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PUZZLU

Dissolved and wound up KBO/BCE: BE 0557.942.416
PUZZLU
Financial year 2020
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Annual accounts 2020

micro format, filed on 01-07-2021, 30 days before the deadline
Gross margin
€49,627
▲ 45.4%
Operating result
€46,687
▲ 66.6%
Profit
€34,865
▲ 65.8%
Working capital
€161,020
▲ 12.9%
Solvency
91.8%
▼ 1.0 percentage points
Current ratio
11.28
▼ 2.15

Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.

Turnover ≈ €200,000. Estimated: probably between €120,000 and €360,000.

Balance sheet

balance sheet total €190,536 on 31-12-2020
What the company ownsHow it is paid for

Change in equityin euro

Change in cashin euro

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend2020201920182017201620152014
Balance sheet: assets
Total assets20/58 190,536159,760353,600277,641203,109163,55070,955
Formation expenses20 --0----
Fixed assets21/28 13,8525,64518,40714,53720,65627,282886
Intangible fixed assets21 --0----
Tangible fixed assets22/27 13,8525,64518,40714,53720,65627,282886
Land and buildings22 --0----
Plant, machinery and equipment23 --0----
Furniture and vehicles24 13,8525,64518,40714,53720,65627,282886
Other tangible fixed assets26 --0----
Assets under construction and advance payments27 --0----
Financial fixed assets28 --0----
Current assets29/58 176,684154,115335,193263,104182,453136,26870,068
Amounts receivable after more than one year29 34,10032,5000---6,400
Trade receivables290 34,10032,5000----
Other amounts receivable291 --0---6,400
Stocks and contracts in progress3 --0----
Stocks30/36 --0----
Contracts in progress37 --0----
Amounts receivable within one year40/41 34,04547,41853,87731,83780,99831,97026,908
Trade receivables40 34,04523,93521,8129,34253,30627,08826,720
Other amounts receivable41 023,48332,06522,49527,6924,882188
Current investments50/53 --0---9,600
Cash at bank and in hand54/58 108,01473,698279,425229,14198,19398,84024,706
Deferred charges and accrued income490/1 5254991,8912,1263,2615,4582,454
Balance sheet: equity and liabilities
Total equity and liabilities10/49 190,536159,760353,600277,641203,109163,55070,955
Equity10/15 174,872148,282328,065257,857188,063120,17147,693
Contributions10/11 18,70018,70018,70018,70018,70018,70018,700
Issued capital100 -18,70018,70018,70018,70018,70018,700
Uncalled capital101 --0----
Contributions outside capital11 --0----
Share premium1100/10 --0----
Revaluation surpluses12 --0----
Reserves13 139,67130,86392,86392,86392,86391,51728,993
Non-distributable reserves130/1 0-0----
Legal reserve130 -1,8701,8701,8701,870524250
Reserves not available under the articles1311 0------
Own shares acquired1312 --0----
Other1319 --0----
Tax-exempt reserves132 -062,00062,00062,00062,00024,000
Distributable reserves133 139,67128,99328,99328,99328,99328,9934,744
Profit (loss) carried forward14 16,50298,718216,502146,29476,4999,954-
Investment grants15 --0----
Advance to shareholders on the distribution of net assets19 --0----
Provisions and deferred taxes16 --0----
Provisions for liabilities and charges160/5 --0----
Pensions and similar obligations160 --0----
Taxes161 --0----
Major repairs and maintenance162 --0----
Environmental obligations163 --0----
Other liabilities and charges164/5 --0----
Deferred taxes168 --0----
Amounts payable17/49 15,66311,47825,53519,78315,04643,37923,261
Amounts payable after more than one year17 --0----
Financial debts170/4 --0----
Trade debts175 --0----
Advances received on contracts in progress176 --0----
Other amounts payable178/9 --0----
Amounts payable within one year42/48 15,66311,47825,53519,78315,04623,37923,261
Current portion of amounts payable after more than one year42 --0----
Financial debts43 --0----
Credit institutions430/8 --0----
Other loans439 --0----
Trade debts44 1,3582,0026,3587,5558,6078,0511,387
Suppliers440/4 1,3582,0026,3587,5558,6078,0511,387
Bills of exchange payable441 --0----
Advances received on contracts in progress46 --0----
Taxes, remuneration and social security45 7,5706,9872,507571,95813,41321,875
Taxes450/3 7,244-0-16611,28321,875
Remuneration and social security454/9 3276,9872,507571,7922,130-
Other amounts payable47/48 6,7352,48916,67012,1714,4811,915-
Accrued charges and deferred income492/3 --0--20,000-
Income statement
Non-recurring operating income76A 19,0741,11111,709----
Gross operating margin9900 49,62734,120100,636112,533108,288127,98337,115
Remuneration, social security and pensions62 --0----
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 2,3945,1988,8055,74311,9517,656443
Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 --0----
Provisions for liabilities and charges: additions (uses and reversals)635/8 --0----
Other operating charges640/8 5465005261,21412410550
Operating charges capitalised as restructuring costs649 --0----
Non-recurring operating charges66A 040302,265397,815-
Operating profit (loss)9901 46,68728,01991,305103,31096,174120,22236,622
Financial income75/76B 105620451,42704438
Recurring financial income75 105620451,42704438
Non-recurring financial income76B --0----
Financial charges65/66B 4678104796711,2532550
Recurring financial charges65 4678104796711,2532550
Non-recurring financial charges66B --0----
Profit (loss) for the period before taxes9903 46,32527,82990,871104,06694,922112,59636,630
Income taxes67/77 11,4606,80119,86334,27127,03040,1187,637
Profit (loss) for the period9904 34,86521,02871,00869,79567,89272,47828,993
Transfer from tax-exempt reserves789 --0----
Transfer to tax-exempt reserves689 --0--62,00024,000
Profit (loss) for the period to be appropriated9905 34,86521,02871,00869,79567,89210,4784,993
Appropriation of the result
Profit (loss) to be appropriated9906 51,36737,530217,302146,29477,84610,4784,993
Transfer from equity791/2 062,0000----
Transfer to equity691/2 34,065-0-1,3465244,993
Addition to contributions691 --0----
To the legal reserve6920 --0-1,346524250
To other reserves6921 34,065-0---4,744
Profit to be distributed694/7 800812800----
Return on contributions (dividend)694 800812800----
Directors or managers695 --0----
Employees696 --0----
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Source: Annual accounts 2020 (PDF), filed on 01-07-2021.

