ACTIVE

PATH

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Financial year 2025 · closed on 31/12/2025

Net result

37,4 k €

-11.0% YoY

Revenue

159,2 k €

-8.3% YoY

Equity

197,3 k €

+16.1% YoY

What does PATH do?

PATH is a Private limited company incorporated in 2011. Its main activity is: Management consultancy activities. Its registered office is in Chaudfontaine.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0837.024.777

Incorporation

16/06/2011

Legal form

Private limited company

Registered office

Rue du XIII Août 81
4050 Chaudfontaine · WallonieSee on map

Contributed capital

13 250,00 €

Latest accounts

31/12/2025

Activities (NACE)

70200Management consultancy activities· main 70220Business and other management consultancy activities

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 14 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012
Income statement
Revenue	159,2 k €	-8.3%	173,6 k €	+9.3%	158,8 k €	-5.8%	168,6 k €	+16.2%	145,1 k €	-14.3%	169,2 k €	-24.7%	224,7 k €	+3.1%	217,9 k €	+152%	86,4 k €	-45.4%	158,2 k €	+7812%	2 k €		–		–		1,8 k €
EBITDA	51,9 k €	-15.8%	61,6 k €	+21.0%	50,9 k €	-3.4%	52,7 k €	+920%	-6,4 k €	-164%	10,1 k €	-80.2%	51,1 k €	+251%	14,6 k €	-35.8%	22,7 k €	-84.5%	146,9 k €	+9434%	-1,6 k €	+37.8%	-2,5 k €	-51.3%	-1,7 k €	+16.9%	-2 k €
Operating result	50,7 k €	-11.2%	57,2 k €	+51.1%	37,8 k €	-12.4%	43,2 k €	+379%	-15,5 k €	-2341%	691,4 €	-98.3%	41,7 k €	+5145%	795,3 €	-95.6%	18,1 k €	-86.3%	132,1 k €	+7258%	-1,8 k €	+34.1%	-2,8 k €	-67.5%	-1,7 k €	+16.9%	-2 k €
Net result	37,4 k €	-11.0%	42 k €	+61.4%	26 k €	-21.5%	33,1 k €	+305%	-16,2 k €	-1338%	-1,1 k €	-104%	29,4 k €	+6860%	-435,6 €	-104%	11,5 k €	-88.4%	98,9 k €	+5415%	-1,9 k €	+34.4%	-2,8 k €	-68.6%	-1,7 k €	+15.3%	-2 k €
Balance sheet
Equity	197,3 k €	+16.1%	169,9 k €	+23.2%	137,9 k €	+13.1%	121,9 k €	+37.3%	88,7 k €	-15.4%	104,9 k €	-1.1%	106 k €	+35.6%	78,2 k €	-0.6%	78,6 k €	+16.0%	67,8 k €	+1286%	4,9 k €	+22.2%	4 k €	+31.8%	3 k €	-28.0%	4,2 k €
Total assets	223,6 k €	+14.8%	194,7 k €	+19.6%	162,7 k €	+21.9%	133,5 k €	+40.0%	95,3 k €	-18.6%	117,2 k €	+0.7%	116,4 k €	+30.3%	89,3 k €	-4.1%	93,1 k €	-38.4%	151,2 k €	+2535%	5,7 k €	+35.3%	4,2 k €	+24.7%	3,4 k €	-23.6%	4,5 k €
Cash	198,8 k €	+19.3%	166,7 k €	+92.4%	86,6 k €	-11.8%	98,2 k €	+115%	45,7 k €	-24.1%	60,2 k €	+25.0%	48,2 k €	+17.3%	41,1 k €	-24.8%	54,7 k €	-46.2%	101,5 k €	+7526%	1,3 k €	+79.2%	743 €	-42.3%	1,3 k €	-60.4%	3,3 k €
Debts	26,1 k €	+6.3%	24,6 k €	-0.2%	24,7 k €	+115%	11,5 k €	+79.1%	6,4 k €	-47.1%	12,1 k €	+18.7%	10,2 k €	-6.5%	10,9 k €	-23.9%	14,4 k €	-82.8%	83,5 k €	+9730%	849 €	+251%	242 €	-34.4%	368,6 €	+52.3%	242 €

