What is De Maanstekerij specialised in?

Brand strategy & positioning, Brand identity & design, Campaign concepts & big ideas, Campaign execution, Website development.

How big is De Maanstekerij?

Around 1 full-time equivalent (financial year 2025).

Which sectors does De Maanstekerij work for?

Public sector & non-profit, Sports & entertainment.

Review: De Maanstekerij

Q: Who are the clients of De Maanstekerij?

Among others Klimafrost, We Check, Kinepolis, AQ NV, Unik-id, Stad Halle, PICO Totaalprojecten, Klimaan, Thiers-Horizon, Pirobouw, Mechelen in beweging, Brieleke, Asbest Consulting, Warm Coffee.

De Maanstekerij werkt ruim tien jaar als creatief bureau uit Mechelen. Het aanbod bestrijkt branding & identiteit, webdevelopment en creatie & reclame.

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

20242025

Latest year: € 66.309 gross margin, growth +13,7% against a sector median of -0,2%.

At or above sector pace

MarginEBITDA / gross margin · value-added coverage

20242025

De MaanstekerijSector median

EBITDA margin 26,1%, sector median 21,9%. Value-added coverage 1,37 (median 1,23).

Healthy margin

Revenue per headGross margin per FTE, against payroll cost

€ 66.309

Median (2025) € 78.663

Against a payroll cost of € 47.418 per FTE. The ratio between the two is the coverage rate above.

Below the median

Yield levelYield per hour worked, against payroll cost

€ 38

Median (2025) € 49

1.729 hours worked, 1.729 per FTE. Against that sits € 27 of payroll cost per hour worked, leaving € 11 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: 8,1 months (median 7,7 mo). Equity in the latest year: € 32.204.

Adequate buffer

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

Cash € 12.836. Liquidity ratio 1,86: current assets cover short-term debt in full. Solvency 33,2%.

Amply covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 0 days of supplier credit, sector median 85. The accounts were filed 201 days after closing; the legal deadline is seven months.

Pays and files on time

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

No serious signals

Signals in the last 24 months

Zichtbaarheid verschoven · 1 Nov 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Oct 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete

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 (26,1%)
Strong buffer: 8,1 months of payroll in equity
Stable team (no meaningful FTE loss)
Value-added per euro of payroll above the sector median (1,37)
Healthy working capital (current ratio 1,86)
Comfortable cash position: 99 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.

2 financial years, 2024 to 2025Result, staff and balance sheet

	2024	2025
Result
Gross margin	€ 58.309	€ 66.309+13,7%
EBITDA	€ 16.232	€ 17.314
EBITDA margin	27,8%	26,1%
Staff
FTE	1,0	1,00%
Gross margin per FTE	€ 58.309	€ 66.309
Payroll cost per FTE	€ 41.096	€ 47.418
Balance sheet
Equity	€ 32.204	€ 32.204
Cash	€ 24.145	€ 12.836
Liquidity ratio	1,85	1,86

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 20/07/2026. 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.

What the agency actually does 5 services

Strategy & Insights

Brand strategy & positioning

Branding & Design

Brand identity & design

Advertising & Campaigns

Campaign concepts & big ideas Campaign execution

Digital Experience & Tech

Website development

Sector focus

Media & entertainmentPublic sector & governmentReal estate & constructionB2B services

Publicly known clients

Klimafrost, We Check, Kinepolis, AQ NV, Unik-id, Stad Halle, PICO Totaalprojecten, Klimaan, Thiers-Horizon, Pirobouw, Mechelen in beweging, Brieleke, Asbest Consulting, Warm Coffee

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

1

People 6 people mapped

The heart of this team is creative: 4 of 6 profiles are makers. Within that core, Design, Art Direction and Merkstrategie stand out. A specialist, not a generalist: the expertise is narrow but deep.

I

Inge

Art director

A

Andreas

Fotograaf

E

Elias

Developer

J

Joran

Grafisch ontwerper

R

Rudy

Controller

S

Stefan

Digital creative

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

€ 47.418

-26% versus the median

Team composition

1,0 FTE

€ 47.418

Median Creatief bureau (2025) € 64.418All 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.

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.