Equity
€6,287 ▲ 233%
PHYSIO'ADAPT paid out €750 in dividends. That is 15% of the 2025 profit.
PHYSIO'ADAPT
Overview
Lifetime
3 annual accounts with figures on one time axispeak €9,709 (2025)
€9,709▲ 6.4%
lowest -€3,366 (2023)
€5,150▼ 8.3%
peak €6,287 (2025)
€6,287▲ 233%
€23,389▲ 36.8%
Board1 name since 2023
1 directorDE GRAVE Julien Gilbert François
Documentsfilings and deeds
29-06-202632 days before the deadline
2025micro format
Dividend €750Equity from €1,888 to €6,287Debts from €17,095 to €23,389Cash from €9,979 to €24,715
Key points
from the 2025 annual accountsTurnover
≈ €57,000 estimated
The micro format states no turnover.
Debts
€23,389 79% of the balance sheet
Suppliers 13%Taxes and wages 32%Other 55%
Filings
3 annual accounts 1 late
The 2023 accounts came 20 days late. The other two were filed on time.
Starting capital
€500
Position in the sector
€6,287
Less equity than 89% of companies in human health. Sector median €124,598 · 20,769 companies.
Checked score
94
Excellent
Financially stronger than 49% of micro companies in human health (NACE 86)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
0.1% Very low
0%0.5%1.5%4%10%≥ 25%
The dashed line is the sector median: < 0.1% across 24,185 companies (NACE 86, micro).
Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Last 24 months
12-2024: 0.1%
01-2025: 0.1%● unchanged vs 12-2024
02-2025: 0.1%● unchanged vs 01-2025
03-2025: 0.1%● unchanged vs 02-2025
04-2025: 0.1%● unchanged vs 03-2025
05-2025: 0.1%● unchanged vs 04-2025
06-2025: 0.2%▲ +0.1 percentage points vs 05-2025
07-2025: 0.2%● unchanged vs 06-2025highest value
08-2025: < 0.1%▼ -0.2 percentage points vs 07-2025
09-2025: < 0.1%● unchanged vs 08-2025
10-2025: < 0.1%● unchanged vs 09-2025
11-2025: < 0.1%● unchanged vs 10-2025
12-2025: < 0.1%● unchanged vs 11-2025
01-2026: < 0.1%● unchanged vs 12-2025
02-2026: < 0.1%● unchanged vs 01-2026lowest value
03-2026: 0.1%▲ +0.1 percentage points vs 02-2026
04-2026: 0.1%● unchanged vs 03-2026
05-2026: 0.1%● unchanged vs 04-2026
06-2026: 0.2%▲ +0.1 percentage points vs 05-2026
07-2026: 0.1%▼ -0.1 percentage points vs 06-2026
08-2026: 0.1%● unchanged vs 07-2026
09-2026: 0.1%● unchanged vs 08-2026
10-2026: 0.1%● unchanged vs 09-2026
11-2026: 0.1%● unchanged vs 10-2026
Financial strengthStrong
Score breakdown
raises risk
1 change of registered office in 24 months
lowers risk
Sector: Human health activities (NACE 86)
Liquidity: current ratio 1.26, cash €24,715
Figures for financial year 2025 (filed on 29-06-2026)
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 (NACE 86, micro). It does better than 21% of them on solvency, 33% on liquidity, 46% on profitability and 96% on growth.
The bankruptcy probability was computed on 09-11-2026 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).
Comparable companies, two years later
In July 2024, 7,976 companies had the same profile as PHYSIO'ADAPT has now. Each dot stands for 20 companies, two years later.
94.3%
were still trading
1.8%
stopped another way
3.6%
went bankrupt
Another 0.3% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of PHYSIO'ADAPT itself is lower: 0.1% within 12 months. It rests on far more data about PHYSIO'ADAPT than the profile alone.
Test of the method
The method was tested on the 497,447 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 7,976 companies, not a prediction for PHYSIO'ADAPT. 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.
Credit verdict
Credit of up to €500 on 30-day terms is acceptable
Liquidity is tight, with a current ratio of 1.26 (0.91 in 2024), below the usual 1.5. Short-term debt is 78.8% and cash 83.3% of total assets. 78.8% of the assets are financed with debt and provisions.
Credit check for an amount and term of your choice
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
Signals
Six signals.
lowers riskraises riskneutral
raises risk · Weak solvency compared with the sector
Solvency (equity / total assets) is in the sector's weakest quartile: better than 20% of 20767 sector peers (2025).
