Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 3 of the last 4 fiscal years.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
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Shrinking team NBB
FTE fell two years in a row, from 2.6 to 2.
Financials
Financial year 2025
PATH from Sint-Niklaas, company number BE0465548233, closed financial year 2025 with a result of € -73,117 after tax. For that financial year PATH recorded a gross margin of € 9,996 and equity of € -136,935. Compared with financial year 2024, the result moved from € -51,194 to € -73,117. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on August 13, 2026.
€ -136,935
▼ € 73,117 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -73,117
▼ 43 % more loss than in 2024
Profit after tax over the fiscal year.
€ 29,164
▲ 66% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -155,527.
People and assets in 2025
2
▼ 0.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 67,477
▼ 11% vs 2024
€ 33,700 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 6,023
▼ 26% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 425,354
▲ 16% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 20,143
▼ 4% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -45,295 | € 10,368 | € 43,037 | € 9,996 | ▼ 77% |
| Profit after taxes | € -153,150 | € -89,415 | € -51,194 | € -73,117 | ▼ € 21,923 |
| Equity | € 76,791 | € -12,624 | € -63,818 | € -136,935 | ▼ € 73,117 |
| Total debts | € 609,533 | € 624,889 | € 703,579 | € 739,179 | ▲ 5% |
| Cash | € 63,530 | € 15,773 | € 17,517 | € 29,164 | ▲ 66% |
| Land & buildings | € 3,631 | € 2,813 | € 1,995 | € 1,177 | ▼ 41% |
| Retained profit | € 58,199 | € -31,216 | € -82,410 | € -155,527 | ▼ € 73,117 |
| Balance sheet total | € 686,324 | € 612,265 | € 639,761 | € 602,244 | ▼ 6% |
| Employees (FTE) | 2.6 | 2.6 | 2.2 | 2 | ▼ 0.2 |
Key figures of PATH, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to PATH?
What happened at PATH in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 73,117. filed late Source: NBB ↗
- New establishment in Sint-Niklaas. KBO
- THI HONG THEU LE became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 153,150 loss in 2022 to € 73,117 loss in 2025.
Paid € 10 in corporate taxes since 2022.
On average € 5,000 of value added per employee in 2025.
A new publication or filing at PATH? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
Directors
According to the 2025 annual accounts
THI HONG THEU LE
Manager
since 1999
Establishments
Establishment units
Physical locations of this company
Eigenlostraat 31
9100 Sint-Niklaas
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0465.548.233
- VAT number
- BE 0465.548.233
- Registered office
- Eigenlostraat 31, 9100 Sint-Niklaas
- Names & denominations
- PATH
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 23 March 1999
- Peppol
- Active · Active since 18 Dec 2025
- Activities · NACE
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