PhysioNext
Annual accounts 2025
micro format, filed on 22-12-2025, 40 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 ≈ €140,000. Estimated: probably between €94,000 and €240,000.
Balance sheet
balance sheet total €311,306 on 30-06-2025Change in equityin euro
Change in cashin euro
Position in the sector
Solvency14.3%
Higher than 17% of 20,749 companies in 2025.
Current ratio1.63
Higher than 34% of 20,323 companies in 2025.
Return on assets-5.8%
Lower than 95% of 20,605 companies in 2025.
Net result: bottom quarter · Equity: middle half · Balance sheet total: middle half · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||
Total assets20/58 |
311,306 | 187,724 | 76,711 | 65,455 | 78,735 | |
Fixed assets21/28 |
258,947 | 129,453 | 28,042 | 37,295 | 49,332 | |
Tangible fixed assets22/27 |
258,947 | 129,453 | 28,042 | 37,295 | 49,332 | |
Plant, machinery and equipment23 |
12,031 | 15,501 | 2,289 | - | - | |
Furniture and vehicles24 |
62,026 | 57,952 | 25,258 | 37,295 | 49,332 | |
Other tangible fixed assets26 |
184,890 | 56,000 | 495 | - | - | |
Current assets29/58 |
52,359 | 58,271 | 48,669 | 28,160 | 29,403 | |
Amounts receivable within one year40/41 |
4,783 | - | - | - | - | |
Other amounts receivable41 |
4,783 | - | - | - | - | |
Cash at bank and in hand54/58 |
38,833 | 48,066 | 30,791 | 13,085 | 13,895 | |
Deferred charges and accrued income490/1 |
8,744 | 10,205 | 17,878 | 15,075 | 15,508 | |
| Balance sheet: equity and liabilities | ||||||
Total equity and liabilities10/49 |
311,306 | 187,724 | 76,711 | 65,455 | 78,735 | |
Equity10/15 |
44,531 | 62,663 | 45,437 | 30,827 | 30,127 | |
Contributions10/11 |
5,000 | 5,000 | 5,000 | 5,000 | 5,000 | |
Reserves13 |
57,663 | 57,663 | 40,437 | 25,827 | 25,127 | |
Distributable reserves133 |
57,663 | 57,663 | 40,437 | 25,827 | 25,127 | |
Profit (loss) carried forward14 |
-18,132 | - | - | - | - | |
Amounts payable17/49 |
266,775 | 125,062 | 31,274 | 34,628 | 48,608 | |
Amounts payable after more than one year17 |
234,559 | 99,848 | 11,557 | 20,440 | 29,737 | |
Financial debts170/4 |
234,559 | 99,848 | 11,557 | 20,440 | 29,737 | |
Amounts payable within one year42/48 |
32,215 | 25,094 | 19,717 | 14,188 | 18,871 | |
Current portion of amounts payable after more than one year42 |
25,393 | 17,516 | 9,383 | 9,297 | 9,212 | |
Trade debts44 |
1,263 | 72 | 3,113 | 3,792 | - | |
Suppliers440/4 |
1,263 | 72 | 3,113 | 3,792 | - | |
Taxes, remuneration and social security45 |
4,592 | 6,506 | 7,216 | 1,095 | 9,659 | |
Taxes450/3 |
4,592 | 4,717 | 6,154 | 899 | 9,659 | |
Remuneration and social security454/9 |
0 | 1,789 | 1,062 | 196 | - | |
Other amounts payable47/48 |
968 | 1,000 | 4 | 4 | - | |
Accrued charges and deferred income492/3 |
0 | 120 | - | - | - | |
| Income statement | ||||||
Gross operating margin9900 |
23,221 | 40,655 | 34,820 | 14,371 | 45,234 | |
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 |
22,215 | 13,710 | 12,668 | 12,037 | 10,108 | |
Other operating charges640/8 |
12,000 | 496 | 237 | 321 | - | |
Operating profit (loss)9901 |
-10,994 | 26,449 | 21,915 | 2,013 | 35,126 | |
Financial income75/76B |
0 | 89 | - | - | - | |
Recurring financial income75 |
0 | 89 | - | - | - | |
Financial charges65/66B |
6,920 | 3,306 | 1,151 | 414 | 340 | |
Recurring financial charges65 |
6,920 | 3,306 | 1,151 | 414 | 340 | |
Profit (loss) for the period before taxes9903 |
-17,914 | 23,231 | 20,764 | 1,599 | 34,786 | |
Income taxes67/77 |
217 | 6,006 | 6,154 | 899 | 9,659 | |
Profit (loss) for the period9904 |
-18,132 | 17,225 | 14,610 | 700 | 25,127 | |
Profit (loss) for the period to be appropriated9905 |
-18,132 | 17,225 | 14,610 | 700 | 25,127 | |
| Appropriation of the result | ||||||
Profit (loss) to be appropriated9906 |
-18,132 | 17,225 | 14,610 | 700 | 25,127 | |
Transfer to equity691/2 |
0 | 17,225 | 14,610 | 700 | 25,127 | |
To other reserves6921 |
0 | 17,225 | 14,610 | 700 | 25,127 | |
| Document | ||||||
The notes to these accounts have 8 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).
Source: Annual accounts 2025 (PDF), filed on 22-12-2025.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 22-12-2025 | 2025-00588305 | |
| 30-06-2024 | micro format | 09-12-2024 | 2024-00612242 | |
| 30-06-2023 | micro format | 30-11-2023 | 2023-00518851 | |
| 30-06-2022 | micro format | 16-12-2022 | 2022-20538787 | |
| 30-06-2021 | micro format | 21-12-2021 | 2021-81200160 |
Subsidies and aid
Flemish government 2022, 1 entry, €150 awarded, €150 paid
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| EBITDA | 11,221 | 40,159 | 34,583 | 14,050 | 45,234 | |
| Cash flow | 4,083 | 30,935 | 27,278 | 12,737 | 35,235 | |
| Investment in fixed assets (approximation) | 207,702 | 140,213 | 3,415 | 0 | 59,440 | |
| Change in cash | -9,234 | 17,275 | 17,706 | -809 | - | |
| Working capital | 20,144 | 33,178 | 28,952 | 13,972 | 10,532 | |
| Solvency | 14.3% | 33.4% | 59.2% | 47.1% | 38.3% | |
| Current ratio | 1.63 | 2.32 | 2.47 | 1.98 | 1.56 | |
| Debt to equity | 5.99 | 2.00 | 0.69 | 1.12 | 1.61 | |
| ROE | -40.7% | 27.5% | 32.2% | 2.3% | 83.4% | |
| ROA | -5.8% | 9.2% | 19.0% | 1.1% | 31.9% | |
| Interest coverage | 1.62 | 12.15 | 30.05 | 33.96 | - |
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 | 30-06-2025 | 30-06-2024 | 30-06-2023 | 30-06-2022 |
|---|---|---|---|---|
| Tangible fixed assets | €207,702 | €140,213 | €3,415 | - |
| Depreciation and write-downs of the year | €22,215 | €13,710 | €12,668 | €12,037 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Insights on PhysioNext
The operating result for 2025 is a loss of €10,994, after a profit of €26,449 in 2024. It is the lowest result since 2021.
Debt's share of the balance-sheet total rises from 66.6% to 85.7%. Equity is lower and debt is higher.