King of Hearts
King of Hearts is an internationally awarded full-service branding & communication agency blending strategic insight with creative excellence to help ambitious brands grow, connect and stand out.
The content of this factsheet is in Dutch.
King of Hearts is een brandingbureau met thuisbasis in Antwerpen, opgericht in 2014. Met ongeveer 8 VTE is dit een middelgroot bureau. De opgegeven expertises zijn strategie, branding & identiteit en creatie & reclame. Sectorieel richt het bureau zich vooral op internationale en belgische merken, fmcg/retail, bouwmaterialen en real estate.
How this agency makes money
Revenue, margin and what an hour of work brings in. Everything on the earning side sits together here.
Can the agency take a hit
Buffer, cash position and payment behaviour side by side, so you can see where they disagree.
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- Zichtbaarheid verschoven · 1 Nov 2026 · Google Autocomplete
- Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete
- Thin buffer · 30 Sep 2025 · NBBEquity 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.
What this agency does well
- Profitable in every one of the last 5 years
- Stable team (no meaningful FTE loss)
- Value-added per euro of payroll above the sector median (1,40)
- Comfortable cash position: 156 days of payroll
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 | € 370.724 | € 471.542+27,2% | € 564.626+19,7% | € 504.512-10,6% | € 645.032+27,9% |
| EBITDA | € 100.735 | € 111.299 | € 61.049 | € 38.877 | € 183.501 |
| EBITDA margin | 27,2% | 23,6% | 10,8% | 7,7% | 28,4% |
| Staff | |||||
| FTE | 6,2 | 7,5+21% | 9,3+24% | 8,2-11,8% | 8,20% |
| Gross margin per FTE | € 59.794 | € 62.872 | € 60.712 | € 61.526 | € 78.662 |
| Payroll cost per FTE | € 42.631 | € 47.781 | € 53.940 | € 56.101 | € 56.070 |
| Balance sheet | |||||
| Equity | € 140.113 | € 56.113 | € 51.835 | € 61.408 | € 105.684 |
| Cash | € 145.226 | € 5.797 | - | € 64.657 | € 196.176 |
| Liquidity ratio | 1,33 | 1,11 | 1,01 | 1,20 | 1,18 |
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 20/04/2026. 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
Sector focus
Publicly known clients
Quick-Step, American Tourister, Immobel, Whitewood, Greenyard, Timmermans, Lazer Helmets, Beaulieu, Sensotec, Walt Disney, ARAG, Bobcat, Bank Delen, BASF, Cardo Hotels
Based on IKAg research and public sources. Incomplete or outdated? Let us know.
People 3 people mapped
Based on public profiles. Something wrong? Let us know.
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.
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.
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 2025: the last year for which nearly all accounts have been filed.
Frequently asked questions about King of Hearts
- When was King of Hearts founded?
- In 2014.
- Where is King of Hearts located?
- In Antwerpen, Belgium.
- What is King of Hearts specialised in?
- Brand strategy & positioning, Marketing strategy, Brand identity & design, Campaign concepts & big ideas, Campaign execution.
- How big is King of Hearts?
- Around 8 full-time equivalents (financial year 2025).
- Which sectors does King of Hearts work for?
- Construction & real estate, Finance & insurance, Public sector & non-profit, Retail & e-commerce.
- Who are the clients of King of Hearts?
- Among others Quick-Step, American Tourister, Immobel, Whitewood, Greenyard, Timmermans, Lazer Helmets, Beaulieu, Sensotec, Walt Disney, ARAG, Bobcat, Bank Delen, BASF, Cardo Hotels.
Figures from the annual accounts up to financial year 2025. Company details checked against the CBE register on 2026-10-13.