Puzzle in a Bag

Active

Private limited companyfounded 2023active for 3 yearsVenusstraat 15, 2900 Schoten, BelgiumKBO/BCE: BE 1001.573.005

From the official registers: KBO 3 annual accounts at the National Bank publications in the Belgian Official Gazette

Summary

Puzzle in a Bag has been active since 2023 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €35,911 and a net result of €46,542. Equity is growing by about 4% per year across the filed financial years. Its solvency ranks better than 30% of 781 sector peers (NACE 32, financial year 2025). The computed 12-month bankruptcy probability is 1.2% (low).

Risk analysisFollow Report Compare

Puzzle in a BagActiveChecked score 66/100

Risk analysis Report Compare

Official details

KBO

Status: Active since 24-10-2023 Normal situation
Legal form: Private limited company
Registered office: Venusstraat 15, 2900 Schoten
Activity: Other manufacturing NACE 32400and 5 others
Establishment unit: 2.351.763.020 2900 Schoten, since 24-10-2023
Financial year end: 31 December
Peppol: Reachable since 07-01-2026

Company details

Who decides

Board

MCHNSDirector · since 23-10-2023 · permanent representative DAELEMANS Nick
12th manDirector · since 24-10-2023 · permanent representative VERNAILLEN Jan Jozef
The BolokoDirector · since 24-10-2023 · permanent representative VERTESSEN Mathias

Board & ownership

How it is doing

66 Healthy Checked score 2025

Bankruptcy probabilitywithin 12 months: 1.2%

Annual accounts 2025

Gross margin: €78,111
Turnover: ≈ €240,000; estimated
Profit: €46,542
Equity: €35,911
Total assets: €190,077; ▲ 13.0%

2025 accounts 29 days early

Filed on 02-07-2026at the National Bank

Financials

Why 66raises risk2 of the last 3 lateFounded in 2023lowers riskSector: Other manufacturing (NACE 32)Liquidity: current ratio 1.31, cash €29,310Show the evidence

Checked score

Score 2025

66 / 100

Healthy

Probability in this band: 0.55% to 1.5%

Financially better than 64% of its sector peers (NACE 32, micro)

Every signal that counts is listed under Signals.

Financial strength · tick = 2024

Strong

Solvency 44+25

equity 18.9% of total assets

Liquidity 49+9

short-term debt 42.1% · cash 15.4%

Profitability 99+99

return on assets 24.5%

Bankruptcy probability, 12 months

1.2% Low

0%0.5%1.5%4%10%≥ 25%

About 1 in 100 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.3% (1,142 companies, NACE 32, micro)

Last 24 months 11-2024: 0.8% 12-2024: 0.8%● unchanged vs 11-2024 01-2025: 0.7%▼ -0.1 percentage points vs 12-2024lowest value 02-2025: 0.7%● unchanged vs 01-2025 03-2025: 0.7%● unchanged vs 02-2025 04-2025: 0.7%● unchanged vs 03-2025 05-2025: 0.7%● unchanged vs 04-2025 06-2025: 0.7%● unchanged vs 05-2025 07-2025: 0.7%● unchanged vs 06-2025 08-2025: 1.1%▲ +0.4 percentage points vs 07-2025 09-2025: 1.5%▲ +0.4 percentage points vs 08-2025 10-2025: 4.1%▲ +2.6 percentage points vs 09-2025highest value 11-2025: 4.1%● unchanged vs 10-2025highest value 12-2025: 4.1%● unchanged vs 11-2025highest value 01-2026: 2.7%▼ -1.4 percentage points vs 12-2025 02-2026: 2.7%● unchanged vs 01-2026 03-2026: 2.7%● unchanged vs 02-2026 04-2026: 2.8%▲ +0.1 percentage points vs 03-2026 05-2026: 2.7%▼ -0.1 percentage points vs 04-2026 06-2026: 2.6%▼ -0.1 percentage points vs 05-2026 07-2026: 2.6%● unchanged vs 06-2026 08-2026: 1.2%▼ -1.4 percentage points vs 07-2026 09-2026: 1.2%● unchanged vs 08-2026 10-2026: 1.2%● unchanged vs 09-2026

Credit of up to €2,000 on 30-day terms is acceptable

Liquidity tight (current ratio 1.31, compared with 0.45 in 2024, below the usual 1.5; short-term debt: 42.1% and cash: 15.4% of total assets), and 81.1% of the assets are financed with debt and provisions.

