ML PHYSIO: what changed
Two fiscal 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.
ML PHYSIO
Largest movements
- Cash +€73,497
up €73,497 (+105.0%), from €70,028 to €143,525
mainly Net result for the year (+€69,609) and Receivables within one year (+€10,827)
- Receivables within one year -€10,827
down €10,827 (-49.8%), from €21,722 to €10,895
of which Trade receivables: -€11,600
- Deferred charges and accrued income +€9,003
up €9,003 (+517.4%), from €1,740 to €10,743
- Reserves +€69,609
up €69,609 (+84.1%), from €82,761 to €152,371
- Gross operating margin +€13,419
up €13,419 (+17.7%), from €75,846 to €89,265
- Taxes +€2,953
up €2,953 (+19.1%), from €15,474 to €18,427
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 | €95,045 | €165,738 | +€70,693 | +74.4% |
| Fixed assets | 21/28 | €1,556 | €575 | -€981 | -63.0% |
| Tangible fixed assets | 22/27 | €1,556 | €575 | -€981 | -63.0% |
| Plant, machinery and equipment | 23 | €1,556 | €575 | -€981 | -63.0% |
| Current assets | 29/58 | €93,490 | €165,163 | +€71,673 | +76.7% |
| Amounts receivable within one year | 40/41 | €21,722 | €10,895 | -€10,827 | -49.8% |
| Trade receivables | 40 | €17,996 | €6,396 | -€11,600 | -64.5% |
| Other amounts receivable | 41 | €3,726 | €4,499 | +€773 | +20.7% |
| Cash at bank and in hand | 54/58 | €70,028 | €143,525 | +€73,497 | +105.0% |
| Deferred charges and accrued income | 490/1 | €1,740 | €10,743 | +€9,003 | +517.4% |
| Total equity and liabilities | 10/49 | €95,045 | €165,738 | +€70,693 | +74.4% |
| Equity | 10/15 | €85,761 | €155,371 | +€69,609 | +81.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €82,761 | €152,371 | +€69,609 | +84.1% |
| Distributable reserves | 133 | €82,761 | €152,371 | +€69,609 | +84.1% |
| Amounts payable | 17/49 | €9,284 | €10,367 | +€1,083 | +11.7% |
| Amounts payable within one year | 42/48 | €9,284 | €10,367 | +€1,083 | +11.7% |
| Trade debts | 44 | €520 | €387 | -€132 | -25.5% |
| Suppliers | 440/4 | €520 | €387 | -€132 | -25.5% |
| Other amounts payable | 47/48 | €8,764 | €9,980 | +€1,216 | +13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €981 | €981 | = | 0.0% |
| Other operating charges | 640/8 | - | €194 | +€194 | |
| Gross operating margin | 9900 | €75,846 | €89,265 | +€13,419 | +17.7% |
| Operating profit (loss) | 9901 | €74,865 | €88,090 | +€13,226 | +17.7% |
| Financial charges | 65/66B | €89 | €54 | -€35 | -39.1% |
| Recurring financial charges | 65 | €89 | €54 | -€35 | -39.1% |
| Profit (loss) for the period before taxes | 9903 | €74,776 | €88,036 | +€13,260 | +17.7% |
| Income taxes | 67/77 | €15,474 | €18,427 | +€2,953 | +19.1% |
| Profit (loss) for the period | 9904 | €59,302 | €69,609 | +€10,307 | +17.4% |
| Profit (loss) for the period to be appropriated | 9905 | €59,302 | €69,609 | +€10,307 | +17.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.