Estimate

Indicative valuation

As an indication, this company is worth

between 250 k€ and 500 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 4 ended

Active mandates

PATRICIA VANMUYSEN

Director · since 08 février 2024

Active

THIERRY CHANTRAINE

Director · since 08 février 2024

Active

PATRICIA VANMUYSEN

Director · since 01 août 2014 · until 08 février 2024

Active

THIERRY CHANTRAINE

Director · since 10 juin 2011 · until 08 février 2024

Active

Ended mandates

PATRICIA VANMUYSEN

Director · since 01 août 2014

Ended

PATRICIA VANMUYSEN

Manager · since 01 août 2014

Ended

THIERRY CHANTRAINE

Director · since 10 juin 2011

Ended

THIERRY CHANTRAINE

Manager · since 10 juin 2011

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	18/08/2026	02/06/2025	08/07/2024	04/07/2023	07/06/2022	13/07/2021
General meeting	01/06/2026	02/06/2025	03/06/2024	05/06/2023	06/06/2022	07/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

14 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	01/06/2026	18/08/2026	French	PDF
Micro model	31/12/2024	02/06/2025	02/06/2025	French	PDF
Micro model	31/12/2023	03/06/2024	08/07/2024	French	PDF
Micro model	31/12/2022	05/06/2023	04/07/2023	French	PDF
Micro model	31/12/2021	06/06/2022	07/06/2022	French	PDF
Micro model	31/12/2020	07/06/2021	13/07/2021	French	PDF
Micro model	31/12/2019	02/06/2020	16/06/2020	French	PDF
Micro model	31/12/2018	03/06/2019	19/06/2019	French	PDF
Micro model	31/12/2017	04/06/2018	05/06/2018	French	PDF
Micro model	31/12/2016	05/06/2017	12/06/2017	French	PDF
Abridged model	31/12/2015	06/06/2016	14/06/2016	French	PDF
Abridged model	31/12/2014	01/06/2015	23/07/2015	French	PDF
Abridged model	31/12/2013	02/06/2014	31/07/2014	French	PDF
Abridged model	31/12/2012	03/06/2013	29/08/2013	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 k€ and 500 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 4 ended

Active mandates

PATRICIA VANMUYSEN

Director · since 08 février 2024

Active

THIERRY CHANTRAINE

Director · since 08 février 2024

Active

PATRICIA VANMUYSEN

Director · since 01 août 2014 · until 08 février 2024

Active

THIERRY CHANTRAINE

Director · since 10 juin 2011 · until 08 février 2024

Active

Ended mandates

PATRICIA VANMUYSEN

Director · since 01 août 2014

Ended

PATRICIA VANMUYSEN

Manager · since 01 août 2014

Ended

THIERRY CHANTRAINE

Director · since 10 juin 2011

Ended

THIERRY CHANTRAINE

Manager · since 10 juin 2011

Ended

Shareholders

Ownership and network

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Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 202537,4 k €↓
2024
Annual accounts 202442 k €↑
2023
Annual accounts 202326 k €↓
2022
Annual accounts 202233,1 k €↑
2021
Annual accounts 2021-16,2 k €↓
2020
Annual accounts 2020-1,1 k €↓
2019
Annual accounts 201929,4 k €↑
2018
Annual accounts 2018-435,6 €↓
2017
Annual accounts 201711,5 k €↓
2016
Annual accounts 201698,9 k €↑
2015
Annual accounts 2015-1,9 k €↑
2014
Annual accounts 2014-2,8 k €↓
2013
Annual accounts 2013-1,7 k €↑
2012
Annual accounts 2012-2 k €
16/06/2011
IncorporationPrivate limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

PATH

Overview

What does PATH do?

Trend over 14 financial years

Indicative valuation

Board of directors

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Similar companies

Similar companies

Timeline