ACTIVE

PANA

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Financial year 2025 · closed on 31/12/2025

Net result

4,9 k €

-95.2% YoY

Gross margin

209,6 k €

-30.9% YoY

Equity

1,7 M €

+0.3% YoY

What does PANA do?

PANA is a Private limited company incorporated in 1986. Its main activity is: Rental and operating of own or leased real estate. Its registered office is in Oudenaarde.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0429.216.189

Incorporation

20/06/1986

Legal form

Private limited company

Registered office

Berchemweg 301
9700 Oudenaarde · FlandreSee on map

Contributed capital

1 429 600,00 €

Latest accounts

31/12/2025

Activities (NACE)

68201Rental and operating of own or leased real estate· main 68203Rental and operating of own or leased real estate

Signals

ProfitablePositive cashflowPositive EBITDA

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 19 financial years

	2025		2024		2023		2022		2021		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Gross margin	209,6 k €	-30.9%	303,4 k €	+98.3%	153 k €	-51.8%	317,5 k €	+204%	104,4 k €	-5.1%	110 k €	+25.4%	87,7 k €	+6.0%	82,8 k €	-17.7%	100,6 k €	+180%	35,9 k €	-73.0%	133 k €	-31.7%	194,8 k €	-25.0%	259,8 k €	+18.3%	219,6 k €	+16.8%	188 k €	+9.3%	172 k €	-56.1%	392,1 k €	-2.1%	400,7 k €	+154%	157,7 k €
EBITDA	184,3 k €	-19.1%	227,9 k €	+135%	96,8 k €	-66.2%	286,6 k €	+248%	82,4 k €	-4.5%	86,3 k €	+35.2%	63,9 k €	-12.4%	72,9 k €	-19.2%	90,2 k €	+234%	-67,5 k €	+19.6%	-84,1 k €	-146%	183,2 k €	-25.7%	246,5 k €	+18.2%	208,5 k €	+17.6%	177,4 k €	+801%	-25,3 k €	-107%	381,7 k €	+2.1%	373,9 k €	+148%	150,6 k €
Operating result	23 k €	-85.2%	155,1 k €	+4761%	3,2 k €	-98.5%	206,4 k €	+448%	-59,4 k €	-271%	-16 k €	+62.6%	-42,7 k €	-38.6%	-30,8 k €	-87.4%	-16,4 k €	+90.7%	-176,3 k €	-2.4%	-172,2 k €	-491%	44 k €	-69.5%	144,4 k €	+666%	-25,5 k €	-199%	25,7 k €	+113%	-197,6 k €	-169%	286,7 k €	+41.8%	202,2 k €	+117%	93 k €
Net result	4,9 k €	-95.2%	103 k €	+328%	-45,2 k €	-122%	205,4 k €	+406%	-67,2 k €	-249%	45,2 k €	-1.6%	45,9 k €	-20.7%	57,9 k €	-25.7%	78 k €	+154%	-144,2 k €	-258%	91,4 k €	+72.9%	52,9 k €	-49.0%	103,7 k €	+243%	-72,4 k €	-272%	-19,5 k €	+91.7%	-234,2 k €	-221%	194,1 k €	-57.1%	451,8 k €	+556%	68,9 k €
Balance sheet
Equity	1,7 M €	+0.3%	1,7 M €	+6.3%	1,6 M €	-2.7%	1,7 M €	+13.9%	1,5 M €	-23.3%	1,9 M €	+2.4%	1,9 M €	+2.5%	1,8 M €	+16.3%	1,6 M €	+5.2%	1,5 M €	-8.8%	1,6 M €	-4.8%	1,7 M €	+2.3%	1,7 M €	+14.5%	1,5 M €	+55.6%	948,3 k €	-2.0%	967,8 k €	+28.8%	751,5 k €	+34.8%	557,5 k €	+427%	105,7 k €
Total assets	10,2 M €	+128%	4,5 M €	-7.3%	4,8 M €	+4.5%	4,6 M €	-0.9%	4,7 M €	-28.4%	6,5 M €	-0.1%	6,5 M €	-0.3%	6,5 M €	+2.7%	6,4 M €	+0.9%	6,3 M €	+20.1%	5,3 M €	+20.4%	4,4 M €	+47.3%	3 M €	+0.9%	2,9 M €	+40.5%	2,1 M €	-3.4%	2,2 M €	-12.0%	2,5 M €	+24.0%	2 M €	+137%	836 k €
Cash	385 k €	+332%	89,2 k €	+54.2%	57,8 k €	-65.9%	169,5 k €	-74.7%	670 k €	+859%	69,9 k €	-39.9%	116,2 k €	+87.7%	61,9 k €	-20.6%	78 k €	+37.8%	56,6 k €	+67.7%	33,8 k €	-83.2%	200,8 k €	-22.5%	259,2 k €	+132%	111,5 k €	-30.1%	159,5 k €	+170%	59,1 k €	-75.6%	242,4 k €	+74.5%	138,9 k €	+95.3%	71,1 k €
Debts	8,4 M €	+210%	2,7 M €	-14.5%	3,2 M €	+8.4%	2,9 M €	-7.8%	3,2 M €	-30.7%	4,6 M €	-1.0%	4,6 M €	-1.4%	4,7 M €	-1.8%	4,8 M €	-0.4%	4,8 M €	+33.2%	3,6 M €	+41.7%	2,6 M €	+117%	1,2 M €	-13.1%	1,4 M €	+32.4%	1 M €	-4.0%	1,1 M €	-32.0%	1,6 M €	+25.3%	1,2 M €	+71.4%	728,2 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 4 ended

