PP-INVEST: what changed
What changed
PP-INVEST
NACE 86.951, Physiotherapy
filed annual accounts (NBB)
Net result for the year
€246,284
2024 · €589,433-€343,149
Equity
€3.9m
2024 · €3.6m+€246,284
Cash
€49,150
2024 · €190,423-€141,273
Balance sheet total
€5.2m
2024 · €4.5m+€682,191
Largest movements
Assets
- Tangible fixed assets +€964,584
up €964,584 (+159%), from €604,856 to €1.6m
of which Land and buildings: +€978,193
- Current investments -€730,341
down €730,341 (-99.9%), from €731,189 to €848
- Receivables within one year +€247,296
up €247,296 (+23.0%), from €1.1m to €1.3m
of which Other amounts receivable: +€154,908
- Receivables after one year +€199,803
up €199,803 (+135%), from €148,390 to €348,193
- Financial fixed assets +€142,122
up €142,122 (+10.8%), from €1.3m to €1.5m
Equity and liabilities
- Profit (loss) carried forward +€255,454
up €255,454 (+8.1%), from €3.1m to €3.4m
- Short-term financial debts +€150,000
new in 2025: €150,000
- Other debts +€120,978
up €120,978 (+167%), from €72,503 to €193,481
- Debts after one year +€108,638
up €108,638 (+58.5%), from €185,783 to €294,421
Income statement
- Gross operating margin -€419,985
down €419,985 (-62.9%), from €667,955 to €247,970
- Other operating charges +€135,417
up €135,417 (+1,044%), from €12,973 to €148,390
- Taxes -€127,956
down €127,956 (-64.4%), from €198,723 to €70,767
- Write-downs -€110,047
down €110,047, from €21,076 to -€88,971
- Depreciation +€46,146
up €46,146 (+118%), from €39,270 to €85,416
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€589,433
Gross operating margin
-€419,985
Depreciation
-€46,146
Write-downs
+€110,047
Other operating charges
-€135,417
Financial income
+€39,221
Financial charges
-€892
Taxes
+€127,956
Deferred taxes and other
-€17,932
Result 2025
€246,284
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€61,870
Investment
-€461,782
Financing
+€258,638
Cash 2024
€190,423
From operations (derived)
+€61,870
Net result for the year
+€246,284
Depreciation
+€85,416
Receivables after one year
-€199,803
Receivables within one year
-€247,296
Provisions
-€3,057
Trade debts
+€44,800
Tax, wage and social debts
+€14,798
Advances received
-€250
Other debts
+€120,978
Investment (derived)
-€461,782
Investment in fixed assets (net)
-€1.2m
Current investments
+€730,341
Financing
+€258,638
Debts after one year
+€108,638
Short-term financial debts
+€150,000
Cash 2025
€49,150
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,471,001 | €5,153,193 | +€682,191 | +15.3% |
| Fixed assets | 21/28 | €1,925,009 | €3,031,715 | +€1.1m | +57.5% |
| Tangible fixed assets | 22/27 | €604,856 | €1,569,440 | +€964,584 | +159% |
| Land and buildings | 22 | €555,033 | €1,533,226 | +€978,193 | +176% |
| Furniture and vehicles | 24 | €49,823 | €36,214 | -€13,609 | -27.3% |
| Financial fixed assets | 28 | €1,320,153 | €1,462,275 | +€142,122 | +10.8% |
| Current assets | 29/58 | €2,545,992 | €2,121,477 | -€424,515 | -16.7% |
| Amounts receivable after more than one year | 29 | €148,390 | €348,193 | +€199,803 | +135% |
| Other amounts receivable | 291 | €148,390 | €348,193 | +€199,803 | +135% |
| Stocks and contracts in progress | 3 | €400,247 | €400,247 | = | 0.0% |
| Stocks | 30/36 | €400,247 | €400,247 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,075,743 | €1,323,039 | +€247,296 | +23.0% |
