Turnover
≈ €120,000 estimated
The micro format states no turnover.
Puzzles
Lifetime
15 annual accounts with figures on one time axispeak €109,389 (2016)
€30,102▼ 8.3%
lowest -€45,872 (2020)
€25,674▼ 17.0%
peak €134,490 (2018)
€119,566▲ 27.3%
€11,606▼ 30.6%
peak 0.7 FTE (2015)
-not published
Board2 names since 2021
2 directors and 1 other
Documentsfilings and deeds
16-06-202645 days before the deadline
2025micro format
Equity from €93,892 to €119,566Debts from €16,723 to €11,606
Key points
from the 2025 annual accountsLiquidity
10.71 was 6.24 in 2024
Short-term debts fell from €16,723 to €11,606.
Position in the sector
91.2%
Higher solvency than 90% of companies in textiles. Sector median 44.6% · 289 companies.
Checked score
Bankruptcy probability within 12 months
Financial strength
Score breakdown
Comparable companies, two years later
In July 2024, 34,691 companies had the same profile as Puzzles has now. Each dot stands for 87 companies, two years later.
95.3%
were still trading
3.9%
stopped another way
0.7%
went bankrupt
Test of the method
The method was tested on the 497,331 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.
| 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 | 2.9% | 3.1% |
| 10 | 5.6% | 6.1% |
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 34,691 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
Recent changes
Registered in the Peppol Directory
Reachable for e-invoices through 0208:0825975883
Company renamed from Lovely Labels to Puzzles
Changes of role: (director) and (director) · “Beheer van sportverenigingen (infrastructuur,ontwikkelen van nieuwe activiteiten,…); Bestuur van sport en…” (deed in Dutch) · Director discharge: · General meeting of 22-05-2023 · Gazette deed
Incorporation
published on 20-05-2010 · Gazette deed
First establishment
Lovely Labels, Mariakerksesteenweg 203, Ghent
Comparable companies
same main activity, similar in size and age| Company | ||||
|---|---|---|---|---|
| Puzzles Ghent | €131,172 | €30,102 | 91.2% | - |
| J & S DESIGN Hasselt | €357,706 | €83,637 | 64.9% | - |
| TEE COMME Juprelle | €653,611 | €316,887 | 48.2% | - |
| SWYNEN MODEATELIER Antwerp | €378,162 | €681,422 | 50.6% | - |
| Borduur Centrum België Sint-Niklaas | €285,448 | €342,770 | 46.7% | - |
| NWS Belgium Soignies | €878,015 | €252,178 | 31.5% | - |
| WATYPIQUE Waremme | €175,590 | €10,887 | 22.3% | - |
These companies have the same main activity as Puzzles: manufacture of textiles (NACE 13990). They are comparable in size and age: total assets between €176,000 and €878,000, founded between 1997 and 2020.
Official details
Source: KBO- Status
- Active since 18-05-2010Normal situation
- Activity
- Manufacture of textilesNACE 13990
- Joint committee
- 201Independent retail · annual accounts 2022
- Establishment unit
- 2.188.136.1939031 Ghent, since 18-05-2010
- Financial year end
- 31 December
- Peppol
- Reachable since 16-03-2026
Annual accounts 2025
- €131,172▲ 18.6%
- Filing
- Filed on 16-06-2026, 45 days before the end of the filing period
Insights on Puzzles
Puzzles files the micro format. That format states no turnover. The gross margin fell from €65,233 in 2011 to €30,102 in 2025.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette. Click a figure with a dotted line for the item and the filing.
Key facts about Puzzles
- What is the company number of Puzzles?
- The company number of Puzzles is 0825.975.883. The VAT number is the same number with BE in front: BE 0825.975.883.
- Where is Puzzles based?
- The registered office is at Mariakerksesteenweg 203, 9031 Ghent.Company details
- What does Puzzles do?
- According to the KBO register, the main activity is manufacture of textiles (NACE 13990).
- What is the legal form of Puzzles?
- Puzzles is a private limited company (BV).
- When was Puzzles founded?
- Puzzles was founded on 18-05-2010.
- Is Puzzles still active?
- Yes, Puzzles is an active enterprise in the KBO register.
- How many employees does Puzzles have?
- Puzzles had an average of 0.8 full-time equivalents in financial year 2022, according to the filed annual accounts.Financials
- Which joint committee does Puzzles fall under?
- In its 2022 annual accounts, Puzzles states joint committee 201 (Independent retail).
- What is the turnover of Puzzles?
- The turnover in financial year 2025 is ≈ €120,000. This figure is estimated from the gross margin of €30,102 and 2,936 comparable companies of the same size. It probably lies between €73,000 and €220,000. It is a rough estimate.
- Is Puzzles profitable?
- In financial year 2025, Puzzles made a profit of €25,674.
- Where can I find the annual accounts of Puzzles?
- Puzzles filed 15 annual accounts with the National Bank of Belgium, the latest for financial year 2025.
- When are the next annual accounts of Puzzles due?
- Puzzles must file the annual accounts for financial year 2026 by 31-07-2027.Timeline
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Check which of your other customers you can e-invoice via Peppol.Peppol check Compare this company with its sector.Sector benchmark See what changed in the latest annual accounts.What changed
See how customers, suppliers and banks see your own company and what to improve first.