Neptunus: 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.
Neptunus
Largest movements
- Tangible fixed assets -€165,404
down €165,404 (-3.7%), from €4.5m to €4.3m
- Debts after one year -€257,196
down €257,196 (-21.1%), from €1.2m to €963,719
of which Financial debts: -€257,196
- Profit (loss) carried forward +€132,135
up €132,135 (+74.3%), from -€177,847 to -€45,712
- Other operating charges -€534,146
down €534,146 (-96.5%), from €553,276 to €19,130
- Depreciation +€118,949
up €118,949 (+208.8%), from €56,979 to €175,928
- Gross operating margin +€49,624
up €49,624 (+15.9%), from €312,448 to €362,072
- Financial charges -€5,636
down €5,636 (-13.7%), from €41,227 to €35,590
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 | €4,528,419 | €4,371,833 | -€156,586 | -3.5% |
| Fixed assets | 21/28 | €4,480,442 | €4,315,038 | -€165,404 | -3.7% |
| Tangible fixed assets | 22/27 | €4,480,442 | €4,315,038 | -€165,404 | -3.7% |
| Land and buildings | 22 | €4,480,442 | €4,315,038 | -€165,404 | -3.7% |
| Current assets | 29/58 | €47,977 | €56,795 | +€8,818 | +18.4% |
| Amounts receivable within one year | 40/41 | €26,500 | €20,000 | -€6,500 | -24.5% |
| Other amounts receivable | 41 | €26,500 | €20,000 | -€6,500 | -24.5% |
| Cash at bank and in hand | 54/58 | €19,456 | €15,967 | -€3,489 | -17.9% |
| Deferred charges and accrued income | 490/1 | €2,021 | €20,829 | +€18,807 | +930.4% |
| Total equity and liabilities | 10/49 | €4,528,419 | €4,371,833 | -€156,586 | -3.5% |
| Equity | 10/15 | €3,050,153 | €3,182,288 | +€132,135 | +4.3% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Revaluation surpluses | 12 | €3,213,000 | €3,213,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€177,847 | -€45,712 | +€132,135 | +74.3% |
| Amounts payable | 17/49 | €1,478,266 | €1,189,545 | -€288,721 | -19.5% |
| Amounts payable after more than one year | 17 | €1,220,915 | €963,719 | -€257,196 | -21.1% |
| Financial debts | 170/4 | €1,081,246 | €824,050 | -€257,196 | -23.8% |
| Other amounts payable | 178/9 | €139,670 | €139,670 | = | 0.0% |
| Amounts payable within one year | 42/48 | €257,351 | €222,701 | -€34,651 | -13.5% |
| Current portion of amounts payable after more than one year | 42 | €59,981 | €62,364 | +€2,384 | +4.0% |
| Trade debts | 44 | €718 | €3,596 | +€2,878 | +400.8% |
| Suppliers | 440/4 | €718 | €3,596 | +€2,878 | +400.8% |
| Taxes, remuneration and social security | 45 | €14,912 | - | -€14,912 | |
| Taxes | 450/3 | €14,912 | - | -€14,912 | |
| Other amounts payable | 47/48 | €181,740 | €156,740 | -€25,000 | -13.8% |
| Accrued charges and deferred income | 492/3 | - | €3,125 | +€3,125 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,979 | €175,928 | +€118,949 | +208.8% |
| Other operating charges | 640/8 | €553,276 | €19,130 | -€534,146 | -96.5% |
| Gross operating margin | 9900 | €312,448 | €362,072 | +€49,624 | +15.9% |
| Operating profit (loss) | 9901 | -€297,807 | €167,014 | +€464,821 | |
| Financial income | 75/76B | €190 | €711 | +€522 | +274.7% |
| Recurring financial income | 75 | €190 | €711 | +€522 | +274.7% |
| Financial charges | 65/66B | €41,227 | €35,590 | -€5,636 | -13.7% |
| Recurring financial charges | 65 | €41,227 | €35,590 | -€5,636 | -13.7% |
| Profit (loss) for the period before taxes | 9903 | -€338,844 | €132,135 | +€470,979 | |
| Profit (loss) for the period | 9904 | -€338,844 | €132,135 | +€470,979 | |
| Profit (loss) for the period to be appropriated | 9905 | -€338,844 | €132,135 | +€470,979 |
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 8 October 2026 via checked.be.