How big is Cravat Events?

Around 6 full-time equivalents (financial year 2025).

Review: Cravat Events

Cravat Events, opgericht in 2016, is een eventbureau uit Kontich.

Awards

2× 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

20212022202320242025

Latest year: € 523.075 gross margin, growth -6,9% against a sector median of -8,9%.

Shrinking

MarginEBITDA / gross margin · value-added coverage

20212022202320242025

Cravat EventsSector median

EBITDA margin 7,2%, sector median 36,2%. Value-added coverage 1,08 (median 1,50). 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

€ 93.406

Median (2025) € 92.992

Against a payroll cost of € 86.659 per FTE. The ratio between the two is the coverage rate above.

Around the median

Yield levelYield per hour worked, against payroll cost

€ 54

Median (2025) € 56

9.620 hours worked, 1.718 per FTE. Against that sits € 50 of payroll cost per hour worked, leaving € 4 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: 2,1 months (median 9,8 mo). Equity in the latest year: € 83.915.

Thin buffer

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

Cash € 374.043. Liquidity ratio 1,41: current assets cover short-term debt in full. Solvency 14,8%.

Amply covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 190 days of supplier credit, sector median 87. The accounts were filed 240 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

Points to ask about

Signals in the last 24 months

Late filing · 28 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.
Thin buffer · 31 Dec 2025 · NBB
Equity covers less than three months of payroll. A limited reserve, and at many smaller agencies the normal state of affairs. Ask how the agency absorbs a setback.
Sharp headcount decline · 31 Dec 2025 · NBB
Average headcount fell by 15% or more in a year. That can be contraction, and just as easily a deliberate choice for fewer but more experienced people. Ask who left and who came in their place.
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.
Sharp headcount decline · 31 Dec 2024 · NBB
Average headcount fell by 15% or more in a year. That can be contraction, and just as easily a deliberate choice for fewer but more experienced people. Ask who left and who came in their place.

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

Margin per hour worked rose 4 years in a row
Healthy working capital (current ratio 1,41)
Comfortable cash position: 281 days of payroll
Turnover below the median (32,1%)

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	€ 365.388	€ 476.202+30,3%	€ 502.072+5,4%	€ 561.681+11,9%	€ 523.075-6,9%
EBITDA	€ 92.324	€ 110.319	€ 15.766	€ 96.709	€ 37.557
EBITDA margin	25,3%	23,2%	3,1%	17,2%	7,2%
Staff
FTE	6,3	7,4+17,5%	8,1+9,5%	6,6-18,5%	5,6-15,2%
Gross margin per FTE	€ 57.998	€ 64.352	€ 61.984	€ 85.103	€ 93.406
Payroll cost per FTE	€ 43.249	€ 49.385	€ 59.983	€ 52.670	€ 86.659
Balance sheet
Equity	€ 153.217	€ 247.503	€ 224.089	€ 224.132	€ 83.915
Cash	€ 32.682	€ 200.097	€ 83.696	€ 332.084	€ 374.043
Liquidity ratio	1,44	2,96	1,72	1,98	1,41

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 28/08/2026. 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 2025: the last year for which nearly all accounts have been filed.

Coming soon

We're working on this part of the factsheet.

Coming soon

We're working on this part of the factsheet.

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

€ 86.659

+39% versus the median

Team composition

5,6 FTE

76% women
24% men

€ 86.659

Median Eventbureau (2025) € 62.258All agencies (2025) € 62.294

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 2025

32,1%

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

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 2025: the last year for which nearly all accounts have been filed.

Award-winning work 2 award(s)

2023

BEA Awards BronzeB2E Events · “10 jaar BelOrta (BelOrta)” · source ↗
BEA Awards SilverB2C Events · “Runner's High School (Thomas More Turnhout)” · source ↗

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