What is Front Seat Studio specialised in?

Brand strategy & positioning, Marketing strategy, Brand identity & design, Campaign concepts & big ideas, Campaign execution, Video production.

How big is Front Seat Studio?

Around 4 full-time equivalents (financial year 2025).

Review: Front Seat Studio

Front Seat Studio bestaat sinds 2023 en profileert zich als brandingbureau uit Antwerpen. Er werken ongeveer 4 mensen, uitgedrukt in voltijdse equivalenten. Ze werken rond strategie, branding & identiteit, creatie & reclame en video & productie. Het zwaartepunt ligt bij opdrachtgevers uit brands die om experiences geven (breed).

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: € 212.443 gross margin, growth +0,2% against a sector median of +6,6%.

Growing slower than the sector

MarginEBITDA / gross margin · value-added coverage

20242025

Front Seat StudioSector median

EBITDA margin 19,7%, sector median 32,2%. Value-added coverage 1,25 (median 1,29).

Healthy margin

Revenue per headGross margin per FTE, against payroll cost

€ 49.405

Median (2025) € 82.809

Against a payroll cost of € 37.833 per FTE. The ratio between the two is the coverage rate above.

Below the median

Yield levelYield per hour worked, against payroll cost

€ 28

Median (2025) € 48

7.602 hours worked, 1.768 per FTE. Against that sits € 21 of payroll cost per hour worked, leaving € 7 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: 1,2 months (median 6,3 mo). Equity in the latest year: € 16.482.

Thin buffer

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

Cash € 10.253. Liquidity ratio 1,02: current assets cover short-term debt in full. Solvency 17%.

Tightly covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 57 days of supplier credit, sector median 68. The accounts were filed 182 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
Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete
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.
Registered office moved · 21 May 2025 · Staatsblad
The registered office relocated. Usually just a new office.

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

Team grew (+59,3% FTE in the latest year)

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	€ 212.079	€ 212.443+0,2%
EBITDA	€ 11.285	€ 41.816
EBITDA margin	5,3%	19,7%
Staff
FTE	2,7	4,3+59,3%
Gross margin per FTE	€ 78.548	€ 49.405
Payroll cost per FTE	€ 59.427	€ 37.833
Balance sheet
Equity	€ 14.599	€ 16.482
Cash	€ 5.182	€ 10.253
Liquidity ratio	1,12	1,02

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 01/07/2026. 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 6 services

Strategy & Insights

Brand strategy & positioning Marketing strategy

Branding & Design

Brand identity & design

Advertising & Campaigns

Campaign concepts & big ideas Campaign execution

Content & Production

Video production

Sector focus

Brands die om experiences geven (breed)

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

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

€ 37.833

-38% versus the median

Team composition

4,3 FTE

89% women
11% men

€ 37.833

Median Brandingbureau (2025) € 60.980All 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

46,5%

Median for this type of agency (2025): 38,9%

Inflow 2025

83,7%

3,6 FTE in, 2,0 FTE out

Net team change

+1,6 FTE

20242025

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.