Around 0 full-time equivalents (financial year 2024).

Review: Dot2

Dot2 is al ruim tien jaar actief als strategiebureau uit Lede. Het aanbod is gericht op strategie. Tot de publiek bekende klanten behoren Mutec BV.

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: € 38.234 gross margin, growth -40,3% against a sector median of +17,9%.

Shrinking

MarginEBITDA / gross margin · value-added coverage

2021202220232024

Dot2Sector median

EBITDA margin 44,6%, sector median 39%. Value-added coverage 1,85 (median 1,47).

Healthy margin

Revenue per headGross margin per FTE, against payroll cost

€ 382.337

Against a payroll cost of € 201.210 per FTE. The ratio between the two is the coverage rate above.

No data

Yield levelYield per hour worked, against payroll cost

€ 562

68 hours worked, 680 per FTE. Against that sits € 296 of payroll cost per hour worked, leaving € 266 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: 4,3 months (median 6,2 mo). Equity in the latest year: € 7.244.

Adequate buffer

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

Cash € 1.356. Liquidity ratio 0,30: current assets cover short-term debt not in full. Solvency 4,8%.

Not covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 122 days of supplier credit, sector median 109. The accounts were filed 210 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

3 red flag(s) (24m)

Signals in the last 24 months

Late filing · 31 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.
Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete
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.
Two consecutive loss-making years · 31 Dec 2025 · 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.
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

EBITDA margin above the sector median (44,6%)
Value-added per euro of payroll above the sector median (1,85)

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	€ 71.128	€ 102.803+44,5%	€ 64.007-37,7%	€ 38.234-40,3%
EBITDA	€ 27.321	€ 54.404	€ 16.419	€ 17.034
EBITDA margin	38,4%	52,9%	25,7%	44,6%
Staff
FTE	1,1	1,0-9,1%	1,00%	0,1-90%
Gross margin per FTE	€ 64.661	€ 102.803	€ 64.007	€ 382.337
Payroll cost per FTE	€ 38.080	€ 46.208	€ 45.277	€ 201.210
Balance sheet
Equity	€ 1.091	€ 31.873	€ 23.766	€ 7.244
Cash	€ 32.328	€ 29.120	€ 17.587	€ 1.356
Liquidity ratio	2,01	1,29	0,97	0,30

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.
This agency files an abbreviated or micro scheme and therefore publishes no staff data. Seniority, turnover and hourly level cannot be derived. This is entirely legal and says nothing about quality.
The figures cover financial year 2025, filed on 31/08/2026. 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 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 1 services

Strategy & Insights

Marketing strategy

Sector focus

Uitsluitend KMO's in groeifase (strategie-executie, teamalignment, leiderschap na fusies/overnames). Managementconsultancy ontstaan uit fusie van 'I am human' en 'BRANDshift'; geen marcom-aanbod.

From our own research. The agency hasn't listed its sectors yet.

Publicly known clients

Mutec BV

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

1

People 2 people mapped

AM

Ann-Sophie Maeyaert

Co-founder

VT

Vanessa Toelen

Co-founder

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

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 2024

1.000,0%

Inflow 2024

/

2021202220232024

Figures for financial year 2024: in 2025 this agency published no inflow or outflow.

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.