PHYSICO
Annual accounts 2025
micro format, filed on 27-07-2026, 4 days before the deadlineTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €130,000. Estimated: probably between €58,000 and €300,000.
Balance sheet
balance sheet total €22,840 on 31-12-2025in euro
in euro
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||
20/58 |
22,840 | 22,263 | 29,506 | 44,796 | 41,632 | 52,489 | 63,364 | 63,632 | 84,827 | |
21/28 |
3,670 | 10,609 | 15,858 | 24,177 | 34,017 | 45,241 | 52,031 | 55,323 | 65,220 | |
21 |
3,058 | 9,458 | 15,858 | 22,258 | 28,658 | 35,058 | 41,458 | 47,858 | 54,258 | |
22/27 |
612 | 1,152 | - | 1,919 | 5,359 | 10,183 | 10,573 | 7,465 | 10,962 | |
23 |
- | - | - | 1,573 | 3,146 | 5,942 | 10,074 | 6,484 | 9,344 | |
24 |
612 | 1,152 | - | 346 | 2,213 | 4,241 | 499 | 981 | 1,619 | |
29/58 |
19,170 | 11,654 | 13,648 | 20,619 | 7,615 | 7,248 | 11,333 | 8,309 | 19,607 | |
40/41 |
13 | 5,200 | 2,882 | 1,446 | 1,890 | 140 | - | - | - | |
40 |
13 | - | - | - | - | 140 | - | - | - | |
41 |
- | 5,200 | 2,882 | 1,446 | 1,890 | - | - | - | - | |
54/58 |
17,668 | 4,757 | 9,982 | 18,742 | 5,323 | 6,629 | 10,888 | 7,791 | 19,439 | |
490/1 |
1,489 | 1,697 | 784 | 430 | 402 | 479 | 445 | 519 | 168 | |
| Balance sheet: equity and liabilities | ||||||||||
10/49 |
22,840 | 22,263 | 29,506 | 44,796 | 41,632 | 52,489 | 63,364 | 63,632 | 84,827 | |
10/15 |
5,230 | 20,052 | 24,347 | 39,356 | 28,683 | 32,883 | 36,746 | 37,665 | 36,608 | |
10/11 |
1,000 | 22,000 | 30,000 | 40,000 | 40,000 | 40,000 | 40,000 | 40,000 | 40,000 | |
100 |
- | - | - | - | - | - | 40,000 | 40,000 | 40,000 | |
13 |
4,230 | - | - | - | - | - | - | - | - | |
133 |
4,230 | - | - | - | - | - | - | - | - | |
14 |
- | -1,948 | -5,653 | -644 | -11,317 | -7,117 | -3,254 | -2,335 | -3,392 | |
17/49 |
17,610 | 2,211 | 5,159 | 5,440 | 12,948 | 19,606 | 26,617 | 25,967 | 48,219 | |
17 |
- | - | - | 4,000 | 12,000 | 19,250 | 5,000 | - | - | |
170/4 |
- | - | - | 4,000 | 12,000 | 19,250 | 5,000 | - | - | |
42/48 |
17,610 | 2,211 | 5,118 | 1,440 | 948 | 356 | 21,617 | 25,967 | 48,219 | |
44 |
1,306 | 248 | 712 | 282 | 45 | 77 | 1,271 | 1,711 | 1,735 | |
440/4 |
1,306 | 248 | 712 | 282 | 45 | 77 | 1,271 | 1,711 | 1,735 | |
45 |
4,170 | 1,700 | 1,700 | - | 109 | 223 | 8,005 | 11,322 | 8,847 | |
450/3 |
2,970 | - | - | - | 109 | 223 | 1,005 | 1,322 | 647 | |
454/9 |
1,200 | 1,700 | 1,700 | - | - | - | 7,000 | 10,000 | 8,200 | |
47/48 |
12,134 | 264 | 2,706 | 1,158 | 795 | 56 | 12,342 | 12,934 | 37,638 | |
492/3 |
- | - | 41 | - | - | - | - | - | - | |
| Income statement | ||||||||||
9900 |
16,595 | 12,258 | 4,059 | 22,492 | 7,534 | 8,879 | 10,682 | 12,389 | 13,290 | |
630 |
6,940 | 6,867 | 8,319 | 9,840 | 11,224 | 12,391 | 11,157 | 9,897 | 15,066 | |
640/8 |
243 | 762 | 608 | 388 | 362 | 202 | 234 | 289 | 506 | |
9901 |
9,412 | 4,629 | -4,868 | 12,265 | -4,051 | -3,714 | -709 | 2,203 | -2,281 | |
