PUZL Consulting: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
PUZL Consulting
Largest movements
- Receivables within one year +€259,046
up €259,046 (+893%), from €29,010 to €288,057
- Tangible fixed assets -€249,701
down €249,701 (-97.7%), from €255,543 to €5,842
of which Land and buildings: -€224,041
- Cash +€5,989
up €5,989 (+5.7%), from €104,230 to €110,218
mainly Investment in fixed assets (net) (+€251,177) and Net result for the year (+€11,720)
- Financial fixed assets -€5,200
no longer reported in 2025 (was €5,200)
- Reserves +€11,720
up €11,720 (+3.9%), from €296,930 to €308,650
of which Distributable reserves: +€11,720
- Depreciation -€20,670
down €20,670 (-84.7%), from €24,395 to €3,725
- Gross operating margin -€15,868
down €15,868 (-35.6%), from €44,582 to €28,714
- Staff costs -€5,781
no longer reported in 2025 (was €5,781)
- Other operating charges +€2,713
up €2,713 (+96.2%), from €2,820 to €5,533
- Taxes +€2,486
up €2,486 (+50.6%), from €4,914 to €7,399
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €399,164 | €409,397 | +€10,232 | +2.6% |
| Fixed assets | 21/28 | €260,743 | €5,842 | -€254,901 | -97.8% |
| Tangible fixed assets | 22/27 | €255,543 | €5,842 | -€249,701 | -97.7% |
| Land and buildings | 22 | €224,041 | - | -€224,041 | |
| Plant, machinery and equipment | 23 | €16,299 | €348 | -€15,951 | -97.9% |
| Furniture and vehicles | 24 | €15,204 | €5,494 | -€9,710 | -63.9% |
| Financial fixed assets | 28 | €5,200 | - | -€5,200 | |
| Current assets | 29/58 | €138,421 | €403,555 | +€265,134 | +192% |
| Amounts receivable within one year | 40/41 | €29,010 | €288,057 | +€259,046 | +893% |
| Other amounts receivable | 41 | €29,010 | €288,057 | +€259,046 | +893% |
| Cash at bank and in hand | 54/58 | €104,230 | €110,218 | +€5,989 | +5.7% |
| Deferred charges and accrued income | 490/1 | €5,181 | €5,280 | +€99 | +1.9% |
| Total equity and liabilities | 10/49 | €399,164 | €409,397 | +€10,232 | +2.6% |
| Equity | 10/15 | €309,703 | €321,424 | +€11,720 | +3.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €296,930 | €308,650 | +€11,720 | +3.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €295,070 | €306,790 | +€11,720 | +4.0% |
| Profit (loss) carried forward | 14 | €373 | €374 | +€0 | +0.1% |
| Provisions and deferred taxes | 16 | €70,513 | €70,513 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €70,513 | €70,513 | = | 0.0% |
| Pensions and similar obligations | 160 | €70,513 | €70,513 | = | 0.0% |
| Amounts payable | 17/49 | €18,948 | €17,460 | -€1,488 | -7.9% |
| Amounts payable after more than one year | 17 | €7,113 | €4,512 | -€2,602 | -36.6% |
| Financial debts | 170/4 | €7,113 | €4,512 | -€2,602 | -36.6% |
| Amounts payable within one year | 42/48 | €11,835 | €12,949 | +€1,114 | +9.4% |
| Current portion of amounts payable after more than one year | 42 | €2,525 | €2,602 | +€76 | +3.0% |
| Financial debts | 43 | €3 | - | -€3 | |
| Credit institutions | 430/8 | €3 | - | -€3 | |
| Trade debts | 44 | €2,208 | €1,944 | -€264 | -12.0% |
| Suppliers | 440/4 | €2,208 | €1,944 | -€264 | -12.0% |
| Taxes, remuneration and social security | 45 | €7,099 | €8,403 | +€1,304 | +18.4% |
| Taxes | 450/3 | €7,099 | €8,403 | +€1,304 | +18.4% |
| Non-recurring operating income | 76A | €0 | - | -€0 | |
| Remuneration, social security and pensions | 62 | €5,781 | - | -€5,781 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,395 | €3,725 | -€20,670 | -84.7% |
| Other operating charges | 640/8 | €2,820 | €5,533 | +€2,713 | +96.2% |
| Gross operating margin | 9900 | €44,582 | €28,714 | -€15,868 | -35.6% |
| Operating profit (loss) | 9901 | €11,586 | €19,457 | +€7,870 | +67.9% |
| Financial income | 75/76B | €4 | €0 | -€4 | -99.4% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -99.4% |
| Financial charges | 65/66B | €672 | €337 | -€335 | -49.9% |
| Recurring financial charges | 65 | €672 | €337 | -€335 | -49.9% |
| Profit (loss) for the period before taxes | 9903 | €10,918 | €19,120 | +€8,202 | +75.1% |
| Income taxes | 67/77 | €4,914 | €7,399 | +€2,486 | +50.6% |
| Profit (loss) for the period | 9904 | €6,004 | €11,720 | +€5,716 | +95.2% |
| Profit (loss) for the period to be appropriated | 9905 | €6,004 | €11,720 | +€5,716 | +95.2% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.