| Trade receivables | 40 | €759,167 | €851,555 | +€92,388 | +12.2% |
| Other amounts receivable | 41 | €316,576 | €471,485 | +€154,908 | +48.9% |
| Current investments | 50/53 | €731,189 | €848 | -€730,341 | -99.9% |
| Cash at bank and in hand | 54/58 | €190,423 | €49,150 | -€141,273 | -74.2% |
| Total equity and liabilities | 10/49 | €4,471,001 | €5,153,193 | +€682,191 | +15.3% |
| Equity | 10/15 | €3,613,960 | €3,860,244 | +€246,284 | +6.8% |
| Contributions | 10/11 | €81,250 | €81,250 | = | 0.0% |
| Capital | 10 | €81,250 | €81,250 | = | 0.0% |
| Issued capital | 100 | €81,250 | €81,250 | = | 0.0% |
| Reserves | 13 | €388,654 | €379,484 | -€9,170 | -2.4% |
| Non-distributable reserves | 130/1 | €8,125 | €8,125 | = | 0.0% |
| Legal reserve | 130 | €8,125 | €8,125 | = | 0.0% |
| Tax-exempt reserves | 132 | €261,260 | €252,089 | -€9,170 | -3.5% |
| Distributable reserves | 133 | €119,270 | €119,270 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,144,056 | €3,399,510 | +€255,454 | +8.1% |
| Provisions and deferred taxes | 16 | €87,087 | €84,030 | -€3,057 | -3.5% |
| Deferred taxes | 168 | €87,087 | €84,030 | -€3,057 | -3.5% |
| Amounts payable | 17/49 | €769,954 | €1,208,919 | +€438,965 | +57.0% |
| Amounts payable after more than one year | 17 | €185,783 | €294,421 | +€108,638 | +58.5% |
| Financial debts | 170/4 | €185,783 | €294,421 | +€108,638 | +58.5% |
| Amounts payable within one year | 42/48 | €584,171 | €914,497 | +€330,326 | +56.5% |
| Financial debts | 43 | - | €150,000 | +€150,000 | |
| Credit institutions | 430/8 | - | €150,000 | +€150,000 | |
| Trade debts | 44 | €21,495 | €66,295 | +€44,800 | +208% |
| Suppliers | 440/4 | €21,495 | €66,295 | +€44,800 | +208% |
| Advances received on contracts in progress | 46 | €400,497 | €400,247 | -€250 | -0.1% |
| Taxes, remuneration and social security | 45 | €89,676 | €104,474 | +€14,798 | +16.5% |
| Taxes | 450/3 | €89,676 | €104,474 | +€14,798 | +16.5% |
| Other amounts payable | 47/48 | €72,503 | €193,481 | +€120,978 | +167% |
| Non-recurring operating income | 76A | €384,707 | €60,600 | -€324,107 | -84.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,270 | €85,416 | +€46,146 | +118% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €21,076 | -€88,971 | -€110,047 | |
| Other operating charges | 640/8 | €12,973 | €148,390 | +€135,417 | +1,044% |
| Gross operating margin | 9900 | €667,955 | €247,970 | -€419,985 | -62.9% |
| Operating profit (loss) | 9901 | €594,636 | €103,135 | -€491,501 | -82.7% |
| Financial income | 75/76B | €174,545 | €213,766 | +€39,221 | +22.5% |
| Recurring financial income | 75 | €174,545 | €213,766 | +€39,221 | +22.5% |
| Financial charges | 65/66B | €2,015 | €2,907 | +€892 | +44.3% |
| Recurring financial charges | 65 | €2,015 | €2,907 | +€892 | +44.3% |
| Profit (loss) for the period before taxes | 9903 | €767,166 | €313,994 | -€453,172 | -59.1% |
| Transfer from deferred taxes | 780 | €20,989 | €3,057 | -€17,932 | -85.4% |
| Income taxes | 67/77 | €198,723 | €70,767 | -€127,956 | -64.4% |
| Profit (loss) for the period | 9904 | €589,433 | €246,284 | -€343,149 | -58.2% |
| Transfer from tax-exempt reserves | 789 | €62,968 | €9,170 | -€53,797 | -85.4% |
| Profit (loss) for the period to be appropriated | 9905 | €652,400 | €255,454 | -€396,946 | -60.8% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.