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PUZZLES

Active Private limited companyfounded 2013active for 13 yearsKarel-Grauxlaan 4, 1640 Sint-Genesius-RodeKBO/BCE: BE 0508.987.803
PUZZLES
Financial year 2025
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Annual accounts 2025

micro format, filed on 08-07-2026, 23 days before the deadline
-€55,952
▼ €254,885
-€91,047
▼ €235,433
-€94,954
▼ €198,421
€78,407
▼ 65.6%
35.2%
▼ 13.5 percentage points
1.48
▼ 0.54

Turnover and EBIT margin are not published. The micro format does not require them.

Balance sheet

balance sheet total €297,315 on 31-12-2025
What the company ownsHow it is paid for

in euro

in euro

Position in the sector

Compare with sector

35.2%

Higher than 30% of 21,217 companies in 2025.

1.48

Higher than 32% of 20,581 companies in 2025.

-31.9%

Higher than 5% of 20,756 companies in 2025.

PUZZLES Middle half of the sector 80% of the sector Micro accounts in computer programming and consultancy (NACE 62)

Net result: bottom quarter · Equity: middle half · Balance sheet total: top quarter · Working capital: middle half

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend2025202420232022202120202019201820172016201520142013
Balance sheet: assets
20/58 297,315552,235452,355311,423236,025176,212178,911154,720139,692100,65887,594106,480101,943
21/28 55,14299,866100,77263,63774,36883,5117,8617,2506,4786,15515,76720,11825,536
22/27 55,14299,866100,77263,63774,36883,5117,8617,2506,4786,15515,76720,11825,536
24 41,26685,99091,20253,53969,42883,5111,5836561,2491,17513,54520,11825,536
26 13,87513,8759,57110,0984,940-6,2786,5945,2294,9802,222--
29/58 242,174452,369351,582247,786161,65792,701171,050147,471133,21494,50371,82786,36276,407
29 169,514293,000175,000----------
291 169,514293,000175,000----------
40/41 12,50790,312126,713123,34395,46548,19639,30814,29532,64831,20923,33519,30220,771
40 12,50790,312120,524122,30184,36742,47539,30811,79832,64831,20922,27719,21319,605
41 --6,1891,04211,0985,721-2,497--1,057901,167
54/58 59,84662,22346,334123,07264,39442,616131,480132,678100,56762,62748,09666,92555,636
490/1 3066,8343,5351,3711,7971,889263498-666397134-
Balance sheet: equity and liabilities
10/49 297,315552,235452,355311,423236,025176,212178,911154,720139,692100,65887,594106,480101,943
10/15 104,553268,508267,374211,695142,58278,46038,545144,535121,83889,75159,35937,90011,375
10/11 6,2006,2006,2006,2006,2006,2006,2006,2006,2006,2006,2006,2006,200
100 ------18,60018,60018,60018,60018,60018,60018,600
101 ------12,40012,40012,40012,40012,40012,40012,400
13 157,860226,860228,360172,360103,36039,3601,8601,8601,8601,8601,8601,8601,860
130/1 ---1,8601,8601,860-------
130 ------1,8601,8601,8601,8601,8601,8601,860
1311 ---1,8601,8601,860-------
133 157,860226,860228,360170,500101,50037,500-------
14 -59,50735,44832,81433,13533,02232,90030,485136,475113,77881,69151,29929,8403,315
17/49 192,762283,727184,98199,72993,44397,753140,36610,18617,85410,90828,23568,58090,568
17 28,99559,46698,36626,44641,68856,781----7,78714,25320,532
170/4 28,99559,46698,36626,44641,68856,781----7,78714,25320,532
42/48 163,767224,26186,61573,28251,75540,971140,36610,18617,85410,90820,44854,32770,036
42 30,47138,70529,85015,24115,09414,947----6,4666,2796,097
44 47,7934,0543,5963,9441,3411,8344,5951,5242,5155,74113,02133,0522,690
440/4 47,7934,0543,5963,9441,3411,8344,5951,5242,5155,74113,02133,0522,690
45 6,63678,41952,36954,09735,32124,19041,5646,00915,2835,06225014,99634,099
450/3 6,63678,41952,36954,09735,32124,19041,5646,00913,1305,06225014,99634,099
454/9 --------2,153----
47/48 78,867103,083800---94,2082,65356105711-27,150
Income statement
76A ---12---------
9900 -55,952198,93391,141116,522108,61465,30535,54633,97255,50452,32842,49447,89273,699
62 -----5002502503,2503,2503,500--
630 29,74029,7565,40519,54218,1665,3481,7661,8051,7787757,6388,8297,912
640/8 5,35524,7914,2763483483904575484483,573381480-
9901 -91,047144,38681,46096,63290,10159,06833,07331,36950,02944,72930,97538,58365,787
75/76B 313,8339304185283191598852813012955
75 313,8339304185283191598852813012955
65/66B 3,5556,8702,0495857161,5271,2841,0241,5651,392830863892
65 3,5556,8702,0495857161,5271,2841,0241,5651,392830863892
9903 -94,600151,34980,34296,46689,91357,86031,94830,43248,51543,41930,44538,01464,900
67/77 35547,88223,86327,35325,79017,9457,9377,73516,42813,0278,98611,48923,725
9904 -94,954103,46756,47969,11364,12239,91524,01022,69732,08730,39121,45926,52641,175
9905 -94,954103,46756,47969,11364,12239,91524,01022,69732,08730,39121,45926,52641,175
Appropriation of the result
9906 -59,507136,28189,614102,13597,02270,400160,485136,475113,77881,69151,29929,84041,175
14P 35,44832,81433,13533,02232,900--------
791/2 69,000101,500-----------
691/2 -100,00056,00069,00064,00037,500------1,860
6920 ------------1,860
6921 -100,00056,00069,00064,00037,500-------
694/7 69,000102,333800---130,000-----36,000
694 69,000102,333800---130,000-----36,000
Document PDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDF

