Summary
PANORAMA B2B is a financial institution; the bankruptcy model is trained on trading and manufacturing companies and does not apply here. The 2025 annual accounts show equity of €1.62M and a net result of €563k. Equity is growing by ~12.4% per year across the filed fiscal years. Its solvency ranks better than 76% of 5547 sector peers (fiscal year 2025). The company has been active since 2022 and the Belgian State Gazette contains no insolvency or warning signals.
Checked score
Outside the general model
Model not applicable to financial institutions
The health score weighs liquidity, leverage and margins against norms for trading and manufacturing companies. A bank, insurer or financial holding has a fundamentally different balance-sheet structure, so those ratios, and hence the score, carry no meaning here. That is why we show no financial axes either.
Credit check for your own amount and term
Signals
1 signal. The signal on the left, the evidence on the right.
○neutral
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 21-05-2026, 71 days ahead of the deadline.
NBB · 4 filingsDeviation from the deadline
2025
71 d early
2024
34 d early
2023
15 d early
2022
45 d early
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€1.62M▲ 20.1%
2024 · €1.35M
2022: €1.11Mlowest in 4 years
2023: €1.23M▲ +11.3% vs 2022
2024: €1.35M▲ +9.3% vs 2023
2025: €1.62M▲ +20.1% vs 2024highest in 4 years
2022 → 2025
Net result
€563k▼ 28.6%
2024 · €789k
2022: €385k
2023: €326k▼ -15.5% vs 2022lowest in 4 years
2024: €789k▲ +142% vs 2023highest in 4 years
2025: €563k▼ -28.6% vs 2024
2022 → 2025
Total assets
€2.01M▼ 26.7%
2024 · €2.74M
2022: €2.00Mlowest in 4 years
2023: €2.21M▲ +10.2% vs 2022
2024: €2.74M▲ +24.0% vs 2023highest in 4 years
2025: €2.01M▼ -26.7% vs 2024
2022 → 2025
Solvency
80.5%▲ 31.4pp
2024 · 49.2%
2022: 55.2%
2023: 55.8%▲ +1.0% vs 2022
2024: 49.2%▼ -11.9% vs 2023lowest in 4 years
2025: 80.5%▲ +63.8% vs 2024highest in 4 years
2022 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line2022202320242025Trend
Equity€1.11M-€1.23M▲ 11.3%€1.35M▲ 9.3%€1.62M▲ 20.1%
2022: €1.11Mlowest in 4 years
2023: €1.23M▲ +11.3% vs 2022
2024: €1.35M▲ +9.3% vs 2023
2025: €1.62M▲ +20.1% vs 2024highest in 4 years
Operating result€361k-€372k▲ 3.2%€794k▲ 113%€800k▲ 0.8%
2022: €361klowest in 4 years
2023: €372k▲ +3.2% vs 2022
2024: €794k▲ +113% vs 2023
2025: €800k▲ +0.8% vs 2024highest in 4 years
Net result€385k-€326k▼ 15.5%€789k▲ 142%€563k▼ 28.6%
2022: €385k
2023: €326k▼ -15.5% vs 2022lowest in 4 years
2024: €789k▲ +142% vs 2023highest in 4 years
2025: €563k▼ -28.6% vs 2024
Turnover and EBIT margin not published: the abbreviated schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result has risen three years in a row; 2025 is 1% above 2024 and is the highest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.01M
Fixed assets
€551k ▼ 2.0%
Current assets
€1.46M ▼ 33.1%
Equity and liabilities €2.01M
Equity
€1.62M ▲ 20.1%
Debt
€391k ▼ 71.9%
Debt's share of the balance-sheet total falls from 50.8% to 19.5%. Equity is higher and debt is lower.
