PHYSAM
ActiveSummary
PHYSAM has been active since 2015 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €64,457 and a net result of -€11,098. Equity is growing by ~38.6% per year across the filed fiscal years. Its solvency ranks better than 92% of 11425 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.8% (low).
Checked score
Score 2025
Axes · tick = 2024
Profitability0▼-93
Solvency100=
Growth52▼-26
Track record100
Bankruptcy probability, 12 months
0.8%
Low
0%0.5%1.5%4%10%≥ 25%
Credit up to €4,000 at 30 days acceptable
Liquidity ample (current ratio 22.4 against 9.07 in 2024; short-term debt: 4.5% and cash: 84.4% of total assets), and 7.4% of the assets are financed with debt.
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Signals
Four signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Wholesale trade (NACE 46)
about 21% more bankruptcies
← fewer bankruptcies
more bankruptcies →
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
92.6%
Return on assets
-15.9%
Age of the figures
9 mo
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-06-2026, 59 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
59 d early
2024
2 d early
2023
26 d early
2022
7 d early
2021
13 d early
2020
15 d early
2019
22 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 21 days before the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 39% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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Financials · fiscal year 2025, micro schema
Equity
€64,457▼ 14.7%
2024 · €75,555
Total assets
€69,602▼ 21.6%
2024 · €88,822
Net result
-€11,098
2024 · €16,899
Working capital
€66,443▼ 15.9%
2024 · €78,976
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Operating result€51,008▲ 574%€13,772▼ 73.0%€28,264▲ 105%€25,479▼ 9.9%-€7,595
Net result€37,264▲ 668%€8,130▼ 78.2%€17,208▲ 112%€16,899▼ 1.8%-€11,098
Equity€33,318€41,448▲ 24.4%€58,656▲ 41.5%€75,555▲ 28.8%€64,457▼ 14.7%
Total assets€62,273▲ 107%€54,559▼ 12.4%€74,533▲ 36.6%€88,822▲ 19.2%€69,602▼ 21.6%
Debt€28,955▼ 14.8%€13,111▼ 54.7%€15,877▲ 21.1%€13,267▼ 16.4%€5,144▼ 61.2%
Working capital€30,122€42,772▲ 42.0%€60,028▲ 40.3%€78,976▲ 31.6%€66,443▼ 15.9%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result turns negative in 2025: a loss of €7,595 after €25,479 in 2024, the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €69,602
Fixed assets
€54 =
Current assets
€69,547 ▼ 21.7%
Equity and liabilities €69,602
Equity
€64,457 ▼ 14.7%
Debt
€5,144 ▼ 61.2%
Debt's share of the balance-sheet total falls from 14.9% to 7.4%. Equity and debt are lower.
Key figures and ratios
EBITDA
-€7,595▼
2024 · €25,552
Cash flow
-€11,098▼
2024 · €16,972
Current ratio
22.40▲
2024 · 9.07
Debt to equity
0.08▼
2024 · 0.18
ROE
-17.2%▼
2024 · 22.4%
ROA
-15.9%▼
2024 · 19.0%
Interest coverage
-2.05▼
2024 · 6.82
Debt ≤ 1 year
€3,105▼
2024 · €9,791
Income taxes
€195▼
2024 · €4,859
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | €33,500 | - | - | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,137 | €4,141 | €303 | €73 | €0 | ▼ 100% |
| Other operating charges640/8 | €825 | €1,601 | €1,054 | €727 | €610 | ▼ 16.1% |
| Non-recurring operating charges66A | €1,537 | €0 | - | - | - | - |
| Gross operating margin9900 | €57,507 | €19,514 | €29,621 | €26,279 | -€6,985 | ▼ 127% |
| Operating profit (loss)9901 | €51,008 | €13,772 | €28,264 | €25,479 | -€7,595 | ▼ 130% |
| Financial income75/76B | €3 | €0 | €52 | €26 | €400 | ▲ 1,426% |
| Recurring financial income75 | €3 | €0 | €52 | €26 | €400 | ▲ 1,426% |
| Non-recurring financial income76B | - | €0 | - | - | - | - |
| Financial charges65/66B | €74 | €187 | €3,664 | €3,747 | €3,708 | ▼ 1.0% |
| Recurring financial charges65 | €74 | €187 | €3,664 | €3,747 | €3,708 | ▼ 1.0% |
