6,026 | -100% |
| Cash at bank and in hand | 54/58 | €317,585 | €330,777 | +€13,193 | +4.2% |
| Deferred charges and accrued income | 490/1 | €182,472 | €300,324 | +€117,852 | +64.6% |
| Total equity and liabilities | 10/49 | €784,322 | €866,282 | +€81,960 | +10.4% |
| Equity | 10/15 | €90,987 | €93,896 | +€2,909 | +3.2% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €60,987 | €63,896 | +€2,909 | +4.8% |
| Distributable reserves | 133 | €60,987 | €63,896 | +€2,909 | +4.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €693,335 | €772,386 | +€79,051 | +11.4% |
| Amounts payable after more than one year | 17 | €101,004 | €74,691 | -€26,313 | -26.1% |
| Financial debts | 170/4 | €101,004 | €74,691 | -€26,313 | -26.1% |
| Amounts payable within one year | 42/48 | €558,601 | €654,949 | +€96,347 | +17.2% |
| Current portion of amounts payable after more than one year | 42 | €25,839 | €26,313 | +€473 | +1.8% |
| Trade debts | 44 | €117,942 | €137,571 | +€19,629 | +16.6% |
| Suppliers | 440/4 | €117,942 | €137,571 | +€19,629 | +16.6% |
| Advances received on contracts in progress | 46 | €393,474 | €474,599 | +€81,126 | +20.6% |
| Taxes, remuneration and social security | 45 | €18,205 | €12,132 | -€6,074 | -33.4% |
| Taxes | 450/3 | €5,010 | €1,645 | -€3,365 | -67.2% |
| Remuneration and social security | 454/9 | €13,195 | €10,487 | -€2,708 | -20.5% |
| Other amounts payable | 47/48 | €3,141 | €4,334 | +€1,193 | +38.0% |
| Accrued charges and deferred income | 492/3 | €33,730 | €42,746 | +€9,016 | +26.7% |
| Remuneration, social security and pensions | 62 | €73,889 | €81,135 | +€7,246 | +9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,894 | €23,645 | +€752 | +3.3% |
| Other operating charges | 640/8 | €2,308 | €2,141 | -€166 | -7.2% |
| Gross operating margin | 9900 | €133,013 | €116,792 | -€16,221 | -12.2% |
| Operating profit (loss) | 9901 | €33,923 | €9,870 | -€24,053 | -70.9% |
| Financial income | 75/76B | €107 | €340 | +€233 | +218% |
| Recurring financial income | 75 | €107 | €340 | +€233 | +218% |
| Financial charges | 65/66B | €7,513 | €6,790 | -€723 | -9.6% |
| Recurring financial charges | 65 | €7,513 | €6,790 | -€723 | -9.6% |
| Profit (loss) for the period before taxes | 9903 | €26,517 | €3,419 | -€23,097 | -87.1% |
| Income taxes | 67/77 | €2,509 | €510 | -€1,998 | -79.7% |
| Profit (loss) for the period | 9904 | €24,008 | €2,909 | -€21,099 | -87.9% |
| Profit (loss) for the period to be appropriated | 9905 | €24,008 | €2,909 | -€21,099 | -87.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.