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

Who are the clients of Mapshot?

Among others Geen specifieke merknamen bevestigd.

Review: Mapshot

Q: What is Mapshot specialised in?

Campaign concepts & big ideas, Campaign execution.

Vanuit Heverlee werkt Mapshot sinds 2023 als creatief bureau. Het aanbod is gericht op creatie & reclame. Tot de publiek bekende klanten behoren Geen specifieke merknamen bevestigd.

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

20232024

Latest year: € 51.403 gross margin, growth +92,7% against a sector median of -0,1%.

At or above sector pace

MarginEBITDA / gross margin · value-added coverage

20232024

MapshotSector median

EBITDA margin 13,9%, sector median 22,3%. Value-added coverage 1,16 (median 1,20).

Healthy margin

Revenue per headGross margin per FTE, against payroll cost

€ 51.403

Median (2024) € 72.309

Against a payroll cost of € 44.253 per FTE. The ratio between the two is the coverage rate above.

Below the median

Yield levelYield per hour worked, against payroll cost

€ 30

Median (2024) € 45

1.700 hours worked, 1.700 per FTE. Against that sits € 26 of payroll cost per hour worked, leaving € 4 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: 11,7 months (median 6,9 mo). Equity in the latest year: € 43.047.

Adequate buffer

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

Cash € 28.032. Liquidity ratio 2,03: current assets cover short-term debt in full. Solvency 55,4%.

Amply covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 141 days of supplier credit, sector median 73. The accounts were filed 206 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

1 red flag(s) (24m)

Signals in the last 24 months

Change in legal status · 12 Jul 2026 · KBO
The official status of the company in the CBE changed. That ranges from an administrative correction to something very serious. Check the details and ask the agency for context.
Registered office moved · 8 Jun 2026 · 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.

Legal status (CBE): Opening faillissement

What this agency does well

Strong buffer: 11,7 months of payroll in equity
Team grew (+11,1% FTE in the latest year)
Healthy working capital (current ratio 2,03)
Comfortable cash position: 231 days of payroll

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, 2023 to 2024Result, staff and balance sheet

	2023	2024
Result
Gross margin	€ 26.675	€ 51.403+92,7%
EBITDA	€ -13.873	€ 7.150
EBITDA margin	-52%	13,9%
Staff
FTE	0,9	1,0+11,1%
Gross margin per FTE	€ 29.639	€ 51.403
Payroll cost per FTE	€ 45.053	€ 44.253
Balance sheet
Equity	€ 40.782	€ 43.047
Cash	€ 11.981	€ 28.032
Liquidity ratio	2,90	2,03

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 25/07/2025. 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 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 2 services

Advertising & Campaigns

Campaign concepts & big ideas Campaign execution

Sector focus

merken die jonge/gaming-doelgroepen willen bereiken, entertainment

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

Publicly known clients

Geen specifieke merknamen bevestigd

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

1

People 10 people mapped

The heart of this team is creative: 7 of 10 profiles are makers. Within that core, Design and Art Direction stand out. A specialist, not a generalist: the expertise is narrow but deep. Notably, no declared strategists in sight — this agency would rather make than philosophise.

SC

Stephan Celis

CEO & Co-Founder

XV

Xander Van Buggenhout

CCO & Co-Founder

BV

Benjamin Van Iseghem

Verse Developer

DV

Diana Vaisova

2D Artist

DW

Diego Wechselberg

Lua Developer

HS

Harald Stasta

Level Designer

MP

Miguel Pablo Tribo-Errazo

Level Designer

PF

Pasquale Fantetti

3D Artist

PC

Pedro Cardoso

3D Artist

RV

Ricardo Ventura

Game Designer

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

€ 44.253

-28% versus the median

Team composition

1,0 FTE

€ 44.253

Median Creatief bureau (2024) € 61.047All agencies (2024) € 59.045

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.

3

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 2023

/

Median for this type of agency (2024): 32,5%

Inflow 2023

111,1%

20232024

Figures for financial year 2023: in 2024 this agency published no inflow or outflow.

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.