| Profit (loss) for the period before taxes9903 | €50,937 | €13,585 | €24,652 | €21,759 | -€10,902 | ▼ 150% |
| Income taxes67/77 | €13,673 | €5,455 | €7,444 | €4,859 | €195 | ▼ 96.0% |
| Profit (loss) for the period9904 | €37,264 | €8,130 | €17,208 | €16,899 | -€11,098 | ▼ 166% |
| Profit (loss) for the period to be appropriated9905 | €37,264 | €8,130 | €17,208 | €16,899 | -€11,098 | ▼ 166% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €62,273 | €54,559 | €74,533 | €88,822 | €69,602 | ▼ 21.6% |
| Fixed assets21/28 | €4,917 | €775 | €127 | €54 | €54 | = |
| Tangible fixed assets22/27 | €4,917 | €775 | €73 | €0 | - | - |
| Furniture and vehicles24 | €4,917 | €775 | €73 | €0 | - | - |
| Financial fixed assets28 | - | - | €54 | €54 | €54 | = |
| Current assets29/58 | €57,356 | €53,783 | €74,406 | €88,767 | €69,547 | ▼ 21.7% |
| Amounts receivable within one year40/41 | €15,874 | €28,375 | €45,044 | €26,126 | €9,598 | ▼ 63.3% |
| Trade receivables40 | €15,874 | €16,347 | €34,967 | €22,985 | €1,227 | ▼ 94.7% |
| Other amounts receivable41 | - | €12,028 | €10,077 | €3,141 | €8,372 | ▲ 167% |
| Cash at bank and in hand54/58 | €40,991 | €24,868 | €27,576 | €60,844 | €58,716 | ▼ 3.5% |
| Deferred charges and accrued income490/1 | €491 | €541 | €1,786 | €1,798 | €1,233 | ▼ 31.4% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €62,273 | €54,559 | €74,533 | €88,822 | €69,602 | ▼ 21.6% |
| Equity10/15 | €33,318 | €41,448 | €58,656 | €75,555 | €64,457 | ▼ 14.7% |
| Contributions10/11 | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Outside capital11 | €6,200 | - | - | - | - | - |
| Other1109/19 | €6,200 | - | - | - | - | - |
| Reserves13 | €224 | €224 | €17,224 | €17,224 | €17,000 | ▼ 1.3% |
| Non-distributable reserves130/1 | €224 | €224 | €224 | €0 | - | - |
| Reserves not available under the articles1311 | €224 | €224 | €224 | €0 | - | - |
| Distributable reserves133 | - | - | €17,000 | €17,224 | €17,000 | ▼ 1.3% |
| Profit (loss) carried forward14 | €26,893 | €35,024 | €35,231 | €52,131 | €41,257 | ▼ 20.9% |
| Amounts payable17/49 | €28,955 | €13,111 | €15,877 | €13,267 | €5,144 | ▼ 61.2% |
| Amounts payable within one year42/48 | €27,234 | €11,011 | €14,377 | €9,791 | €3,105 | ▼ 68.3% |
| Trade debts44 | €3,540 | €1,340 | €1,803 | €1,828 | €2,305 | ▲ 26.1% |
| Suppliers440/4 | €3,540 | €1,340 | €1,803 | €1,828 | €2,305 | ▲ 26.1% |
| Taxes, remuneration and social security45 | €12,021 | €9,671 | €12,574 | €7,963 | €800 | ▼ 90.0% |
| Taxes450/3 | €9,521 | €9,671 | €9,530 | €4,853 | €0 | ▼ 100% |
| Remuneration and social security454/9 | €2,500 | €0 | €3,044 | €3,110 | €800 | ▼ 74.3% |
| Other amounts payable47/48 | €11,673 | €0 | - | - | - | - |
| Accrued charges and deferred income492/3 | €1,721 | €2,100 | €1,500 | €3,476 | €2,040 | ▼ 41.3% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €37,264 | €8,130 | €17,208 | €16,899 | -€11,098 | ▼ 166% |
| + Depreciation and write-downs630 | €4,137 | €4,141 | €303 | €73 | €0 | ▼ 100% |
| Operating cash flow (approximation) | €41,401 | €12,272 | €17,511 | €16,972 | -€11,098 | ▼ 165% |
| Investment in fixed assets (approximation) | - | €0 | €345 | €0 | €0 | - |
| Change in cash | - | -€16,123 | €2,708 | €33,268 | -€2,128 | ▼ 106% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
11-09
State Gazette act
General meeting · Other statementAppointment: Olivier de Bonhome (réviseur d'entreprise) · Declaration · Dissolution11 facts ▸
State Gazette act
General meeting · Other statement
Appointment: Olivier de Bonhome (réviseur d'entreprise) · Declaration · Dissolution11 facts ▸
- General meeting, 06-07-2026
- Other statement, 22-06-2026
- Auditor appointment, Olivier de Bonhome (réviseur d'entreprise)
