What is Artoos specialised in?

Campaign concepts & big ideas, Campaign execution, Website development, CRM & lifecycle strategy, Marketing automation, Dashboards & reporting.

Around 101 full-time equivalents (financial year 2024).

Which sectors does Artoos work for?

Public sector & non-profit, Retail & e-commerce.

Review: Artoos

Q: Who are the clients of Artoos?

Among others VSV – Vlaamse Stichting Verkeerskunde, Rode Kruis Vlaanderen, HOYA, Fost Plus, Akzo Nobel, Record Credits, BAM - Belgian Association of Marketing.

Artoos bestaat sinds 1994 en profileert zich als creatief bureau uit Kampenhout. Het team telt ongeveer 101 medewerkers (VTE). De focus ligt op creatie & reclame, data & analytics, crm & marketing automation en webdevelopment. Sectorieel richt het bureau zich vooral op non-profit/goede doelen, overheid/verkeersveiligheid en retail/optiek.

1

How this agency makes money

Revenue, margin and what an hour of work brings in. Everything on the earning side sits together here.

Revenue trendgross margin per financial year

2021202220232024

Latest year: € 5,93 mln gross margin, growth -18,3% against a sector median of -0,1%.

Shrinking

MarginEBITDA / gross margin · value-added coverage

2021202220232024

ArtoosSector median

EBITDA margin 12,7%, sector median 22,3%. Value-added coverage 1,11 (median 1,20). Value-added coverage sits in the sector-wide grey zone (0.95-1.15): context, not an alarm.

Below sector level

Revenue per headGross margin per FTE, against payroll cost

€ 58.934

Median (2024) € 72.309

Against a payroll cost of € 67.947 per FTE. The ratio between the two is the coverage rate above.

Below the median

Yield levelYield per hour worked, against payroll cost

€ 41

Median (2024) € 45

143.056 hours worked, 1.422 per FTE. Against that sits € 48 of payroll cost per hour worked, leaving € -6 for premises, equipment, depreciation and profit.

Below the median

No hourly rate follows from this. Gross margin is already net of services and sundry goods, which mixes rebilled production with the agency's own overhead, and the accounts do not say how many hours were billable. Deriving a rate from this systematically understates it.

2

Can the agency take a hit

Buffer, cash position and payment behaviour side by side, so you can see where they disagree.

Bufferequity in months of payroll

Buffer: 2,1 months (median 6,9 mo). Equity in the latest year: € 1,18 mln.

Thin buffer

Cash positionAvailable cash, and whether it covers short-term debt

Cash € 385.278. Liquidity ratio 0,60: current assets cover short-term debt not in full. Solvency 11,9%.

Not covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 49 days of supplier credit, sector median 73. The accounts were filed 272 days after closing; the legal deadline is seven months.

Filed late

3

Signals and strengths

Events from the CBE and the Official Gazette over the past 24 months, plus positive markers derived from the figures.

Continuity

5 red flag(s) (24m)

Signals in the last 24 months

Autocomplete-alarm · 1 Sep 2026 · Google Autocomplete
Autocomplete-alarm · 1 Sep 2026 · Google Autocomplete
Autocomplete-alarm · 1 Sep 2026 · Google Autocomplete
Autocomplete-alarm · 1 Sep 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete
+ 7 older signals within 24m

Click a signal for a plain-language explanation. Each signal is a fact from a public source, without the agency's own context. Best to ask them directly.

What this agency does well

Turnover below the median (17,2%)
Invests in training (37 hours per FTE)

Each point is a fact from the filed annual accounts, measured against the same thresholds and sector medians as the signals above.

4

All the figures

Reference material, not a starting point. Expand it if you want to read the series yourself.

4 financial years, 2021 to 2024Result, staff and balance sheet

	2021	2022	2023	2024
Result
Gross margin	€ 6,19 mln	€ 7,41 mln+19,7%	€ 7,26 mln-2,1%	€ 5,93 mln-18,3%
EBITDA	€ 328.707	€ 1,07 mln	€ 1,86 mln	€ 750.157
EBITDA margin	5,3%	14,4%	25,6%	12,7%
Staff
FTE	118,3	114,4-3,3%	105,1-8,1%	100,6-4,3%
Gross margin per FTE	€ 52.323	€ 64.788	€ 69.062	€ 58.934
Payroll cost per FTE	€ 55.950	€ 64.222	€ 66.103	€ 67.947
Balance sheet
Equity	€ 239.744	€ 482.516	€ 1,49 mln	€ 1,18 mln
Cash	€ 1,58 mln	€ 1,59 mln	€ 1,05 mln	€ 385.278
Liquidity ratio	1,00	1,06	0,97	0,60

Payroll cost per FTE comes from the social report where available, otherwise from the Remuneration line. Both are gross costs including employer contributions.

What this factsheet does not know

How good the work is. Figures do not measure creativity, strategy or chemistry.
How the client portfolio is spread. Concentration is not in the accounts.
Freelancers and subcontractors are not in the FTE figures. An agency with 40 staff may in practice run with 70 people.
The figures cover financial year 2024, filed on 29/09/2025. At a fast-moving agency reality today may differ.

Based on publicly filed annual accounts (NBB) and official records (CBE, Belgian Official Gazette). An indication, not financial advice. Sector medians calculated on 14 Sep 2026. Sector medians based on financial year 2024: the last year for which nearly all accounts have been filed.

What the agency actually does 7 services

Advertising & Campaigns

Campaign concepts & big ideas Campaign execution

Digital Experience & Tech

Website development

CRM, Email & Loyalty

CRM & lifecycle strategy Marketing automation

Data, Measurement & Governance

Dashboards & reporting Data science & analytics (incl. predictive modelling)

Sector focus

Public sector & governmentHealth & pharmaFinance & insurance

Publicly known clients

VSV – Vlaamse Stichting Verkeerskunde, Rode Kruis Vlaanderen, HOYA, Fost Plus, Akzo Nobel, Record Credits, BAM - Belgian Association of Marketing

Based on IKAg research and public sources. Incomplete or outdated? Let us know.

1

Seniors or juniors?

Payroll cost per FTE is the best public proxy for a team's experience level. Higher is not automatically better, but it says something about who sits at the table.

Payroll cost per FTE

€ 67.947

+11% versus the median

Team composition

100,6 FTE

38% women
62% men

Training per FTE

37,2 h

Many agencies fill this field in incompletely.

€ 67.947

Median Creatief bureau (2024) € 61.047All agencies (2024) € 59.069

Read with care. Directors and partners invoicing through a management company are not in the payroll cost. At small agencies this skews the picture downwards considerably.

2

Will your team stay?

Inflow and outflow from the social report. This series only counts people on the payroll: freelancers who invoice do not appear in it. A low figure therefore means two very different things, a stable permanent team or a small core with heavy outsourcing. A high figure usually points to short contracts. Compare only within the same type of agency.

Exits 2024

17,2%

Median for this type of agency (2024): 32,5%

Inflow 2024

14,5%

14,6 FTE in, 17,3 FTE out

Net team change

-2,7 FTE

2021202220232024

Source: annual accounts and social reports (NBB), collected by IKAg. Financial year 2024. Calculations by IKAg; an indication, not financial advice. Sector medians based on financial year 2024: the last year for which nearly all accounts have been filed.