What is Knotoryus specialised in?

Brand strategy & positioning, Marketing strategy, Brand identity & design, Content strategy & editorial, Copywriting & long-form content, Organic social content.

How big is Knotoryus?

Around 1 full-time equivalent (financial year 2024).

Which sectors does Knotoryus work for?

Fashion & lifestyle, Sports & entertainment.

Review: Knotoryus

Q: Who are the clients of Knotoryus?

Among others UNIQLO, MoMu - Antwerp Fashion Museum, Mediahuis, Orange, Coca-Cola.

Vanuit Brussel werkt Knotoryus sinds 2005 als contentbureau. De opgegeven expertises zijn content & copy, social media, strategie en branding & identiteit. Uit de publiek bekende klantenlijst: UNIQLO, MoMu - Antwerp Fashion Museum, Mediahuis en Orange.

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: € 25.375 gross margin, growth -51,7% against a sector median of -2,3%.

Shrinking

MarginEBITDA / gross margin · value-added coverage

2021202220232024

KnotoryusSector median

EBITDA margin -84,9%, sector median 24,2%. Value-added coverage 0,54 (median 1,28).

Loss-making

Revenue per headGross margin per FTE, against payroll cost

€ 25.375

Median (2024) € 78.822

Against a payroll cost of € 46.374 per FTE. The ratio between the two is the coverage rate above.

Below the median

Yield levelYield per hour worked, against payroll cost

€ 15

Median (2024) € 50

1.747 hours worked, 1.747 per FTE. Against that sits € 27 of payroll cost per hour worked, leaving € -12 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: -7,6 months (median 7,3 mo). Equity in the latest year: € -29.391.

Critical buffer

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

Cash € 261. Liquidity ratio 0,32: current assets cover short-term debt not in full. Solvency -143,4%.

Not covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 105 days of supplier credit, sector median 65. The accounts were filed 199 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

3 red flag(s) (24m)

Signals in the last 24 months

Sharp drop in equity · 31 Dec 2024 · 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 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.
Low value-added coverage · 31 Dec 2024 · 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.
Critical buffer · 31 Dec 2024 · NBB
Equity covers less than one month of payroll. At an agency that pays out its profit every year this means something different than at one that is losing money. Ask where the reserve sits.
Negative equity · 31 Dec 2024 · 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.

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

Stable team (no meaningful FTE loss)

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	€ 52.019	€ 52.564+1%	€ 52.5540%	€ 25.375-51,7%
EBITDA	€ 12.869	€ 11.337	€ 5.470	€ -21.556
EBITDA margin	24,7%	21,6%	10,4%	-84,9%
Staff
FTE	1,0	1,00%	1,00%	1,00%
Gross margin per FTE	€ 52.019	€ 52.564	€ 52.554	€ 25.375
Payroll cost per FTE	€ 38.691	€ 40.879	€ 45.997	€ 46.374
Balance sheet
Equity	€ 7.683	€ 7.024	€ 1.361	€ -29.391
Cash	€ 19.530	€ 8.644	€ 10.489	€ 261
Liquidity ratio	1,25	1,16	1,15	0,32

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 2024, filed on 18/07/2025. 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 14 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 7 services

Strategy & Insights

Brand strategy & positioning Marketing strategy

Branding & Design

Brand identity & design

Content & Production

Content strategy & editorial Copywriting & long-form content

Social, Influencer & Community

Organic social content Social strategy & platform mix

Sector focus

Fashion & lifestyleMedia & entertainmentTelecomFMCG

Publicly known clients

UNIQLOMoMu - Antwerp Fashion MuseumMediahuisOrangeCoca-Cola

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

1

People 2 people mapped

D

Dominique

I

immi

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

€ 46.374

-23% versus the median

Team composition

1,0 FTE

€ 46.374

Median Contentbureau (2024) € 60.062All agencies (2024) € 59.069

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 2024. 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.