ACTIVE

PANATHENA

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Financial year 2024 · closed on 31/12/2024

Net result

1 M €

+145.6% YoY

Gross margin

1,4 M €

+153.0% YoY

Equity

2,8 M €

+36.0% YoY

What does PANATHENA do?

PANATHENA is a Private company with limited liability incorporated in 2007. Its main activity is: Other publishing activities. Its registered office is in Buggenhout.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0894.312.482

Incorporation

19/12/2007

Legal form

Private company with limited liability

Registered office

Bosstraat 99
9255 Buggenhout · FlandreSee on map

Contributed capital

87 900,00 €

Latest accounts

31/12/2024

Activities (NACE)

58190Other publishing activities· main 58190Other publishing activities 70200Management consultancy activities 70220Business and other management consultancy activities

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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✦ Verdict · Analyst summary

Financials

Trend over 15 financial years

	2024		2023		2022		2021		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Gross margin	1,4 M €	+153%	563,1 k €	+0.0%	562,9 k €	+0.2%	561,9 k €	+28.9%	435,9 k €	+31.5%	331,6 k €	-16.5%	397 k €	+3.7%	382,9 k €	-9.9%	425 k €	-14.0%	494,2 k €	+76.1%	280,7 k €	-34.1%	425,9 k €	+68.6%	252,7 k €	-32.3%	373,1 k €	+115%	173,4 k €
EBITDA	1,4 M €	+154%	560,5 k €	+0.0%	560,4 k €	+0.2%	559,5 k €	+29.1%	433,5 k €	+31.6%	329,5 k €	-16.3%	393,9 k €	+3.7%	379,8 k €	-10.1%	422,6 k €	-14.2%	492,2 k €	+78.0%	276,6 k €	-35.0%	425,2 k €	+68.9%	251,8 k €	-32.3%	371,8 k €	+115%	173,1 k €
Operating result	1,4 M €	+154%	559,5 k €	-0.0%	559,7 k €	+2.7%	544,8 k €	+31.2%	415,4 k €	+33.7%	310,6 k €	-15.5%	367,6 k €	+6.0%	346,9 k €	-15.8%	411,8 k €	-12.3%	469,4 k €	+77.4%	264,6 k €	-37.5%	423,7 k €	+69.5%	250 k €	-32.0%	367,4 k €	+113%	172,2 k €
Net result	1 M €	+146%	415 k €	+32.7%	312,7 k €	-15.2%	369 k €	+39.0%	265,5 k €	+31.9%	201,2 k €	-9.3%	221,9 k €	+7.9%	205,7 k €	-18.6%	252,7 k €	-18.3%	309,3 k €	+75.8%	175,9 k €	-37.3%	280,4 k €	+65.3%	169,6 k €	-24.3%	224,1 k €	+86.5%	120,1 k €
Balance sheet
Equity	2,8 M €	+36.0%	2,1 M €	+11.4%	1,9 M €	+5.5%	1,8 M €	+52.4%	1,2 M €	+29.3%	905,8 k €	+28.6%	704,6 k €	+46.0%	482,7 k €	+74.2%	277 k €	+497%	46,4 k €	-52.5%	97,6 k €	-19.8%	121,6 k €	+195%	41,2 k €	-11.6%	46,6 k €	+107%	22,5 k €
Total assets	3 M €	+26.9%	2,3 M €	+12.1%	2,1 M €	+5.5%	2 M €	+48.2%	1,3 M €	+19.5%	1,1 M €	+26.1%	881,3 k €	+16.2%	758,3 k €	+7.9%	702,9 k €	+20.1%	585,1 k €	-10.0%	649,9 k €	-6.2%	692,9 k €	+24.2%	557,8 k €	+3.7%	538,1 k €	+58.9%	338,7 k €
Cash	1,8 M €	+55.3%	1,1 M €	-2.2%	1,2 M €	-24.2%	1,5 M €	+45.2%	1,1 M €	+28.6%	818,9 k €	+18.4%	691,8 k €	+45.4%	475,7 k €	+35.2%	351,8 k €	+407%	69,4 k €	-81.7%	378,9 k €	-23.1%	492,9 k €	+30.3%	378,3 k €	+4.1%	363,5 k €	+116%	168,2 k €
Debts	97,6 k €	-56.6%	225 k €	+21.9%	184,5 k €	+4.3%	176,9 k €	+17.0%	151,3 k €	-25.2%	202,2 k €	+16.3%	173,9 k €	-35.1%	268 k €	-36.6%	422,4 k €	-20.7%	533 k €	-3.1%	550 k €	-3.3%	569,1 k €	+10.5%	515 k €	+5.0%	490,7 k €	+63.9%	299,4 k €

