ACTIVE

PHYSALGO

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Financial year 2025 · closed on 31/12/2025

Net result

215,5 k €

-3.1% YoY

Gross margin

325 k €

-4.7% YoY

Equity

830,4 k €

-28.3% YoY

What does PHYSALGO do?

PHYSALGO is a Private limited company incorporated in 2008. Its registered office is in Braine-le-Château.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0807.367.523

Incorporation

16/10/2008

Legal form

Private limited company

Registered office

Rue du Millénaire(W-B) 11
1440 Braine-le-Château · WallonieSee on map

Contributed capital

18 600,00 €

Latest accounts

31/12/2025

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

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✦ Verdict · Analyst summary

Financials

Trend over 17 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009
Income statement
Gross margin	325 k €	-4.7%	341,1 k €	+15.4%	295,6 k €	+1.5%	291,2 k €	+15.6%	252 k €	+7.3%	234,9 k €	-49.9%	468,4 k €	-17.9%	570,3 k €	+17.5%	485,2 k €	+8.1%	449 k €	-21.3%	570,3 k €	+677%	73,4 k €	+67.7%	43,8 k €	+97.5%	22,2 k €	-70.8%	75,9 k €	+244%	22,1 k €	+34.4%	16,4 k €
EBITDA	322,2 k €	-5.4%	340,6 k €	+15.4%	295,2 k €	+1.5%	290,9 k €	+15.6%	251,6 k €	+8.4%	232 k €	-50.4%	467,9 k €	-17.9%	569,8 k €	+17.8%	483,6 k €	+7.9%	448,2 k €	-21.3%	569,4 k €	+681%	72,9 k €	-11.8%	82,7 k €	+11.4%	74,2 k €	+95.7%	37,9 k €	+486%	-9,8 k €	+12.0%	-11,2 k €
Operating result	304,3 k €	-4.7%	319,4 k €	+17.1%	272,8 k €	+1.5%	268,7 k €	+17.1%	229,4 k €	+7.1%	214,1 k €	-52.6%	451,7 k €	-18.4%	553,8 k €	+18.2%	468,7 k €	+9.2%	429,2 k €	-22.0%	550,1 k €	+842%	58,4 k €	-18.5%	71,7 k €	+7.2%	66,9 k €	+120%	30,5 k €	+286%	-16,4 k €	+18.6%	-20,1 k €
Net result	215,5 k €	-3.1%	222,3 k €	+18.0%	188,4 k €	+3.2%	182,5 k €	+15.7%	157,8 k €	+4.2%	151,4 k €	-48.6%	294,3 k €	-20.0%	367,8 k €	+33.6%	275,3 k €	+8.9%	252,7 k €	-29.9%	360,6 k €	+816%	39,4 k €	-26.9%	53,8 k €	+17.5%	45,8 k €	+56.0%	29,4 k €	+291%	-15,4 k €	+21.2%	-19,5 k €
Balance sheet
Equity	830,4 k €	-28.3%	1,2 M €	-3.8%	1,2 M €	-6.7%	1,3 M €	-5.2%	1,4 M €	+13.1%	1,2 M €	+10.7%	1,1 M €	+32.9%	817,5 k €	+48.7%	549,6 k €	+100%	274,3 k €	+1171%	21,6 k €	-85.8%	152 k €	+34.9%	112,7 k €	+91.5%	58,8 k €	+760%	6,8 k €	+130%	-22,5 k €	-216%	-7,1 k €
Total assets	928,3 k €	-20.6%	1,2 M €	-5.2%	1,2 M €	-14.4%	1,4 M €	+0.6%	1,4 M €	+9.4%	1,3 M €	+16.0%	1,1 M €	+21.0%	932,1 k €	+44.1%	647 k €	+33.8%	483,5 k €	-20.9%	611,3 k €	+183%	216,2 k €	+20.4%	179,5 k €	+30.5%	137,5 k €	+0.6%	136,7 k €	+75.2%	78 k €	+37.2%	56,9 k €
Cash	555 k €	-15.6%	657,7 k €	+9.7%	599,3 k €	-45.6%	1,1 M €	-0.3%	1,1 M €	+10.3%	1 M €	+25.3%	799,6 k €	+31.1%	610 k €	+33.3%	457,6 k €	+75.2%	261,2 k €	-34.0%	396 k €	+182%	140,2 k €	+59.1%	88,1 k €	+18.7%	74,2 k €	+7.2%	69,2 k €	+98.4%	34,9 k €	+175%	12,7 k €
Debts	97,9 k €	+845%	10,4 k €	-63.8%	28,6 k €	-80.8%	149 k €	+111%	70,7 k €	-33.0%	105,5 k €	+156%	41,3 k €	-64.0%	114,6 k €	+17.7%	97,3 k €	-53.5%	209,1 k €	-64.5%	589,8 k €	+819%	64,2 k €	-4.0%	66,9 k €	+72.8%	38,7 k €	+8.8%	35,6 k €	-19.7%	44,3 k €	+13.6%	39 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 2 ended

