PATHOSENSE: what changed
PATHOSENSE
Largest movements
- Receivables within one year +€227,496
up €227,496 (+57.7%), from €394,537 to €622,033
of which Trade receivables: +€227,657
- Cash +€124,182
up €124,182 (+128%), from €96,854 to €221,036
mainly Accrued charges and deferred income (+€145,026) and Depreciation (+€116,773)
- Intangible fixed assets -€63,040
down €63,040 (-20.8%), from €303,792 to €240,752
- Tangible fixed assets +€41,144
up €41,144 (+63.4%), from €64,882 to €106,026
of which Leasing and similar rights: +€28,008
- Accrued charges and deferred income +€145,026
up €145,026 (+88.4%), from €163,980 to €309,006
- Reserves +€94,137
up €94,137 (+196%), from €47,977 to €142,114
- Tax, wage and social debts +€65,246
up €65,246 (+84.9%), from €76,863 to €142,109
of which Taxes: +€35,173
- Debts after one year -€63,177
down €63,177 (-12.9%), from €489,947 to €426,770
- Trade debts +€49,619
up €49,619 (+199%), from €24,985 to €74,604
- Gross operating margin +€150,455
up €150,455 (+27.8%), from €542,020 to €692,475
- Staff costs +€81,065
up €81,065 (+21.6%), from €374,591 to €455,656
- Depreciation +€31,958
up €31,958 (+37.7%), from €84,816 to €116,773
- Financial charges +€16,209
up €16,209 (+195%), from €8,331 to €24,540
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €874,626 | €1,205,223 | +€330,597 | +37.8% |
| Formation expenses | 20 | €10,434 | €7,864 | -€2,570 | -24.6% |
| Fixed assets | 21/28 | €368,674 | €346,778 | -€21,896 | -5.9% |
| Intangible fixed assets | 21 | €303,792 | €240,752 | -€63,040 | -20.8% |
| Tangible fixed assets | 22/27 | €64,882 | €106,026 | +€41,144 | +63.4% |
| Plant, machinery and equipment | 23 | €52,503 | €61,093 | +€8,589 | +16.4% |
| Furniture and vehicles | 24 | €9,766 | €6,459 | -€3,307 | -33.9% |
| Leasing and similar rights | 25 | - | €28,008 | +€28,008 | |
| Other tangible fixed assets | 26 | €2,613 | €10,466 | +€7,853 | +301% |
| Current assets | 29/58 | €495,518 | €850,581 | +€355,063 | +71.7% |
| Amounts receivable within one year | 40/41 | €394,537 | €622,033 | +€227,496 | +57.7% |
| Trade receivables | 40 | €394,252 | €621,910 | +€227,657 | +57.7% |
| Other amounts receivable | 41 | €284 | €123 | -€161 | -56.7% |
| Cash at bank and in hand | 54/58 | €96,854 | €221,036 | +€124,182 | +128% |
| Deferred charges and accrued income | 490/1 | €4,128 | €7,513 | +€3,385 | +82.0% |
| Total equity and liabilities | 10/49 | €874,626 | €1,205,223 | +€330,597 | +37.8% |
| Equity | 10/15 | €62,977 | €157,114 | +€94,137 | +149% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Reserves | 13 | €47,977 | €142,114 | +€94,137 | +196% |
| Distributable reserves | 133 | €47,977 | €142,114 | +€94,137 | +196% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €811,649 | €1,048,109 | +€236,459 | +29.1% |
| Amounts payable after more than one year | 17 | €489,947 | €426,770 | -€63,177 | -12.9% |
| Financial debts | 170/4 | €489,947 | €426,770 | -€63,177 | -12.9% |
| Amounts payable within one year | 42/48 | €157,722 | €312,333 | +€154,611 | +98.0% |
| Current portion of amounts payable after more than one year | 42 | €54,015 | €91,471 | +€37,456 | +69.3% |
| Financial debts | 43 | €1,859 | €4,148 | +€2,289 | +123% |
| Credit institutions | 430/8 | €1,859 | €4,148 | +€2,289 | +123% |
| Trade debts | 44 | €24,985 | €74,604 | +€49,619 | +199% |
| Suppliers | 440/4 | €24,985 | €74,604 | +€49,619 | +199% |
| Taxes, remuneration and social security | 45 | €76,863 | €142,109 | +€65,246 | +84.9% |
| Taxes | 450/3 | €64,775 | €99,948 | +€35,173 | +54.3% |
| Remuneration and social security | 454/9 | €12,088 | €42,161 | +€30,074 | +249% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €163,980 | €309,006 | +€145,026 | +88.4% |
| Remuneration, social security and pensions | 62 | €374,591 | €455,656 | +€81,065 | +21.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,816 | €116,773 | +€31,958 | +37.7% |
| Other operating charges | 640/8 | €1,690 | €1,369 | -€321 | -19.0% |
| Gross operating margin | 9900 | €542,020 | €692,475 | +€150,455 | +27.8% |
| Operating profit (loss) | 9901 | €80,922 | €118,676 | +€37,754 | +46.7% |
| Financial income | 75/76B | €131 | €1 | -€130 | -99.1% |
| Recurring financial income | 75 | €131 | €1 | -€130 | -99.1% |
| Financial charges | 65/66B | €8,331 | €24,540 | +€16,209 | +195% |
| Recurring financial charges | 65 | €8,331 | €24,540 | +€16,209 | +195% |
| Profit (loss) for the period before taxes | 9903 | €72,723 | €94,137 | +€21,415 | +29.4% |
| Profit (loss) for the period | 9904 | €72,723 | €94,137 | +€21,415 | +29.4% |
| Profit (loss) for the period to be appropriated | 9905 | €72,723 | €94,137 | +€21,415 | +29.4% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.