NEPTUUN: 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.
NEPTUUN
Largest movements
- Cash +€20,332
up €20,332 (+19.5%), from €104,183 to €124,514
mainly Net result for the year (+€24,933) and Depreciation (+€3,974)
- Tangible fixed assets -€3,974
down €3,974 (-50.0%), from €7,949 to €3,974
- Reserves +€24,933
up €24,933 (+37.1%), from €67,237 to €92,170
of which Distributable reserves: +€24,933
- Current portion of long-term debt -€6,500
down €6,500 (-100%), from €6,500 to €0
- Other debts -€4,256
down €4,256 (-9.8%), from €43,226 to €38,970
- Trade debts +€3,006
up €3,006 (+108%), from €2,790 to €5,796
- Gross operating margin +€5,964
up €5,964 (+18.1%), from €32,869 to €38,833
- Depreciation +€1,322
up €1,322 (+49.9%), from €2,652 to €3,974
- Financial charges -€602
down €602 (-43.0%), from €1,401 to €799
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 | €144,779 | €161,676 | +€16,898 | +11.7% |
| Fixed assets | 21/28 | €7,949 | €3,974 | -€3,974 | -50.0% |
| Tangible fixed assets | 22/27 | €7,949 | €3,974 | -€3,974 | -50.0% |
| Furniture and vehicles | 24 | €7,949 | €3,974 | -€3,974 | -50.0% |
| Current assets | 29/58 | €136,830 | €157,702 | +€20,872 | +15.3% |
| Amounts receivable within one year | 40/41 | €30,658 | €30,822 | +€164 | +0.5% |
| Trade receivables | 40 | €30,588 | €30,822 | +€234 | +0.8% |
| Other amounts receivable | 41 | €70 | €0 | -€70 | -100% |
| Cash at bank and in hand | 54/58 | €104,183 | €124,514 | +€20,332 | +19.5% |
| Deferred charges and accrued income | 490/1 | €1,989 | €2,366 | +€377 | +18.9% |
| Total equity and liabilities | 10/49 | €144,779 | €161,676 | +€16,898 | +11.7% |
| Equity | 10/15 | €85,837 | €110,770 | +€24,933 | +29.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €67,237 | €92,170 | +€24,933 | +37.1% |
| Non-distributable reserves | 130/1 | €200 | €200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €200 | €200 | = | 0.0% |
| Distributable reserves | 133 | €67,037 | €91,970 | +€24,933 | +37.2% |
| Amounts payable | 17/49 | €58,942 | €50,906 | -€8,036 | -13.6% |
| Amounts payable within one year | 42/48 | €58,942 | €50,906 | -€8,036 | -13.6% |
| Current portion of amounts payable after more than one year | 42 | €6,500 | €0 | -€6,500 | -100% |
| Trade debts | 44 | €2,790 | €5,796 | +€3,006 | +108% |
| Suppliers | 440/4 | €2,790 | €5,796 | +€3,006 | +108% |
| Taxes, remuneration and social security | 45 | €6,425 | €6,140 | -€285 | -4.4% |
| Taxes | 450/3 | €6,425 | €6,140 | -€285 | -4.4% |
| Other amounts payable | 47/48 | €43,226 | €38,970 | -€4,256 | -9.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,652 | €3,974 | +€1,322 | +49.9% |
| Other operating charges | 640/8 | €1,065 | €1,221 | +€156 | +14.7% |
| Gross operating margin | 9900 | €32,869 | €38,833 | +€5,964 | +18.1% |
| Operating profit (loss) | 9901 | €29,152 | €33,637 | +€4,486 | +15.4% |
| Financial charges | 65/66B | €1,401 | €799 | -€602 | -43.0% |
| Recurring financial charges | 65 | €1,401 | €799 | -€602 | -43.0% |
| Profit (loss) for the period before taxes | 9903 | €27,751 | €32,838 | +€5,087 | +18.3% |
| Income taxes | 67/77 | €7,898 | €7,905 | +€7 | +0.1% |
| Profit (loss) for the period | 9904 | €19,853 | €24,933 | +€5,081 | +25.6% |
| Profit (loss) for the period to be appropriated | 9905 | €19,853 | €24,933 | +€5,081 | +25.6% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.