PANORAMA (0448.093.775): financials and annual accounts

PANORAMA

Oupeye ·KBO/BCE: BE 0448.093.775

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
Balance sheet: assets
Total assets`20/58`	220,896	217,947	207,236	225,318	254,096	234,241	203,593	186,290	173,408	154,174	149,683	143,085	129,584	131,595	132,613	127,716	139,065	134,454	111,446	78,350
Fixed assets`21/28`	348	348	348	348	348	348	348	348	348	348	520	813	591	712	1,695	2,376	3,722	4,060	1,849	2,153
Tangible fixed assets`22/27`	0	0	0	0	0	0	0	0	0	0	172	465	243	364	1,347	2,028	3,374	3,711	1,501	1,805
Land and buildings`22`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	401
Plant, machinery and equipment`23`	0	0	0	0	0	0	0	0	0	-	-	-	-	-	676	1,551	2,425	2,291	418	1,404
Furniture and vehicles`24`	0	0	0	0	0	0	0	0	0	0	172	465	243	364	671	477	949	1,420	1,083	-
Financial fixed assets`28`	348	348	348	348	348	348	348	348	348	348	348	348	348	348	348	348	348	348	348	348
Current assets`29/58`	220,548	217,599	206,888	224,970	253,748	233,892	203,245	185,942	173,060	153,825	149,163	142,272	128,993	130,883	130,918	125,339	135,343	130,394	109,597	76,197
Amounts receivable within one year`40/41`	216,384	216,481	203,927	219,832	251,996	225,192	201,709	181,730	164,841	150,963	139,126	134,543	120,683	116,419	117,813	109,009	105,260	99,516	80,034	65,095
Trade receivables`40`	17,987	15,055	14,326	13,372	41,663	15,567	12,053	14,405	14,060	11,183	12,161	13,284	10,619	12,507	13,526	9,055	10,368	13,050	9,667	8,449
Other amounts receivable`41`	198,397	201,426	189,601	206,460	210,334	209,625	189,656	167,325	150,781	139,779	126,965	121,260	110,064	103,912	104,287	99,954	94,892	86,466	70,368	56,647
Cash at bank and in hand`54/58`	2,456	1,118	2,961	3,510	311	6,514	-	998	6,887	1,115	9,132	5,087	6,905	14,330	12,726	16,331	30,083	30,878	29,562	11,101
Deferred charges and accrued income`490/1`	1,707	-	0	1,627	1,441	2,186	1,536	3,215	1,333	1,748	905	2,642	1,405	133	378	-	-	-	-	-
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	220,896	217,947	207,236	225,318	254,096	234,241	203,593	186,290	173,408	154,174	149,683	143,085	129,584	131,595	132,613	127,716	139,065	134,454	111,446	78,350
Equity`10/15`	188,733	180,804	188,334	198,302	217,891	210,444	183,394	168,777	158,238	146,356	135,993	124,841	112,265	112,076	102,040	106,106	122,124	121,165	92,412	65,104
Contributions`10/11`	18,592	18,592	18,592	18,592	18,592	18,592	18,592	18,592	18,592	18,592	18,592	18,592	18,592	18,592	18,592	18,592	18,592	18,592	18,592	18,592
Issued capital`100`	-	-	-	-	-	-	18,592	18,592	18,592	18,592	18,592	18,592	18,592	18,592	18,592	18,592	18,592	18,592	18,592	18,592
Contributions outside capital`11`	18,592	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other`1109/19`	18,592	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Reserves`13`	1,859	1,859	1,859	1,859	1,859	1,859	1,859	1,859	1,859	1,859	1,859	1,859	1,859	1,859	1,859	1,859	1,859	1,859	1,859	1,859
Non-distributable reserves`130/1`	1,859	1,859	1,859	1,859	1,859	1,859	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Legal reserve`130`	-	-	-	-	-	-	1,859	1,859	1,859	1,859	1,859	1,859	1,859	1,859	1,859	1,859	1,859	1,859	1,859	1,859
