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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
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Overview

Lifetime

13 annual accounts with figures on one time axis
peak €198,933 (2024)
-€55,952▼ €254,885
lowest -€94,954 (2025)
-€94,954▼ €198,421
peak €268,508 (2024)
€104,553▼ 61.1%
€192,762▼ 32.1%
Board2 names since 2013
1 director
Documentsfilings and deeds
08-07-202623 days before the deadline
2025micro format
Gross margin from €198,933 to -€55,952Loss of €94,954Resignation: (director) 07-07Dividend €69,000Equity from €268,508 to €104,553Debts from €283,727 to €192,762

Key points

from the 2025 annual accounts

Equity

€104,553 ▼ 61.1%
268,5082024-94,954Loss-69,000Dividend104,5532025

PUZZLES paid out €69,000 in dividends in a year with a loss of €94,954.

Result

-€94,954 -€94,954
€103,0002024-€95,0002025

From profit to loss in 2025, after a profit of €103,467 in 2024.

Position in the sector

-€94,954

Lower net result than 95% of companies in computer programming and consultancy. Sector median €28,568 · 21,223 companies.

Turnover not published (micro format)

Checked score

Bankruptcy probability within 12 months

Financial strength

Score breakdown

Comparable companies, two years later

In July 2024, 4,805 companies had the same profile as PUZZLES has now. Each dot stands for 13 companies, two years later.

88.1%
were still trading
9.8%
stopped another way
2.0%
went bankrupt
  • Micro
  • 10 to 20 years old
  • solvency 30% or more
  • a loss of 10% of the balance sheet or more

Another 0.1% stopped without a precise date, possibly only after those two years.

Test of the method

The method was tested on the 497,448 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.

The companies in ten equal groups, from the lowest to the highest expected share
Group Expected Actual
1 0.2% 0.2%
2 0.3% 0.5%
3 0.5% 0.6%
4 0.7% 0.8%
5 0.9% 0.9%
6 1.3% 1.5%
7 1.6% 1.8%
8 1.8% 1.8%
9 3.0% 3.1%
10 5.6% 6.2%

A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.

This is an observation about 4,805 companies, not a prediction for PUZZLES. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.

Credit verdict

Credit check for an amount and term of your choice

Show the recommended maximum and see how the verdict changes with amount, term and advance.

The scores and ratios are Checked's own calculations, not a credit decision.

Signals

Board and ownership

Director, since 08-01-2013
Board & ownership

Recent changes

Registered in the Peppol Directory Reachable for e-invoices through 0208:0508987803
Resignation: (director) General meeting of 12-05-2025 · Gazette deed
Appointment: (director) “De creatie, productie, promotie, verspreiding en verwezenlijking onder welke vorm ook van culturele en…” (deed in Dutch) · General meeting of 07-06-2024 · Gazette deed
Change of role: , from manager to director General meeting of 22-09-2023 · Gazette deed
All 26 events

Comparable companies

same main activity, similar in size and age
Company
PUZZLES Sint-Genesius-Rode €297,315 -€55,952 35.2% -
Teasio Marche-en-Famenne €287,476 -€38,969 -234.9% -
ALDDOW Tournai €258,753 -€5,358 -8.8% -
TheMatchBox Antwerp €329,414 -€114,962 -63.0% 3.8
GEMA Benelux Machelen (Brab.) €279,692 -€5,135 97.6% -
dewIT CONSULTING Merchtem €329,715 -€33,782 61.1% -
Cyqax.com Landen €380,909 -€3,054 92.2% -

These companies have the same main activity as PUZZLES: computer programming (NACE 62100). They are comparable in size and age: total assets between €259,000 and €381,000, founded between 2012 and 2016.

Official details

Source: KBO
Status
Active since 08-01-2013Normal situation
Activity
Computer programmingNACE 62100and 3 others
Establishment unit
2.215.434.6661640 Sint-Genesius-Rode, since 08-01-2013
Financial year end
31 December
Peppol
Reachable since 03-12-2025
Company details

Annual accounts 2025

-€55,952
€94,954
€104,553▼ 61.1%
€297,315▼ 46.2%
Filing
Filed on 08-07-2026, 23 days before the end of the filing period
Financials

Insights on PUZZLES

PUZZLES files the micro format. That format states no turnover. The gross margin fell from €73,699 in 2013 to -€55,952 in 2025.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

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.

