PATHIMO
ActiveSummary
PATHIMO has been active since 2011 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €287k and a net result of €39k. Equity is shrinking by ~5% per year across the filed fiscal years. Its solvency ranks better than 83% of 7058 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability83▲+4
Solvency100=
Growth32=
Track record100
Bankruptcy probability, 12 months
0.4%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity ample (current ratio 3.56 against 2.97 in 2024; short-term debt: 10.2% and cash: 32.3% of total assets), and 14.3% of the assets are financed with debt.
Credit check for your own amount and term
Signals
Three signals. The signal on the left, the evidence on the right.
−lowers risk○neutral
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
85.7%
Return on assets
11.7%
Age of the figures
9 mo
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 11-05-2026, 81 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
81 d early
2024
83 d early
2023
62 d early
2022
61 d early
2021
67 d early
2020
58 d early
2019
65 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€287k▼ 5.0%
2024 · €302k
2018: €336k
2019: €390k▲ +16.2% vs 2018
2020: €432k▲ +10.8% vs 2019highest in 8 years
2021: €356k▼ -17.6% vs 2020
2022: €336k▼ -5.6% vs 2021
2023: €338k▲ +0.7% vs 2022
2024: €302k▼ -10.7% vs 2023
2025: €287k▼ -5.0% vs 2024lowest in 8 years
2018 → 2025
Total assets
€334k▼ 11.3%
2024 · €377k
2018: €521k
2019: €515k▼ -1.2% vs 2018
2020: €524k▲ +1.7% vs 2019highest in 8 years
2021: €434k▼ -17.1% vs 2020
2022: €393k▼ -9.6% vs 2021
2023: €418k▲ +6.4% vs 2022
2024: €377k▼ -9.8% vs 2023
2025: €334k▼ -11.3% vs 2024lowest in 8 years
2018 → 2025
Net result
€39k▲ 23.4%
2024 · €32k
2018: €68k
2019: €54k▼ -20.8% vs 2018
2020: €61k▲ +12.5% vs 2019
2021: €94k▲ +53.7% vs 2020highest in 8 years
2022: €17k▼ -81.9% vs 2021lowest in 8 years
2023: €24k▲ +43.8% vs 2022
2024: €32k▲ +30.3% vs 2023
2025: €39k▲ +23.4% vs 2024
2018 → 2025
Working capital
€87k▼ 8.5%
2024 · €95k
2018: €180k
2019: €227k▲ +26.1% vs 2018
2020: €261k▲ +14.8% vs 2019highest in 8 years
2021: €172k▼ -34.0% vs 2020
2022: €131k▼ -24.0% vs 2021
2023: €123k▼ -5.6% vs 2022
2024: €95k▼ -22.8% vs 2023
2025: €87k▼ -8.5% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€356k-€336k▼ 5.6%€338k▲ 0.7%€302k▼ 10.7%€287k▼ 5.0%
2021: €356khighest in 5 years
2022: €336k▼ -5.6% vs 2021
2023: €338k▲ +0.7% vs 2022
2024: €302k▼ -10.7% vs 2023
2025: €287k▼ -5.0% vs 2024lowest in 5 years
Operating result€135k-€29k▼ 78.8%€41k▲ 42.5%€50k▲ 22.6%€59k▲ 18.3%
2021: €135khighest in 5 years
2022: €29k▼ -78.8% vs 2021lowest in 5 years
2023: €41k▲ +42.5% vs 2022
2024: €50k▲ +22.6% vs 2023
2025: €59k▲ +18.3% vs 2024
Net result€94k-€17k▼ 81.9%€24k▲ 43.8%€32k▲ 30.3%€39k▲ 23.4%
2021: €94khighest in 5 years
2022: €17k▼ -81.9% vs 2021lowest in 5 years
2023: €24k▲ +43.8% vs 2022
2024: €32k▲ +30.3% vs 2023
2025: €39k▲ +23.4% vs 2024
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
After the dip in 2022 the operating result has climbed three years in a row; 2025 is 18% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €334k
Fixed assets
€213k ▼ 8.7%
Current assets
€121k ▼ 15.6%
Equity and liabilities €334k
Equity
€287k ▼ 5.0%
Debt
€48k ▼ 36.7%
Debt's share of the balance-sheet total falls from 20.0% to 14.3%. Equity and debt are lower.