Reserves not available under the articles`1311`	1,859	1,859	1,859	1,859	1,859	1,859	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Profit (loss) carried forward`14`	168,282	160,352	167,883	177,850	197,440	189,993	162,943	148,325	137,786	125,905	115,542	104,390	91,814	91,625	81,589	85,654	101,673	100,714	71,961	44,652
Amounts payable`17/49`	32,163	37,144	18,902	27,016	36,205	23,797	20,199	17,514	15,171	7,817	13,690	18,245	17,319	19,519	30,572	21,610	16,941	13,289	19,033	13,247
Amounts payable within one year`42/48`	32,163	37,144	18,902	27,016	33,585	23,797	20,199	17,514	15,171	7,817	13,275	18,178	17,319	19,519	30,572	20,440	15,771	13,289	19,033	13,247
Financial debts`43`	-	-	-	-	-	-	1	-	-	-	-	-	-	-	-	-	-	-	-	-
Credit institutions`430/8`	-	-	-	-	-	-	1	-	-	-	-	-	-	-	-	-	-	-	-	-
Trade debts`44`	13,466	6,108	1,526	7,423	20,142	2,918	0	328	2,765	4,856	2,466	2,334	6,803	9,940	8,389	5,462	1,040	5,395	3,372	1,178
Suppliers`440/4`	13,466	6,108	1,526	7,423	20,142	2,918	-	328	2,765	4,856	2,466	2,334	6,803	9,940	8,389	5,462	1,040	5,395	3,372	1,178
Taxes, remuneration and social security`45`	18,697	26,579	17,376	19,593	13,443	20,879	20,198	17,186	12,406	2,962	10,809	15,844	10,515	9,579	22,183	14,978	14,731	7,894	15,662	12,068
Taxes`450/3`	3,698	10,366	5,132	5,755	9,853	15,140	7,886	7,518	11,427	2,962	7,743	8,611	3,678	4,553	11,691	6,652	7,456	1,748	13,805	11,165
Remuneration and social security`454/9`	14,999	16,213	12,244	13,838	3,590	5,739	12,312	9,668	979	0	3,067	7,233	6,838	5,026	10,492	8,325	7,275	6,146	1,857	903
Other amounts payable`47/48`	0	4,457	0	0	0	0	-	0	0	0	-	0	-	-	0	-	-	-	-	-
Accrued charges and deferred income`492/3`	-	-	-	0	2,620	-	-	0	-	0	415	67	-	-	-	1,170	1,170	-	-	-
Income statement
Turnover`70`	196,729	169,154	-	154,040	161,730	136,943	157,243	162,997	144,200	137,998	141,227	142,068	140,833	147,079	144,938	-	-	-	-	-
Non-recurring operating income`76A`	-	-	-	-	5,500	10,750	-	-	-	-	-	-	-	-	-	666	-	-	-	50
Gross operating margin`9900`	104,716	80,979	76,937	85,352	90,145	69,524	86,363	85,792	84,667	76,722	80,876	76,573	74,775	78,765	67,370	-22,957	-5,990	81,467	65,167	64,459
Goods, raw materials, services and sundry goods`60/61`	92,013	88,175	-	77,758	77,085	78,571	73,176	77,617	59,873	61,606	60,351	65,495	66,058	68,314	77,568	-	-	-	-	-
Remuneration, social security and pensions`62`	107,882	100,255	93,863	104,015	81,159	56,615	81,367	85,086	80,526	74,608	75,353	70,508	84,492	77,166	76,762	-	-	48,722	30,645	57,391
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	-	-	-	-	-	-	-	-	0	172	293	293	121	983	1,288	1,346	1,058	1,681	862	751
Other operating charges`640/8`	-	-	12	242	229	40	160	157	154	114	407	369	400	383	360	673	426	803	979	1,117
Operating profit (loss)`9901`	-3,166	-19,276	-16,938	-18,905	8,758	12,869	4,836	549	3,987	1,829	4,823	5,403	-10,239	232	-11,040	-24,976	-7,474	30,261	32,680	5,200
Financial income`75/76B`	11,096	11,850	7,371	-	0	19,023	14,706	13,559	12,204	11,782	9,736	10,180	10,539	9,954	8,429	8,575	8,609	8,354	6,279	4,366
Recurring financial income`75`	11,096	11,850	7,371	-	0	19,023	14,706	13,559	12,204	11,782	9,736	10,180	10,539	9,954	8,429	8,575	8,609	8,354	6,279	4,366
Financial charges`65/66B`	0	104	345	524	281	244	354	252	205	212	221	145	111	130	356	284	159	380	747	430
