Pancakes and waffles both contain eggs, milk and flour, but waffles also contain sugar and fat (melted butter) which helps in forming the crisp exterior. Pancakes are cooked on one side and then flipped to cook the other side, whereas waffles are cooked on both sides at once. The texture of a pancake is different to a waffle in that a pancake is soft and floppy, whereas a waffle is crispy. A pancake batter is normally thinner than a waffle batter.