Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Negative equity NBB
More debt than assets in 4 of the last 4 fiscal years.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Tight liquidity NBB
Cash and receivables cover 52 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
PUZZLE from Ittre, company number BE0464759860, closed financial year 2025 with a result of € -421 after tax. For that financial year PUZZLE recorded a gross margin of € -178 and equity of € -33,781. Compared with financial year 2024, the result moved from € -120 to € -421. The company made a loss. More debts than assets. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on December 5, 2025.
€ -33,781
▼ € 421 vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -421
▼ 251 % more loss than in 2024
Profit after tax over the fiscal year.
€ 7
▼ 65% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -52,373.
People and assets in 2025
≈ 1
No payroll staff. One director, so that person most likely runs the business.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 268
▲ 150% vs 2024
Supplier invoices still open on the last day of the fiscal year.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -751 | - | € 128 | € -178 | ▼ € 305 |
| Profit after taxes | € -1,390 | € 2,047 | € -120 | € -421 | ▼ € 301 |
| Equity | € -35,288 | € -33,241 | € -33,360 | € -33,781 | ▼ € 421 |
| Total debts | € 33,965 | € 34,020 | € 34,048 | € 34,308 | ▲ 1% |
| Cash | - | € 6 | € 21 | € 7 | ▼ 65% |
| Retained profit | € -53,880 | € -51,833 | € -51,952 | € -52,373 | ▼ € 421 |
| Balance sheet total | € 8,677 | € 779 | € 688 | € 527 | ▼ 23% |
Key figures of PUZZLE, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 April 2027.
What happened to PUZZLE?
What happened at PUZZLE in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 421. Source: NBB ↗
- New establishment in Ittre. KBO
- Jerôme FELLER became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 1,390 loss in 2022 to € 421 loss in 2025.
Paid € 54 in corporate taxes since 2022.
Best year ever: 2023, with € 2,047 profit.
Management
Behind PUZZLE is Jerôme FELLER.
Directors
According to the 2025 annual accounts
Jerôme FELLER
Director
since 1998
Establishments
Establishment units
Physical locations of this company
Rue Basse 21
1460 Ittre
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0464.759.860
- VAT number
- BE 0464.759.860
- Registered office
- Rue Basse 21, 1460 Ittre
- Names & denominations
- PUZZLE
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 8 December 1998
- Peppol
- Active · Active since 21 Oct 2026
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