iPATH Solutions: 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.
iPATH Solutions
Largest movements
- Cash +€84,111
up €84,111 (+51.7%), from €162,841 to €246,952
mainly Net result for the year (+€144,081) and Receivables within one year (+€50,753)
- Receivables within one year -€50,753
down €50,753 (-59.8%), from €84,915 to €34,162
of which Trade receivables: -€70,106
- Intangible fixed assets +€7,068
new in 2025: €7,068
- Profit (loss) carried forward +€144,081
up €144,081 (+125.8%), from €114,506 to €258,587
- Advances received -€83,633
down €83,633 (-99.2%), from €84,334 to €700
- Tax, wage and social debts -€35,192
down €35,192 (-92.9%), from €37,900 to €2,709
- Provisions +€28,150
new in 2025: €28,150
- Trade debts -€8,192
down €8,192 (-92.6%), from €8,846 to €654
- Gross operating margin +€38,195
up €38,195 (+19.7%), from €194,029 to €232,224
- Provisions +€28,150
new in 2025: €28,150
- Taxes +€16,330
up €16,330 (+45.5%), from €35,898 to €52,228
- Financial charges +€3,480
up €3,480 (+200.1%), from €1,739 to €5,219
- Depreciation +€2,382
new in 2025: €2,382
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 | €250,194 | €290,899 | +€40,705 | +16.3% |
| Fixed assets | 21/28 | - | €7,068 | +€7,068 | |
| Intangible fixed assets | 21 | - | €7,068 | +€7,068 | |
| Current assets | 29/58 | €250,194 | €283,831 | +€33,637 | +13.4% |
| Amounts receivable within one year | 40/41 | €84,915 | €34,162 | -€50,753 | -59.8% |
| Trade receivables | 40 | €84,915 | €14,809 | -€70,106 | -82.6% |
| Other amounts receivable | 41 | - | €19,353 | +€19,353 | |
| Cash at bank and in hand | 54/58 | €162,841 | €246,952 | +€84,111 | +51.7% |
| Deferred charges and accrued income | 490/1 | €2,438 | €2,717 | +€278 | +11.4% |
| Total equity and liabilities | 10/49 | €250,194 | €290,899 | +€40,705 | +16.3% |
| Equity | 10/15 | €114,606 | €258,687 | +€144,081 | +125.7% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €114,506 | €258,587 | +€144,081 | +125.8% |
| Provisions and deferred taxes | 16 | - | €28,150 | +€28,150 | |
| Provisions for liabilities and charges | 160/5 | - | €28,150 | +€28,150 | |
| Other liabilities and charges | 164/5 | - | €28,150 | +€28,150 | |
| Amounts payable | 17/49 | €135,588 | €4,063 | -€131,526 | -97.0% |
| Amounts payable within one year | 42/48 | €135,588 | €4,063 | -€131,526 | -97.0% |
| Financial debts | 43 | €65 | - | -€65 | |
| Credit institutions | 430/8 | €65 | - | -€65 | |
| Trade debts | 44 | €8,846 | €654 | -€8,192 | -92.6% |
| Suppliers | 440/4 | €8,846 | €654 | -€8,192 | -92.6% |
| Advances received on contracts in progress | 46 | €84,334 | €700 | -€83,633 | -99.2% |
| Taxes, remuneration and social security | 45 | €37,900 | €2,709 | -€35,192 | -92.9% |
| Taxes | 450/3 | €37,900 | €2,709 | -€35,192 | -92.9% |
| Other amounts payable | 47/48 | €4,444 | - | -€4,444 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,382 | +€2,382 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | €28,150 | +€28,150 | |
| Other operating charges | 640/8 | - | €373 | +€373 | |
| Gross operating margin | 9900 | €194,029 | €232,224 | +€38,195 | +19.7% |
| Operating profit (loss) | 9901 | €194,029 | €201,319 | +€7,290 | +3.8% |
| Financial income | 75/76B | €638 | €209 | -€429 | -67.3% |
| Recurring financial income | 75 | €638 | €209 | -€429 | -67.3% |
| Financial charges | 65/66B | €1,739 | €5,219 | +€3,480 | +200.1% |
| Recurring financial charges | 65 | €1,739 | €5,219 | +€3,480 | +200.1% |
| Profit (loss) for the period before taxes | 9903 | €192,928 | €196,309 | +€3,381 | +1.8% |
| Income taxes | 67/77 | €35,898 | €52,228 | +€16,330 | +45.5% |
| Profit (loss) for the period | 9904 | €157,030 | €144,081 | -€12,949 | -8.2% |
| Profit (loss) for the period to be appropriated | 9905 | €157,030 | €144,081 | -€12,949 | -8.2% |
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 29 September 2026 via checked.be.