Recurring financial charges`65`	0	104	345	524	281	244	354	252	205	212	221	145	111	130	356	284	159	380	747	430
Profit (loss) for the period before taxes`9903`	7,930	-7,531	-9,912	-19,429	8,476	31,648	19,188	13,855	15,986	13,399	14,338	15,438	189	10,056	-2,967	-16,019	976	38,236	38,213	9,186
Income taxes`67/77`	-	-	56	161	1,029	4,598	4,570	3,316	4,104	3,036	3,186	2,863	-	20	1,098	-	17	9,483	10,904	2,581
Profit (loss) for the period`9904`	7,930	-7,531	-9,967	-19,590	7,448	27,050	14,618	10,539	11,881	10,363	11,152	12,576	189	10,035	-4,065	-16,019	959	28,753	27,309	6,605
Profit (loss) for the period to be appropriated`9905`	7,930	-7,531	-9,967	-19,590	7,448	27,050	14,618	10,539	11,881	10,363	11,152	12,576	189	10,035	-4,065	-16,019	959	28,753	27,309	6,605
Appropriation of the result
Profit (loss) to be appropriated`9906`	168,282	160,352	167,883	177,850	197,440	189,993	162,943	148,325	137,786	125,905	115,542	104,390	91,814	91,625	81,589	85,654	101,673	100,714	71,961	44,652
Profit (loss) brought forward from the previous period`14P`	160,352	167,883	177,850	197,440	189,993	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Social balance sheet
Average staff (FTE)`9087`	-	-	2	3	3	3	3	2.8	3	3	3	3.9	3.9	4.2	3.2	-	-	2.8	2	2.1
Hours worked`1013`	-	-	3,420	5,267	5,267	5,267	5,267	5,138	5,426	5,259	5,434	5,996	5,996	6,088	5,088	-	-	4,110	3,352	3,712
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Financial year	Type	Filed	Reference	Document
31-12-2025	full format	20-08-2026	2026-00419900	PDF
31-12-2024	micro format	21-09-2025	2025-00511303	PDF
31-12-2023	micro format	26-08-2024	2024-00380423	PDF
31-12-2022	micro format	30-08-2023	2023-00381904	PDF
31-12-2021	micro format	31-08-2022	2022-20398846	PDF
31-12-2020	micro format	23-09-2021	2021-68200317	PDF
31-12-2019	micro format	31-10-2020	2020-68500143	PDF
31-12-2018	micro format	30-08-2019	2019-61300272	PDF
31-12-2017	micro format	24-09-2018	2018-64300298	PDF
31-12-2016	micro format	31-08-2017	2017-58100498	PDF
31-12-2015	full format	30-08-2016	2016-52800106	PDF
31-12-2014	full format	31-08-2015	2015-55900028	PDF
31-12-2013	full format	18-08-2014	2014-43400160	PDF
31-12-2012	full format	26-08-2013	2013-46700219	PDF
31-12-2011	full format	31-08-2012	2012-54200313	PDF
31-12-2010	full format	30-08-2011	2011-48500353	PDF
31-12-2009	full format	31-08-2010	2010-51000105	PDF
31-12-2008	full format	31-08-2009	2009-74800318	PDF
31-12-2007	full format	31-08-2008	2008-72000361	PDF
31-12-2006	full format	02-11-2007	2007-79600166	PDF
31-12-2005	full format	31-08-2006	2006-77002832	PDF
31-12-2004	full format	30-11-2005	2005-88004934	PDF
31-12-2003	full format	07-07-2004	2004-42104621	PDF
31-12-2002	full format	11-07-2003	2003-40100008	PDF
31-12-2001	full format	10-10-2002	2002-64300194	PDF
31-12-2000	full format	19-10-2001	2001-65200054	PDF
31-12-1999	full format	15-06-2000	2000-21500242	PDF
31-12-1998	full format	02-07-1999	1999-26505119	PDF
31-12-1997	full format	30-06-1998	1998-24703559	PDF
31-12-1996	full format	24-06-1997	1997-18903295	PDF
31-12-1995	full format	24-06-1996	1996-20300341	PDF
31-12-1994	full format	30-06-1995	1995-32703676	PDF
31-12-1993	full format	17-06-1994	1994-16303441	PDF

