Made
The content of this factsheet is in Dutch.
Sinds 2014 is Made actief als ux- & designstudio uit Antwerpen. De bezetting ligt rond 28 VTE. De opgegeven expertises zijn ux/ui design, webdevelopment, strategie en branding & identiteit. Sectoren waar het bureau vaak werkt: maritiem & logistiek, manufacturing & construction, consumer products en healthcare.
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
3 red flag(s) (24m)- Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete
- Board change · 11 Jun 2026 · StaatsbladAppointments or resignations on the board. Routine during growth, succession or a new partner. Ask about it when several changes follow each other closely.
- Board change · 9 Jan 2026 · StaatsbladAppointments or resignations on the board. Routine during growth, succession or a new partner. Ask about it when several changes follow each other closely.
- Two consecutive loss-making years · 31 Dec 2025 · NBBTwo 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.
- Critical buffer · 31 Dec 2025 · NBBEquity 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.
- Sharp drop in equity · 31 Dec 2025 · NBBThe 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.
- + 6 older signals within 24m
What this agency does well
- Gross margin grew 3 years in a row
- Outgrew the sector median 2 years running
- Team grew (+43,2% FTE in the latest year)
- Margin per hour worked rose 2 years in a row
- Turnover below the median (7,3%)
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 | € -11.353 | € 1,22 mln | € 1,25 mln+3% | € 1,61 mln+28,1% | € 2,52 mln+57,1% |
| EBITDA | € -11.801 | € 567.531 | € -338.533 | € 9.901 | € -81.677 |
| EBITDA margin | - | 46,6% | -27% | 0,6% | -3,2% |
| Staff | |||||
| FTE | - | 7,5 | 19,0+153,3% | 19,2+1,1% | 27,5+43,2% |
| Gross margin per FTE | - | € 162.375 | € 65.988 | € 83.666 | € 91.770 |
| Payroll cost per FTE | - | € 86.644 | € 83.748 | € 82.771 | € 94.363 |
| Balance sheet | |||||
| Equity | € -543.345 | € 795.084 | € 1,23 mln | € 1,12 mln | € 40.954 |
| Cash | € 1 | € 527.067 | € 200.172 | € 442.812 | € 81.911 |
| Liquidity ratio | 0,00 | 1,67 | 0,62 | 0,56 | 1,04 |
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 28/07/2026. 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
Sector focus
Publicly known clients
CMB.Tech, Renson, Brabo, Barco, Danone, Alpro, Coozus, Henco, Honda, Televic, Ecourage, BeJobs, Bayer, Ecover, Novy
Based on IKAg research and public sources. Incomplete or outdated? Let us know.
People 4 people mapped
The heart of this team is creative: 2 of 4 profiles are makers. Within that core, Design and UX/UI Design stand out. One strategist on board — enough to hold the direction, not to fill meetings. A small team: short lines, little noise between you and the makers.
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.
- 28% women
- 72% men
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.
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 Made
- When was Made founded?
- In 2014.
- Where is Made located?
- In Antwerpen, Belgium.
- What is Made specialised in?
- Brand strategy & positioning, Marketing strategy, Brand identity & design, Website development, Website strategy & UX.
- How big is Made?
- Around 28 full-time equivalents (financial year 2025).
- Which sectors does Made work for?
- Industry & manufacturing, Logistics & transport, Retail & e-commerce, Healthcare & pharma.
- Who are the clients of Made?
- Among others CMB.Tech, Renson, Brabo, Barco, Danone, Alpro, Coozus, Henco, Honda, Televic, Ecourage, BeJobs, Bayer, Ecover, Novy.
Figures from the annual accounts up to financial year 2025. Company details checked against the CBE register on 2026-10-13.