Board & ownership

Board

1 director, last change in 2025
Director (not named in the articles)
since 08-01-2013 term without a fixed end
earlier manager, until 23-10-2023
listed in the 2025 annual accounts, filed on 08-07-2026

Office holders in the KBO →

Mandates through the years

2 names, the dashed line is today

Director (not named in the articles)

Director
BoardEarliermandate already running before its first mention
Mandates as a list
    • Director (not named in the articles), from 08-01-2013 to date
    • Manager, until 23-10-2023
    • Director, appointed by deed of 03-07-2024, until 12-05-2025

See the board, name and registered office on a given date →

Control

See the annual accounts at the National Bank and the publications in the Belgian Official Gazette.

Capital

Contribution
€6,200
Shares
100
Contribution per share
€62
Equity per share
€1,046 in 2025
Source
2025 annual accounts

Articles of association

deed of 23-10-2023 (in Dutch)
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
Liquidation ruleIn a liquidation the creditors are paid first. What is left goes to the shareholders.
“Één of meerdere vereffenaars aanduiden bevoegdheden omlijnen vergoeding bepalen, indien geen andere vereffenaar benoemd”

Network & group

No group

PUZZLES has no parent and no holdings in its annual accounts. is the only director. PUZZLES shares no director with another company.

Timeline

Timeline

26 events since 2013

Deadline for the 2026 accounts: 31-07-2027

2026
Annual accounts 2025 filed NBBmicro format · 23 days before the deadline
2025
Weakest financial year net -€94,954 The net result drops to -€94,954, the lowest from 2013 to 2025.
Registered in the Peppol Directory Reachable for e-invoices through 0208:0508987803
Annual accounts 2024 filed PDFmicro format · 30 days late
Resignation: (director)General meeting of 12-05-20252 points ▸
  • General meeting, 12-05-2025
  • Director resignation,

Open the deed in the Belgian Official Gazette

2024
Highest result from 2013 to 2025 net €103,467 ▲83.2% The operating result of €144,386 and the net result of €103,467 are both a record.
Annual accounts 2023 filed PDFmicro format · 15 days late
Appointment: (director)“De creatie, productie, promotie, verspreiding en verwezenlijking onder welke vorm ook van culturele en…” (deed in Dutch) · General meeting of 07-06-20244 points ▸
  • General meeting, 07-06-2024
  • Purpose change, “De creatie, productie, promotie, verspreiding en verwezenlijking onder welke vorm ook van culturele en artistieke expressie en in het bijzonder, zonder dat deze…” (deed in Dutch)
  • Director appointment,
  • Power of attorney,
  • The deed holds 2 more points.

Open the deed in the Belgian Official Gazette

2023
Change of role: , from manager to directorGeneral meeting of 22-09-20236 points ▸
  • General meeting, 22-09-2023
  • 100 shares
  • Director resignation, (manager)
  • Director appointment, (director (not named in the articles))
  • Registered office clause, Karel Grauxlaan 4, 1640 Sint-Genesius-Rode
  • Power of attorney,
  • The deed holds 4 more points.

Open the deed in the Belgian Official Gazette

Annual accounts 2022 filed PDFmicro format · 28 days before the deadline
2022
Equity above €200,000 equity €211,695 ▲48.5% Equity rises from €142,582 to €211,695.
Annual accounts 2021 filed PDFmicro format · 31 days late
2021
Registered office moved from Beersel to Sint-Genesius-RodeNew registered office: Avenue Charles Graux 4, 1640 Sint-Genesius-Rode · Previous registered office: GRENSWEG 21, 1654 BEERSEL · General meeting of 12-11-20202 points ▸
  • General meeting, 12-11-2020
  • Registered-office move, Avenue Charles Graux 4, 1640 Sint-Genesius-Rode