Key figures and ratios
ROE
34.8%▼
2024 · 58.6%
ROA
28.0%▼
2024 · 28.8%
Debt ≤ 1 year
€391k▼
2024 · €1.39M
Income taxes
€262k▲
2024 · €36k
Staff costs
€175k▲
2024 · €152k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 49 lines
Balance sheet
Code20242025
Assets
Total assets20/58€2.74M€2.01M▼
Fixed assets21/28€563k€551k▼
Tangible fixed assets22/27€170k€159k▼
Land and buildings22€3k€3k▼
Plant, machinery and equipment23€8k€5k▼
Furniture and vehicles24€159k€151k▼
Financial fixed assets28€392k€392k=
Current assets29/58€2.18M€1.46M▼
Amounts receivable within one year40/41€1.56M€739k▼
Trade receivables40€1.01M€690k▼
Other amounts receivable41€557k€48k▼
Current investments50/53€400k€0▼
Cash at bank and in hand54/58€193k€719k▲
Deferred charges and accrued income490/1€20k€0▼
Equity and liabilities
Total equity and liabilities10/49€2.74M€2.01M▼
Equity10/15€1.35M€1.62M▲
Contributions10/11€7k€7k=
Reserves13€1.34M€1.61M▲
Distributable reserves133€1.34M€1.61M▲
Profit (loss) carried forward14€0€0=
Amounts payable17/49€1.39M€391k▼
Amounts payable within one year42/48€1.39M€391k▼
Trade debts44€688k€252k▼
Suppliers440/4€688k€252k▼
Taxes, remuneration and social security45€30k€31k▲
Taxes450/3€25k€21k▼
Remuneration and social security454/9€5k€10k▲
Other amounts payable47/48€675k€107k▼
Income statement
Code20242025
Remuneration, social security and pensions62€152k€175k▲
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€36k€49k▲
Other operating charges640/8€9k€3k▼
Gross operating margin9900€991k€1.03M▲
Operating profit (loss)9901€794k€800k▲
Financial income75/76B€31k€32k▲
Recurring financial income75€31k€32k▲
Financial charges65/66B€246€7k▲
Recurring financial charges65€246€7k▲
Profit (loss) for the period before taxes9903€825k€825k▲
Income taxes67/77€36k€262k▲
Profit (loss) for the period9904€789k€563k▼
Profit (loss) for the period to be appropriated9905€789k€563k▼
Appropriation of the result
Profit (loss) to be appropriated9906€789k€563k▼
Transfer from equity791/2-€292k
Transfer to equity691/2€114k€563k▲
To other reserves6921€114k€563k▲
Profit to be distributed694/7€675k€292k▼
Return on contributions (dividend)694-€292k
Directors or managers695€675k€0▼
Social balance
Average headcount (FTE)90872.33.1▲
The notes to these accounts (8 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | €9k | €0 | - | - | - |
| Remuneration, social security and pensions62 | €66k | €123k | €152k | €175k | ▲ 15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €12k | €20k | €36k | €49k | ▲ 37.2% |
| Other operating charges640/8 | €2k | €2k | €9k | €3k | ▼ 65.8% |
| Gross operating margin9900 | €441k | €518k | €991k | €1.03M | ▲ 3.6% |
| Operating profit (loss)9901 | €361k | €372k | €794k | €800k | ▲ 0.8% |
| Financial income75/76B | €82k | €7k | €31k | €32k | ▲ 3.7% |
| Recurring financial income75 | €82k | €7k | €31k | €32k | ▲ 3.7% |
| Financial charges65/66B | €443 | €88 | €246 | €7k | ▲ 2,648% |
| Recurring financial charges65 | €443 | €88 | €246 | €7k | ▲ 2,648% |
| Profit (loss) for the period before taxes9903 | €442k | €380k | €825k | €825k | ▲ 0.1% |
| Income taxes67/77 | €57k | €54k | €36k | €262k | ▲ 637% |
| Profit (loss) for the period9904 | €385k | €326k | €789k | €563k | ▼ 28.6% |
| Profit (loss) for the period to be appropriated9905 | €385k | €326k | €789k | €563k | ▼ 28.6% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €2.00M | €2.21M | €2.74M | €2.01M | ▼ 26.7% |
| Fixed assets21/28 | €476k | €490k | €563k | €551k | ▼ 2.0% |
| Tangible fixed assets22/27 | €84k | €98k | €170k | €159k | ▼ 6.7% |
| Land and buildings22 | €4k | €4k | €3k | €3k | ▼ 13.0% |
| Plant, machinery and equipment23 | €6k | €6k | €8k | €5k | ▼ 41.8% |
| Furniture and vehicles24 | €73k | €88k | €159k | €151k | ▼ 4.7% |
| Financial fixed assets28 | €392k | €392k | €392k | €392k | = |
| Current assets29/58 | €1.53M | €1.72M | €2.18M | €1.46M | ▼ 33.1% |
| Amounts receivable within one year40/41 | €622k | €806k | €1.56M | €739k | ▼ 52.8% |
| Trade receivables40 | €448k | €559k | €1.01M | €690k | ▼ 31.4% |
| Other amounts receivable41 | €174k | €247k | €557k | €48k | ▼ 91.3% |
