Physio Max
ActiveSummary
The computed 12-month bankruptcy probability of Physio Max is 2.6% (moderate). The 2025 annual accounts show equity of €4,000 and a net result of €50,045. Equity is shrinking by ~48% per year across the filed fiscal years. The company has been active since 2021 and the Belgian State Gazette contains no insolvency or warning signals.
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Signals
This company filed its last 5 accounts on average 15 days after the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
History
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Financials · fiscal year 2025, micro schema
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Peer companies
Historical observationOf the 2,151 companies that looked in July 2024 the way this one looks now, 1.6% went bankrupt within 24 months and 96% are still going.
- Micro
- 5 to 10 years old
- solvency under 10%
- a profit of 5% of the balance sheet or more
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a higher bankruptcy probability: 2.6% 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 497,662 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.7% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 75% 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 2,151 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 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | €568 | - |
| Remuneration, social security and pensions62 | - | - | €75 | €260 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €9,339 | €9,069 | €9,069 | €15,466 | €7,521 | ▼ 51.4% |
| Other operating charges640/8 | €447 | €2,021 | €1,095 | €654 | €1,093 | ▲ 67.2% |
| Gross operating margin9900 | €55,552 | €40,225 | €53,363 | €83,631 | €77,219 | ▼ 7.7% |
| Operating profit (loss)9901 | €45,767 | €29,135 | €43,124 | €67,252 | €68,605 | ▲ 2.0% |
| Financial income75/76B | - | - | - | €60 | €325 | ▲ 445% |
| Recurring financial income75 | - | - | - | €60 | €325 | ▲ 445% |
| Financial charges65/66B | €1,342 | €873 | €462 | €4,633 | €5,627 | ▲ 21.5% |
| Recurring financial charges65 | €1,342 | €873 | €462 | €4,633 | €5,627 | ▲ 21.5% |
| Profit (loss) for the period before taxes9903 | €44,424 | €28,262 | €42,662 | €62,679 | €63,304 | ▲ 1.0% |
| Income taxes67/77 | €10,754 | €8,748 | €11,440 | €15,823 | €13,259 | ▼ 16.2% |
| Profit (loss) for the period9904 | €33,670 | €19,514 | €31,222 | €46,856 | €50,045 | ▲ 6.8% |
| Profit (loss) for the period to be appropriated9905 | €33,670 | €19,514 | €31,222 | €46,856 | €50,045 | ▲ 6.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €74,329 | €87,752 | €199,513 | €190,309 | €173,036 | ▼ 9.1% |
| Fixed assets21/28 | €26,888 | €17,819 | €143,060 | €127,595 | €128,435 | ▲ 0.7% |
| Tangible fixed assets22/27 | €26,888 | €17,819 | €143,060 | €127,595 | €128,435 | ▲ 0.7% |
| Furniture and vehicles24 | €26,888 | €17,819 | €8,750 | €0 | €3,873 | - |
| Other tangible fixed assets26 | - | - | €134,310 | €127,595 | €124,562 | ▼ 2.4% |
| Current assets29/58 | €47,441 | €69,933 | €56,453 | €62,715 | €44,601 | ▼ 28.9% |
| Amounts receivable within one year40/41 | €34,449 | €36,134 | €13,410 | €0 | €3,066 | - |
| Trade receivables40 | €9 | - | - | - | €1,236 | - |
| Other amounts receivable41 | €34,440 | €36,134 | €13,410 | €0 | €1,830 | - |
| Current investments50/53 | - | - | - | €500 | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €11,829 | €33,484 | €43,043 | €61,812 | €40,830 | ▼ 33.9% |
| Deferred charges and accrued income490/1 | €1,163 | €316 | - | €403 | €705 | ▲ 75.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €74,329 | €87,752 | €199,513 | €190,309 | €173,036 | ▼ 9.1% |
| Equity10/15 | €37,670 | €57,184 | €4,000 | €4,000 | €4,000 | = |
| Contributions10/11 | €4,000 | €4,000 | €4,000 | €4,000 | €4,000 | = |
| Reserves13 | - | €53,184 | - | - | - | - |
| Distributable reserves133 | - | €53,184 | - | - | - | - |
| Profit (loss) carried forward14 | €33,670 | - | - | €0 | €0 | - |
| Amounts payable17/49 | €36,659 | €30,568 | €195,513 | €186,309 | €169,036 | ▼ 9.3% |
| Amounts payable after more than one year17 | €17,729 | €9,284 | €111,000 | €103,954 | €99,923 | ▼ 3.9% |
| Financial debts170/4 | €17,729 | €9,284 | €111,000 | €103,954 | €99,923 | ▼ 3.9% |
| Amounts payable within one year42/48 | €18,930 | €21,284 | €84,513 | €82,355 | €69,113 | ▼ 16.1% |
| Current portion of amounts payable after more than one year42 | €8,327 | €8,445 | €9,284 | €5,213 | €4,031 | ▼ 22.7% |
| Trade debts44 | €1,512 | - | €71 | €700 | €634 | ▼ 9.4% |
| Suppliers440/4 | €1,512 | - | €71 | €700 | €634 | ▼ 9.4% |
| Taxes, remuneration and social security45 | €9,092 | €12,839 | €16,074 | €13,561 | €6,494 | ▼ 52.1% |
| Taxes450/3 | €9,092 | €12,839 | €14,174 | €10,411 | €3,344 | ▼ 67.9% |
| Remuneration and social security454/9 | - | - | €1,900 | €3,150 | €3,150 | = |
| Other amounts payable47/48 | - | - | €59,084 | €62,881 | €57,954 | ▼ 7.8% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €33,670 | €19,514 | €31,222 | €46,856 | €50,045 | ▲ 6.8% |
| + Depreciation and write-downs630 | €9,339 | €9,069 | €9,069 | €15,466 | €7,521 | ▼ 51.4% |
| Operating cash flow (approximation) | €43,009 | €28,583 | €40,291 | €62,322 | €57,566 | ▼ 7.6% |
| Investment in fixed assets (approximation) | - | €0 | -€134,310 | €0 | -€8,362 | - |
| Change in cash | - | €21,655 | €9,559 | €18,769 | -€20,983 | ▼ 212% |
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
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
Directors · office · real estate
1 establishment unit
1 parcel
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 53066C0537/00K000 | Wallonia | 703 m² | 1 · 111 m² | 6.7 m · 2 fl. |
Linked by address, not proof of ownership
Identification & contact
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 28 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.