What is Chaomatic specialised in?

Brand strategy & positioning, Marketing strategy, Brand identity & design, Content strategy & editorial, Copywriting & long-form content, Video production.

How big is Chaomatic?

Around 2 full-time equivalents (financial year 2025).

Review: Chaomatic

Chaomatic is een contentbureau met thuisbasis in Heverlee, opgericht in 2024. Met ongeveer 2 VTE is dit een klein bureau. Het bureau combineert content & copy, video & productie, strategie en branding & identiteit. Namen die publiek aan dit bureau gelinkt worden: Headlight.

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

20212022202320242025

Latest year: € 217.314 gross margin, growth +85,2% against a sector median of -14,9%.

At or above sector pace

MarginEBITDA / gross margin · value-added coverage

20212022202320242025

ChaomaticSector median

EBITDA margin 26,7%, sector median 20,9%. Value-added coverage 1,37 (median 1,21).

Healthy margin

Revenue per headGross margin per FTE, against payroll cost

€ 90.547

Median (2024) € 78.822

Against a payroll cost of € 65.926 per FTE. The ratio between the two is the coverage rate above.

Above the median

Yield levelYield per hour worked, against payroll cost

€ 58

Median (2024) € 50

3.716 hours worked, 1.548 per FTE. Against that sits € 43 of payroll cost per hour worked, leaving € 16 for premises, equipment, depreciation and profit.

Above 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: -2,2 months (median 6,7 mo). Equity in the latest year: € -28.586.

Critical buffer

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

Cash € 13.621. Liquidity ratio 0,65: current assets cover short-term debt not in full. Solvency -15,1%.

Not covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 249 days of supplier credit, sector median 65. The accounts were filed 222 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

2 red flag(s) (24m)

Signals in the last 24 months

Late filing · 10 Aug 2026 · NBB
The annual accounts were filed after the statutory deadline. Over a third of the sector does this, usually because of the accountant's calendar. Rarely a story in itself.
Negative equity · 31 Dec 2025 · NBB
Debts exceed assets. Sometimes a subordinated shareholder loan sits opposite that, sometimes not. Ask how the agency is covering this, and on what timescale.
Sharp drop in equity · 31 Dec 2025 · NBB
The financial reserve shrank by more than 30% over two financial years. A dividend, buying out a partner and a loss-making year all look the same here. Ask which of the three it was.
Critical buffer · 31 Dec 2025 · NBB
Equity covers less than one month of payroll. At an agency that pays out its profit every year this means something different than at one that is losing money. Ask where the reserve sits.
Late filing · 30 Aug 2025 · NBB
The annual accounts were filed after the statutory deadline. Over a third of the sector does this, usually because of the accountant's calendar. Rarely a story in itself.
Low value-added coverage · 31 Dec 2024 · NBB
Every euro of payroll generates less than 95 cents of added value. That happens in a build-up year, with a lot of subcontracting, or under pressure on rates. Ask what explains it here.
+ 1 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

EBITDA margin above the sector median (26,7%)
Value-added per euro of payroll above the sector median (1,37)
Turnover below the median (41,7%)

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.

5 financial years, 2021 to 2025Result, staff and balance sheet

	2021	2022	2023	2024	2025
Result
Gross margin	€ 110.000	€ 123.000+11,8%	€ 212.000+72,4%	€ 117.318-44,7%	€ 217.314+85,2%
EBITDA	-	-	-	€ -54.185	€ 57.953
EBITDA margin	-	-	-	-46,2%	26,7%
Staff
FTE	2,1	2,10%	3,2+52,4%	2,8-12,5%	2,4-14,3%
Gross margin per FTE	€ 52.381	€ 58.571	€ 66.250	€ 41.899	€ 90.547
Payroll cost per FTE	€ 30.952	€ 39.048	€ 37.188	€ 60.881	€ 65.926
Balance sheet
Equity	€ 50.000	€ 57.000	€ 93.000	€ -65.757	€ -28.586
Cash	-	-	-	€ 7.189	€ 13.621
Liquidity ratio	-	-	-	0,29	0,65

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 2025, filed on 10/08/2026. 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 2024: the last year for which nearly all accounts have been filed.

What the agency actually does 6 services

Strategy & Insights

Brand strategy & positioning Marketing strategy

Branding & Design

Brand identity & design

Content & Production

Content strategy & editorial Copywriting & long-form content Video production

Sector focus

B2B services

Publicly known clients

Headlight

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

1

People 2 people mapped

F

Fran

MH

Michael Humblet

Based on public profiles. Something wrong? Let us know.

2

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

€ 65.926

+10% versus the median

Team composition

2,4 FTE

50% women
50% men

€ 65.926

Median Contentbureau (2024) € 60.062All agencies (2024) € 59.021

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.

3

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 2025

41,7%

Median for this type of agency (2024): 55,1%

Inflow 2025

/

20212022202320242025

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 2024: the last year for which nearly all accounts have been filed.