PhysIOL Group: 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.
What changed
PhysIOL Group
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€3.9m
2024 · €72.3m-€68.4m
Equity
€212.9m
2024 · €209.0m+€3.9m
Cash
€65,028
2024 · €17,412+€47,616
Balance sheet total
€215.6m
2024 · €211.0m+€4.6m
Largest movements
Assets
- Financial fixed assets +€5.4m
up €5.4m (+2.6%), from €207.1m to €212.5m
Equity and liabilities
- Profit (loss) carried forward +€3.7m
up €3.7m (+4.6%), from €80.4m to €84.1m
Income statement
- Financial income -€75.5m
down €75.5m (-94.4%), from €79.9m to €4.4m
- Financial charges -€7.4m
down €7.4m (-96.7%), from €7.7m to €254,956
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.
Result 2024
€72.3m
Other operating charges
-€4,649
Other operating items
-€60,052
Financial income
-€75.5m
Financial charges
+€7.4m
Taxes
-€254,899
Result 2025
€3.9m
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
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.
From operations
+€3.5m
Investment
-€5.4m
Financing
+€1.9m
Cash 2024
€17,412
From operations (derived)
+€3.5m
Net result for the year
+€3.9m
Receivables within one year
+€801,153
Smaller working-capital items
+€7,894
Tax, wage and social debts
+€254,899
Other debts
-€1.5m
Investment (derived)
-€5.4m
Investment in fixed assets (net)
-€5.4m
Financing
+€1.9m
Debts after one year
+€1.9m
Contributions, distributions and other
-€1
Cash 2025
€65,028
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €210,994,725 | €215,636,929 | +€4.6m | +2.2% |
| Fixed assets | 21/28 | €207,139,487 | €212,541,762 | +€5.4m | +2.6% |
| Tangible fixed assets | 22/27 | €24,652 | €24,652 | = | 0.0% |
| Other tangible fixed assets | 26 | €24,652 | €24,652 | = | 0.0% |
| Financial fixed assets | 28 | €207,114,835 | €212,517,110 | +€5.4m | +2.6% |
| Affiliated companies | 280/1 | €207,114,835 | €212,517,110 | +€5.4m | +2.6% |
| Participating interests | 280 | €134,659,005 | €139,659,005 | +€5.0m | +3.7% |
| Amounts receivable | 281 | €72,455,830 | €72,858,105 | +€402,275 | +0.6% |
| Current assets | 29/58 | €3,855,238 | €3,095,167 | -€760,071 | -19.7% |
| Amounts receivable within one year | 40/41 | €3,831,292 | €3,030,139 | -€801,153 | -20.9% |
| Trade receivables | 40 | €1,767,591 | €1,922,837 | +€155,246 | +8.8% |
| Other amounts receivable | 41 | €2,063,701 | €1,107,302 | -€956,399 | -46.3% |
| Cash at bank and in hand | 54/58 | €17,412 | €65,028 | +€47,616 | +273% |
| Deferred charges and accrued income | 490/1 | €6,534 | - | -€6,534 | |
| Total equity and liabilities | 10/49 | €210,994,725 | €215,636,929 | +€4.6m | +2.2% |
| Equity | 10/15 | €209,006,271 | €212,935,123 | +€3.9m | +1.9% |
| Contributions | 10/11 | €80,003,230 | €80,003,230 | = | 0.0% |
| Capital | 10 | €80,000,000 | €80,000,000 | = | 0.0% |
| Issued capital | 100 | €80,000,000 | €80,000,000 | = | 0.0% |
| Contributions outside capital | 11 | €3,230 | €3,230 | = | 0.0% |
| Share premium | 1100/10 | €3,230 | €3,230 | = | 0.0% |
| Reserves | 13 | €48,632,535 | €48,828,977 | +€196,442 | +0.4% |
| Non-distributable reserves | 130/1 | €48,632,535 | €48,828,977 | +€196,442 | +0.4% |
| Legal reserve | 130 | €6,276,025 | €6,472,467 | +€196,442 | +3.1% |
| Other | 1319 | €42,356,510 | €42,356,510 | = | 0.0% |
| Profit (loss) carried forward | 14 | €80,370,506 | €84,102,916 | +€3.7m | +4.6% |
| Amounts payable | 17/49 | €1,988,454 | €2,701,806 | +€713,352 | +35.9% |
| Amounts payable after more than one year | 17 | - | €1,949,249 | +€1.9m | |
| Other amounts payable | 178/9 | - | €1,949,249 | +€1.9m | |
| Amounts payable within one year | 42/48 | €1,988,454 | €752,557 | -€1.2m | -62.2% |
| Trade debts | 44 | €466,819 | €468,179 | +€1,360 | +0.3% |
| Suppliers | 440/4 | €466,819 | €468,179 | +€1,360 | +0.3% |
| Taxes, remuneration and social security | 45 | - | €254,899 | +€254,899 | |
| Taxes | 450/3 | - | €254,899 | +€254,899 | |
| Other amounts payable | 47/48 | €1,521,635 | €29,479 | -€1.5m | -98.1% |
| Operating income | 70/76A | €481,622 | €371,281 | -€110,341 | -22.9% |
| Other operating income | 74 | €481,622 | €371,281 | -€110,341 | -22.9% |
| Operating charges | 60/66A | €418,641 | €373,001 | -€45,640 | -10.9% |
| Services and other goods | 61 | €416,733 | €366,444 | -€50,289 | -12.1% |
| Other operating charges | 640/8 | €1,908 | €6,557 | +€4,649 | +244% |
| Operating profit (loss) | 9901 | €62,981 | -€1,720 | -€64,701 | |
| Financial income | 75/76B | €79,921,391 | €4,440,428 | -€75.5m | -94.4% |
| Recurring financial income | 75 | €79,921,391 | €4,440,428 | -€75.5m | -94.4% |
| Income from financial fixed assets | 750 | €79,882,692 | €4,440,428 | -€75.4m | -94.4% |
| Other financial income | 752/9 | €38,699 | - | -€38,699 | |
| Financial charges | 65/66B | €7,651,840 | €254,956 | -€7.4m | -96.7% |
| Recurring financial charges | 65 | €7,651,840 | €254,956 | -€7.4m | -96.7% |
| Debt charges | 650 | €7,650,721 | €107,093 | -€7.5m | -98.6% |
| Other financial charges | 652/9 | €1,119 | €147,863 | +€146,744 | +13,114% |
| Profit (loss) for the period before taxes | 9903 | €72,332,532 | €4,183,752 | -€68.1m | -94.2% |
| Income taxes | 67/77 | - | €254,899 | +€254,899 | |
| Taxes | 670/3 | - | €254,899 | +€254,899 | |
| Profit (loss) for the period | 9904 | €72,332,532 | €3,928,853 | -€68.4m | -94.6% |
| Profit (loss) for the period to be appropriated | 9905 | €72,332,532 | €3,928,853 | -€68.4m | -94.6% |
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 17 October 2026 via checked.be.