ML PHYSIO
ActiveSummary
ML PHYSIO has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €155,371 and a net result of €69,609. Equity is growing by about 75% per year across the filed financial years. The computed 12-month bankruptcy probability is 0.2% (very low).
Overview
- Equity
- €155,371
- Profit
- €69,609
- LERUTH Martin Georges Séverine Lucienne GhislainDirector
Why 95raises riskFounded in 2023lowers riskLiquidity: current ratio 15.93, cash €143,525Size: total assets €165,738Equity €155,371 (93.7% of total assets)Show the evidence
Checked score
About 2 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (no NACE code, micro): better than 81% on solvency, 95% on liquidity, 90% on profitability and 91% on growth.
The bankruptcy probability was computed on 24-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 3 accounts on average 18 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Highest result from 2023 to 2025net €69,609 ▲17.4%
- Equity above €150,000equity €155,371 ▲81.2%
Financials · financial year 2025, micro format
2025 annual accounts filed late (26 days) Filed on 26 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00453549.
2023 to 2025, 3 financial years
The operating result has risen two years in a row; 2025 is 18% above 2024 and is the highest result in the available series.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Use the arrow keys on the chart for the figures per year.
Peer companies
Historical observationOf the 39,278 companies that looked in July 2024 the way this one looks now, 1.8% went bankrupt within 24 months and 95.8% are still going.
- Micro
- 2 to 5 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
A further 0.1% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.2% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,475 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 39,278 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €406 | €981 | €981 | = |
| Other operating charges640/8 | - | - | €194 | - |
| Gross operating margin9900 | €30,025 | €75,846 | €89,265 | ▲ 17.7% |
| Operating profit (loss)9901 | €29,619 | €74,865 | €88,090 | ▲ 17.7% |
| Financial income75/76B | €8 | - | - | - |
| Recurring financial income75 | €8 | - | - | - |
| Financial charges65/66B | - | €89 | €54 | ▼ 39.1% |
| Recurring financial charges65 | - | €89 | €54 | ▼ 39.1% |
| Profit (loss) for the period before taxes9903 | €29,626 | €74,776 | €88,036 | ▲ 17.7% |
| Income taxes67/77 | €6,166 | €15,474 | €18,427 | ▲ 19.1% |
| Profit (loss) for the period9904 | €23,460 | €59,302 | €69,609 | ▲ 17.4% |
| Profit (loss) for the period to be appropriated9905 | €23,460 | €59,302 | €69,609 | ▲ 17.4% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €33,222 | €95,045 | €165,738 | ▲ 74.4% |
| Fixed assets21/28 | €2,537 | €1,556 | €575 | ▼ 63.0% |
| Tangible fixed assets22/27 | €2,537 | €1,556 | €575 | ▼ 63.0% |
| Plant, machinery and equipment23 | €2,537 | €1,556 | €575 | ▼ 63.0% |
| Current assets29/58 | €30,685 | €93,490 | €165,163 | ▲ 76.7% |
| Amounts receivable within one year40/41 | €13,845 | €21,722 | €10,895 | ▼ 49.8% |
| Trade receivables40 | €13,611 | €17,996 | €6,396 | ▼ 64.5% |
| Other amounts receivable41 | €234 | €3,726 | €4,499 | ▲ 20.7% |
| Cash at bank and in hand54/58 | €16,704 | €70,028 | €143,525 | ▲ 105% |
| Deferred charges and accrued income490/1 | €137 | €1,740 | €10,743 | ▲ 517% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €33,222 | €95,045 | €165,738 | ▲ 74.4% |
| Equity10/15 | €26,460 | €85,761 | €155,371 | ▲ 81.2% |
| Contributions10/11 | €3,000 | €3,000 | €3,000 | = |
| Reserves13 | €23,460 | €82,761 | €152,371 | ▲ 84.1% |
| Distributable reserves133 | €23,460 | €82,761 | €152,371 | ▲ 84.1% |
| Amounts payable17/49 | €6,762 | €9,284 | €10,367 | ▲ 11.7% |
| Amounts payable within one year42/48 | €6,762 | €9,284 | €10,367 | ▲ 11.7% |
| Trade debts44 | - | €520 | €387 | ▼ 25.5% |
| Suppliers440/4 | - | €520 | €387 | ▼ 25.5% |
| Other amounts payable47/48 | €6,762 | €8,764 | €9,980 | ▲ 13.9% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €23,460 | €59,302 | €69,609 | ▲ 17.4% |
| + Depreciation and write-downs630 | €406 | €981 | €981 | = |
| Operating cash flow (approximation) | €23,866 | €60,283 | €70,590 | ▲ 17.1% |
| Investment in fixed assets (approximation) | - | €0 | €0 | - |
| Change in cash | - | €53,324 | €73,497 | ▲ 37.8% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (3)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 26-08-2026 | 2026-00453549 |
| 31-12-2024 | micro format | 31-07-2025 | 2025-00355417 |
| 31-12-2023 | micro format | 29-08-2024 | 2024-00395728 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| LERUTH Martin Georges Séverine Lucienne Ghislain |
|
Owners and capital
Owners
No owners or capital events in the accounts and acts we read.
Group and network
Connections & network
1 current directorThe network starts from this company’s directors. Other companies they run appear here as nodes.
History
Acts, filings and financial milestones
04-08
Gazette deed
IncorporationAppointment: LERUTH Martin Georges Séverine Lucienne Ghislain (director) · Founder · Founding capital7 facts ▸
- Incorporation, 01-08-2023
- Founder, LERUTH Martin Georges Séverine Lucienne Ghislain (comparant)
- Founding capital, €3,000
- Registered office clause, “4800 Verviers,chaussée de Heusy,28/202” (deed in French)
- Board rule, 1
- Director appointment, LERUTH Martin Georges Séverine Lucienne Ghislain (director)
- Pre-incorporation commitments, “takeover, engagements,obligations,activités au nom et pour compte société en formation” (deed in French)
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 25 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 63079D0333/00E000 | Wallonia | 108 m² | 1 · 52 m² | 13.5 m · 4 |
How the parcels are linked
Articles of association
What the company does
- DurationHow long the company exists; usually unlimited, so until it is dissolved.
- Unlimited
- Name clauseThe name the company operates under according to its articles.
- ML Physio
- Registered office clauseThe region of the registered office; it decides among other things the language of official documents.
- “Région wallonne, peut établir,par simple décision de l’organe d’administration,des sièges administratifs,agences,ateliers,dépôts et…” (deed in French)
Who represents it, and how
- Board ruleHow the board is made up, meets and takes decisions.
- “Article 11, personnes physiques ou morales,actionnaires ou non” (deed in French)1 more provision on this in the deed
Capital, shares and profit
- Kind of sharesWhich classes of shares exist and what rights each class carries.
- “100, droit égal dans la répartition des bénéfices” (deed in French)“Nominatives, registre des actions nominatives” (deed in French)
- Transfer restrictionWhether shareholders may sell their shares freely or need approval first.
- “Toutes cessions entre vifs à titre onéreux ou gratuit,volontaires ou forcées,exclusion et retrait,usufruit,nue-propriété ou pleine…” (deed in French)
Oversight and winding up
- Dissolution ruleWhen and by whom the company can be dissolved.
- “Formes prévues pour modifications aux statuts, en tout temps” (deed in French)
- Liquidation ruleHow assets are shared after dissolution: creditors first, then shareholders.
- “Quelque cause et moment que ce soit, désigner un ou plusieurs liquidateurs,déterminer pouvoirs et émoluments” (deed in French)