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Filings

each dot is a set of accounts, on the day it reached the National Bank
Financial year Type Filed Reference Document
31-12-2020 micro format 01-07-2021 2021-28700010 PDF
31-12-2019 micro format 08-07-2020 2020-27500094 PDF
31-12-2018 micro format 01-07-2019 2019-26700203 PDF
31-12-2017 abbreviated format 02-07-2018 2018-27100129 PDF
31-12-2016 abbreviated format 26-06-2017 2017-23800318 PDF
31-12-2015 abbreviated format 08-07-2016 2016-30000053 PDF
31-12-2014 abbreviated format 02-07-2015 2015-26700389 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend2020201920182017201620152014
EBITDA 49,08133,217100,110109,053108,125127,87837,065
Cash flow 37,25926,22779,81375,53879,84380,13429,437
Investment in fixed assets 15,3531,33917,25619,07111,36434,0511,330
Change in cash 34,316-205,72750,284130,948-64774,134-
Working capital 161,020142,637309,658243,321167,407112,88946,807
Solvency 91.8%92.8%92.8%92.9%92.6%73.5%67.2%
Current ratio 11.2813.4313.1313.3012.135.833.01
Debt to equity 0.090.080.080.080.080.360.49
ROE 19.9%14.2%21.6%27.1%36.1%60.3%60.8%
ROA 18.3%13.2%20.1%25.1%33.4%44.3%40.9%

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.

Insights on PUZZLU

The operating result for 2020 is 67% higher than in 2019. It is a recovery after the fall in 2019.

Debt's share of the balance-sheet total rises from 7.2% to 8.2%. Equity and debt are higher.

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