- Declaration, transmission des rapports, il a été transmis à chaque actionnaire antérieurement à ce jour une copie de ces rapports et de l'état résumant la situation active e…
- General meeting, approuver les deux rapports précités
- Dissolution, dissolution anticipative, la société n'existera plus en conséquence que pour les besoins de sa liquidation
- Power of attorney, SAMAIN Antoine
- Liquidation closure, prononce la clôture de la liquidation, la présente société a définitivement cessé d'exister
- Declaration, actif immobilier, dans l'actif de la société ne figure aucun bien immeuble ni droit immobilier
- General meeting, Toutes les résolutions qui précèdent ont été adoptées à l'unanimité
- Auditor report, 01-07-2026
02-06
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema
2025
31-12
Financial
Weakest financial yearnet -€11,098
Net result drops to -€11,098, the lowest in the series.
31-12
Financial
Liquidity doublescurrent ratio 22.40
Current ratio from 9.07 to 22.40; short-term debt falls from €9,791 to €3,105.
29-07
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema
2024
05-07
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema
2023
24-07
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema
2022
31-12
Financial
Liquidity doublescurrent ratio 4.88
Current ratio from 2.11 to 4.88; short-term debt falls from €27,234 to €11,011.
18-07
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema
2021
31-12
Financial
Highest result since 2018net €37,264 ▲668%
Operating result €51,008, net result €37,264, both a record.
31-12
Financial
Liquidity triplescurrent ratio 2.11
Current ratio from 0.67 to 2.11; short-term debt falls from €32,881 to €27,234.
16-07
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema
Show earlier events
2020
09-07
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema
2019
15-07
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2018
12-07
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2017
04-07
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 4 acts read
About the unread acts
Of the 4 Belgian State Gazette acts we know for this company, 1 has been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
Statutory auditor 1
Olivier de Bonhome
CurrentRéviseur d'entreprise · since 11-09-2026
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Location & real-estate footprint
Registered office, Sombreffe · 1 establishment unit since 2015
Ground area
849 m²
Building footprint
158 m²
Parcel 92074B0019/00F000, Wallonia. Linked by address, not a title deed.
1 establishment unit
PHYSAM
since 20152.243.118.961
1 parcel
Wallonia
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 92074B0019/00F000 | Wallonia | 849 m² | 1 · 158 m² | - |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
1 person since 2026, 1 in office
- Statutory auditor
| Name | Functions and periods |
|---|---|
| Olivier de Bonhome |
|
Articles of association
Liquidation rule
Toutes les dettes à l'égard de l'actionnaire et des tiers ont été remboursées, article 2:80 du code des sociétés et des associations
Custody of records
À compter du jour de la publication de l'extrait de cette assemblée aux Annexes du Moniteur belge, 5140 Sombreffe, Rue de Fleurus, Ligny 14
Other statement
Passif inconnu, dans l'hypothèse où un passif inconnu devait apparaître, l'actionnaire s'engage à l'apurer entièrement
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Of 6,149 companies in sector 46190 we hold annual accounts for 2,571. 1,965 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded19-06-2015
Fiscal year end31-12
Activities, NACEBEL 2025
46190Agents in non-specialised wholesale trade
Contact
E-mail
philippe@physam.comSombreffe
Phone
0475/35.70.00Sombreffe
Scores and ratios are computed by Checked and are not a credit decision.