Active mandates

NATHALIE BILTIAU

Director

Active

Ended mandates

NATHALIE BILTIAU

Manager · since 16 octobre 2008

Ended

Nathalie Biltiau

Manager

Ended

At this address

Other companies at this address

Company	CBE no.
OSTEOPEDIA● Active	1016.349.073
QaOx● Active	1001.616.258

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	23/06/2026	28/07/2025	28/06/2024	13/08/2023	23/06/2022	17/06/2021
General meeting	06/06/2026	30/06/2025	01/06/2024	03/06/2023	04/06/2022	14/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

17 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	06/06/2026	23/06/2026	French	PDF
Micro model	31/12/2024	30/06/2025	28/07/2025	French	PDF
Micro model	31/12/2023	01/06/2024	28/06/2024	French	PDF
Micro model	31/12/2022	03/06/2023	13/08/2023	French	PDF
Micro model	31/12/2021	04/06/2022	23/06/2022	French	PDF
Micro model	31/12/2020	14/06/2021	17/06/2021	French	PDF
Micro model	31/12/2019	30/06/2020	10/07/2020	French	PDF
Micro model	31/12/2018	20/08/2019	26/08/2019	French	PDF
Micro model	31/12/2017	02/06/2018	14/08/2018	French	PDF
Micro model	31/12/2016	03/06/2017	17/08/2017	French	PDF
Abridged model	31/12/2015	28/06/2016	11/07/2016	French	PDF
Abridged model	31/12/2014	06/06/2015	23/07/2015	French	PDF
Abridged model	31/12/2013	07/06/2014	12/08/2014	French	PDF
Abridged model	31/12/2012	29/06/2013	24/07/2013	French	PDF
Abridged model	31/12/2011	02/06/2012	06/08/2012	French	PDF
Abridged model	31/12/2010	04/06/2011	01/08/2011	French	PDF
Abridged model	31/12/2009	05/06/2010	27/07/2010	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 1 active · 2 ended

Active mandates

NATHALIE BILTIAU

Director

Active

Ended mandates

NATHALIE BILTIAU

Manager · since 16 octobre 2008

Ended

Nathalie Biltiau

Manager

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates15/09/2023
MODIFICATION FORME JURIDIQUE - DEMISSIONS, NOMINATIONS
PDF
Other03/11/2008
RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025215,5 k €↓
2024
Annual accounts 2024222,3 k €↑
2023
Annual accounts 2023188,4 k €↑
2022
Annual accounts 2022182,5 k €↑
2021
Annual accounts 2021157,8 k €↑
2020
Annual accounts 2020151,4 k €↓
2019
Annual accounts 2019294,3 k €↓
2018
Annual accounts 2018367,8 k €↑
2017
Annual accounts 2017275,3 k €↑
2016
Annual accounts 2016252,7 k €↓
2015
Annual accounts 2015360,6 k €↑
2014
Annual accounts 201439,4 k €↓
2013
Annual accounts 201353,8 k €↑
2012
Annual accounts 201245,8 k €↑
2011
Annual accounts 201129,4 k €↑
2010
Annual accounts 2010-15,4 k €↑
2009
Annual accounts 2009-19,5 k €
16/10/2008
IncorporationPrivate limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

PHYSALGO

Overview

What does PHYSALGO do?

Trend over 17 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline