FORWARD PHYSIO: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
FORWARD PHYSIO
Largest movements
- Tangible fixed assets +€62,728
up €62,728 (+6197.5%), from €1,012 to €63,741
of which Plant, machinery and equipment: +€42,854
- Cash -€41,223
down €41,223 (-65.7%), from €62,726 to €21,503
mainly Investment in fixed assets (net) (-€77,947) and Contributions, distributions and other (-€30,000)
- Deferred charges and accrued income -€2,884
down €2,884 (-32.5%), from €8,884 to €6,000
- Financial fixed assets +€2,400
new in 2025: €2,400
- Receivables within one year -€1,572
down €1,572 (-14.0%), from €11,209 to €9,637
- Debts after one year +€26,048
new in 2025: €26,048
- Profit (loss) carried forward -€22,067
down €22,067 (-97.9%), from €22,550 to €484
- Current portion of long-term debt +€6,739
new in 2025: €6,739
- Trade debts +€5,324
up €5,324 (+108.8%), from €4,895 to €10,219
- Other debts +€3,254
up €3,254 (+10.6%), from €30,591 to €33,845
- Gross operating margin -€27,078
down €27,078 (-50.6%), from €53,484 to €26,406
- Depreciation +€11,922
up €11,922 (+1330.3%), from €896 to €12,818
- Taxes -€4,678
down €4,678 (-77.4%), from €6,041 to €1,363
- Other operating charges +€840
up €840 (+47.1%), from €1,783 to €2,623
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €83,831 | €103,281 | +€19,450 | +23.2% |
| Fixed assets | 21/28 | €1,012 | €66,141 | +€65,128 | +6434.7% |
| Tangible fixed assets | 22/27 | €1,012 | €63,741 | +€62,728 | +6197.5% |
| Plant, machinery and equipment | 23 | €146 | €43,000 | +€42,854 | +29348.0% |
| Furniture and vehicles | 24 | €866 | €3,545 | +€2,679 | +309.3% |
| Other tangible fixed assets | 26 | - | €17,195 | +€17,195 | |
| Financial fixed assets | 28 | - | €2,400 | +€2,400 | |
| Current assets | 29/58 | €82,819 | €37,141 | -€45,679 | -55.2% |
| Amounts receivable within one year | 40/41 | €11,209 | €9,637 | -€1,572 | -14.0% |
| Other amounts receivable | 41 | €11,209 | €9,637 | -€1,572 | -14.0% |
| Cash at bank and in hand | 54/58 | €62,726 | €21,503 | -€41,223 | -65.7% |
| Deferred charges and accrued income | 490/1 | €8,884 | €6,000 | -€2,884 | -32.5% |
| Total equity and liabilities | 10/49 | €83,831 | €103,281 | +€19,450 | +23.2% |
| Equity | 10/15 | €47,670 | €25,604 | -€22,067 | -46.3% |
| Contributions | 10/11 | €120 | €120 | = | 0.0% |
| Reserves | 13 | €25,000 | €25,000 | = | 0.0% |
| Distributable reserves | 133 | €25,000 | €25,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,550 | €484 | -€22,067 | -97.9% |
| Amounts payable | 17/49 | €36,161 | €77,678 | +€41,517 | +114.8% |
| Amounts payable after more than one year | 17 | - | €26,048 | +€26,048 | |
| Financial debts | 170/4 | - | €26,048 | +€26,048 | |
| Amounts payable within one year | 42/48 | €36,161 | €51,630 | +€15,469 | +42.8% |
| Current portion of amounts payable after more than one year | 42 | - | €6,739 | +€6,739 | |
| Trade debts | 44 | €4,895 | €10,219 | +€5,324 | +108.8% |
| Suppliers | 440/4 | €4,895 | €10,219 | +€5,324 | +108.8% |
| Taxes, remuneration and social security | 45 | €675 | €827 | +€152 | +22.5% |
| Taxes | 450/3 | €675 | €827 | +€152 | +22.5% |
| Other amounts payable | 47/48 | €30,591 | €33,845 | +€3,254 | +10.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €896 | €12,818 | +€11,922 | +1330.3% |
| Other operating charges | 640/8 | €1,783 | €2,623 | +€840 | +47.1% |
| Gross operating margin | 9900 | €53,484 | €26,406 | -€27,078 | -50.6% |
| Operating profit (loss) | 9901 | €50,804 | €10,964 | -€39,840 | -78.4% |
| Financial charges | 65/66B | €1,703 | €1,668 | -€35 | -2.1% |
| Recurring financial charges | 65 | €1,703 | €1,668 | -€35 | -2.1% |
| Profit (loss) for the period before taxes | 9903 | €49,101 | €9,296 | -€39,805 | -81.1% |
| Income taxes | 67/77 | €6,041 | €1,363 | -€4,678 | -77.4% |
| Profit (loss) for the period | 9904 | €43,060 | €7,933 | -€35,127 | -81.6% |
| Profit (loss) for the period to be appropriated | 9905 | €43,060 | €7,933 | -€35,127 | -81.6% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.