Open the deed in the Belgian Official Gazette

Annual accounts 2020 filed PDFmicro format · 30 days late
2020
Annual accounts 2019 filed PDFmicro format · 48 days late
2019
Annual accounts 2018 filed PDFmicro format · 31 days late
2018
Annual accounts 2017 filed PDFmicro format · on the deadline day
2017
Equity above €100,000 equity €121,838 ▲35.8% With a profit in every financial year since 2013, equity grows to €121,838.
Annual accounts 2016 filed PDFfull format · 23 days late
2016
Liquidity more than doubled current ratio 8.66 The current ratio rises from 3.51 to 8.66. Short-term debt falls from €20,448 to €10,908.
Annual accounts 2015 filed PDFfull format · 11 days late
2015
Liquidity more than doubled current ratio 3.51 The current ratio rises from 1.59 to 3.51. Short-term debt falls from €54,327 to €20,448.
Annual accounts 2014 filed PDFfull format · 29 days before the deadline
2014
Annual accounts 2013 filed PDFfull format · 9 days before the deadline
2013
Incorporation PDFpublished on 10-01-2013
First establishment Karel-Grauxlaan 4, Sint-Genesius-Rode

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official GazetteFilings with the National Bank

History

On 8 January 2013, PUZZLES was incorporated.1 In 2021 the registered office moved to Sint-Genesius-Rode.2 Total assets went from €154,720 in 2018 to €297,315 in 2025.3

  1. 1KBO register
  2. 2Belgian Official Gazette, 06-10-2021
  3. 3National Bank, annual accounts 2018 and 2025

Company details

Identity

Enterprise number
0508.987.803
VAT number
BE 0508.987.803
Peppol ID
0208:0508987803
Legal form
Private limited company
Status
Active, normal situation
Founded
08-01-2013
Financial year
ends on 31 December
Peppol
Reachable since 03-12-2025Follow this company and you will hear the next morning if it leaves the Peppol register.
Name
PUZZLES in Dutch
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 23-10-2023 (in Dutch)
Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest”
deed of 23-10-2023 (in Dutch)

Activities

NACEBEL 2025
62100 Computer programming main activity
62200 Computer consultancy and computer facilities management
62900 Other information technology and computer services
70200 Business and other management consultancy
Codes under NACEBEL 2008
62010 Computer programming, consultancy and related activities main activity
62020 IT consultancy
62030 Computer programming, consultancy and related activities
62090 Computer programming, consultancy and related activities
70220 Business consulting
PurposeThe purpose describes the activities the company may carry out under its articles.
“Consultancy in de meest ruime zin van het woord; Advisering in alle domeinen en in alle sectoren; Het onderzoek, de studie, de prospectie…”
9 activities
  1. Consultancy in de meest ruime zin van het woord.
  2. Advisering in alle domeinen en in alle sectoren.
  3. Het onderzoek, de studie, de prospectie, het beheer, en de coördinatie van projecten.
  4. De organisatie van evenementen.
  5. Het voeren van publiciteit en marketing.
  6. Het onderzoek en de ontwikkeling in alle domeinen.
  7. De oprichting en de valorisatie van een onroerend patrimonium, zowel onroerende goederen als onroerende zakelijke rechten, met inbegrip van de aankoop, de verkoop, de ruiling, de verhandeling, het beheer, de leasing, de gemeubelde en niet-gemeubelde verhuur, zowel in de hoedanigheid van verhuurder, als in de hoedanigheid van huurder, de verkaveling, de schatting, de wederverkoop, de makelaardij, de promotie van alle onroerende goederen van welke aard dan ook, gelegen in België of in het buitenland.
  8. De aankoop, de verkoop of de ruil van alle roerende goederen en alle roerende waarden, met inbegrip van de ontwikkeling en het beheer van een portefeuille van roerende waarden, doch enkel voor eigen rekening.
  9. Het nemen, rechtstreeks of onrechtstreeks, van deelnemingen in het kapitaal van elke reeds bestaande of nog op te richten Belgische of buitenlandse rechtspersoon, op welke wijze dan ook, met name door inbreng, fusie, onderschrijving van nieuwe aandelen en als stille vennoot.
deed of 03-07-2024 (in Dutch)

Registered office and establishments

1 establishment
Establishment Since Unit number
Karel-Grauxlaan 4 registered office 1640 Sint-Genesius-Rode 08-01-2013 2.215.434.666
1 former office
  • Grensweg 21, 1654 Beersel until 12-11-2020 · deed of 06-10-2021

Buildings and parcels at the address

Ground area
985 m²
Buildings
146 m²
Volume, LiDAR
797 m³
Tallest building
8.5 m
Buildings to scale, each on its own parcel
146 m², 8.5 m 146 m², 8.5 m

Location

registered office establishment The establishment unit on the map

Parcels

Cadastral parcelArea Buildings Height / floors
22552F0002/00L067985 m² 1 · 146 m² 8.5 m · 2

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