Pancakes are a complex source of carbohydrates, which your body brakes down into more simple molecules such as glucose (mono saccharides). this can either be transformed to fat under the skin, or used in cellular respiration. So basically it depends on your metabolism.
How much you eat, and how much you exercise.
It is recommended that you eat a breakfast high in carbohydrates and lipids (fats and oils), as long you you keep your metabolism up, as you are likely to burn it off if you are active.
If you avoid eating carbohydrates, you are likely to feel drowsy, and therefore your energy output will be lower, and you will not burn fat as well.
Basically, it should be fine, as long as you get plenty of exercise.