NEPTUNO: 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.
What changed
NEPTUNO
NACE 47.523, Retail trade
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€30,112
2024 · €23,509-€53,621
Equity
€1.6m
2024 · €1.6m-€32,190
Cash
€43,554
2024 · €24,974+€18,581
Balance sheet total
€7.2m
2024 · €7.2m-€9,451
Largest movements
Assets
- Stocks and contracts +€72,517
up €72,517 (+2.9%), from €2.5m to €2.6m
Equity and liabilities
- Trade debts -€146,371
down €146,371 (-19.4%), from €755,771 to €609,400
- Advances received +€136,644
up €136,644 (+4.0%), from €3.5m to €3.6m
Income statement
- Gross operating margin -€126,629
down €126,629 (-16.6%), from €764,720 to €638,091
- Staff costs -€33,273
down €33,273 (-6.9%), from €482,104 to €448,831
- Write-downs -€29,637
down €29,637, from €19,430 to -€10,207
- Taxes -€18,222
down €18,222 (-99.2%), from €18,361 to €139
- Financial charges -€12,373
down €12,373 (-18.1%), from €68,522 to €56,148
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.
Result 2024
€23,509
Gross operating margin
-€126,629
Staff costs
+€33,273
Depreciation
-€11,732
Write-downs
+€29,637
Other operating charges
+€324
Other operating items
-€2,707
Financial income
-€6,382
Financial charges
+€12,373
Taxes
+€18,222
Result 2025
-€30,112
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€54,272
Investment
-€58,250
Financing
+€22,559
Cash 2024
€24,974
From operations (derived)
+€54,272
Net result for the year
-€30,112
Depreciation
+€129,530
Stocks and contracts
-€72,517
Receivables within one year
+€30,029
Deferred charges and accrued income
-€762
Provisions
-€1,396
Trade debts
-€146,371
Tax, wage and social debts
+€29,225
Advances received
+€136,644
Other debts
-€20,000
Investment (derived)
-€58,250
Investment in fixed assets (net)
-€58,250
Financing
+€22,559
Debts after one year
-€11,437
Current portion of long-term debt
+€28,281
Short-term financial debts
+€7,793
Contributions, distributions and other
-€2,079
Cash 2025
€43,554
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,181,668 | €7,172,217 | -€9,451 | -0.1% |
| Fixed assets | 21/28 | €970,306 | €899,026 | -€71,281 | -7.3% |
| Tangible fixed assets | 22/27 | €969,810 | €898,530 | -€71,281 | -7.3% |
| Land and buildings | 22 | €776,994 | €729,133 | -€47,861 | -6.2% |
| Plant, machinery and equipment | 23 | €23,729 | €31,537 | +€7,808 | +32.9% |
| Furniture and vehicles | 24 | €169,087 | €137,859 | -€31,227 | -18.5% |
| Financial fixed assets | 28 | €496 | €496 | = | 0.0% |
| Current assets | 29/58 | €6,211,362 | €6,273,192 | +€61,830 | +1.0% |
| Amounts receivable after more than one year | 29 | €35,000 | €35,000 | = | 0.0% |
| Other amounts receivable | 291 | €35,000 | €35,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €2,521,496 | €2,594,012 | +€72,517 | +2.9% |
| Stocks | 30/36 | €2,521,496 | €2,594,012 | +€72,517 | +2.9% |
| Amounts receivable within one year | 40/41 | €3,627,815 | €3,597,786 | -€30,029 | -0.8% |
| Trade receivables | 40 | €3,606,389 | €3,594,163 | -€12,225 | -0.3% |
| Other amounts receivable | 41 | €21,426 | €3,622 | -€17,804 | -83.1% |
| Cash at bank and in hand | 54/58 | €24,974 | €43,554 | +€18,581 | +74.4% |
| Deferred charges and accrued income | 490/1 | €2,078 | €2,840 | +€762 | +36.7% |
| Total equity and liabilities | 10/49 | €7,181,668 | €7,172,217 | -€9,451 | -0.1% |
