Reliable physical reasoning from video requires understanding how objects move, interact, and respond to interventions. Existing vision-language models (VLMs) often struggle to interpret these dynamics and reason reliably about future and counterfactual outcomes. We introduce PhysMind, a training-free agentic framework that constructs one reusable, question-agnostic executable world per video. PhysMind recovers a temporally consistent dynamic scene through object segmentation, mesh reconstruction, and 6D pose tracking, then fits analytic continuous-time dynamics and latent physical parameters without unrolling a time-stepped simulator. Given a question, it inspects, continues, or edits the world and answers from the resulting trajectories and interactions. Relative to direct chain-of-thought (CoT) reasoning with the same VLM, PhysMind improves accuracy by 38.23 points on CLEVRER and 8.08 points on Physion++. On counterfactual questions, it exceeds the strongest evaluated VLM baseline, GPT-5.5, by 19.25 points.