PHYSAM: 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.
PHYSAM
Largest movements
- Receivables within one year -€16,528
down €16,528 (-63.3%), from €26,126 to €9,598
of which Trade receivables: -€21,758
- Cash -€2,128
down €2,128 (-3.5%), from €60,844 to €58,716
mainly Net result for the year (-€11,098) and Tax, wage and social debts (-€7,163)
- Profit (loss) carried forward -€10,874
down €10,874 (-20.9%), from €52,131 to €41,257
- Tax, wage and social debts -€7,163
down €7,163 (-90.0%), from €7,963 to €800
of which Taxes: -€4,853
- Accrued charges and deferred income -€1,436
down €1,436 (-41.3%), from €3,476 to €2,040
- Gross operating margin -€33,264
down €33,264, from €26,279 to -€6,985
- Taxes -€4,664
down €4,664 (-96.0%), from €4,859 to €195
- Financial income +€374
up €374 (+1425.6%), from €26 to €400
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 | €88,822 | €69,602 | -€19,220 | -21.6% |
| Fixed assets | 21/28 | €54 | €54 | = | 0.0% |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €54 | €54 | = | 0.0% |
| Current assets | 29/58 | €88,767 | €69,547 | -€19,220 | -21.7% |
| Amounts receivable within one year | 40/41 | €26,126 | €9,598 | -€16,528 | -63.3% |
| Trade receivables | 40 | €22,985 | €1,227 | -€21,758 | -94.7% |
| Other amounts receivable | 41 | €3,141 | €8,372 | +€5,231 | +166.6% |
| Cash at bank and in hand | 54/58 | €60,844 | €58,716 | -€2,128 | -3.5% |
| Deferred charges and accrued income | 490/1 | €1,798 | €1,233 | -€565 | -31.4% |
| Total equity and liabilities | 10/49 | €88,822 | €69,602 | -€19,220 | -21.6% |
| Equity | 10/15 | €75,555 | €64,457 | -€11,098 | -14.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €17,224 | €17,000 | -€224 | -1.3% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €17,224 | €17,000 | -€224 | -1.3% |
| Profit (loss) carried forward | 14 | €52,131 | €41,257 | -€10,874 | -20.9% |
| Amounts payable | 17/49 | €13,267 | €5,144 | -€8,122 | -61.2% |
| Amounts payable within one year | 42/48 | €9,791 | €3,105 | -€6,686 | -68.3% |
| Trade debts | 44 | €1,828 | €2,305 | +€477 | +26.1% |
| Suppliers | 440/4 | €1,828 | €2,305 | +€477 | +26.1% |
| Taxes, remuneration and social security | 45 | €7,963 | €800 | -€7,163 | -90.0% |
| Taxes | 450/3 | €4,853 | €0 | -€4,853 | -100.0% |
| Remuneration and social security | 454/9 | €3,110 | €800 | -€2,310 | -74.3% |
| Accrued charges and deferred income | 492/3 | €3,476 | €2,040 | -€1,436 | -41.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73 | €0 | -€73 | -100.0% |
| Other operating charges | 640/8 | €727 | €610 | -€117 | -16.1% |
| Gross operating margin | 9900 | €26,279 | -€6,985 | -€33,264 | |
| Operating profit (loss) | 9901 | €25,479 | -€7,595 | -€33,074 | |
| Financial income | 75/76B | €26 | €400 | +€374 | +1425.6% |
| Recurring financial income | 75 | €26 | €400 | +€374 | +1425.6% |
| Financial charges | 65/66B | €3,747 | €3,708 | -€39 | -1.0% |
| Recurring financial charges | 65 | €3,747 | €3,708 | -€39 | -1.0% |
| Profit (loss) for the period before taxes | 9903 | €21,759 | -€10,902 | -€32,661 | |
| Income taxes | 67/77 | €4,859 | €195 | -€4,664 | -96.0% |
| Profit (loss) for the period | 9904 | €16,899 | -€11,098 | -€27,997 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,899 | -€11,098 | -€27,997 |
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 9 October 2026 via checked.be.