PANORAMA

Active

Private limited company (pre-2019)founded 20188 yrs activeDriezenstraat 34, 2300 Turnhout, BelgiumKBO/BCE: BE 0690.885.270

PANORAMA has been active since 2018 and the Belgian State Gazette contains no insolvency or warning signals. The 2024 annual accounts show negative equity (€-155k) and a net result of €-58k. The figures fluctuate too strongly year-on-year for a reliable trend projection. Its solvency ranks better than 9% of 2464 sector peers (fiscal year 2024). The computed 12-month bankruptcy probability is 0.6% (low).

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Checked score

Score 2024

29 / 100

Weak

The score weighs solvency, liquidity and profitability. Bankruptcy probability contributes 35%. Every signal that weighs is under Signals.

Axes · tick = 2023

Profitability0=

Solvency0=

Growth32=

Track record100

Bankruptcy probability, 12 months

0.6% Low

0%0.5%1.5%4%10%≥ 25%

No credit on open account

Liquidity short (current ratio 0.1 against 0.08 in 2023; short-term debt: 181.8% and cash: 5.5% of total assets), and equity is negative.

How do we compute the score and the probability?

Credit advice for your own amount and term

Signals

Six signals. The signal on the left, the evidence on the right.

−lowers risk+raises risk○neutral

Lower-failure-rate sector

In this sector companies fail less often than the Belgian average.

Gazette · bankruptcies per sector, NACE 90

Relative position

BE, all sectors

reference

Sector 90

lower

← fewer bankruptcies more bankruptcies →

Annual accounts: weaker financial profile

The latest annual accounts show a weaker profile in solvency, result or liquidity than companies that stay afloat.

NBB · annual accounts 2024

Solvency, return and age of the figures

Solvency

-97.8%

Return on assets

-36.5%

Age of the figures

21 mo

Limited track record

This company has not been active as long as an established one and statistically fails somewhat more often.

KBO · incorporation date

Age against the risk zone

Negative equity

The 2024 annual accounts show negative equity and a net loss.

NBB · annual accounts 2024

Equity per financial year

18192021222324

2018 to 2024 · latest year €-155k

Filed more than 90 days late

The financial year that closed on 31-12-2024 was due by 31-07-2025 and was filed on 17-08-2026, 382 days past the deadline. Measured on financial year 2023: companies more than 90 days late are in an abnormal legal state today in 5.61% of cases, against 1.66% across all filers.

NBB · 7 filings

Deviation from the deadline

2025

not confirmed

2024

382 d late

2023

92 d late

2022

5 d early

2021

34 d early

2020

29 d early

2019

29 d early

← before the deadline after the deadline →

No strike-offs in the KBO publications

We found no ex-officio strike-off or cessation. Our series starts in 2021 and has gaps, so this is not a confirmation that there is nothing.

KBO publications · our coverage

Financials · fiscal year 2024, micro schema

Equity

€-155k▼ 59.4%

2023 · €-97k

2018: €31k 2019: €38k 2020: €75k 2021: €83k 2022: €74k 2023: €-97k

2018 → 2024

Total assets

€159k▼ 16.0%

2023 · €189k

2018: €55k 2019: €122k 2020: €142k 2021: €113k 2022: €101k 2023: €189k

2018 → 2024

Net result

€-58k▲ 66.3%

2023 · €-171k

2018: €13k 2019: €7k 2020: €36k 2021: €8k 2022: €-9k 2023: €-171k

2018 → 2024

Working capital

€-259k▼ 31.3%

2023 · €-197k

2018: €27k 2019: €-5k 2020: €33k 2021: €12k 2022: €38k 2023: €-197k

2018 → 2024

Multi-year overview

Every figure with its change against the year before

▲ rise ▼ fall

Line20202021202220232024Trend

Equity€75k-€83k▲ 11.1%€74k▼ 10.4%€-97k€-155k▼ 59.4%

Operating result€47k-€11k▼ 76.3%€-7k€-154k▼ 2,050%€-49k▲ 67.9%

Net result€36k-€8k▼ 77.2%€-9k€-171k▼ 1,889%€-58k▲ 66.3%

Turnover and EBIT margin not published: the micro schema does not require them.

Result per fiscal year

Operating resultNet result

The operating result stays negative: a loss of €49k in 2024 against €154k in 2023; the loss shrinks.