75/76B |
48 | 52 | 33 | - | - | 1 | 47 | 5 | 9 | |
75 |
48 | 52 | 33 | - | - | 1 | 47 | 5 | 9 | |
65/66B |
298 | 280 | 46 | 39 | 39 | 42 | 167 | 261 | 687 | |
65 |
298 | 280 | 46 | 39 | 39 | 42 | 167 | 261 | 687 | |
9903 |
9,162 | 4,400 | -4,881 | 12,226 | -4,090 | -3,755 | -829 | 1,947 | -2,959 | |
67/77 |
2,984 | 696 | 128 | 1,554 | 110 | 109 | 90 | 890 | 433 | |
9904 |
6,178 | 3,705 | -5,008 | 10,672 | -4,199 | -3,863 | -919 | 1,057 | -3,392 | |
9905 |
6,178 | 3,705 | -5,008 | 10,672 | -4,199 | -3,863 | -919 | 1,057 | -3,392 | |
| Appropriation of the result | ||||||||||
9906 |
4,230 | -1,948 | -5,653 | -644 | -11,317 | -7,117 | -3,254 | -2,335 | -3,392 | |
14P |
-1,948 | -5,653 | -644 | -11,317 | -7,117 | - | - | - | - | |
691/2 |
4,230 | - | - | - | - | - | - | - | - | |
6921 |
4,230 | - | - | - | - | - | - | - | - | |
| Document | ||||||||||
The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 27-07-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 27-07-2026 | 2026-00332802 | |
| 31-12-2024 | micro format | 11-07-2025 | 2025-00258497 | |
| 31-12-2023 | micro format | 04-07-2024 | 2024-00233823 | |
| 31-12-2022 | micro format | 10-07-2023 | 2023-00232772 | |
| 31-12-2021 | micro format | 04-07-2022 | 2022-20122714 | |
| 31-12-2020 | micro format | 28-07-2021 | 2021-41300038 | |
| 31-12-2019 | micro format | 30-07-2020 | 2020-38900306 | |
| 31-12-2018 | micro format | 26-07-2019 | 2019-38500541 | |
| 31-12-2017 | micro format | 30-08-2018 | 2018-56200573 |
Subsidies and aid
Flemish government 2022, 1 entry, €84 awarded, €84 paid
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| 16,352 | 11,496 | 3,452 | 22,105 | 7,173 | 8,677 | 10,447 | 12,100 | 12,785 | ||
| 13,118 | 10,572 | 3,311 | 20,512 | 7,024 | 8,527 | 10,238 | 10,954 | 11,674 | ||
| 0 | 1,619 | 0 | 0 | 0 | 5,600 | 7,865 | 0 | 80,286 | ||
| 12,911 | -5,225 | -8,760 | 13,419 | -1,306 | -4,259 | 3,097 | -11,649 | - | ||
| 1,560 | 9,442 | 8,530 | 19,179 | 6,667 | 6,892 | -10,285 | -17,658 | -28,612 | ||
| 22.9% | 90.1% | 82.5% | 87.9% | 68.9% | 62.6% | 58.0% | 59.2% | 43.2% | ||
| 1.09 | 5.27 | 2.67 | 14.32 | 8.03 | 20.38 | 0.52 | 0.32 | 0.41 | ||
| 3.37 | 0.11 | 0.21 | 0.14 | 0.45 | 0.60 | 0.72 | 0.69 | 1.32 | ||
| 118.1% | 18.5% | -20.6% | 27.1% | -14.6% | -11.7% | -2.5% | 2.8% | -9.3% | ||
| 27.0% | 16.6% | -17.0% | 23.8% | -10.1% | -7.4% | -1.4% | 1.7% | -4.0% | ||
| 54.80 | 41.02 | 74.31 | over 100 | over 100 | - | - | - | - |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €1,619 | - | - | - |
| €6,940 | €6,867 | €8,319 | €9,840 | €11,224 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Insights on PHYSICO
The operating result for 2025 is 103% higher than in 2024 and the highest since 2022. It is the second rise in a row, after the fall in 2023.
Debt's share of the balance-sheet total rises from 9.9% to 77.1%. Equity is lower and debt is higher.