Physio MD: 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.
Physio MD
Largest movements
- Deferred charges and accrued income +€79,859
up €79,859 (+290.3%), from €27,505 to €107,365
- Current investments +€65,409
up €65,409 (+51.1%), from €128,023 to €193,432
- Cash +€60,350
up €60,350 (+295.3%), from €20,438 to €80,788
mainly Net result for the year (+€209,120) and Other debts (+€166,159)
- Tangible fixed assets -€13,100
down €13,100 (-25.9%), from €50,647 to €37,548
of which Furniture and vehicles: -€12,487
- Other debts +€166,159
up €166,159 (+169.0%), from €98,315 to €264,474
- Tax, wage and social debts +€56,321
up €56,321 (+220.6%), from €25,530 to €81,851
of which Taxes: +€58,821
- Profit (loss) carried forward -€48,966
no longer reported in 2025 (was €48,966)
- Reserves +€39,120
up €39,120 (+621.1%), from €6,298 to €45,418
- Debts after one year -€15,275
down €15,275 (-66.1%), from €23,098 to €7,823
- Gross operating margin +€95,089
up €95,089 (+47.1%), from €201,704 to €296,793
- Taxes +€29,731
up €29,731 (+70.6%), from €42,090 to €71,821
- Financial income +€3,193
up €3,193 (+199.8%), from €1,598 to €4,791
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 | €226,811 | €419,133 | +€192,321 | +84.8% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €50,647 | €37,548 | -€13,100 | -25.9% |
| Tangible fixed assets | 22/27 | €50,647 | €37,548 | -€13,100 | -25.9% |
| Plant, machinery and equipment | 23 | €656 | €43 | -€613 | -93.5% |
| Furniture and vehicles | 24 | €49,992 | €37,505 | -€12,487 | -25.0% |
| Current assets | 29/58 | €176,164 | €381,585 | +€205,421 | +116.6% |
| Amounts receivable within one year | 40/41 | €197 | - | -€197 | |
| Trade receivables | 40 | €197 | - | -€197 | |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €128,023 | €193,432 | +€65,409 | +51.1% |
| Cash at bank and in hand | 54/58 | €20,438 | €80,788 | +€60,350 | +295.3% |
| Deferred charges and accrued income | 490/1 | €27,505 | €107,365 | +€79,859 | +290.3% |
| Total equity and liabilities | 10/49 | €226,811 | €419,133 | +€192,321 | +84.8% |
| Equity | 10/15 | €58,764 | €48,918 | -€9,846 | -16.8% |
| Contributions | 10/11 | €3,500 | €3,500 | = | 0.0% |
| Reserves | 13 | €6,298 | €45,418 | +€39,120 | +621.1% |
| Distributable reserves | 133 | €6,298 | €45,418 | +€39,120 | +621.1% |
| Profit (loss) carried forward | 14 | €48,966 | - | -€48,966 | |
| Amounts payable | 17/49 | €168,047 | €370,215 | +€202,167 | +120.3% |
| Amounts payable after more than one year | 17 | €23,098 | €7,823 | -€15,275 | -66.1% |
| Financial debts | 170/4 | €23,098 | €7,823 | -€15,275 | -66.1% |
| Amounts payable within one year | 42/48 | €144,774 | €362,391 | +€217,617 | +150.3% |
| Current portion of amounts payable after more than one year | 42 | €17,694 | €15,275 | -€2,419 | -13.7% |
| Trade debts | 44 | €3,236 | €791 | -€2,444 | -75.5% |
| Suppliers | 440/4 | €3,236 | €791 | -€2,444 | -75.5% |
| Taxes, remuneration and social security | 45 | €25,530 | €81,851 | +€56,321 | +220.6% |
| Taxes | 450/3 | €23,030 | €81,851 | +€58,821 | +255.4% |
| Remuneration and social security | 454/9 | €2,499 | - | -€2,499 | |
| Other amounts payable | 47/48 | €98,315 | €264,474 | +€166,159 | +169.0% |
| Accrued charges and deferred income | 492/3 | €175 | - | -€175 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,494 | €18,545 | +€2,051 | +12.4% |
| Other operating charges | 640/8 | €713 | €765 | +€52 | +7.3% |
| Gross operating margin | 9900 | €201,704 | €296,793 | +€95,089 | +47.1% |
| Operating profit (loss) | 9901 | €184,498 | €277,484 | +€92,986 | +50.4% |
| Financial income | 75/76B | €1,598 | €4,791 | +€3,193 | +199.8% |
| Recurring financial income | 75 | €1,598 | €4,791 | +€3,193 | +199.8% |
| Financial charges | 65/66B | €2,004 | €1,335 | -€669 | -33.4% |
| Recurring financial charges | 65 | €2,004 | €1,335 | -€669 | -33.4% |
| Profit (loss) for the period before taxes | 9903 | €184,092 | €280,940 | +€96,848 | +52.6% |
| Income taxes | 67/77 | €42,090 | €71,821 | +€29,731 | +70.6% |
| Profit (loss) for the period | 9904 | €142,002 | €209,120 | +€67,117 | +47.3% |
| Profit (loss) for the period to be appropriated | 9905 | €142,002 | €209,120 | +€67,117 | +47.3% |
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 6 October 2026 via checked.be.