The notes to these accounts have 8 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 08-07-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank
Financial year Type Filed Reference Document
31-12-2025 micro format 08-07-2026 2026-00268272 PDF
31-12-2024 micro format 30-08-2025 2025-00451221 PDF
31-12-2023 micro format 15-08-2024 2024-00347651 PDF
31-12-2022 micro format 03-07-2023 2023-00198807 PDF
31-12-2021 micro format 31-08-2022 2022-20400298 PDF
31-12-2020 micro format 30-08-2021 2021-64600172 PDF
31-12-2019 micro format 17-09-2020 2020-53900038 PDF
31-12-2018 micro format 31-08-2019 2019-60600407 PDF
31-12-2017 micro format 31-07-2018 2018-42200054 PDF
31-12-2016 full format 23-08-2017 2017-48300493 PDF
31-12-2015 full format 11-08-2016 2016-42000159 PDF
31-12-2014 full format 02-07-2015 2015-26300306 PDF
31-12-2013 full format 22-07-2014 2014-33600077 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend2025202420232022202120202019201820172016201520142013
-61,307174,14286,865116,174108,26664,41634,84033,17451,80745,50438,61347,41273,699
-65,214133,22361,88488,65582,28845,26325,77724,50233,86631,16629,09735,35549,087
765113,06357,0858,8009,02287,2762,3772,5772,1013,7933,2873,41233,448
-2,37715,888-76,73858,67821,778-88,863-1,19832,11237,93914,531-18,82911,290-
78,407228,108264,968174,504109,90251,73030,685137,285115,36083,59551,38032,0356,371
35.2%48.6%59.1%68.0%60.4%44.5%21.5%93.4%87.2%89.2%67.8%35.6%11.2%
1.482.024.063.383.122.261.2214.487.468.663.511.591.09
1.841.060.690.470.661.253.640.070.150.120.481.817.96
-90.8%38.5%21.1%32.6%45.0%50.9%62.3%15.7%26.3%33.9%36.2%70.0%362.0%
-31.9%18.7%12.5%22.2%27.2%22.7%13.4%14.7%23.0%30.2%24.5%24.9%40.4%
-17.2425.3542.39over 100over 100--------

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Investments

fixed assets acquired
Item20252024202320222021
Tangible fixed assets€765€113,063€57,085€8,800€9,022
€29,740€29,756€5,405€19,542€18,166

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on PUZZLES

The operating result for 2025 is a loss of €91,047, after a profit of €144,386 in 2024. It is the lowest result since 2013.

Debt's share of the balance-sheet total rises from 51.4% to 64.8%. Equity and debt are lower.

Next steps

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