PHYSIOCONSTRUCT: 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.
PHYSIOCONSTRUCT
Largest movements
- Receivables within one year -€17,945
down €17,945 (-42.4%), from €42,302 to €24,357
of which Trade receivables: -€18,201
- Tangible fixed assets -€5,850
no longer reported in 2025 (was €5,850)
- Stocks and contracts -€650
down €650 (-46.4%), from €1,400 to €750
- Trade debts -€12,586
down €12,586 (-27.0%), from €46,564 to €33,979
- Current portion of long-term debt -€6,000
no longer reported in 2025 (was €6,000)
- Short-term financial debts -€5,687
down €5,687 (-73.7%), from €7,720 to €2,033
- Tax, wage and social debts -€4,991
down €4,991 (-89.2%), from €5,598 to €607
- Other debts +€2,586
up €2,586 (+2635.8%), from €98 to €2,684
- Other operating charges +€17,515
up €17,515 (+8257.2%), from €212 to €17,727
- Gross operating margin +€14,883
up €14,883 (+241.4%), from €6,167 to €21,050
- Depreciation -€7,800
no longer reported in 2025 (was €7,800)
- Taxes -€607
no longer reported in 2025 (was €607)
- Financial charges +€332
up €332 (+43.8%), from €758 to €1,090
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €49,552 | €25,107 | -€24,445 | -49.3% |
| Fixed assets | 21/28 | €5,850 | - | -€5,850 | |
| Tangible fixed assets | 22/27 | €5,850 | - | -€5,850 | |
| Furniture and vehicles | 24 | €5,850 | - | -€5,850 | |
| Current assets | 29/58 | €43,702 | €25,107 | -€18,595 | -42.5% |
| Stocks and contracts in progress | 3 | €1,400 | €750 | -€650 | -46.4% |
| Stocks | 30/36 | €1,400 | €750 | -€650 | -46.4% |
| Amounts receivable within one year | 40/41 | €42,302 | €24,357 | -€17,945 | -42.4% |
| Trade receivables | 40 | €42,302 | €24,101 | -€18,201 | -43.0% |
| Other amounts receivable | 41 | - | €256 | +€256 | |
| Total equity and liabilities | 10/49 | €49,552 | €25,107 | -€24,445 | -49.3% |
| Equity | 10/15 | -€16,428 | -€14,196 | +€2,233 | +13.6% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Capital | 10 | €10,000 | €10,000 | = | 0.0% |
| Issued capital | 100 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €527 | €527 | = | 0.0% |
| Non-distributable reserves | 130/1 | €527 | €527 | = | 0.0% |
| Legal reserve | 130 | €527 | €527 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,955 | -€24,722 | +€2,233 | +8.3% |
| Amounts payable | 17/49 | €65,980 | €39,303 | -€26,677 | -40.4% |
| Amounts payable within one year | 42/48 | €65,980 | €39,303 | -€26,677 | -40.4% |
| Current portion of amounts payable after more than one year | 42 | €6,000 | - | -€6,000 | |
| Financial debts | 43 | €7,720 | €2,033 | -€5,687 | -73.7% |
| Credit institutions | 430/8 | €7,720 | €2,033 | -€5,687 | -73.7% |
| Trade debts | 44 | €46,564 | €33,979 | -€12,586 | -27.0% |
| Suppliers | 440/4 | €46,564 | €33,979 | -€12,586 | -27.0% |
| Taxes, remuneration and social security | 45 | €5,598 | €607 | -€4,991 | -89.2% |
| Taxes | 450/3 | €5,598 | €607 | -€4,991 | -89.2% |
| Other amounts payable | 47/48 | €98 | €2,684 | +€2,586 | +2635.8% |
| Non-recurring operating income | 76A | - | €19,150 | +€19,150 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,800 | - | -€7,800 | |
| Other operating charges | 640/8 | €212 | €17,727 | +€17,515 | +8257.2% |
| Gross operating margin | 9900 | €6,167 | €21,050 | +€14,883 | +241.4% |
| Operating profit (loss) | 9901 | -€1,846 | €3,323 | +€5,168 | |
| Financial income | 75/76B | €121 | - | -€121 | |
| Recurring financial income | 75 | €121 | - | -€121 | |
| Financial charges | 65/66B | €758 | €1,090 | +€332 | +43.8% |
| Recurring financial charges | 65 | €758 | €1,090 | +€332 | +43.8% |
| Profit (loss) for the period before taxes | 9903 | -€2,482 | €2,233 | +€4,715 | |
| Income taxes | 67/77 | €607 | - | -€607 | |
| Profit (loss) for the period | 9904 | -€3,089 | €2,233 | +€5,322 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,089 | €2,233 | +€5,322 |
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 3 October 2026 via checked.be.