Financials
Financial year 2025
PANAMA from Lokeren, company number BE0461175711, closed financial year 2025 with a result of € 688,230 after tax. For that financial year PANAMA recorded revenue of € 26.5 million and equity of € 1.9 million. Compared with financial year 2024, the result moved from € 303,073 to € 688,230. Profitable, and profit is growing. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on July 17, 2026.
€ 1.9 million
▲ 57% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 688,230
▲ 127% vs 2024
Profit after tax over the fiscal year.
€ 887,696
▼ 24% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 1.9 million.
People and assets in 2025
82.3
▲ 22.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 5.1 million
▲ 32% vs 2024
€ 61,400 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.
€ 271,271
▲ 93% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 1.8 million
▲ 3% vs 2024
€ 205,881 is repaid this year. At this pace the long-term loan is gone in ≈ 6 years.
€ 2.9 million
▲ 21% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 53 days on average.
€ 1.1 million
▲ 2% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 17,921,958 | € 21,303,876 | € 23,620,809 | € 26,513,875 | ▲ 12% |
| Profit after taxes | € 174,580 | € 454,875 | € 303,073 | € 688,230 | ▲ 127% |
| Equity | € 449,494 | € 904,369 | € 1,207,442 | € 1,895,672 | ▲ 57% |
| Total debts | € 8,640,283 | € 9,134,358 | € 6,787,242 | € 7,023,095 | ▲ 3% |
| Cash | € 1,723,101 | € 1,514,895 | € 1,174,066 | € 887,696 | ▼ 24% |
| Land & buildings | € 1,195,004 | € 1,123,637 | € 1,052,271 | € 980,904 | ▼ 7% |
| Retained profit | € 430,902 | € 885,777 | € 1,188,850 | € 1,877,080 | ▲ 58% |
| Dividend | € 500,000 | € 0 | € 0 | € 0 | |
| Bank debt | € 5,078,897 | € 5,205,685 | € 1,729,165 | € 1,779,892 | ▲ 3% |
| Balance sheet total | € 9,089,778 | € 10,038,726 | € 8,198,166 | € 8,979,811 | ▲ 10% |
| Employees (FTE) | 50.5 | 54.2 | 60.1 | 82.3 | ▲ 22.2 |
Key figures of PANAMA, 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 PANAMA?
What happened at PANAMA in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 688,230 (▲ 127% vs 2024). Source: NBB ↗
- Outloud BV became a director. NBB
- Panama Group BV became a director. NBB
- New establishment in Lokeren. KBO
- Start of the company according to the CBE. KBO
In short
From € 174,580 profit in 2022 to € 688,230 profit in 2025.
Paid € 1.1 million in corporate taxes since 2022.
Best year ever: 2025, with € 688,230 profit.
Paid out € 500,000 in dividends to the owners in total.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of Panama Group, OUTLOUD comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
PANAMABehind PANAMA are Outloud BV and Panama Group BV. The shares are held by Panama Group (77.5%) and OUTLOUD (10%).
Directors
According to the 2025 annual accounts
Director · represented by Lennert Staelens
since 2020
Director · represented by Nikolas Andries
since 2020
Shareholders
77.5%
10%
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Bouwstraat 8
9160 Lokeren
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 1 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0461.175.711
- VAT number
- BE 0461.175.711
- Registered office
- Bouwstraat 8, 9160 Lokeren
- Names & denominations
- PANAMA
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 12 August 1997
- Peppol
- Active · Active since 30 Sept 2025
- Activities · NACE
Organisatie van congressen en beurzen
Administratieve en ondersteunende activiteiten ten behoeve van kantoren
Exploitatie van culturele centra en multifunctionele zalen ten behoeve van culturele activiteiten
Overige vormen van onderwijs
Overige sportactiviteiten, neg
Exploitatie van schouwburgen, concertzalen en dergelijke
Activiteiten van reclamebureaus
Detailhandel in tabaksproducten
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