Active mandates

Liselore Dermaut

Director

Active

PATRICK DERMAUT

Director

Active

Ended mandates

Liselore Dermaut

Manager

Ended

Nadine Naeye

Manager · until 29 mars 2012

Ended

Nadine Naeye

Manager

Ended

Patrick Dermaut

Manager

Ended

At this address

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S. Air Invest● Active	0536.820.269

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Abridged model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	20/08/2026	30/09/2025	12/09/2024	30/08/2023	30/06/2022	30/06/2021
General meeting	28/07/2026	11/09/2025	11/09/2024	31/07/2023	30/06/2022	30/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

21 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	28/07/2026	20/08/2026	Dutch	PDF
Micro model	31/12/2024	11/09/2025	30/09/2025	Dutch	PDF
Micro model	31/12/2023	11/09/2024	12/09/2024	Dutch	PDF
Micro model	31/12/2022	31/07/2023	30/08/2023	Dutch	PDF
Micro model	31/12/2021	30/06/2022	30/06/2022	Dutch	PDF
Abridged model	31/12/2020	30/06/2021	30/06/2021	Dutch	PDF
Micro model	31/12/2019	31/08/2020	30/09/2020	Dutch	PDF
Micro model	31/12/2018	26/08/2019	30/08/2019	Dutch	PDF
Micro model	31/12/2017	16/08/2018	30/08/2018	Dutch	PDF
Abridged model	31/12/2016	30/06/2017	30/06/2017	Dutch	PDF
Abridged model	31/12/2015	30/06/2016	26/07/2016	Dutch	PDF
Abridged model	31/12/2014	30/06/2015	21/09/2015	Dutch	PDF
Abridged model	31/12/2013	30/06/2014	22/07/2014	Dutch	PDF
Abridged model	31/12/2012	30/06/2013	23/07/2013	Dutch	PDF
Abridged modelCorrection	31/12/2011	30/07/2012	11/09/2012	Dutch	PDF
Abridged model	31/12/2011	30/07/2012	22/08/2012	Dutch	PDF
Abridged model	31/12/2010	30/06/2011	08/08/2011	Dutch	PDF
Abridged model	31/12/2009	30/06/2010	30/06/2010	Dutch	PDF
Abridged model	31/12/2008	30/06/2009	09/07/2009	Dutch	PDF
Abridged model	31/12/2007	30/06/2008	11/07/2008	Dutch	PDF
Abridged model	31/12/2006	30/06/2007	02/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 2 active · 4 ended

Active mandates

Liselore Dermaut

Director

Active

PATRICK DERMAUT

Director

Active

Ended mandates

Liselore Dermaut

Manager

Ended

Nadine Naeye

Manager · until 29 mars 2012

Ended

Nadine Naeye

Manager

Ended

Patrick Dermaut

Manager

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Registered office25/02/2026
MAATSCHAPPELIJKE ZETEL
PDF
Mandates25/01/2024
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, ) - WIJZIGING RECHTSVORM - ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares25/07/2017
DOEL - KAPITAAL - AANDELEN
PDF
Mandates22/09/2015
MAATSCHAPPELIJKE ZETEL - ONTSLAGEN - BENOEMINGEN
PDF
Capital / shares23/01/2014
KAPITAAL - AANDELEN
PDF
Registered office18/02/2013
MAATSCHAPPELIJKE ZETEL
PDF
Other11/04/2012
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Capital / shares29/07/2011
KAPITAAL - AANDELEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 20254,9 k €↓
2024
Annual accounts 2024103 k €↑
2023
Annual accounts 2023-45,2 k €↓
2022
Annual accounts 2022205,4 k €↑
2021
Annual accounts 2021-67,2 k €↓
2019
Annual accounts 201945,2 k €↓
2018
Annual accounts 201845,9 k €↓
2017
Annual accounts 201757,9 k €↓
2016
Annual accounts 201678 k €↑
2015
Annual accounts 2015-144,2 k €↓
2014
Annual accounts 201491,4 k €↑
2013
Annual accounts 201352,9 k €↓
2012
Annual accounts 2012103,7 k €↑
2011
Annual accounts 2011-72,4 k €↓
2010
Annual accounts 2010-19,5 k €↑
2009
Annual accounts 2009-234,2 k €↓
2008
Annual accounts 2008194,1 k €↓
2007
Annual accounts 2007451,8 k €↑
2006
Annual accounts 200668,9 k €
20/06/1986
IncorporationPrivate limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

PANA

Overview

What does PANA do?

Trend over 19 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline