Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Tight liquidity NBB
Cash and receivables cover 58 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
Puzzle Express from Sint-Pieters-Leeuw, company number BE0700219541, closed financial year 2025 with a result of € 7,994 after tax. For that financial year Puzzle Express recorded a gross margin of € 293,281 and equity of € 47,429. Compared with financial year 2024, the result moved from € 20,530 to € 7,994. The company is profitable. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on February 3, 2026.
€ 47,429
▲ 20% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 7,994
▼ 61% vs 2024
Profit after tax over the fiscal year.
€ 133,552
▲ 11% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -71.
People and assets in 2025
€ 172,986
▲ 10% vs 2024
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 5,889
▲ € 5,122 vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 271,594
▼ 22% vs 2024
€ 37,037 is repaid this year. At this pace the long-term loan is gone in ≈ 7 years.
€ 331,365
▼ 22% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 21,749
▼ 19% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 127,966 | € 150,534 | € 305,870 | € 293,281 | ▼ 4% |
| Profit after taxes | € -43,691 | € -50,729 | € 20,530 | € 7,994 | ▼ 61% |
| Equity | € 69,635 | € 18,906 | € 39,435 | € 47,429 | ▲ 20% |
| Total debts | € 271,393 | € 766,499 | € 799,461 | € 629,472 | ▼ 21% |
| Cash | € 41,172 | € 178,396 | € 119,963 | € 133,552 | ▲ 11% |
| Retained profit | € 22,135 | € -28,594 | € -8,065 | € -71 | ▲ € 7,994 |
| Bank debt | € 115,798 | € 345,778 | € 350,095 | € 271,594 | ▼ 22% |
| Balance sheet total | € 341,028 | € 785,405 | € 838,896 | € 676,902 | ▼ 19% |
Key figures of Puzzle Express, 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 January 2027.
What happened to Puzzle Express?
What happened at Puzzle Express in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 7,994 (▼ 61% vs 2024). filed late Source: NBB ↗
- New establishment in Sint-Pieters-Leeuw. KBO
- Start of the company according to the CBE. KBO
In short
From € 43,691 loss in 2022 to € 7,994 profit in 2025.
Paid € 4,405 in corporate taxes since 2022.
Best year ever: 2024, with € 20,530 profit.
A new publication or filing at Puzzle Express? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
Directors
According to the 2025 annual accounts
Adam Karimi
Director
Establishments
Establishment units
Physical locations of this company
Joseph Depauwstraat 28
1600 Sint-Pieters-Leeuw
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0700.219.541
- VAT number
- BE 0700.219.541
- Registered office
- Joseph Depauwstraat 28, 1600 Sint-Pieters-Leeuw
- Names & denominations
- Puzzle Express
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 18 July 2018
- Peppol
- Active · Active since 23 Feb 2026
- Activities · NACE
Niet-gespecialiseerde detailhandel waarbij voedings- en genotmiddelen overheersen
Detailhandel in niet-gespecialiseerde winkels waarbij voedings- en genotmiddelen overheersen (verkoopsoppervlakte tussen 100 m² en minder dan 400 m²)
Detailhandel in niet-gespecialiseerde winkels waarbij voedings- en genotmiddelen overheersen (verkoopsoppervlakte = 2500 m²)