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
EBITDA	-	-	-	-	-	-	-	-	3,987	2,001	5,116	5,696	-10,117	1,215	-9,752	-23,630	-6,416	31,943	33,543	5,951
Cash flow	-	-	-	-	-	-	-	-	11,881	10,535	11,445	12,869	310	11,018	-2,778	-14,672	2,017	30,434	28,171	7,356
Investment in fixed assets (approximation)	-	-	-	-	-	-	-	-	0	0	0	516	0	0	607	0	721	3,892	558	678
Change in cash	1,338	-1,843	-548	3,199	-6,203	-	-	-5,889	5,772	-8,017	4,045	-1,818	-7,426	1,604	-3,605	-13,752	-795	1,316	18,461	-
Working capital	188,385	180,455	187,986	197,953	220,163	210,095	183,046	168,428	157,889	146,008	135,888	124,094	111,674	111,364	100,345	104,899	119,572	117,105	90,563	62,950
EBIT margin	-1.6%	-11.4%	-	-12.3%	5.4%	9.4%	3.1%	0.3%	2.8%	1.3%	3.4%	3.8%	-7.3%	0.2%	-7.6%	-	-	-	-	-
Solvency	85.4%	83.0%	90.9%	88.0%	85.8%	89.8%	90.1%	90.6%	91.3%	94.9%	90.9%	87.2%	86.6%	85.2%	76.9%	83.1%	87.8%	90.1%	82.9%	83.1%
Current ratio	6.86	5.86	10.95	8.33	7.56	9.83	10.06	10.62	11.41	19.68	11.24	7.83	7.45	6.71	4.28	6.13	8.58	9.81	5.76	5.75
Debt to equity	0.17	0.21	0.10	0.14	0.17	0.11	0.11	0.10	0.10	0.05	0.10	0.15	0.15	0.17	0.30	0.20	0.14	0.11	0.21	0.20
ROE	4.2%	-4.2%	-5.3%	-9.9%	3.4%	12.9%	8.0%	6.2%	7.5%	7.1%	8.2%	10.1%	0.2%	9.0%	-4.0%	-15.1%	0.8%	23.7%	29.6%	10.1%
ROA	3.6%	-3.5%	-4.8%	-8.7%	2.9%	11.5%	7.2%	5.7%	6.9%	6.7%	7.5%	8.8%	0.1%	7.6%	-3.1%	-12.5%	0.7%	21.4%	24.5%	8.4%
Customer credit	33 days	32 days	-	32 days	94 days	41 days	28 days	32 days	36 days	30 days	31 days	34 days	28 days	31 days	34 days	-	-	-	-	-
Supplier credit	53 days	25 days	-	35 days	95 days	14 days	0 days	2 days	17 days	29 days	15 days	13 days	38 days	53 days	39 days	-	-	-	-	-

Item	31-12-2023	31-12-2022	31-12-2021
Employees at the balance-sheet date	3	3	3
full-time	3	3	3
in full-time equivalents	3	3	3
Average over the year, in full-time equivalents	2	3	3
On a permanent contract	2	2	2
Training hours	1,702	1,702	1,702

PANORAMA

Annual accounts 2025

Money flows

Balance sheet

Change in equityin euro

Change in cashin euro

Position in the sector

Solvency85.4%

Current ratio6.86

Return on assets3.6%

Staff

Staff cost per FTE

Joined and left

Filed annual accounts

Filings

Key figures and ratios

Social balance sheet

Insights on PANORAMA

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