PHYSIO VH: 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 VH
Largest movements
- Cash -€19,527
down €19,527 (-20.1%), from €97,071 to €77,544
mainly Contributions, distributions and other (-€53,393) and Other debts (-€24,413)
- Tangible fixed assets +€4,159
up €4,159 (+671.4%), from €619 to €4,779
of which Plant, machinery and equipment: +€4,305
- Other debts -€24,413
down €24,413 (-44.4%), from €55,017 to €30,605
- Reserves +€11,809
up €11,809 (+20.2%), from €58,602 to €70,411
- Tax, wage and social debts -€2,086
down €2,086 (-21.2%), from €9,834 to €7,749
- Gross operating margin +€20,990
up €20,990 (+33.2%), from €63,168 to €84,158
- Taxes +€4,157
up €4,157 (+32.8%), from €12,667 to €16,823
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 | €131,043 | €116,598 | -€14,446 | -11.0% |
| Fixed assets | 21/28 | €619 | €4,779 | +€4,159 | +671.4% |
| Tangible fixed assets | 22/27 | €619 | €4,779 | +€4,159 | +671.4% |
| Plant, machinery and equipment | 23 | €252 | €4,557 | +€4,305 | +1709.9% |
| Furniture and vehicles | 24 | €368 | €221 | -€146 | -39.8% |
| Current assets | 29/58 | €130,424 | €111,819 | -€18,605 | -14.3% |
| Cash at bank and in hand | 54/58 | €97,071 | €77,544 | -€19,527 | -20.1% |
| Deferred charges and accrued income | 490/1 | €33,353 | €34,275 | +€922 | +2.8% |
| Total equity and liabilities | 10/49 | €131,043 | €116,598 | -€14,446 | -11.0% |
| Equity | 10/15 | €61,602 | €73,411 | +€11,809 | +19.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €58,602 | €70,411 | +€11,809 | +20.2% |
| Distributable reserves | 133 | €58,602 | €70,411 | +€11,809 | +20.2% |
| Amounts payable | 17/49 | €69,442 | €43,187 | -€26,255 | -37.8% |
| Amounts payable within one year | 42/48 | €69,442 | €43,187 | -€26,255 | -37.8% |
| Current portion of amounts payable after more than one year | 42 | €3,215 | €3,820 | +€605 | +18.8% |
| Trade debts | 44 | €1,375 | €1,014 | -€361 | -26.3% |
| Suppliers | 440/4 | €1,375 | €1,014 | -€361 | -26.3% |
| Taxes, remuneration and social security | 45 | €9,834 | €7,749 | -€2,086 | -21.2% |
| Taxes | 450/3 | €9,834 | €7,749 | -€2,086 | -21.2% |
| Other amounts payable | 47/48 | €55,017 | €30,605 | -€24,413 | -44.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €753 | €331 | -€423 | -56.1% |
| Other operating charges | 640/8 | €494 | €216 | -€278 | -56.3% |
| Gross operating margin | 9900 | €63,168 | €84,158 | +€20,990 | +33.2% |
| Operating profit (loss) | 9901 | €61,921 | €83,611 | +€21,690 | +35.0% |
| Financial income | 75/76B | €788 | - | -€788 | |
| Recurring financial income | 75 | €633 | - | -€633 | |
| Non-recurring financial income | 76B | €155 | - | -€155 | |
| Financial charges | 65/66B | €1,966 | €1,586 | -€380 | -19.3% |
| Recurring financial charges | 65 | €1,966 | €1,586 | -€380 | -19.3% |
| Profit (loss) for the period before taxes | 9903 | €60,742 | €82,025 | +€21,283 | +35.0% |
| Income taxes | 67/77 | €12,667 | €16,823 | +€4,157 | +32.8% |
| Profit (loss) for the period | 9904 | €48,076 | €65,202 | +€17,126 | +35.6% |
| Profit (loss) for the period to be appropriated | 9905 | €48,076 | €65,202 | +€17,126 | +35.6% |
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 28 September 2026 via checked.be.