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 32 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
PANAM Holding from Heist-op-den-Berg, company number BE0638990963, closed financial year 2025 with a result of € -42,155 after tax. For that financial year PANAM Holding recorded a gross margin of € 76,563 and equity of € 11.8 million. Compared with financial year 2024, the result moved from € 22,629 to € -42,155. The company made a loss. The company holds a healthy buffer. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on August 31, 2026.
€ 11.8 million
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -42,155
▼ still € 22,629 profit in 2024
Profit after tax over the fiscal year.
€ 1,657
▼ 78% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € 4.2 million.
People and assets in 2025
0.8
Average over the fiscal year, from the social balance sheet.
€ 117,652
▲ 4% vs 2024
Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 588
▼ 48% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 12,284
▲ 33% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 15,536
▼ 1% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 40,508 | € 238,184 | € 70,464 | € 76,563 | ▲ 9% |
| Profit after taxes | € -66,785 | € 354,703 | € 22,629 | € -42,155 | ▼ € 64,783 |
| Equity | € 11,463,674 | € 11,818,376 | € 11,841,005 | € 11,798,850 | |
| Total debts | € 1,341,095 | € 990,888 | € 1,017,224 | € 967,562 | ▼ 5% |
| Cash | € 69,214 | € 9,734 | € 7,464 | € 1,657 | ▼ 78% |
| Retained profit | € 3,893,674 | € 4,248,376 | € 4,271,005 | € 4,228,850 | ▼ 1% |
| Bank debt | € 0 | € 242 | € 0 | € 0 | |
| Balance sheet total | € 12,804,769 | € 12,809,264 | € 12,858,229 | € 12,766,413 | ▼ 1% |
| Employees (FTE) | 0.8 | 0.8 | 0.8 | 0.8 |
Key figures of PANAM Holding, 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 PANAM Holding?
What happened at PANAM Holding in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: loss of € 42,155 (▼ € 64,783 vs 2024). filed late Source: NBB ↗
- New establishment in Heist-op-den-Berg. KBO
- Start of the company according to the CBE. KBO
In short
From € 66,785 loss in 2022 to € 42,155 loss in 2025.
Paid € 1,621 in corporate taxes since 2022.
Best year ever: 2023, with € 354,703 profit.
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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
Behind PANAM Holding is Philippe SEUTIN. It owns 99.9% of CP4U, 99.8% of Seutin Rentals and 14.3% of M-Finance itself.
Directors
According to the 2025 annual accounts
Philippe SEUTIN
Director
Also active at: SEUTIN RENTALS, M-FINANCE, NIJLENSE TUINBOUWVENNOOTSCHAP, CP4U
Establishments
Establishment units
Physical locations of this company
Melkouwenstraat(ITE) 18
2222 Heist-op-den-Berg
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0638.990.963
- VAT number
- BE 0638.990.963
- Registered office
- Melkouwenstraat(ITE) 18, 2222 Heist-op-den-Berg
- Names & denominations
- PANAM Holding
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 30 September 2015
- Peppol
- Active · Active since 7 Jan 2026
- Activities · NACE
Activiteiten van holdings
Holdings