MW Physio
ActiveSummary
MW Physio has been active since 2024 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €61,319 and a net result of €35,877. The computed 12-month bankruptcy probability is 0.4% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 18-12-2024 Normal situation
- Activity
- “Pratique de la kinésithérapie dans tout établissement hospitalier belge ou étranger, au domicile des…” (deed in French)From the articles, 4 activitiesNo NACE code in the KBO yet
- Establishment unit
- 2.368.114.844 7540 Tournai, since 18-12-2024
- Financial year end
- 31 December
- Peppol
- Not found in the Peppol Directory
Board and ownership
- WATTECAMPS Maxime Victor AlbertDirector
- WATTECAMPS Maxime Victor Albert100 sharesact of 20-12-2024
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.4%
- Gross margin
- €50,494
- ▲ 45.9%
- Turnover
- ≈ €150,000
- estimated
- Profit
- €35,877
- ▲ 42.9%
- Equity
- €61,319
- ▲ 133%
- Total assets
- €68,091
- ▲ 78.8%
- Staff
- ≈ 0.1 FTE
- estimated
Score breakdownraises riskFounded in 2024lowers riskLiquidity: current ratio 10.05, cash €32,351Size: total assets €68,091Equity €61,319 (90.1% of total assets)Show the evidence
Checked score
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 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). It does better than 81% of them on solvency, 95% on liquidity, 90% on profitability and 94% on growth.
The bankruptcy probability was computed on 04-11-2026 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.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 2 accounts on average 38 days before the deadline. The Belgian median for financial year 2024 was 4 days before the deadline, and 38% of all filings were late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 23-06-2026 at the NBB all 2 filings
Every figure per financial year
The operating result for 2025 is 32% higher than in 2024.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Investments
| Item | 2024 | 2025 |
|---|---|---|
| Tangible fixed assets | - | €14,500 |
| Depreciation and write-downs of the year | - | €2,998 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Remuneration, social security and pensions62 | - | €1,760 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €2,998 | - |
| Gross operating margin9900 | €34,603 | €50,494 | ▲ 45.9% |
| Operating profit (loss)9901 | €34,603 | €45,736 | ▲ 32.2% |
| Financial income75/76B | - | €0 | - |
| Recurring financial income75 | - | €0 | - |
| Financial charges65/66B | €50 | €57 | ▲ 13.0% |
| Recurring financial charges65 | €50 | €57 | ▲ 13.0% |
| Profit (loss) for the period before taxes9903 | €34,553 | €45,680 | ▲ 32.2% |
| Income taxes67/77 | €9,446 | €9,803 | ▲ 3.8% |
| Profit (loss) for the period9904 | €25,108 | €35,877 | ▲ 42.9% |
| Profit (loss) for the period to be appropriated9905 | €25,108 | €35,877 | ▲ 42.9% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €38,080 | €68,091 | ▲ 78.8% |
| Current assets29/58 | €38,080 | €68,091 | ▲ 78.8% |
| Amounts receivable within one year40/41 | €34,279 | €35,740 | ▲ 4.3% |
| Trade receivables40 | €29,275 | €35,543 | ▲ 21.4% |
| Other amounts receivable41 | €5,004 | €197 | ▼ 96.1% |
| Cash at bank and in hand54/58 | €3,801 | €32,351 | ▲ 751% |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €38,080 | €68,091 | ▲ 78.8% |
| Equity10/15 | €26,275 | €61,319 | ▲ 133% |
| Contributions10/11 | €2,000 | €2,000 | = |
| Reserves13 | €24,275 | €24,275 | = |
| Distributable reserves133 | €24,275 | €24,275 | = |
| Profit (loss) carried forward14 | - | €35,044 | - |
| Amounts payable17/49 | €11,805 | €6,773 | ▼ 42.6% |
| Amounts payable within one year42/48 | €11,805 | €6,773 | ▼ 42.6% |
| Trade debts44 | €1,527 | €543 | ▼ 64.4% |
| Suppliers440/4 | €1,527 | €543 | ▼ 64.4% |
| Taxes, remuneration and social security45 | €9,446 | €5,298 | ▼ 43.9% |
| Taxes450/3 | €9,446 | €5,298 | ▼ 43.9% |
| Other amounts payable47/48 | €833 | €932 | ▲ 11.9% |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | €25,108 | €35,877 | ▲ 42.9% |
| + Depreciation and write-downs630 | - | €2,998 | - |
| Operating cash flow (approximation) | €25,108 | €38,875 | ▲ 54.8% |
| Change in cash | - | €28,550 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 11,279 companies had the same profile as MW Physio has now. Two years later, 96.6% were still going and 0.7% had gone bankrupt.
- Micro
- under 2 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
That fits the bankruptcy probability of MW Physio itself: 0.4% within 12 months.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| 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% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 11,279 companies, not a prediction for MW Physio. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Board & ownership
Directors
Owners and capital
Shareholders
- WATTECAMPS Maxime Victor Albert 100 shares (100%) · €2,000 in cash
Capital transactions
- 20-12-2024 Incorporation · €2,000 · 100 shares
Articles of association
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
Articles of association, deed of 20-12-2024 (in French)
Network & group
MW Physio shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of MW Physio. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
20-12
Gazette deed
IncorporationFounding capital of €2,000, 100 shares · Founder: WATTECAMPS Maxime Victor Albert · Appointment: WATTECAMPS Maxime Victor Albert (director)8 points ▸
- Founder, WATTECAMPS Maxime Victor Albert
- Registered office clause, rue d’Ormont 75, 7540 Tournai
- Founding capital, €2,000, 100 shares
- WATTECAMPS Maxime Victor Albert holds 100 shares
- 100 shares
- Registered office clause, rue d'Ormont 75, 7540 Tournai
- Director appointment, WATTECAMPS Maxime Victor Albert (director (not named in the articles))
- Board rule, 1
- The act holds 4 more points.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
On 18 December 2024, MW Physio was incorporated as a private limited company by one natural person, with a starting capital of €2,000.12 WATTECAMPS Maxime Victor Albert is director of the company, appointed in the act of 20-12-2024.2 The company has filed 2 sets of annual accounts, the latest for financial year 2025.3
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
4 activities
- Pratique de la kinésithérapie dans tout établissement hospitalier belge ou étranger, au domicile des patients et en cabinet privé
- La société peut acquérir des immeubles et effectuer la gestion de tout patrimoine immobilier pour compte propre. Elle pourra réaliser toutes activités d’acquisitions, de rénovations et de locations de biens immobiliers
- Elle peut accomplir toutes opérations commerciales, industrielles, financières, mobilières ou immobilières généralement quelconques se rapportant directement ou indirectement à cet objet
- La société peut s’intéresser par toutes voies dans toutes affaires, entreprises ou sociétés ayant un objet identique, analogue, similaire ou connexe, ou qui sont de nature à favoriser le développement de son entreprise ; à lui procurer des matières premières ou à faciliter l’écoulement de ses produits
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the address
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 57042B0257/00G000 | Wallonia | 1,485 m² | 1 · 149 m² | 8.6 m · 2 |