PATH - SYSTEMS: 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.
PATH - SYSTEMS
Largest movements
- Cash -€8,114
down €8,114 (-10.7%), from €75,997 to €67,883
mainly Contributions, distributions and other (-€41,869) and Other debts (-€9,511)
- Tangible fixed assets -€5,185
down €5,185 (-30.7%), from €16,911 to €11,726
of which Furniture and vehicles: -€5,429
- Receivables within one year -€5,057
down €5,057 (-16.1%), from €31,331 to €26,273
of which Other amounts receivable: -€5,287
- Profit (loss) carried forward -€41,869
no longer reported in 2025 (was €41,869)
- Reserves +€34,555
up €34,555 (+68.0%), from €50,787 to €85,342
of which Distributable reserves: +€34,555
- Other debts -€9,511
no longer reported in 2025 (was €9,511)
- Gross operating margin +€12,699
up €12,699 (+30.4%), from €41,771 to €54,470
- Taxes +€6,272
up €6,272 (+80.3%), from €7,812 to €14,084
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 | €129,805 | €111,308 | -€18,498 | -14.3% |
| Fixed assets | 21/28 | €16,911 | €11,726 | -€5,185 | -30.7% |
| Tangible fixed assets | 22/27 | €16,911 | €11,726 | -€5,185 | -30.7% |
| Plant, machinery and equipment | 23 | €479 | €723 | +€245 | +51.1% |
| Furniture and vehicles | 24 | €16,432 | €11,003 | -€5,429 | -33.0% |
| Current assets | 29/58 | €112,895 | €99,581 | -€13,313 | -11.8% |
| Amounts receivable within one year | 40/41 | €31,331 | €26,273 | -€5,057 | -16.1% |
| Trade receivables | 40 | €25,988 | €26,218 | +€230 | +0.9% |
| Other amounts receivable | 41 | €5,342 | €56 | -€5,287 | -99.0% |
| Current investments | 50/53 | €1,649 | €1,654 | +€5 | +0.3% |
| Cash at bank and in hand | 54/58 | €75,997 | €67,883 | -€8,114 | -10.7% |
| Deferred charges and accrued income | 490/1 | €3,918 | €3,771 | -€147 | -3.8% |
| Total equity and liabilities | 10/49 | €129,805 | €111,308 | -€18,498 | -14.3% |
| Equity | 10/15 | €111,256 | €103,942 | -€7,314 | -6.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €50,787 | €85,342 | +€34,555 | +68.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €48,927 | €83,482 | +€34,555 | +70.6% |
| Profit (loss) carried forward | 14 | €41,869 | - | -€41,869 | |
| Amounts payable | 17/49 | €18,550 | €7,365 | -€11,184 | -60.3% |
| Amounts payable within one year | 42/48 | €18,550 | €7,365 | -€11,184 | -60.3% |
| Trade debts | 44 | €2,530 | €1,456 | -€1,074 | -42.5% |
| Suppliers | 440/4 | €2,530 | €1,456 | -€1,074 | -42.5% |
| Taxes, remuneration and social security | 45 | €6,508 | €5,910 | -€599 | -9.2% |
| Taxes | 450/3 | €3,108 | €2,538 | -€571 | -18.4% |
| Remuneration and social security | 454/9 | €3,400 | €3,372 | -€28 | -0.8% |
| Other amounts payable | 47/48 | €9,511 | - | -€9,511 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,742 | €5,824 | +€81 | +1.4% |
| Other operating charges | 640/8 | €355 | €365 | +€10 | +2.8% |
| Non-recurring operating charges | 66A | €1,041 | - | -€1,041 | |
| Gross operating margin | 9900 | €41,771 | €54,470 | +€12,699 | +30.4% |
| Operating profit (loss) | 9901 | €34,634 | €48,282 | +€13,648 | +39.4% |
| Financial income | 75/76B | €381 | €431 | +€50 | +13.1% |
| Recurring financial income | 75 | €381 | €431 | +€50 | +13.1% |
| Financial charges | 65/66B | €69 | €74 | +€5 | +6.5% |
| Recurring financial charges | 65 | €69 | €74 | +€5 | +6.5% |
| Profit (loss) for the period before taxes | 9903 | €34,946 | €48,640 | +€13,694 | +39.2% |
| Income taxes | 67/77 | €7,812 | €14,084 | +€6,272 | +80.3% |
| Profit (loss) for the period | 9904 | €27,134 | €34,555 | +€7,421 | +27.4% |
| Profit (loss) for the period to be appropriated | 9905 | €27,134 | €34,555 | +€7,421 | +27.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.