How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100	Excellent	under 0.55%
60-74	Healthy	0.55% to 1.5%
45-59	Fair	1.5% to 4.2%
25-44	Weak	4.2% to 15.0%
0-24	Critical	over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 32, micro): better than 29% on solvency, 42% on liquidity, 86% on profitability and 98% on growth.

The bankruptcy probability was computed on 31-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Five signals.

lowers riskraises riskneutral

2 of the last 3 late

NBB · filings

Founded in 2023

Companies of this age fail more often than older ones; how much that weighs depends on the rest of its profile.

KBO

Sector: Other manufacturing (NACE 32)

KBO

Liquidity: current ratio 1.31, cash €29,310

NBB · annual accounts

Latest accounts filed on time

The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 02-07-2026, 29 days ahead of the deadline.

NBB · 3 filings

Deviation from the deadline

2025

29 days early

2024

50 days late

2023

68 days late

← before the deadline after the deadline →

tick = median of all Belgian filingsring = median in the sector

This company filed its last 3 accounts on average 30 days after the deadline; the sector median (NACE 32) for financial year 2024 is 2 days before the deadline, and 39% of those companies filed late.

Searched, nothing found (2)

Next filing not due yet

The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 19 September (3 of the last 3 filed years within 79 days of that day).

Companies Code · seven months

Where today falls in the filing period

01-11-2026 today31-12-2026 year end31-07-2027 deadline

No strike-offs in the KBO publications

Searched since incorporation in 2023.

KBO publications · our coverage

Key points

Positive: Back in profit in 2025after -€43,759 in 2024 €46,542 View
Positive: Among the best 18% on net resultsector median €7,615 · 779 companies €46,542 View

Documents

Annual accounts at the NBB

Annual accounts 2025filed on 02-07-2026
Annual accounts 2024filed on 19-09-2025
Annual accounts 2023filed on 07-10-2024

Acts in the Belgian Official Gazette

Registered officeact of 19-12-2023
Incorporationact of 26-10-2023

All publications in the Belgian Official Gazette

Articles and registers

Coordinated articles of associationnotaries' database
Entry in the KBO registerKBO Public Search

Key facts about Puzzle in a Bag

What is the company number of Puzzle in a Bag?: 1001.573.005. In Belgium the VAT number is the company number with BE in front: BE 1001.573.005.
Where is Puzzle in a Bag based?: The registered office is at Venusstraat 15, 2900 Schoten.Company details
What does Puzzle in a Bag do?: According to the KBO register, the main activity is other manufacturing (NACE 32400).
What is the legal form of Puzzle in a Bag?: Private limited company (BV).
When was Puzzle in a Bag founded?: On 24-10-2023.
Is Puzzle in a Bag still active?: Yes, Puzzle in a Bag is an active enterprise in the KBO register.
What is the turnover of Puzzle in a Bag?: ≈ €240,000 in financial year 2025. Estimated from the gross margin of €78,111: probably between €160,000 and €410,000, based on 2,676 comparable companies of the same size. A rough estimate.Financials
Is Puzzle in a Bag profitable?: In financial year 2025, Puzzle in a Bag made a profit of €46,542.
Where can I find the annual accounts of Puzzle in a Bag?: Puzzle in a Bag filed 3 annual accounts with the National Bank of Belgium, the latest for financial year 2025.Annual accounts at the National Bank
When are the next annual accounts of Puzzle in a Bag due?: By 31-07-2027, for financial year 2026.Timeline

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Overview