PUZL Consulting
ActivePUZL Consulting has been active since 2010 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €321k and a net result of €12k. Equity is growing by ~6.8% per year across the filed fiscal years. Its solvency ranks better than 75% of 31662 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Checked score
Score 2025
88
/ 100
Excellent
The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.
Axes · tick = 2024
Profitability72▲+1
Solvency100=
Growth52=
Track record100
Bankruptcy probability, 12 months
0.1%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €25k at 30 days acceptable
Liquidity ample (current ratio 31.17 against 11.7 in 2024; short-term debt: 3.2% and cash: 26.9% of total assets), and 21.5% of the assets are financed with debt.
Credit advice for your own amount and term
Signals
Seven signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Lower-failure-rate sector
In this sector companies fail less often than the Belgian average.
Gazette · bankruptcies per sector, NACE 70
Relative position
BE, all sectors
reference
Sector 70
lower
← fewer bankruptcies
more bankruptcies →
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
78.5%
Return on assets
2.9%
Age of the figures
15 mo
neutral · Filed after the deadline
The financial year that closed on 30-06-2025 was due by 31-01-2026 and was filed on 05-02-2026, 5 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 · 10 filingsDeviation from the deadline
2025
5 d late
2024
25 d late
2023
8 d late
2022
27 d late
2021
232 d late
2020
26 d late
2019
24 d late
← before the deadline
after the deadline →
neutral · The next deadline is still running
The next financial year closes on 30-06-2026 and is due by 31-01-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
30-06-2026 close21-09-2026 today31-01-2027 deadline
Financials · fiscal year 2025, micro schema
Equity
€321k▲ 3.8%
2024 · €310k
2019: €163k
2020: €226k
2021: €297k
2022: €343k
2023: €311k
2024: €310k
2019 → 2025
Total assets
€409k▲ 2.6%
2024 · €399k
2019: €480k
2020: €479k
2021: €487k
2022: €472k
2023: €415k
2024: €399k
2019 → 2025
Net result
€12k▲ 95.2%
2024 · €6k
2019: €140k
2020: €63k
2021: €71k
2022: €46k
2023: €17k
2024: €6k
2019 → 2025
Working capital
€391k▲ 209%
2024 · €127k
2019: €9k
2020: €36k
2021: €98k
2022: €151k
2023: €106k
2024: €127k
2019 → 2025
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€297k-€343k▲ 15.5%€311k▼ 9.1%€310k▼ 0.6%€321k▲ 3.8%
Operating result€111k-€67k▼ 40.0%€24k▼ 64.0%€12k▼ 51.8%€19k▲ 67.9%
Net result€71k-€46k▼ 35.6%€17k▼ 63.1%€6k▼ 64.6%€12k▲ 95.2%
Turnover and EBIT margin not published: the micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result recovers in 2025; 2025 is 68% above 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €409k
Fixed assets
€6k▼ 97.8%
Current assets
€404k▲ 192%
Equity and liabilities €409k
Equity
€321k▲ 3.8%
Provisions
€71k=
Debt
€17k▼ 7.9%
The debt ratio falls from 4.7% to 4.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€23k▼
2024 · €36k
Cash flow
€15k▼
2024 · €30k
Solvency
78.5%▲
2024 · 77.6%
Current ratio
31.17▲
2024 · 11.70
Quick ratio
31.17▲
2024 · 11.70
Debt / equity
0.05▼
2024 · 0.06
ROE
3.6%▲
2024 · 1.9%
ROA
2.9%▲
2024 · 1.5%
Interest coverage
68.82▲
2024 · 53.55
Debt
€17k▼
2024 · €19k
Debt ≤ 1 year
€13k▲
2024 · €12k
Debt > 1 year
€5k▼
2024 · €7k
Income taxes
€7k▲
2024 · €5k
Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.
