How big is Balthazar Events?

Around 8 full-time equivalents (financial year 2024).

Review: Balthazar Events

Q: Who are the clients of Balthazar Events?

Among others BESTSELLER Belgium, The Tall Ships Races Antwerp, King Baudouin Foundation.

Vanuit Antwerpen werkt Balthazar Events sinds 2012 als eventbureau. Het bureau is toegespitst op events. Het zwaartepunt ligt bij opdrachtgevers uit corporate & private events (b2b en particulier). Uit de publiek bekende klantenlijst: BESTSELLER Belgium, The Tall Ships Races Antwerp en King Baudouin Foundation.

Awards

6× BEA Awards

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

202220232024

Latest year: € 682.426 gross margin, growth -26,4% against a sector median of +12,7%.

Shrinking

MarginEBITDA / gross margin · value-added coverage

202220232024

Balthazar EventsSector median

EBITDA margin 46,6%, sector median 48,1%. Value-added coverage 1,88 (median 1,65).

Healthy margin

Revenue per headGross margin per FTE, against payroll cost

€ 88.627

Median (2025) € 92.992

Against a payroll cost of € 46.723 per FTE. The ratio between the two is the coverage rate above.

Around the median

Yield levelYield per hour worked, against payroll cost

€ 52

Median (2025) € 56

13.079 hours worked, 1.699 per FTE. Against that sits € 28 of payroll cost per hour worked, leaving € 25 for premises, equipment, depreciation and profit.

Around 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: 14,9 months (median 12,1 mo). Equity in the latest year: € 445.530.

Adequate buffer

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

Cash € 648.240. Liquidity ratio 1,68: current assets cover short-term debt in full. Solvency 21,8%.

Amply covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 435 days of supplier credit, sector median 87. The accounts were filed 164 days after closing; the legal deadline is seven months.

Pays slower than average

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

Points to ask about

Signals in the last 24 months

Zichtbaarheid verschoven · 1 Oct 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete
Loss-making year · 30 Jun 2025 · NBB
One financial year closed at a loss. The size is not shown here: it can be a few thousand euros, a one-off settlement, or a deliberate investment. Ask the agency what was behind it.
+ 2 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

Profitable in every one of the last 3 years
Strong buffer: 14,9 months of payroll in equity
Team grew (+5,5% FTE in the latest year)
Value-added per euro of payroll above the sector median (1,88)
Healthy working capital (current ratio 1,68)
Equity was earned, not injected (reserves 20,3× the capital contributed)
Comfortable cash position: 658 days of payroll

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.

3 financial years, 2022 to 2024Result, staff and balance sheet

	2022	2023	2024
Result
Gross margin	€ 935.718	€ 926.933-0,9%	€ 682.426-26,4%
EBITDA	€ 664.928	€ 594.231	€ 317.746
EBITDA margin	71,1%	64,1%	46,6%
Staff
FTE	6,3	7,3+15,9%	7,7+5,5%
Gross margin per FTE	€ 148.527	€ 126.977	€ 88.627
Payroll cost per FTE	€ 42.274	€ 45.065	€ 46.723
Balance sheet
Equity	€ 272.880	€ 401.729	€ 445.530
Cash	€ 455.700	€ 565.975	€ 648.240
Liquidity ratio	2,28	1,52	1,68

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.
This agency files an abbreviated or micro scheme and therefore publishes no staff data. Seniority, turnover and hourly level cannot be derived. This is entirely legal and says nothing about quality.
The figures cover financial year 2025, filed on 16/12/2025. 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 2 Nov 2026. Sector medians based on financial year 2025: the last year for which nearly all accounts have been filed.

What the agency actually does 1 services

Events, Sponsoring & Activation

Events & experiences

Sector focus

Fashion & lifestylePublic sector & government

Publicly known clients

BESTSELLER BelgiumThe Tall Ships Races AntwerpKing Baudouin Foundation

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

1

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

77,9%

Median for this type of agency (2025): 47,2%

Inflow 2024

77,9%

6,0 FTE in, 6,0 FTE out

Net team change

0,0 FTE

2022202320242025

Figures for financial year 2024: in 2025 this agency published no inflow or outflow.

Exits are clearly above what is usual for this type of agency. That may reflect project-based staffing, but it is a reason to ask in the pitch how much of the proposed team was already here two years ago, and to contractually fix your permanent contacts.

Source: annual accounts and social reports (NBB), collected by IKAg. Financial year 2025. Calculations by IKAg; an indication, not financial advice. Sector medians based on financial year 2025: the last year for which nearly all accounts have been filed.

Award-winning work 6 award(s)

2023

BEA Awards SilverInstitutional Events · “The Tall Ships Races 2022 (Antwerp & Port)” · source ↗
BEA Awards WinnerSpecial Jury Award - ROI · “The Tall Ships Races 2022” · source ↗

2017

BEA Awards WinnerInsurance & Safety Award · “Launch Orange Belgium” · source ↗
BEA Awards BronzeB2B Events · “Launch Orange Belgium” · source ↗

2016

BEA Awards Bronze“ISWA: World Waste Congress” · source ↗
BEA Awards Bronze“Have a nice day!” · source ↗

As published by the organising award shows, collected by IKAg.