What is Content Makers specialised in?

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

How big is Content Makers?

Around 1 full-time equivalent (financial year 2024).

Review: Content Makers

Q: Who are the clients of Content Makers?

Among others Beweging.net, Belgische Federatie van Voedselbanken, Jobat, Jobmatch, Moteo Benelli, De Brilstudio, Retail Projects Europe, Whyte Corporate Affairs, Futurn, DGI, Succes Koffie.

Vanuit Zaventem werkt Content Makers als contentbureau. De opgegeven expertises zijn content & copy, strategie, branding & identiteit en social media. Sectoren waar het bureau vaak werkt: kmo's (offline en online marketing).

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: € 2.344 gross margin, growth - against a sector median of -2,3%.

Not enough history

MarginEBITDA / gross margin · value-added coverage

2021202220232024

Content MakersSector median

EBITDA margin -, sector median 24,2%. Value-added coverage 0,03 (median 1,28).

No margin data

Revenue per headGross margin per FTE, against payroll cost

€ 3.349

Median (2024) € 78.822

Against a payroll cost of € 65.608 per FTE. The ratio between the two is the coverage rate above.

Below the median

Yield levelYield per hour worked, against payroll cost

€ 2

Median (2024) € 50

1.071 hours worked, 1.530 per FTE. Against that sits € 43 of payroll cost per hour worked, leaving € -41 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: -136,5 months (median 7,3 mo). Equity in the latest year: € -522.337.

Critical buffer

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

Cash € 4.484. Liquidity ratio 0,04: current assets cover short-term debt not in full. Solvency -2.406,2%.

Not covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 3.396 days of supplier credit, sector median 65. The accounts were filed 141 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

3 red flag(s) (24m)

Signals in the last 24 months

Negative equity · 31 Dec 2024 · 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.
Critical buffer · 31 Dec 2024 · 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.
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.
Two consecutive loss-making years · 31 Dec 2024 · NBB
Two financial years in a row closed at a loss. That can be an investment period, or a client that fell away. Ask what explains the pattern and what has changed since.

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

Stable team (no meaningful FTE loss)

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	€ 9.288	€ 38.250+311,8%	€ -6.679-117,5%	€ 2.344
EBITDA	€ -64.807	€ -10.080	€ -56.894	€ -44.386
EBITDA margin	-	-26,4%	-	-
Staff
FTE	1,4	0,9-35,7%	0,7-22,2%	0,70%
Gross margin per FTE	€ 6.634	€ 42.500	€ -9.542	€ 3.349
Payroll cost per FTE	€ 52.925	€ 53.314	€ 71.186	€ 65.608
Balance sheet
Equity	€ -375.350	€ -402.546	€ -469.849	€ -522.337
Cash	€ 12.535	€ 18.539	€ 14.224	€ 4.484
Liquidity ratio	0,22	0,27	0,06	0,04

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 21/05/2025. 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 21 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

Strategy & Insights

Brand strategy & positioning Marketing strategy

Branding & Design

Brand identity & design

Content & Production

Content strategy & editorial Copywriting & long-form content

Social, Influencer & Community

Organic social content Social strategy & platform mix

Sector focus

Real estate & constructionB2B servicesFood & beverageRetail & e-commerce

Publicly known clients

Beweging.net, Belgische Federatie van Voedselbanken, Jobat, Jobmatch, Moteo Benelli, De Brilstudio, Retail Projects Europe, Whyte Corporate Affairs, Futurn, DGI, Succes Koffie

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

€ 65.608

+9% versus the median

Team composition

0,7 FTE

€ 65.608

Median Contentbureau (2024) € 60.062All agencies (2024) € 59.045

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 2023

28,6%

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

Inflow 2023

/

2021202220232024

Figures for financial year 2023: in 2024 this agency published no inflow or outflow.

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.