Key figures and ratios
EBITDA
€80k▲
2024 · €71k
Cash flow
€59k▲
2024 · €53k
Current ratio
3.56▲
2024 · 2.97
Quick ratio
3.55▲
2024 · 2.96
Debt to equity
0.17▼
2024 · 0.25
ROE
13.7%▲
2024 · 10.5%
ROA
11.7%▲
2024 · 8.4%
Interest coverage
29.94▲
2024 · 18.37
Debt ≤ 1 year
€34k▼
2024 · €48k
Debt > 1 year
€12k▼
2024 · €25k
Income taxes
€19k▲
2024 · €15k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €0 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €13k | €16k | €16k | €21k | €20k | ▼ 3.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | €2k | €484 | €308 | €0 | - | - |
| Other operating charges640/8 | €2k | €2k | €3k | €2k | €3k | ▲ 50.6% |
| Non-recurring operating charges66A | - | €2k | €0 | €354 | €0 | ▼ 100% |
| Gross operating margin9900 | €152k | €49k | €60k | €74k | €83k | ▲ 12.6% |
| Operating profit (loss)9901 | €135k | €29k | €41k | €50k | €59k | ▲ 18.3% |
| Financial income75/76B | €3k | €654 | €47 | €398 | €1k | ▲ 176% |
| Recurring financial income75 | €3k | €654 | €47 | €398 | €1k | ▲ 176% |
| Financial charges65/66B | €4k | €2k | €4k | €4k | €3k | ▼ 31.3% |
| Recurring financial charges65 | €4k | €2k | €4k | €4k | €3k | ▼ 31.3% |
| Profit (loss) for the period before taxes9903 | €135k | €27k | €37k | €47k | €58k | ▲ 23.7% |
| Income taxes67/77 | €41k | €10k | €13k | €15k | €19k | ▲ 24.3% |
| Profit (loss) for the period9904 | €94k | €17k | €24k | €32k | €39k | ▲ 23.4% |
| Profit (loss) for the period to be appropriated9905 | €94k | €17k | €24k | €32k | €39k | ▲ 23.4% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €434k | €393k | €418k | €377k | €334k | ▼ 11.3% |
| Fixed assets21/28 | €220k | €222k | €254k | €233k | €213k | ▼ 8.7% |
| Tangible fixed assets22/27 | €220k | €222k | €254k | €233k | €213k | ▼ 8.7% |
| Land and buildings22 | €212k | €202k | €192k | €186k | €180k | ▼ 3.2% |
| Plant, machinery and equipment23 | €2k | €2k | €4k | €2k | - | - |
| Furniture and vehicles24 | €6k | €18k | €59k | €46k | €33k | ▼ 27.2% |
| Other tangible fixed assets26 | €0 | - | - | - | - | - |
| Financial fixed assets28 | €25 | €25 | €25 | €25 | €25 | = |
| Current assets29/58 | €214k | €171k | €164k | €144k | €121k | ▼ 15.6% |
| Amounts receivable after more than one year29 | €27k | €0 | - | - | - | - |
| Other amounts receivable291 | €27k | €0 | - | - | - | - |
| Stocks and contracts in progress3 | €1k | €725 | €416 | €223 | €144 | ▼ 35.4% |
| Stocks30/36 | €1k | €725 | €416 | €223 | €144 | ▼ 35.4% |
| Amounts receivable within one year40/41 | €52k | €18k | €8k | €5k | €9k | ▲ 57.3% |
| Trade receivables40 | €43k | €2k | €4k | €5k | €3k | ▼ 35.2% |
| Other amounts receivable41 | €9k | €16k | €4k | €157 | €5k | ▲ 3,158% |
| Current investments50/53 | - | - | - | €60k | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €129k | €148k | €151k | €74k | €108k | ▲ 45.9% |
| Deferred charges and accrued income490/1 | €5k | €5k | €4k | €4k | €5k | ▲ 15.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €434k | €393k | €418k | €377k | €334k | ▼ 11.3% |
| Equity10/15 | €356k | €336k | €338k | €302k | €287k | ▼ 5.0% |
| Contributions10/11 | €12k | €12k | €12k | €12k | €12k | = |
| Reserves13 | €333k | €313k | €315k | €279k | €264k | ▼ 5.4% |
| Non-distributable reserves130/1 | €2k | €2k | €2k | €2k | €2k | = |
