This invention relates to a composite panel of flat surfaces and small thickness (4 to 40 mm), which is grey, white or coloured, resistant, rigid and has high performances in terms of resistance to impact, fire, humidity, temperature variation, noise and fungi, as well as to other microorganisms, along with its inherent architectural versatility, comprised by 20 to 50% of white or grey Portland cement; 5 to 50% of debarked resinous wood particles; 0.1 to 10% of a surface accelerator; 0.1 to 20% of aluminium sulphate solution; 2 to 50% of limestone filler; 0.5 to 20% of PVA fibers; 0.1 to 50% of light weight aggregates; and optionally 0.1 to 15% of inorganic pigments. The combination between the resistance and flexibility provided by the wood and the polyvinyl alcohol (PVA) fibers, and the durability and rigidity provided by the cement allows a large scope of applications, both in outer and inner spaces, on public or residential buildings, making it an inexpensive and easy solution to apply.