| Equity | 10/15 | €1,611,928 | €1,579,737 | -€32,190 | -2.0% |
| Contributions | 10/11 | €689,242 | €689,242 | = | 0.0% |
| Capital | 10 | €689,242 | €689,242 | = | 0.0% |
| Issued capital | 100 | €689,242 | €689,242 | = | 0.0% |
| Reserves | 13 | €20,515 | €20,515 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,515 | €20,515 | = | 0.0% |
| Legal reserve | 130 | €20,502 | €20,502 | = | 0.0% |
| Other | 1319 | €13 | €13 | = | 0.0% |
| Profit (loss) carried forward | 14 | €897,795 | €867,684 | -€30,112 | -3.4% |
| Investment grants | 15 | €4,376 | €2,297 | -€2,079 | -47.5% |
| Provisions and deferred taxes | 16 | €2,938 | €1,542 | -€1,396 | -47.5% |
| Deferred taxes | 168 | €2,938 | €1,542 | -€1,396 | -47.5% |
| Amounts payable | 17/49 | €5,566,803 | €5,590,938 | +€24,135 | +0.4% |
| Amounts payable after more than one year | 17 | €363,927 | €352,490 | -€11,437 | -3.1% |
| Financial debts | 170/4 | €363,927 | €352,490 | -€11,437 | -3.1% |
| Amounts payable within one year | 42/48 | €5,202,876 | €5,238,447 | +€35,572 | +0.7% |
| Current portion of amounts payable after more than one year | 42 | €215,873 | €244,154 | +€28,281 | +13.1% |
| Financial debts | 43 | €614,707 | €622,500 | +€7,793 | +1.3% |
| Credit institutions | 430/8 | €614,707 | €622,500 | +€7,793 | +1.3% |
| Trade debts | 44 | €755,771 | €609,400 | -€146,371 | -19.4% |
| Suppliers | 440/4 | €755,771 | €609,400 | -€146,371 | -19.4% |
| Advances received on contracts in progress | 46 | €3,451,859 | €3,588,503 | +€136,644 | +4.0% |
| Taxes, remuneration and social security | 45 | €144,666 | €173,891 | +€29,225 | +20.2% |
| Taxes | 450/3 | €49,323 | €91,396 | +€42,074 | +85.3% |
| Remuneration and social security | 454/9 | €95,344 | €82,494 | -€12,849 | -13.5% |
| Other amounts payable | 47/48 | €20,000 | - | -€20,000 | |
| Non-recurring operating income | 76A | - | €4,000 | +€4,000 | |
| Remuneration, social security and pensions | 62 | €482,104 | €448,831 | -€33,273 | -6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117,799 | €129,530 | +€11,732 | +10.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €19,430 | -€10,207 | -€29,637 | |
| Other operating charges | 640/8 | €50,683 | €50,359 | -€324 | -0.6% |
| Non-recurring operating charges | 66A | - | €2,707 | +€2,707 | |
| Gross operating margin | 9900 | €764,720 | €638,091 | -€126,629 | -16.6% |
| Operating profit (loss) | 9901 | €94,705 | €16,870 | -€77,834 | -82.2% |
| Financial income | 75/76B | €14,292 | €7,910 | -€6,382 | -44.7% |
| Recurring financial income | 75 | €1,584 | €7,910 | +€6,325 | +399% |
| Non-recurring financial income | 76B | €12,707 | - | -€12,707 | |
| Financial charges | 65/66B | €68,522 | €56,148 | -€12,373 | -18.1% |
| Recurring financial charges | 65 | €68,522 | €56,148 | -€12,373 | -18.1% |
| Profit (loss) for the period before taxes | 9903 | €40,475 | -€31,368 | -€71,843 | |
| Transfer from deferred taxes | 780 | €1,396 | €1,396 | = | 0.0% |
| Income taxes | 67/77 | €18,361 | €139 | -€18,222 | -99.2% |
| Profit (loss) for the period | 9904 | €23,509 | -€30,112 | -€53,621 | |
| Profit (loss) for the period to be appropriated | 9905 | €23,509 | -€30,112 | -€53,621 |
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 19 October 2026 via checked.be.