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
- Current investments +€100,899
new in 2025: €100,899
- Cash +€51,471
up €51,471 (+38.3%), from €134,475 to €185,946
mainly Net result for the year (+€118,431) and Depreciation (+€66,791)
- Receivables within one year -€50,978
down €50,978 (-64.2%), from €79,343 to €28,365
of which Trade receivables: -€41,526
- Tangible fixed assets +€15,083
up €15,083 (+5.7%), from €262,415 to €277,498
of which Furniture and vehicles: +€27,847
- Reserves +€118,431
up €118,431 (+69.0%), from €171,743 to €290,174
- Tax, wage and social debts +€55,423
up €55,423 (+60.1%), from €92,180 to €147,603
of which Taxes: +€58,964
- Trade debts -€50,726
down €50,726 (-65.9%), from €77,016 to €26,290
- Debts after one year +€17,319
up €17,319 (+37.4%), from €46,277 to €63,596
- Other debts -€14,919
down €14,919 (-24.7%), from €60,342 to €45,423
- Gross operating margin -€133,149
down €133,149 (-26.3%), from €506,008 to €372,859
- Staff costs -€47,982
down €47,982 (-27.6%), from €174,038 to €126,055
- Taxes -€25,741
down €25,741 (-33.3%), from €77,333 to €51,592
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 | €494,421 | €613,714 | +€119,292 | +24.1% |
| Fixed assets | 21/28 | €262,415 | €277,498 | +€15,083 | +5.7% |
| Tangible fixed assets | 22/27 | €262,415 | €277,498 | +€15,083 | +5.7% |
| Land and buildings | 22 | €6,862 | €4,901 | -€1,961 | -28.6% |
| Plant, machinery and equipment | 23 | €63,405 | €54,501 | -€8,904 | -14.0% |
| Furniture and vehicles | 24 | €176,000 | €203,848 | +€27,847 | +15.8% |
| Other tangible fixed assets | 26 | €16,148 | €14,248 | -€1,900 | -11.8% |
| Current assets | 29/58 | €232,007 | €336,216 | +€104,209 | +44.9% |
| Amounts receivable within one year | 40/41 | €79,343 | €28,365 | -€50,978 | -64.2% |
| Trade receivables | 40 | €68,455 | €26,929 | -€41,526 | -60.7% |
| Other amounts receivable | 41 | €10,888 | €1,437 | -€9,451 | -86.8% |
| Current investments | 50/53 | - | €100,899 | +€100,899 | |
| Cash at bank and in hand | 54/58 | €134,475 | €185,946 | +€51,471 | +38.3% |
| Deferred charges and accrued income | 490/1 | €18,189 | €21,005 | +€2,817 | +15.5% |
| Total equity and liabilities | 10/49 | €494,421 | €613,714 | +€119,292 | +24.1% |
| Equity | 10/15 | €181,743 | €300,174 | +€118,431 | +65.2% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €171,743 | €290,174 | +€118,431 | +69.0% |
| Distributable reserves | 133 | €171,743 | €290,174 | +€118,431 | +69.0% |
| Amounts payable | 17/49 | €312,678 | €313,540 | +€861 | +0.3% |
| Amounts payable after more than one year | 17 | €46,277 | €63,596 | +€17,319 | +37.4% |
| Financial debts | 170/4 | €46,277 | €63,596 | +€17,319 | +37.4% |
| Amounts payable within one year | 42/48 | €263,672 | €248,918 | -€14,754 | -5.6% |
| Current portion of amounts payable after more than one year | 42 | €34,135 | €29,601 | -€4,533 | -13.3% |
| Trade debts | 44 | €77,016 | €26,290 | -€50,726 | -65.9% |
| Suppliers | 440/4 | €77,016 | €26,290 | -€50,726 | -65.9% |
| Taxes, remuneration and social security | 45 | €92,180 | €147,603 | +€55,423 | +60.1% |
| Taxes | 450/3 | €80,115 | €139,079 | +€58,964 | +73.6% |
| Remuneration and social security | 454/9 | €12,065 | €8,525 | -€3,541 | -29.3% |
| Other amounts payable | 47/48 | €60,342 | €45,423 | -€14,919 | -24.7% |
| Accrued charges and deferred income | 492/3 | €2,729 | €1,026 | -€1,703 | -62.4% |
| Non-recurring operating income | 76A | €33,000 | €0 | -€33,000 | -100% |
| Remuneration, social security and pensions | 62 | €174,038 | €126,055 | -€47,982 | -27.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,576 | €66,791 | -€2,785 | -4.0% |
| Other operating charges | 640/8 | €9,237 | €6,327 | -€2,910 | -31.5% |
| Gross operating margin | 9900 | €506,008 | €372,859 | -€133,149 | -26.3% |
| Operating profit (loss) | 9901 | €253,158 | €173,686 | -€79,472 | -31.4% |
| Financial income | 75/76B | €165 | €858 | +€693 | +419% |
| Recurring financial income | 75 | €165 | €858 | +€693 | +419% |
| Financial charges | 65/66B | €4,247 | €4,522 | +€274 | +6.5% |
| Recurring financial charges | 65 | €4,247 | €4,522 | +€274 | +6.5% |
| Profit (loss) for the period before taxes | 9903 | €249,076 | €170,023 | -€79,053 | -31.7% |
| Income taxes | 67/77 | €77,333 | €51,592 | -€25,741 | -33.3% |
| Profit (loss) for the period | 9904 | €171,743 | €118,431 | -€53,312 | -31.0% |
| Profit (loss) for the period to be appropriated | 9905 | €171,743 | €118,431 | -€53,312 | -31.0% |
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 18 October 2026 via checked.be.