What does PANEM ET CIRCENSES do?

PANEM ET CIRCENSES is a bakery in Leuven. Private Limited, started on 3 July 1992, 1 establishment.

What is the address of PANEM ET CIRCENSES?

The registered office of PANEM ET CIRCENSES is located at Waversebaan 69, 3001 Leuven.

Is PANEM ET CIRCENSES still active?

Yes. According to the CBE (29 October 2026) PANEM ET CIRCENSES is active, legal situation “Normale toestand”, started on 3 July 1992.

Is PANEM ET CIRCENSES registered on Peppol?

Yes, PANEM ET CIRCENSES is registered on the Peppol network with ID 0208:0447745367.

What is the enterprise number of PANEM ET CIRCENSES?

The enterprise number of PANEM ET CIRCENSES is BE0447745367.

When was PANEM ET CIRCENSES founded?

PANEM ET CIRCENSES was founded on 3 July 1992.

Who are the directors of PANEM ET CIRCENSES?

According to the 2025 annual accounts, the directors of PANEM ET CIRCENSES are: Bakrayco BV.

Is PANEM ET CIRCENSES a reliable company?

Databakkes does not pass judgement; this is what the sources say: Active according to the CBE since 3 July 1992; 5 annual accounts filed, latest fiscal year 2025; 1 directors known from the annual account.

How much profit did PANEM ET CIRCENSES make in 2025?

PANEM ET CIRCENSES posted a profit after taxes of € 6,386 in financial year 2025.

What is the revenue of PANEM ET CIRCENSES?

As a small company, PANEM ET CIRCENSES is not required to publish revenue in its annual accounts. In financial year 2025, its added value was € 651,192.

How much does an employee at PANEM ET CIRCENSES earn?

The average wage cost per full-time employee at PANEM ET CIRCENSES was € 48,600 in 2025: staff costs of € 617,648 for 12.7 FTE, according to the annual account at the National Bank. That is the employer's cost, not net pay.

How many employees does PANEM ET CIRCENSES have?

According to the 2025 annual accounts, PANEM ET CIRCENSES has 12.7 full-time equivalents (FTE).

PANEM ET CIRCENSES (Private Limited) - Leuven

Dossier PANEM ET CIRCENSES, printed on 29 October 2026 from databakkes.be/en/0447745367/panem-et-circenses. Sources: CBE, National Bank of Belgium, Belgian Official Gazette.

Warning lights

Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.

Tight liquidity NBB

Cash and receivables cover 63 % of short-term debt in 2025; threshold 65 %.

Financials

Financial year 2025

PANEM ET CIRCENSES from Leuven, company number BE0447745367, closed financial year 2025 with a result of € 6,386 after tax. For that financial year PANEM ET CIRCENSES recorded a gross margin of € 651,192 and equity of € 11,414. Compared with financial year 2024, the result moved from € 35,146 to € 6,386. The company is profitable. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 24, 2026.

What it is worth Growing

€ 11,414

▲ 127% vs 2024

Assets minus debts, by the books. What is left if everything were sold and paid today.

Profit Healthy

€ 6,386

▼ 82% vs 2024

Profit after tax over the fiscal year.

Cash in the bank

€ 18,398

▲ 33% vs 2024

Cash and bank balances on the last day of the fiscal year.

Where the profit goes Growing

Stays in the company

No dividend for 2025. Retained profit grew to € -81,546.

People and assets in 2025

Full-time equivalents

12.7

▲ 3.8 vs 2024

Average over the fiscal year, from the social balance sheet.

Wage cost

€ 617,648

▲ 9% vs 2024

€ 48,600 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.

Vehicles and equipment

€ 15,948

▲ € 14,860 vs 2024

Book value of vehicles, furniture and equipment.

Debts at end 2025

Bank debt ≈ 1 years to go The accounts give the long-term loan and the part due within the year. The remainder divided by that part is the number of years at an equal pace; a new loan or early repayment changes it.

€ 21,457

▼ 19% vs 2024

€ 6,956 is repaid this year. At this pace the long-term loan is gone in ≈ 1 years.

Owed to suppliers

€ 81,082

▲ 57% vs 2024

Supplier invoices still open on the last day of the fiscal year.

Taxes and wages

€ 82,850

▲ 60% vs 2024

Taxes, VAT and social contributions still to pay.

