PHYSIOCONSTRUCT
ActiveSummary
The computed 12-month bankruptcy probability of PHYSIOCONSTRUCT is 2.8% (moderate). The 2024 annual accounts show negative equity (€-16k) and a net result of €-3k. Equity is shrinking by ~69.8% per year across the filed fiscal years. Its solvency ranks better than 14% of 15869 sector peers (fiscal year 2024). The company has been active since 2020 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Score 2024
31
/ 100
Weak
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2023
Profitability61▲+20
Solvency0▼-2
Growth32=
Track record100
Bankruptcy probability, 12 months
2.8%
Moderate
0%0.5%1.5%4%10%≥ 25%
No credit on open account
Liquidity short (current ratio 0.66 against 0.68 in 2023; short-term debt: 133.2% of total assets), and equity is negative.
Credit check for your own amount and term
Signals
Five signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Limited track record
This company has not been active as long as an established one and statistically fails somewhat more often.
KBO · incorporation dateAge against the risk zone
raises risk · Annual accounts: weaker financial profile
The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.
NBB · annual accounts 2024Solvency, return and age of the figures
Solvency
-33.2%
Return on assets
-6.2%
Age of the figures
21 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 46
Relative position
BE, all sectors
reference
Sector 46
higher
← fewer bankruptcies
more bankruptcies →
raises risk · Negative equity
The 2024 annual accounts show negative equity and a net loss.
NBB · annual accounts 2024Equity per financial year
2021222324
2020 to 2024 · latest year €-16k
neutral · Filed after the deadline
The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 29-08-2025, 29 days later. For context: 47% of the Belgian market files late and the whole 1-to-90-day band measures 2.0% abnormal legal state against a 1.66% average. We show this as a fact and do not score it.
NBB · 5 filingsDeviation from the deadline
2025
not confirmed
2024
29 d late
2023
30 d late
2022
31 d late
2021
191 d late
2020
61 d late
← before the deadline
after the deadline →
Checked, nothing found (1)
Financials · fiscal year 2024, micro schema
Equity
€-16k▼ 23.2%
2023 · €-13k
2020: €11k
2021: €9k
2022: €-8k
2023: €-13k
2020 → 2024
Total assets
€50k▼ 15.9%
2023 · €59k
2020: €94k
2021: €112k
2022: €89k
2023: €59k
2020 → 2024
Net result
€-3k▲ 41.2%
2023 · €-5k
2020: €527
2021: €-1k
2022: €-17k
2023: €-5k
2020 → 2024
Working capital
€-22k▼ 6.1%
2023 · €-21k
2020: €3k
2021: €2k
2022: €-7k
2023: €-21k
2020 → 2024
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20202021202220232024Trend
Equity€11k-€9k▼ 13.7%€-8k€-13k▼ 65.1%€-16k▼ 23.2%
Operating result€934-€-173€-16k▼ 9,190%€-4k▲ 76.7%€-2k▲ 50.6%
Net result€527-€-1k€-17k▼ 1,094%€-5k▲ 69.4%€-3k▲ 41.2%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result stays negative: a loss of €2k in 2024 against €4k in 2023; the loss shrinks.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €50k
Fixed assets
€6k ▼ 57.1%
Current assets
€44k ▼ 3.5%
Key figures and ratios
EBITDA
€6k▲
2023 · €4k
Cash flow
€5k▲
2023 · €3k
Solvency
-33.2%▼
2023 · -22.6%
Current ratio
0.66▼
2023 · 0.68
Quick ratio
0.64▲
2023 · 0.63
Debt to equity
-4.02▲
2023 · -5.42
ROA
-6.2%▲
2023 · -8.9%
Interest coverage
7.85▲
2023 · 4.05
Debt
€66k▼
2023 · €72k
Debt ≤ 1 year
€66k▼
2023 · €66k
Income taxes
€607▲
2023 · €519
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2024 against 2023 · 46 lines
Balance sheet
Code20232024
Assets
Total assets20/58€59k€50k▼
Fixed assets21/28€14k€6k▼
Tangible fixed assets22/27€14k€6k▼
Furniture and vehicles24€14k€6k▼
Current assets29/58€45k€44k▼
Stocks and contracts in progress3€3k€1k▼