NBB · sector comparisonPosition among 20767 sector peers
Solvency
better than 20%
← weakest
strongest →
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 29-06-2026, 32 days ahead of the deadline.
NBB · 3 filingsDeviation from the deadline
2025
32 days early
2024
14 days early
2023
20 days late
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
The company filed its last 3 accounts on average 9 days before the deadline. In the sector (NACE 86), the median for financial year 2024 was 7 days before the deadline, and 36% of those companies filed late.
Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 17 July (3 of the last 3 accounts filed within 35 days either side of that date).
Companies Code · seven monthsWhere today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
Recent changes
Registered office moved from Koekelberg to Schaerbeek
New registered office: Avenue du Diamant 169 boîte 6, 1030 Schaerbeek · Previous registered office: Avenue du Château 50 1081 Koekelberg · Board meeting of 10-04-2026 · Gazette deed
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0802881767
Incorporation
Founding capital of €500 · Founder: DE GRAVE Julien Gilbert François (comparant) · Founding capital of EUROS 500 · Appointment: DE GRAVE Julien Gilbert François (director) · published on 21-06-2023 · Gazette deed
First establishment
Kasteellaan 50, Koekelberg
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| PHYSIO'ADAPT Schaerbeek | €29,677 | €9,709 | 21.2% | - |
| MATICHA Grez-Doiceau | €30,314 | €9,547 | 52.0% | - |
| Carolus Lisa Heist-op-den-Berg | €29,390 | €10,542 | 73.6% | - |
| Bobbi Ray Antwerp | €31,907 | €10,371 | 77.3% | - |
| Lavaco Heist-op-den-Berg | €26,507 | €10,522 | 36.7% | - |
| THELMA TABAR KINESITHERAPEUTE Juprelle | €32,781 | €8,360 | 38.1% | - |
| Kine–Move On Wommelgem | €35,051 | €8,308 | 90.8% | - |
These companies have the same main activity as PHYSIO'ADAPT: physiotherapy (NACE 86951). They are comparable in size and age: total assets between €26,500 and €35,100, founded in 2023.
Official details
Source: KBO- Status
- Active since 19-06-2023Normal situation
- Activity
- PhysiotherapyNACE 86951and 4 others
- Establishment unit
- 2.346.637.5591081 Koekelberg, since 19-06-2023
- Financial year end
- 31 December
- Peppol
- Reachable since 05-07-2023
Annual accounts 2025
- €9,709▲ 6.4%
- €5,150▼ 8.3%
- €6,287▲ 233%
- €29,677▲ 56.3%
- Filing
- Filed on 29-06-2026, 32 days before the end of the filing period
Insights on PHYSIO'ADAPT
PHYSIO'ADAPT files the micro format. That format states no turnover. The gross margin rose from -€2,503 in 2023 to €9,709 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
Financials
Annual accounts 2025
micro format, filed on 29-06-2026, 32 days before the deadline€9,709
▲ 6.4%
€7,940
▲ 1.2%
€5,150
▼ 8.3%
€6,091
▲ €7,605
21.2%
▲ 11.2 percentage points
1.26
▲ 0.35
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €57,000. Estimated: probably between €39,000 and €100,000.
Balance sheet
balance sheet total €29,677 on 31-12-2025What the company ownsHow it is paid for
in euro
in euro
Position in the sector
21.2%
Higher than 20% of 20,767 companies in 2025.
1.26
Higher than 27% of 20,341 companies in 2025.
17.4%
Higher than 43% of 20,623 companies in 2025.