Filed annual accounts
As filed with the NBB · 2025 against 2024
Balance sheet
Code20242025
Assets
Total assets20/58€399k€409k▲
Fixed assets21/28€261k€6k▼
Tangible fixed assets22/27€256k€6k▼
Land and buildings22€224k-
Plant, machinery and equipment23€16k€348▼
Furniture and vehicles24€15k€5k▼
Financial fixed assets28€5k-
Current assets29/58€138k€404k▲
Amounts receivable within one year40/41€29k€288k▲
Other amounts receivable41€29k€288k▲
Cash at bank and in hand54/58€104k€110k▲
Deferred charges and accrued income490/1€5k€5k▲
Equity and liabilities
Total equity and liabilities10/49€399k€409k▲
Equity10/15€310k€321k▲
Contributions10/11€12k€12k=
Reserves13€297k€309k▲
Non-distributable reserves130/1€2k€2k=
Reserves not available under the articles1311€2k€2k=
Distributable reserves133€295k€307k▲
Profit (loss) carried forward14€373€374▲
Provisions and deferred taxes16€71k€71k=
Provisions for liabilities and charges160/5€71k€71k=
Pensions and similar obligations160€71k€71k=
Amounts payable17/49€19k€17k▼
Amounts payable after more than one year17€7k€5k▼
Financial debts170/4€7k€5k▼
Amounts payable within one year42/48€12k€13k▲
Current portion of amounts payable after more than one year42€3k€3k▲
Financial debts43€3-
Credit institutions430/8€3-
Trade debts44€2k€2k▼
Suppliers440/4€2k€2k▼
Taxes, remuneration and social security45€7k€8k▲
Taxes450/3€7k€8k▲
Income statement
Code20242025
Non-recurring operating income76A€0-
Remuneration, social security and pensions62€6k-
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€24k€4k▼
Other operating charges640/8€3k€6k▲
Gross operating margin9900€45k€29k▼
Operating profit (loss)9901€12k€19k▲
Financial income75/76B€4€0▼
Recurring financial income75€4€0▼
Financial charges65/66B€672€337▼
Recurring financial charges65€672€337▼
Profit (loss) for the period before taxes9903€11k€19k▲
Income taxes67/77€5k€7k▲
Profit (loss) for the period9904€6k€12k▲
Profit (loss) for the period to be appropriated9905€6k€12k▲
Appropriation of the result
Profit (loss) to be appropriated9906€6k€12k▲
Profit (loss) brought forward from the previous period14P€369€373▲
Transfer from equity791/2€8k-
Transfer to equity691/2€6k€12k▲
To other reserves6921€6k€12k▲
Profit to be distributed694/7€8k-
Return on contributions (dividend)694€8k-
The notes to these accounts (10 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
05-02
NBB filing
Annual accounts filed
fiscal year 2025 · micro schema · 5 days late
2025
30-06
Financial
Liquidity triplescurrent ratio 31.17
Current ratio from 11.70 to 31.17.
25-02
NBB filing
Annual accounts filed
fiscal year 2024 · micro schema · 25 days late
2024
30-06
Financial
Weakest financial yearnet €6k ▼64.6%
Net result drops to €6k, the lowest in the series; recovery starts the following year.
30-06
Financial
Liquidity doublescurrent ratio 11.70
Current ratio from 5.73 to 11.70; short-term debt falls from €22k to €12k.
08-02
NBB filing
Annual accounts filed
fiscal year 2023 · micro schema · 8 days late
2023
27-02
NBB filing
Annual accounts filed
fiscal year 2022 · micro schema · 27 days late
2022
20-09
NBB filing
Annual accounts filed
fiscal year 2021 · micro schema · 232 days late
30-06
Financial
Liquidity doublescurrent ratio 4.23
Current ratio from 1.93 to 4.23; short-term debt falls from €106k to €47k.
2021
26-02
NBB filing
Annual accounts filed
fiscal year 2020 · micro schema · 26 days late
2020
30-06
Financial
Equity above €200kEq €226k ▲38.7%
2 profitable years in a row build equity to €226k.
24-02
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 24 days late
2018
29-11
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema
2017
15-12
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema
2016
05-12
NBB filing
Annual accounts filed
fiscal year 2016 · full schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
Directors · office · real estate
Directors
no sitting director, no change since 2026
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
06-02-2026
Resigned as Manager
Location & real-estate footprint
Registered office, Seneffe · 1 establishment unit since 2010
Cannot be placed on the map
This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.
Rue de la Samme 127181 SeneffeGround area
1,890 m²
Building footprint
304 m²
Volume, LiDAR
1,239 m³
2 parcels, Wallonia · tallest building 12.0 m, ±4 floors. Linked by address, not a title deed.
1 establishment unit
ORIGAMI
since 20102.187.138.578
2 parcels
Wallonia
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52003B0718/00G004 | Wallonia | 1,139 m² | 1 · 187 m² | - |
| 52046B0694/00P000 | Wallonia | 751 m² | 1 · 117 m² | 12.0 m · 4 fl. |
Linked by address, not proof of ownership
Methodology
via registered seat: 1 · via establishment units: 1
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
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Of 82,569 companies in sector 70200 we hold annual accounts for 52,573. 37,720 are within a factor 10 of this equity.See the whole sector
Company data · Crossroads Bank
Identification
Legal formPrivate limited company
Founded02-04-2010
Fiscal year end30-06
Abbreviation FR
PUZL
Activities, NACEBEL
70200Business and other management consultancy
70220Business consulting
Sources
Crossroads Bank for EnterprisesNational Bank · 15 filingsAddress and cadastre registers
Data from official sources, last processed on 21-09-2026. Scores and ratios are computed by Checked and are not a credit decision.