PATHO: 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.
PATHO
Largest movements
- Cash -€9,490
down €9,490 (-20.1%), from €47,146 to €37,657
mainly Net result for the year (-€10,025) and Tax, wage and social debts (-€2,902)
- Deferred charges and accrued income -€6,937
down €6,937 (-72.0%), from €9,637 to €2,700
- Stocks and contracts +€2,162
up €2,162 (+29.1%), from €7,439 to €9,601
- Receivables within one year +€1,177
up €1,177 (+43.6%), from €2,702 to €3,879
of which Other amounts receivable: +€897
- Profit (loss) carried forward -€10,025
new in 2025: -€10,025
- Tax, wage and social debts -€2,902
down €2,902 (-27.0%), from €10,732 to €7,830
of which Taxes: -€2,523
- Gross operating margin -€36,512
down €36,512 (-36.1%), from €101,269 to €64,758
- Staff costs -€23,408
down €23,408 (-25.1%), from €93,308 to €69,900
- Financial charges +€1,216
up €1,216 (+78.0%), from €1,560 to €2,776
- Taxes -€1,196
down €1,196 (-100.0%), from €1,196 to €0
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 | €67,108 | €53,837 | -€13,271 | -19.8% |
| Fixed assets | 21/28 | €184 | €0 | -€184 | -100.0% |
| Tangible fixed assets | 22/27 | €184 | €0 | -€184 | -100.0% |
| Plant, machinery and equipment | 23 | €184 | €0 | -€184 | -100.0% |
| Current assets | 29/58 | €66,924 | €53,837 | -€13,087 | -19.6% |
| Stocks and contracts in progress | 3 | €7,439 | €9,601 | +€2,162 | +29.1% |
| Stocks | 30/36 | €7,439 | €9,601 | +€2,162 | +29.1% |
| Amounts receivable within one year | 40/41 | €2,702 | €3,879 | +€1,177 | +43.6% |
| Trade receivables | 40 | €0 | €281 | +€281 | |
| Other amounts receivable | 41 | €2,702 | €3,598 | +€897 | +33.2% |
| Cash at bank and in hand | 54/58 | €47,146 | €37,657 | -€9,490 | -20.1% |
| Deferred charges and accrued income | 490/1 | €9,637 | €2,700 | -€6,937 | -72.0% |
| Total equity and liabilities | 10/49 | €67,108 | €53,837 | -€13,271 | -19.8% |
| Equity | 10/15 | €20,878 | €10,854 | -€10,025 | -48.0% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €14,678 | €14,678 | = | 0.0% |
| Distributable reserves | 133 | €14,678 | €14,678 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€10,025 | -€10,025 | |
| Amounts payable | 17/49 | €46,230 | €42,983 | -€3,247 | -7.0% |
| Amounts payable within one year | 42/48 | €46,230 | €42,983 | -€3,247 | -7.0% |
| Trade debts | 44 | €33,905 | €33,608 | -€297 | -0.9% |
| Suppliers | 440/4 | €33,905 | €33,608 | -€297 | -0.9% |
| Taxes, remuneration and social security | 45 | €10,732 | €7,830 | -€2,902 | -27.0% |
| Taxes | 450/3 | €5,919 | €3,397 | -€2,523 | -42.6% |
| Remuneration and social security | 454/9 | €4,812 | €4,433 | -€379 | -7.9% |
| Other amounts payable | 47/48 | €1,593 | €1,545 | -€48 | -3.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €93,308 | €69,900 | -€23,408 | -25.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €241 | €184 | -€57 | -23.5% |
| Other operating charges | 640/8 | €1,100 | €1,955 | +€855 | +77.7% |
| Gross operating margin | 9900 | €101,269 | €64,758 | -€36,512 | -36.1% |
| Operating profit (loss) | 9901 | €6,620 | -€7,282 | -€13,902 | |
| Financial income | 75/76B | €716 | €34 | -€682 | -95.2% |
| Recurring financial income | 75 | €716 | €34 | -€682 | -95.2% |
| Financial charges | 65/66B | €1,560 | €2,776 | +€1,216 | +78.0% |
| Recurring financial charges | 65 | €1,560 | €2,776 | +€1,216 | +78.0% |
| Profit (loss) for the period before taxes | 9903 | €5,776 | -€10,025 | -€15,800 | |
| Income taxes | 67/77 | €1,196 | €0 | -€1,196 | -100.0% |
| Profit (loss) for the period | 9904 | €4,580 | -€10,025 | -€14,604 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,580 | -€10,025 | -€14,604 |
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 10 October 2026 via checked.be.