How big is Createlli?

Around 2 full-time equivalents (financial year 2026).

Review: Createlli

Createlli werkt ruim tien jaar als strategiebureau uit Antwerpen. Op de loonlijst staan ongeveer 4 voltijdse equivalenten.

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

20222023202420252026

Latest year: € 143.672 gross margin, growth -24,9% against a sector median of -14%.

Shrinking

MarginEBITDA / gross margin · value-added coverage

20222023202420252026

CreatelliSector median

EBITDA margin 19,9%, sector median 36,9%. Value-added coverage 1,25 (median 1,53).

Below sector level

Revenue per headGross margin per FTE, against payroll cost

€ 59.863

Against a payroll cost of € 47.752 per FTE. The ratio between the two is the coverage rate above.

No data

Yield levelYield per hour worked, against payroll cost

€ 36

3.995 hours worked, 1.665 per FTE. Against that sits € 29 of payroll cost per hour worked, leaving € 7 for premises, equipment, depreciation and profit.

No data

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: 8,6 months (median 9,2 mo). Equity in the latest year: € 82.501.

Adequate buffer

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

Cash € 79.748. Liquidity ratio 1,34: current assets cover short-term debt in full. Solvency 31,2%.

Amply covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 191 days of supplier credit, sector median 102. The accounts were filed 213 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

Board change · 28 Sep 2026 · Staatsblad
Appointments or resignations on the board. Routine during growth, succession or a new partner. Ask about it when several changes follow each other closely.
Low value-added coverage · 31 Mar 2025 · 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.
Thin buffer · 31 Mar 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.
Loss-making year · 31 Mar 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.

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

Strong buffer: 8,6 months of payroll in equity
Healthy working capital (current ratio 1,34)
Comfortable cash position: 254 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.

5 financial years, 2022 to 2026Result, staff and balance sheet

	2022	2023	2024	2025	2026
Result
Gross margin	€ 144.593	€ 155.107+7,3%	€ 256.511+65,4%	€ 191.392-25,4%	€ 143.672-24,9%
EBITDA	€ -5.484	€ 13.887	€ 16.028	€ -31.232	€ 28.519
EBITDA margin	-3,8%	9%	6,2%	-16,3%	19,9%
Staff
FTE	2,5	2,4-4%	4,2+75%	3,7-11,9%	2,4-35,1%
Gross margin per FTE	€ 57.837	€ 64.628	€ 61.074	€ 51.728	€ 59.863
Payroll cost per FTE	€ 47.857	€ 58.640	€ 57.232	€ 59.763	€ 47.752
Balance sheet
Equity	€ 58.198	€ 71.848	€ 86.256	€ 54.332	€ 82.501
Cash	€ 49.029	€ 54.930	€ 174.568	€ 33.360	€ 79.748
Liquidity ratio	2,10	1,62	1,40	1,29	1,34

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 2026, filed on 30/10/2026. 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

People 13 people mapped

This team is built around client service: 4 of 13 are account & project. Within that core, Coördinatie, Projectleiding and Scrum/Agile stand out. There are 4 strategists around — expect thinking first, pixels second.

JD

Jan De Kezel

Founder and Partner

JV

Jan Vincke

Partner

AV

Ashish Verma

Developer

FM

Fabio Morales

Participation Consultant

F

Fien

G

Guillaume

Senior Consultant

IA

Irati Alonso

Participation Expert

I

Irene

Intern

IV

Iris Vande Walle

Participation Consultant

J

Jone

L

Luna

Project Officer

M

Mirte

Spatial Planner

VV

Vishant Verma

Developer

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

€ 47.752

Team composition

2,4 FTE

51% women
49% men

€ 47.752

All 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.

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 2026

41,7%

Inflow 2026

79,2%

1,9 FTE in, 1,0 FTE out

Net team change

+0,9 FTE

20222023202420252026

Source: annual accounts and social reports (NBB), collected by IKAg. Financial year 2026. 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.