| Reserves not available under the articles1311 | €2k | €2k | €2k | €2k | €2k | = |
| Distributable reserves133 | €331k | €311k | €313k | €277k | €262k | ▼ 5.4% |
| Profit (loss) carried forward14 | €10k | €10k | €10k | €10k | €10k | ▲ 0.4% |
| Amounts payable17/49 | €79k | €57k | €80k | €75k | €48k | ▼ 36.7% |
| Amounts payable after more than one year17 | €34k | €15k | €38k | €25k | €12k | ▼ 53.6% |
| Financial debts170/4 | €34k | €15k | €38k | €25k | €12k | ▼ 53.6% |
| Amounts payable within one year42/48 | €42k | €40k | €40k | €48k | €34k | ▼ 29.5% |
| Current portion of amounts payable after more than one year42 | €20k | €20k | €27k | €13k | €13k | ▲ 4.3% |
| Trade debts44 | €2k | €2k | €3k | €2k | €4k | ▲ 67.5% |
| Suppliers440/4 | €2k | €2k | €3k | €2k | €4k | ▲ 67.5% |
| Taxes, remuneration and social security45 | €20k | €19k | €7k | €14k | €17k | ▲ 19.6% |
| Taxes450/3 | €20k | €19k | €7k | €14k | €17k | ▲ 19.6% |
| Other amounts payable47/48 | €0 | - | €4k | €19k | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | €2k | €2k | €2k | €2k | €2k | = |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €94k | €17k | €24k | €32k | €39k | ▲ 23.4% |
| + Depreciation and write-downs630 | €13k | €16k | €16k | €21k | €20k | ▼ 3.0% |
| Operating cash flow (approximation) | €106k | €33k | €40k | €53k | €59k | ▲ 12.9% |
| Investment in fixed assets (approximation) | - | €-18k | €-49k | €0 | €0 | - |
| Change in cash | - | €18k | €4k | €-77k | €34k | ▲ 144% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
11-05
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
09-05
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
30-05
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
31-05
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Weakest financial yearnet €17k ▼81.9%
Net result drops to €17k, the lowest in the series; recovery starts the following year.
25-05
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2018net €94k ▲53.7%
Operating result €135k, net result €94k, both a record.
03-06
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
2020
27-05
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
05-06
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
04-06
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
07-06
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Mortsel · 1 establishment unit since 2011
Ground area
339 m²
Building footprint
106 m²
Volume, LiDAR
1,002 m³
Parcel 11513C0120/00C007, Flanders · tallest building 13.1 m, ±3 floors. Linked by address, not a title deed.
1 establishment unit
Mechelsesteenweg 70, 2640 Mortsel
since 20112.199.316.533
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 11513C0120/00C007 | Flanders | 338 m² | 1 · 106 m² | 13.1 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 13,417 companies in sector 73300 we hold annual accounts for 6,896. 4,870 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded28-02-2011
Fiscal year end31-12
Activities, NACEBEL 2025
73300Public relations and communication consultancy
70200Business and other management consultancy
Contact
E-mail
patrick.vrydaghs@pathimo.net
Phone
+32 475 445 440
Scores and ratios are computed by Checked and are not a credit decision.