Balance-sheet composition

2024 in colour, 2023 as the grey bar beneath

Assets €159k

81.5%

18.5%

Fixed assets €129k▼ 24.4%

Current assets €29k▲ 64.1%

Key figures and ratios

2024 value · change against 2023

EBITDA

€-8k▲

2023 · €-88k

Cash flow

€-16k▲

2023 · €-106k

Solvency

-97.8%▼

2023 · -51.5%

Current ratio

0.10▲

2023 · 0.08

Quick ratio

0.10▲

2023 · 0.08

Debt / equity

-2.02▲

2023 · -2.94

ROA

-36.5%▲

2023 · -90.8%

Interest coverage

-0.92▲

2023 · -5.04

Debt

€314k▲

2023 · €286k

Debt ≤ 1 year

€288k▲

2023 · €215k

Debt > 1 year

€25k▼

2023 · €71k

Staff costs

€91k▼

2023 · €174k

Green means a favourable move, even when the figure itself falls: as with debt or debt / equity.

Filed annual accounts

As filed with the NBB · 2024 against 2023

Balance sheet Code20232024

Assets

Total assets20/58€189k€159k▼

Fixed assets21/28€171k€129k▼

Tangible fixed assets22/27€167k€125k▼

Plant, machinery and equipment23€167k€125k▼

Financial fixed assets28€4k€4k=

Current assets29/58€18k€29k▲

Amounts receivable within one year40/41€15k€21k▲

Trade receivables40€3k€4k▲

Other amounts receivable41€12k€17k▲

Cash at bank and in hand54/58€3k€9k▲

Equity and liabilities

Total equity and liabilities10/49€189k€159k▼

Equity10/15€-97k€-155k▼

Contributions10/11€20k€19k▼

Reserves13€62k€64k▲

Distributable reserves133€62k€64k▲

Profit (loss) carried forward14€-180k€-238k▼

Amounts payable17/49€286k€314k▲

Amounts payable after more than one year17€71k€25k▼

Financial debts170/4€71k€25k▼

Amounts payable within one year42/48€215k€288k▲

Current portion of amounts payable after more than one year42€51k€49k▼

Financial debts43€34k€33k▼

Credit institutions430/8€34k€33k▼

Trade debts44€40k€60k▲

Suppliers440/4€40k€60k▲

Taxes, remuneration and social security45€27k€32k▲

Taxes450/3€13k€29k▲

Remuneration and social security454/9€14k€4k▼

Other amounts payable47/48€63k€114k▲

Income statement Code20232024

Remuneration, social security and pensions62€174k€91k▼

Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€66k€42k▼

Other operating charges640/8€2k€664▼

Gross operating margin9900€87k€84k▼

Operating profit (loss)9901€-154k€-49k▲

Financial charges65/66B€17k€8k▼

Recurring financial charges65€17k€8k▼

Profit (loss) for the period before taxes9903€-171k€-58k▲

Profit (loss) for the period9904€-171k€-58k▲

Profit (loss) for the period to be appropriated9905€-171k€-58k▲

Appropriation of the result

Profit (loss) to be appropriated9906€-180k€-238k▼

Profit (loss) brought forward from the previous period14P€-9k€-180k▼

The notes to these accounts (7 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.

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Timeline · acts, filings and financial milestones

All 11Financial 3Gazette 1Filings 7

2026

17-08

NBB filing Annual accounts filed

fiscal year 2024 · micro schema · 382 days late

27-03

State Gazette act Registered office

Board meeting · Registered-office move · Power of attorney4 facts ▸

Board meeting, 05/03/2025
Registered-office move, Driezenstraat 34, 2300 Turnhout
Power of attorney, BV HB Accountants
Permanent representative, Bart Huybrechts

2024

31-10

NBB filing Annual accounts filed

fiscal year 2023 · micro schema · 92 days late

2023

31-12

Financial Weakest financial yearnet €-171k

Net result drops to €-171k, the lowest in the series; recovery starts the following year.

26-07

NBB filing Annual accounts filed

fiscal year 2022 · micro schema

2022

31-12

Financial Liquidity doublescurrent ratio 3.29

Current ratio from 1.43 to 3.29; short-term debt falls from €29k to €17k.

27-06

NBB filing Annual accounts filed

fiscal year 2021 · micro schema

2021

02-07

NBB filing Annual accounts filed

fiscal year 2020 · micro schema

2020

31-12

Financial Highest result since 2018net €36k ▲427%

Operating result €47k, net result €36k, both a record.

02-07

NBB filing Annual accounts filed

fiscal year 2019 · micro schema

2019

08-07

NBB filing Annual accounts filed

fiscal year 2018 · micro schema

Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.

Directors · office · real estate

Directors

no sitting director, no change since 2021

We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.

01-07-2021 Mathias Baeten: Resigned as Director

01-07-2021 Philippe Boermans: Resigned as Director

Location & real-estate footprint

Registered office, Turnhout · 1 establishment unit since 2023

establishment The establishment unit on the map

Cannot be placed on the map

This address could not be matched to a point in the Belgian address register (BOSA BEST). The address below comes straight from the Crossroads Bank.

Driezenstraat 342300 Turnhout

Ground area

1,493 m²

Building footprint

298 m²