  We present results obtained from the time-resolved X-ray spectral analysis of
the Narrow-Line-Seyfert 1 galaxy SWIFT J2127.4+5654 during a ~130 ks XMM-Newton
observation. We reveal large spectral variations, especially during the first
~90 ks of the XMM-Newton exposure. The spectral variability can be attributed
to a partial eclipse of the X-ray source by an intervening low-ionization/cold
absorbing structure (cloud) with column density N_H = 2.0^{+0.2}_{-0.3}e22
cm^-2 which gradually covers and then uncovers the X-ray emitting region with
covering fraction ranging from zero to ~43 per cent. Our analysis enables us to
constrain the size, number density, and location of the absorbing cloud with
good accuracy. We infer a cloud size (diameter) of $D_c < 1.5e13 cm,
corresponding to a density of n_c > 1.5e9 cm^-3 at a distance of R_c > 4.3e16
cm from the central black hole. All of the inferred quantities concur to
identify the absorbing structure with one single cloud associated with the
broad line region of SWIFT J2127.4+5654. We are also able to constrain the
X-ray emitting region size (diameter) to be D_s < 2.3e13 cm which, assuming the
black hole mass estimated from single-epoch optical spectroscopy (1.5e7 M_sun),
translates into D_s < 10.5 gravitational radii (r_g) with larger sizes (in r_g)
being associated with smaller black hole masses, and viceversa. We also confirm
the presence of a relativistically distorted reflection component off the inner
accretion disc giving rise to a broad relativistic Fe K emission line and small
soft excess (small because of the high Galactic column density), supporting the
measurement of an intermediate black hole spin in SWIFT J2127.4+5654 that was
obtained from a previous Suzaku observation.
