PANOWAY
Annual accounts 2025
micro format, filed on 07-11-2025, 23 days before the deadlineTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €160,000. Estimated: probably between €96,000 and €290,000.
Balance sheet
balance sheet total €104,170 on 30-04-2025Change in equityin euro
Change in cashin euro
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| Balance sheet: assets | |||
Total assets20/58 |
104,170 | 67,261 | |
Fixed assets21/28 |
- | 742 | |
Tangible fixed assets22/27 |
- | 742 | |
Furniture and vehicles24 |
- | 742 | |
Current assets29/58 |
104,170 | 66,519 | |
Amounts receivable within one year40/41 |
12,742 | 16,564 | |
Other amounts receivable41 |
12,742 | 16,564 | |
Cash at bank and in hand54/58 |
89,880 | 49,361 | |
Deferred charges and accrued income490/1 |
1,548 | 595 | |
| Balance sheet: equity and liabilities | |||
Total equity and liabilities10/49 |
104,170 | 67,261 | |
Equity10/15 |
69,599 | 48,121 | |
Contributions10/11 |
2,000 | 2,000 | |
Reserves13 |
60,601 | 38,126 | |
Distributable reserves133 |
60,601 | 38,126 | |
Profit (loss) carried forward14 |
6,998 | 7,995 | |
Amounts payable17/49 |
34,571 | 19,140 | |
Amounts payable within one year42/48 |
34,559 | 19,127 | |
Trade debts44 |
1,689 | 2,857 | |
Suppliers440/4 |
1,689 | 2,857 | |
Taxes, remuneration and social security45 |
24,870 | 16,270 | |
Taxes450/3 |
24,870 | 16,270 | |
Other amounts payable47/48 |
8,000 | - | |
Accrued charges and deferred income492/3 |
13 | 13 | |
| Income statement | |||
Gross operating margin9900 |
39,504 | 52,823 | |
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 |
- | 187 | |
Other operating charges640/8 |
437 | 384 | |
Operating profit (loss)9901 |
39,067 | 52,252 | |
Financial income75/76B |
953 | 595 | |
Recurring financial income75 |
953 | 595 | |
Financial charges65/66B |
235 | 295 | |
Recurring financial charges65 |
235 | 295 | |
Profit (loss) for the period before taxes9903 |
39,785 | 52,551 | |
Income taxes67/77 |
10,308 | 14,425 | |
Profit (loss) for the period9904 |
29,478 | 38,126 | |
Profit (loss) for the period to be appropriated9905 |
29,478 | 38,126 | |
| Appropriation of the result | |||
Profit (loss) to be appropriated9906 |
37,473 | 46,121 | |
Profit (loss) brought forward from the previous period14P |
7,995 | 7,995 | |
Transfer to equity691/2 |
22,475 | 38,126 | |
To other reserves6921 |
22,475 | 38,126 | |
Profit to be distributed694/7 |
8,000 | - | |
Return on contributions (dividend)694 |
8,000 | - | |
| Document | |||
The notes to these accounts have 4 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2025 at the NBB, filed on 07-11-2025.
Filings
each dot is a set of accounts, on the day it reached the National BankKey figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| EBITDA | - | 52,439 | |
| Cash flow | - | 38,313 | |
| Investment in fixed assets | - | 929 | |
| Change in cash | 40,520 | - | |
| Working capital | 69,612 | 47,392 | |
| Solvency | 66.8% | 71.5% | |
| Current ratio | 3.01 | 3.48 | |
| Debt to equity | 0.50 | 0.40 | |
| ROE | 42.4% | 79.2% | |
| ROA | 28.3% | 56.7% | |
| Interest coverage | - | over 100 |
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
Investments
fixed assets acquired| Item | 30-04-2025 | 30-04-2024 |
|---|---|---|
| Tangible fixed assets | - | €929 |
| Depreciation and write-downs of the year | - | €187 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
Insights on PANOWAY
The operating result for 2025 is 25% lower than in 2024.
Debt's share of the balance-sheet total rises from 28.5% to 33.2%. Equity and debt are higher.