PHYSIO'ADAPT
Middle half of the sector
80% of the sector
Micro accounts in human health (NACE 86)
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: bottom quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Balance sheet: assets | ||||
20/58 |
29,677 | 18,983 | 20,565 | |
21/28 |
197 | 3,403 | 4,675 | |
22/27 |
197 | 3,403 | 4,675 | |
24 |
197 | 3,403 | 4,675 | |
29/58 |
29,480 | 15,581 | 15,890 | |
40/41 |
4,760 | 4,663 | - | |
40 |
1,789 | 1,692 | - | |
41 |
2,971 | 2,971 | - | |
54/58 |
24,715 | 9,979 | 15,761 | |
490/1 |
5 | 939 | 129 | |
| Balance sheet: equity and liabilities | ||||
10/49 |
29,677 | 18,983 | 20,565 | |
10/15 |
6,287 | 1,888 | -2,866 | |
10/11 |
500 | 500 | 500 | |
14 |
5,787 | 1,388 | -3,366 | |
17/49 |
23,389 | 17,095 | 23,431 | |
42/48 |
23,389 | 17,095 | 23,431 | |
44 |
3,033 | 600 | 34 | |
440/4 |
3,033 | 600 | 34 | |
45 |
7,384 | 5,522 | 2,572 | |
450/3 |
7,384 | 5,522 | 72 | |
454/9 |
- | - | 2,500 | |
47/48 |
12,973 | 10,974 | 20,825 | |
| Income statement | ||||
9900 |
9,709 | 9,120 | -2,503 | |
630 |
472 | 1,272 | 742 | |
640/8 |
1,296 | - | - | |
9901 |
7,940 | 7,848 | -3,246 | |
65/66B |
657 | 209 | 48 | |
65 |
657 | 209 | 48 | |
9903 |
7,283 | 7,639 | -3,294 | |
67/77 |
2,134 | 2,025 | 72 | |
9904 |
5,150 | 5,613 | -3,366 | |
9905 |
5,150 | 5,613 | -3,366 | |
| Appropriation of the result | ||||
9906 |
6,537 | 2,247 | -3,366 | |
14P |
1,388 | -3,366 | - | |
694/7 |
750 | 859 | - | |
694 |
750 | 859 | - | |
| Social balance sheet | ||||
Hours worked1013 |
- | - | 0 | |
| Document | ||||
The notes to these accounts have 6 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 29-06-2026.
Filings
each dot is a set of accounts, on the day it reached the National BankKey figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| 8,412 | 9,120 | -2,503 | ||
| 5,622 | 6,886 | -2,624 | ||
| -2,733 | 0 | 5,417 | ||
| 14,736 | -5,782 | - | ||
| 6,091 | -1,515 | -7,541 | ||
| 21.2% | 9.9% | -13.9% | ||
| 1.26 | 0.91 | 0.68 | ||
| 3.72 | 9.06 | - | ||
| 81.9% | 297.3% | - | ||
| 17.4% | 29.6% | -16.4% | ||
| 12.81 | 43.54 | -51.72 |
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.
Social balance sheet
| Item | 31-12-2023 |
|---|---|
| Employees at the balance-sheet date | 0 |
| full-time | 0 |
| part-time | 0 |
Source: social balance sheet in the 2023 annual accounts
Investments
fixed assets acquired| Item | 2025 | 2024 | 2023 |
|---|---|---|---|
| Tangible fixed assets | - | - | €5,417 |
| €472 | €1,272 | €742 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Insights on PHYSIO'ADAPT
The operating result for 2025 is 1% higher than in 2024 and the highest since 2023. It is the second rise in a row.
Debt's share of the balance-sheet total falls from 90.1% to 78.8%. Equity and debt are higher.
Board & ownership
Board
1 director, since incorporationDirector (not named in the articles)
since 19-06-2023
term without a fixed end
listed in the 2025 annual accounts, filed on 29-06-2026
Mandates through the years
1 name, the dashed line is todayDE GRAVE Julien Gilbert François
Director (not named in the articles)
Director (not named in the articles)
Board
Mandates as a list
- DE GRAVE Julien Gilbert François
- Director (not named in the articles), from 19-06-2023 to date
Control
Founder
This company
PHYSIO'ADAPT
Equity €6,287
Profit €5,150 in 2025
Capital
- Contribution
- €500
- Shares
- 100
- Contribution per share
- €5
- Equity per share
- €62.87 in 2025
- Source
- deed of 21-06-2023
Articles of association
deed of 21-06-2023 (in French)- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimited
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Second Thursday of June
- 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
Founder
At incorporation
deed of 21-06-2023 ↗
- DE GRAVE Julien Gilbert François sole founder · 100% at incorporation
Capital transactions
Capital over time
- 21-06-2023 Incorporation · €500
- 21-06-2023 Incorporation · 100 shares
Network & group
No group
PHYSIO'ADAPT has no parent and no holdings in its annual accounts. DE GRAVE Julien Gilbert François is the only director. PHYSIO'ADAPT shares no director with another company.
