Neptunus: 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.
Neptunus
Largest movements
- Tangible fixed assets +€1.7m
up €1.7m (+161%), from €1.1m to €2.8m
- Cash -€1.3m
down €1.3m (-98.1%), from €1.3m to €25,846
mainly Investment in fixed assets (net) (-€1.8m) and Net result for the year (-€84,493)
- Short-term financial debts +€510,000
new in 2025: €510,000
- Profit (loss) carried forward -€79,909
down €79,909 (-9.4%), from -€854,020 to -€933,929
- Depreciation +€51,006
up €51,006 (+145%), from €35,134 to €86,139
- Gross operating margin -€10,788
down €10,788 (-50.7%), from €21,290 to €10,502
- Write-downs +€1,000
new in 2025: €1,000
- Financial income +€872
up €872, from €0 to €872
of which Financial income: +€872
- Financial charges -€500
down €500 (-39.4%), from €1,269 to €769
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 | €2,415,036 | €2,848,986 | +€433,950 | +18.0% |
| Fixed assets | 21/28 | €1,082,076 | €2,821,537 | +€1.7m | +161% |
| Tangible fixed assets | 22/27 | €1,082,076 | €2,821,537 | +€1.7m | +161% |
| Land and buildings | 22 | €1,082,076 | €2,821,537 | +€1.7m | +161% |
| Current assets | 29/58 | €1,332,960 | €27,449 | -€1.3m | -97.9% |
| Amounts receivable within one year | 40/41 | €1,494 | €0 | -€1,494 | -100% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €1,494 | €0 | -€1,494 | -100% |
| Cash at bank and in hand | 54/58 | €1,329,194 | €25,846 | -€1.3m | -98.1% |
| Deferred charges and accrued income | 490/1 | €2,272 | €1,603 | -€670 | -29.5% |
| Total equity and liabilities | 10/49 | €2,415,036 | €2,848,986 | +€433,950 | +18.0% |
| Equity | 10/15 | -€130,803 | -€215,296 | -€84,493 | -64.6% |
| Contributions | 10/11 | €318,791 | €318,791 | = | 0.0% |
| Capital | 10 | €318,791 | €318,791 | = | 0.0% |
| Issued capital | 100 | €318,791 | €318,791 | = | 0.0% |
| Reserves | 13 | €404,425 | €399,842 | -€4,583 | -1.1% |
| Non-distributable reserves | 130/1 | €310 | €310 | = | 0.0% |
| Legal reserve | 130 | €310 | €310 | = | 0.0% |
| Tax-exempt reserves | 132 | €404,115 | €399,532 | -€4,583 | -1.1% |
| Profit (loss) carried forward | 14 | -€854,020 | -€933,929 | -€79,909 | -9.4% |
| Provisions and deferred taxes | 16 | €134,705 | €133,177 | -€1,528 | -1.1% |
| Deferred taxes | 168 | €134,705 | €133,177 | -€1,528 | -1.1% |
| Amounts payable | 17/49 | €2,411,134 | €2,931,104 | +€519,970 | +21.6% |
| Amounts payable within one year | 42/48 | €2,409,166 | €2,931,104 | +€521,938 | +21.7% |
| Financial debts | 43 | - | €510,000 | +€510,000 | |
| Credit institutions | 430/8 | - | €510,000 | +€510,000 | |
| Trade debts | 44 | €18,221 | €31,031 | +€12,810 | +70.3% |
| Suppliers | 440/4 | €18,221 | €31,031 | +€12,810 | +70.3% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €2,390,945 | €2,390,073 | -€872 | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,968 | €0 | -€1,968 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,134 | €86,139 | +€51,006 | +145% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €1,000 | +€1,000 | |
| Other operating charges | 640/8 | €9,050 | €9,486 | +€435 | +4.8% |
| Gross operating margin | 9900 | €21,290 | €10,502 | -€10,788 | -50.7% |
| Operating profit (loss) | 9901 | -€22,894 | -€86,123 | -€63,229 | -276% |
| Financial income | 75/76B | €0 | €872 | +€872 | |
| Recurring financial income | 75 | €0 | €872 | +€872 | |
| Non-recurring financial income | 76B | - | €872 | +€872 | |
| Financial charges | 65/66B | €1,269 | €769 | -€500 | -39.4% |
| Recurring financial charges | 65 | €1,269 | €769 | -€500 | -39.4% |
| Profit (loss) for the period before taxes | 9903 | -€24,163 | -€86,020 | -€61,858 | -256% |
| Transfer from deferred taxes | 780 | - | €1,528 | +€1,528 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€24,163 | -€84,493 | -€60,330 | -250% |
| Transfer from tax-exempt reserves | 789 | - | €4,583 | +€4,583 | |
| Profit (loss) for the period to be appropriated | 9905 | -€24,163 | -€79,909 | -€55,746 | -231% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.