Estimate

Indicative valuation

As an indication, this company is worth

between 10 M€ and 25 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2024 · 1 active · 1 ended

Active mandates

Werner Van Ingelgem

Director · since 19 décembre 2007

Active

Ended mandates

Van Ingelgem Werner

Manager · since 19 décembre 2007

Ended

At this address

Other companies at this address

Company	CBE no.
ROMANOVA● Active	0828.907.461

Annual accounts

Full financial information

	2024	2023	2022	2021	2020	2019
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Micro model	Micro model
Start of the financial year	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020	01/01/2019
Closing of the financial year	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020	31/12/2019
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	23/07/2025	31/07/2024	31/08/2023	04/08/2022	29/07/2021	18/09/2020
General meeting	30/06/2025	30/06/2024	30/08/2023	02/08/2022	26/07/2021	08/09/2020
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

17 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2024	30/06/2025	23/07/2025	Dutch	PDF
Abridged model	31/12/2023	30/06/2024	31/07/2024	Dutch	PDF
Abridged model	31/12/2022	30/08/2023	31/08/2023	Dutch	PDF
Abridged model	31/12/2021	02/08/2022	04/08/2022	Dutch	PDF
Micro model	31/12/2020	26/07/2021	29/07/2021	Dutch	PDF
Micro model	31/12/2019	08/09/2020	18/09/2020	Dutch	PDF
Micro model	31/12/2018	30/09/2019	04/10/2019	Dutch	PDF
Micro model	31/12/2017	31/07/2018	09/08/2018	Dutch	PDF
Abridged model	31/12/2016	25/09/2017	29/09/2017	Dutch	PDF
Abridged model	31/12/2015	05/10/2016	08/11/2016	Dutch	PDF
Abridged model	31/12/2014	23/09/2015	30/09/2015	Dutch	PDF
Abridged model	31/12/2013	01/10/2014	03/10/2014	Dutch	PDF
Abridged model	31/12/2012	04/10/2013	09/10/2013	Dutch	PDF
Abridged model	31/12/2011	19/10/2012	22/10/2012	Dutch	PDF
Abridged model	31/12/2010	27/10/2011	28/10/2011	Dutch	PDF
Abridged model	31/12/2009	30/09/2010	04/10/2010	Dutch	PDF
Abridged model	31/12/2008	31/08/2009	22/09/2009	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 10 M€ and 25 M€

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 31/12/2024 · 1 active · 1 ended

Active mandates

Werner Van Ingelgem

Director · since 19 décembre 2007

Active

Ended mandates

Van Ingelgem Werner

Manager · since 19 décembre 2007

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Capital / shares24/03/2014
KAPITAAL - AANDELEN
PDF
Other31/12/2007
RUBRIEK OPRICHTING (NIEUWE RECHTSPERSOON, OPENING BIJKANTOOR, ENZ...)
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

2024
Annual accounts 20241 M €↑
2023
Annual accounts 2023415 k €↑
2022
Annual accounts 2022312,7 k €↓
2021
Annual accounts 2021369 k €↑
2018
Annual accounts 2018265,5 k €↑
2017
Annual accounts 2017201,2 k €↓
2016
Annual accounts 2016221,9 k €↑
2015
Annual accounts 2015205,7 k €↓
2014
Annual accounts 2014252,7 k €↓
2013
Annual accounts 2013309,3 k €↑
2012
Annual accounts 2012175,9 k €↓
2011
Annual accounts 2011280,4 k €↑
2010
Annual accounts 2010169,6 k €↓
2009
Annual accounts 2009224,1 k €↑
2008
Annual accounts 2008120,1 k €
19/12/2007
IncorporationPrivate company with limited liability

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

PANATHENA

Overview

What does PANATHENA do?

Trend over 15 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