| Current investments50/53 | - | €800k | €400k | €0 | ▼ 100% |
| Cash at bank and in hand54/58 | €900k | €103k | €193k | €719k | ▲ 272% |
| Deferred charges and accrued income490/1 | €7k | €11k | €20k | €0 | ▼ 100% |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €2.00M | €2.21M | €2.74M | €2.01M | ▼ 26.7% |
| Equity10/15 | €1.11M | €1.23M | €1.35M | €1.62M | ▲ 20.1% |
| Contributions10/11 | €7k | €7k | €7k | €7k | = |
| Reserves13 | €1.10M | €1.23M | €1.34M | €1.61M | ▲ 20.2% |
| Distributable reserves133 | €1.10M | €1.23M | €1.34M | €1.61M | ▲ 20.2% |
| Profit (loss) carried forward14 | - | €0 | €0 | €0 | - |
| Amounts payable17/49 | €897k | €976k | €1.39M | €391k | ▼ 71.9% |
| Amounts payable within one year42/48 | €897k | €976k | €1.39M | €391k | ▼ 71.9% |
| Trade debts44 | €545k | €753k | €688k | €252k | ▼ 63.3% |
| Suppliers440/4 | €545k | €753k | €688k | €252k | ▼ 63.3% |
| Taxes, remuneration and social security45 | €91k | €24k | €30k | €31k | ▲ 5.3% |
| Taxes450/3 | €88k | €13k | €25k | €21k | ▼ 15.2% |
| Remuneration and social security454/9 | €4k | €11k | €5k | €10k | ▲ 109% |
| Other amounts payable47/48 | €261k | €200k | €675k | €107k | ▼ 84.2% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €385k | €326k | €789k | €563k | ▼ 28.6% |
| + Depreciation and write-downs630 | €12k | €20k | €36k | €49k | ▲ 37.2% |
| Operating cash flow (approximation) | €398k | €346k | €825k | €613k | ▼ 25.8% |
| Investment in fixed assets (approximation) | - | €-34k | €-109k | €-38k | ▲ 65.0% |
| Change in cash | - | €-798k | €90k | €526k | ▲ 481% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
21-05
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
2025
31-12
Financial
Liquidity doublescurrent ratio 3.73
Current ratio from 1.56 to 3.73; short-term debt falls from €1.39M to €391k.
27-06
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema
2024
31-12
Financial
Highest result since 2022net €789k ▲142%
Net result €789k, the highest in the series.
16-07
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema
2023
31-12
Financial
Weakest financial yearnet €326k ▼15.5%
Net result drops to €326k, the lowest in the series; recovery starts the following year.
16-06
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema
Financial milestoneNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
0 of 3 acts read
About the unread acts
We know of 3 Belgian State Gazette acts for this company. None of them has been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
3 acts for this company are in the Belgian State Gazette, of which we have read 0. We have therefore not extracted its directors from those acts yet.
Location & real-estate footprint
Registered office, Brugge · 1 establishment unit since 2022
Ground area
1,650 m²
Building footprint
436 m²
Volume, LiDAR
784 m³
Parcel 31030A0810/00A000, Flanders · tallest building 9.8 m. Linked by address, not a title deed.
9
companies at this address
See who is registered here
1 establishment unit
PANORAMA B2B
since 20222.334.168.309
1 parcel
Flanders
1
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 31030A0810/00A000 | Flanders | 1,650 m² | 1 · 436 m² | 9.8 m |
Linked by address, not proof of ownership
Good to know
1 of 1 parcel with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Public money · subsidies and aid
Flemish government
2022 to 2025 · 3 entries · 2,501 EUR awarded · 2,501 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 1,380 EUR | 1,380 EUR |
| 2024 | 1 | 161 EUR | 161 EUR |
| 2022 | 1 | 960 EUR | 960 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)
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Of 24,727 companies in sector 64210 we hold annual accounts for 19,768. 11,533 are within a factor 10 of this equity. The 5 above are the closest to it. See the whole sector
Identification & contact
Identification
Legal formPrivate limited company
Founded07-07-2022
Fiscal year end31-12
Activities, NACEBEL 2025
64210Activities of holding companies
68321Property management for co-owned buildings (syndics)
Scores and ratios are computed by Checked and are not a credit decision.