Stocks30/36€3k€1k▼
Amounts receivable within one year40/41€42k€42k▲
Trade receivables40€39k€42k▲
Other amounts receivable41€3k-
Cash at bank and in hand54/58€214-
Equity and liabilities
Total equity and liabilities10/49€59k€50k▼
Equity10/15€-13k€-16k▼
Contributions10/11€10k€10k=
Capital10€10k€10k=
Issued capital100€10k€10k=
Reserves13€527€527=
Non-distributable reserves130/1€527€527=
Legal reserve130€527€527=
Profit (loss) carried forward14€-24k€-27k▼
Amounts payable17/49€72k€66k▼
Amounts payable after more than one year17€6k-
Financial debts170/4€6k-
Amounts payable within one year42/48€66k€66k▼
Current portion of amounts payable after more than one year42€9k€6k▼
Financial debts43€2k€8k▲
Credit institutions430/8€2k€8k▲
Trade debts44€52k€47k▼
Suppliers440/4€52k€47k▼
Taxes, remuneration and social security45€4k€6k▲
Taxes450/3€4k€6k▲
Other amounts payable47/48-€98
Income statement
Code20232024
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€8k€8k=
Other operating charges640/8€595€212▼
Gross operating margin9900€5k€6k▲
Operating profit (loss)9901€-4k€-2k▲
Financial income75/76B-€121
Recurring financial income75-€121
Financial charges65/66B€1k€758▼
Recurring financial charges65€1k€758▼
Profit (loss) for the period before taxes9903€-5k€-2k▲
Income taxes67/77€519€607▲
Profit (loss) for the period9904€-5k€-3k▲
Profit (loss) for the period to be appropriated9905€-5k€-3k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-24k€-27k▼
Profit (loss) brought forward from the previous period14P€-19k€-24k▼
The notes to these accounts (3 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
2025
29-08
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 29 days late
2024
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 30 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 31 days late
07-02
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 191 days late
2022
31-12
Financial
Weakest financial yearnet €-17k
Net result drops to €-17k, the lowest in the series; recovery starts the following year.
2021
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 61 days late
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 1 act read
About the unread acts
We know of 1 Belgian State Gazette act for this company. It has not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
1 act for this company is in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Kaprijke · 1 establishment unit since 2020
Ground area
675 m²
Building footprint
177 m²
Volume, LiDAR
866 m³
Parcel 43007A1427/00D000, Flanders · tallest building 10.6 m, ±1 floor. Linked by address, not a title deed.
2
companies at this address
See who is registered here
1 establishment unit
PHYSIOCONSTRUCT
since 20202.304.300.128
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 43007A1427/00D000 | Flanders | 675 m² | 1 · 177 m² | 10.6 m · 1 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Similar companies · same sector, comparable size
GP CARRELAGE
BE 1020.606.383
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BE 0768.278.602
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EC-CONCEPT
BE 0546.621.427
Oudenaarde · Eq €11,722
JETSTONE VERKOOP
BE 0700.188.362
Kalmthout · Eq €11,940
Q-TILE
BE 0758.845.351
Maldegem · Eq €15,169
Of 169 companies in sector 46835 we hold annual accounts for 114. 41 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded01-07-2020
Fiscal year end31-12
Activities, NACEBEL 2025
46835Wholesale trade
43331Floor and wall tiling
47523Retail trade
47639Retail sale of other sporting goods
Sources
Crossroads Bank for EnterprisesNational Bank · 5 filingsAddress and cadastre registers
Scores and ratios are computed by Checked and are not a credit decision.