At the same address
Diamantlaan 169, 1030 Schaerbeek · 2 other companies| Baccini, Federico (sole trader)
establishment since 01-01-2025 |
founded in 2025 1018.853.356 |
| Van Soest, Bernadette (sole trader)
establishment since 02-10-1978 |
founded in 1978 0857.217.506 |
Timeline
Timeline
8 events since 2023Filings
Financial
Establishments
Address
2023202420252026
Deadline for the 2026 accounts: 31-07-2027
2026
Annual accounts 2025 filed NBBmicro format · 32 days before the deadline
Registered office moved from Koekelberg to SchaerbeekNew registered office: Avenue du Diamant 169 boîte 6, 1030 Schaerbeek · Previous registered office: Avenue du Château 50 1081 Koekelberg · Board meeting of 10-04-20262 points ▸
- Board meeting, 10-04-2026
- Registered-office move, Avenue du Diamant 169 boîte 6, 1030 Schaerbeek
2025
Annual accounts 2024 filed PDFmicro format · 14 days before the deadline
2024
Back to profit net €5,613 The net result is €5,613, after one loss-making year.
Annual accounts 2023 filed PDFmicro format · 20 days late
2023
Registered in the Peppol Directory Reachable for e-invoices through 0208:0802881767
IncorporationFounding capital of €500 · Founder: DE GRAVE Julien Gilbert François (comparant) · Founding capital of EUROS 500 · Appointment: DE GRAVE Julien Gilbert François (director) · published on 21-06-20236 points ▸
- Founder, DE GRAVE Julien Gilbert François (comparant)
- Founding capital, euros 500
- 100 shares
- Registered office clause, Avenue du Château 50, 1081 Bruxelles (Koekelberg)
- Director appointment, DE GRAVE Julien Gilbert François (director (not named in the articles))
- Permanent representative, DE GRAVE Julien Gilbert François
- The deed holds 4 more points.
First establishment Kasteellaan 50, Koekelberg
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
History
PHYSIO'ADAPT was incorporated on 19 June 2023 as a private limited company by one natural person, with a starting capital of €500.12 The registered office was moved to Schaerbeek in 2026.3 Since 2023, DE GRAVE Julien Gilbert François has served as director.4 Total assets rose from €20,565 in 2023 to €29,677 in 2025.5
Company details
Identity
- Enterprise number
- 0802.881.767
- VAT number
- BE 0802.881.767
- Peppol ID
- 0208:0802881767
- Other Peppol ID
- 9925:BE0802881767
- Legal form
- Private limited company
- Status
- Active, normal situation
- Founded
- 19-06-2023
- Financial year
- ends on 31 December
- Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
- Second Thursday of Junedeed of 21-06-2023 (in French)
- Peppol
- Reachable since 05-07-2023Follow this company and you will hear the next morning if it leaves the Peppol register.
- Name
- PHYSIO'ADAPT in French
- Entity type
- Legal entity
- DurationMost companies exist for an unlimited period, until they are dissolved.
- Unlimiteddeed of 21-06-2023 (in French)
- Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
- “Région de Bruxelles-Capitale”deed of 21-06-2023 (in French)
Activities
NACEBEL 202586951
Physiotherapy main activity
85592
Vocational training
85599
Other education
- PurposeThe purpose describes the activities the company may carry out under its articles.
- “La pratique de la kinésithérapie ainsi que toute activité ayant un rapport direct ou indirect avec la kinésithérapie; La…”deed of 21-06-2023 (in French)
6 activities
- La pratique de la kinésithérapie ainsi que toute activité ayant un rapport direct ou indirect avec la kinésithérapie
- La vente,l’achat,l’entretien,la location,la livraison de matériel thérapeutique(élastique,poids,taping,…)
- L’organisation de formation continue pour kinésithérapeute
- Coaching en préparation physique
- L’organisation,la gestion,la création,la présentation,la prestation de formation ayant un rapport direct ou indirect avec la kinésithérapie
- La gestion,la valorisation d’un patrimoine immobilier,notamment par l’achat de la pleine propriété ou de droits réels,la vente,la location,la mise en location,la construction,le tout au sens le plus large
Registered office and establishments
1 establishment| Establishment | Since | Unit number |
|---|---|---|
| Diamantlaan 169 registered office 1030 Schaerbeek | ||
| Kasteellaan 50 1081 Koekelberg | 19-06-2023 | 2.346.637.559 |
1 former office
- Avenue du Château 50, 1081 Koekelberg until 10-04-2026 · deed of 11-05-2026
Buildings and parcels at the addresses
- Ground area
- 1,205 m²
- Buildings
- 760 m²
- Volume, LiDAR
- 14,336 m³
- Tallest building
- 24.4 m
Buildings to scale, each on its own parcel
Parcels
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 21011A0013/00Y000 | 921 m² | 1 · 577 m² | 22.1 m · 6 |
| 21905C0149/00A009 | 284 m² | 1 · 183 m² | 24.4 m · 6 |