Key figures per fiscal year Download key figures (CSV)
	2022	2023	2024	2025	Change 2024 → 2025
Gross margin	€ 493,553 Gross margin 2022: € 493,553 First fiscal year in the series	€ 526,408 Gross margin 2023: € 526,408 ▲ 7% vs 2022 (€ 493,553) Favourable step	€ 639,873 Gross margin 2024: € 639,873 ▲ 22% vs 2023 (€ 526,408) Favourable step	€ 651,192 Gross margin 2025: € 651,192 ▲ 2% vs 2024 (€ 639,873) Favourable step	▲ 2%
Profit after taxes	€ 37,394 Profit after taxes 2022: € 37,394 First fiscal year in the series	€ 14,160 Profit after taxes 2023: € 14,160 ▼ 62% vs 2022 (€ 37,394) Unfavourable step	€ 35,146 Profit after taxes 2024: € 35,146 ▲ 148% vs 2023 (€ 14,160) Favourable step	€ 6,386 Profit after taxes 2025: € 6,386 ▼ 82% vs 2024 (€ 35,146) Unfavourable step	▼ 82%
Equity	€ -44,279 Equity 2022: € -44,279 First fiscal year in the series	€ -30,118 Equity 2023: € -30,118 ▲ € 14,160 vs 2022 (€ -44,279) Favourable step	€ 5,028 Equity 2024: € 5,028 ▲ € 35,146 vs 2023 (€ -30,118) Favourable step	€ 11,414 Equity 2025: € 11,414 ▲ 127% vs 2024 (€ 5,028) Favourable step	▲ 127%
Total debts	€ 323,196 Total debts 2022: € 323,196 First fiscal year in the series	€ 292,818 Total debts 2023: € 292,818 ▼ 9% vs 2022 (€ 323,196) Favourable step	€ 275,424 Total debts 2024: € 275,424 ▼ 6% vs 2023 (€ 292,818) Favourable step	€ 193,954 Total debts 2025: € 193,954 ▼ 30% vs 2024 (€ 275,424) Favourable step	▼ 30%
Cash	€ 10,022 Cash 2022: € 10,022 First fiscal year in the series	€ 18,595 Cash 2023: € 18,595 ▲ 86% vs 2022 (€ 10,022) Favourable step	€ 13,795 Cash 2024: € 13,795 ▼ 26% vs 2023 (€ 18,595) Unfavourable step	€ 18,398 Cash 2025: € 18,398 ▲ 33% vs 2024 (€ 13,795) Favourable step	▲ 33%
Retained profit	€ -137,239 Retained profit 2022: € -137,239 First fiscal year in the series	€ -123,079 Retained profit 2023: € -123,079 ▲ € 14,160 vs 2022 (€ -137,239) Favourable step	€ -87,932 Retained profit 2024: € -87,932 ▲ € 35,146 vs 2023 (€ -123,079) Favourable step	€ -81,546 Retained profit 2025: € -81,546 ▲ € 6,386 vs 2024 (€ -87,932) Favourable step	▲ € 6,386
Bank debt	€ 114,351 Bank debt 2022: € 114,351 First fiscal year in the series	€ 92,501 Bank debt 2023: € 92,501 ▼ 19% vs 2022 (€ 114,351) Favourable step	€ 26,633 Bank debt 2024: € 26,633 ▼ 71% vs 2023 (€ 92,501) Favourable step	€ 21,457 Bank debt 2025: € 21,457 ▼ 19% vs 2024 (€ 26,633) Favourable step	▼ 19%
Balance sheet total	€ 278,918 Balance sheet total 2022: € 278,918 First fiscal year in the series	€ 262,699 Balance sheet total 2023: € 262,699 ▼ 6% vs 2022 (€ 278,918) Unchanged	€ 280,451 Balance sheet total 2024: € 280,451 ▲ 7% vs 2023 (€ 262,699) Unchanged	€ 205,368 Balance sheet total 2025: € 205,368 ▼ 27% vs 2024 (€ 280,451) Unchanged	▼ 27%
Employees (FTE)	9.7 Employees (FTE) 2022: 9.7 First fiscal year in the series	10.8 Employees (FTE) 2023: 10.8 ▲ 1.1 vs 2022 (9.7) Unchanged	8.9 Employees (FTE) 2024: 8.9 ▼ 1.9 vs 2023 (10.8) Unchanged	12.7 Employees (FTE) 2025: 12.7 ▲ 3.8 vs 2024 (8.9) Unchanged	▲ 3.8

Key figures of PANEM ET CIRCENSES, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.

What happened to PANEM ET CIRCENSES?

What happened at PANEM ET CIRCENSES in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:

Jul 24, 2026 New annual accounts for financial year 2025: profit of € 6,386 (▼ 82% vs 2024). Source: NBB ↗
Jul 8, 1992 New establishment in Leuven. KBO
Jul 3, 1992 Start of the company according to the CBE. KBO

In short

From € 37,394 profit in 2022 to € 6,386 profit in 2025.

Best year ever: 2022, with € 37,394 profit.

On average € 51,300 of value added per employee in 2025.

Original PDFs at the National Bank ↗

Management

BAKRAYCO 100%

The stake of BAKRAYCO comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.

PANEM ET CIRCENSES

Behind PANEM ET CIRCENSES is Bakrayco BV. The shares are held by BAKRAYCO (100%).

Directors

According to the 2025 annual accounts

Bakrayco BV

Director · represented by Ward Laeremans

Also active at: DE BACKERY, CC, BaJo

Shareholders

BAKRAYCO

100%

Participations

No participations in other companies reported.

Establishments

Establishment units

Physical locations of this company

Registered office

Waversebaan 69

3001 Leuven

What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.

Details

Company number

0447.745.367

VAT number

BE 0447.745.367

Registered office

Waversebaan 69, 3001 Leuven

Names & denominations

PANEM ET CIRCENSES

Enterprise type

Rechtspersoon

Legal form

Private limited company

Legal situation

Normale toestand

Start date

3 July 1992

Peppol

Active · Active since 20 Oct 2025

Activities · NACE

Ambachtelijke vervaardiging van brood en van vers banketbakkerswerk

Artisanale brood- en banketbakkerijen

View on CBE Public ↗ Annual accounts (NBB) ↗

PANEM ET CIRCENSES

Warning lights

Financials

What happened to PANEM ET CIRCENSES?

Management

Directors

Shareholders

Participations

Establishments

Establishment units

Details

Frequently asked questions