What is Mather specialised in?

Brand strategy & positioning, Marketing strategy, Brand identity & design, Website development, Website strategy & UX.

Around 1 full-time equivalent (financial year 2022).

Review: Mather

Q: Who are the clients of Mather?

Among others Breinstorm, Juhla, Pritz, Favorite Family, Plooy yogastudio, PAS, Buur&Berg, BuroMuro, Cera.

Vanuit Hasselt werkt Mather sinds 2017 als brandingbureau. Ze werken rond strategie, branding & identiteit, ux/ui design en webdevelopment. Het zwaartepunt ligt bij opdrachtgevers uit generalistisch (merken die helder/sterk willen positioneren). Uit de publiek bekende klantenlijst: Breinstorm, Juhla, Pritz en Favorite Family.

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

202020212022

Latest year: € 59.024 gross margin, growth +105,2% against a sector median of +16,6%.

At or above sector pace

MarginEBITDA / gross margin · value-added coverage

202020212022

MatherSector median

EBITDA margin 29,7%, sector median 29,4%. Value-added coverage 1,43 (median 1,30).

Healthy margin

Revenue per headGross margin per FTE, against payroll cost

€ 53.658

Median (2024) € 78.994

Against a payroll cost of € 37.335 per FTE. The ratio between the two is the coverage rate above.

Below the median

Yield levelYield per hour worked, against payroll cost

€ 33

Median (2024) € 47

1.765 hours worked, 1.605 per FTE. Against that sits € 23 of payroll cost per hour worked, leaving € 10 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: 9,7 months (median 6,4 mo). Equity in the latest year: € 33.230.

Adequate buffer

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

Cash € 19.338. Liquidity ratio 2,56: current assets cover short-term debt in full. Solvency 64,5%.

Amply covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 26 days of supplier credit, sector median 74. The accounts were filed 255 days after closing; the legal deadline is seven months.

Filed late

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

Points to ask about

Signals in the last 24 months

Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete
Late filing · 26 Aug 2026 · NBB
The annual accounts were filed after the statutory deadline. Over a third of the sector does this, usually because of the accountant's calendar. Rarely a story in itself.
Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete
Loss-making year · 31 Dec 2025 · NBB
One financial year closed at a loss. The size is not shown here: it can be a few thousand euros, a one-off settlement, or a deliberate investment. Ask the agency what was behind it.
Registered office moved · 12 Feb 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

EBITDA margin above the sector median (29,7%)
Strong buffer: 9,7 months of payroll in equity
Value-added per euro of payroll above the sector median (1,43)
Healthy working capital (current ratio 2,56)
Equity was earned, not injected (reserves 32,2× the capital contributed)
Comfortable cash position: 172 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.

3 financial years, 2020 to 2022Result, staff and balance sheet

	2020	2021	2022
Result
Gross margin	€ 0	€ 28.767	€ 59.024+105,2%
EBITDA	-	€ -18.166	€ 17.546
EBITDA margin	-	-63,1%	29,7%
Staff
FTE	-	1,6	1,1-31,3%
Gross margin per FTE	-	€ 17.979	€ 53.658
Payroll cost per FTE	-	€ 29.333	€ 37.335
Balance sheet
Equity	-	€ 20.674	€ 33.230
Cash	-	€ 24.957	€ 19.338
Liquidity ratio	-	1,49	2,56

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 26/08/2026. 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 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 5 services

Strategy & Insights

Brand strategy & positioning Marketing strategy

Branding & Design

Brand identity & design

Digital Experience & Tech

Website development Website strategy & UX

Sector focus

Real estate & constructionFashion & lifestyleHealth & pharma

Publicly known clients

BreinstormJuhlaPritzFavorite FamilyPlooy yogastudioPASBuur&BergBuroMuroCera

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

1

People 1 people mapped

KV

Katrien Van de Cruys

Based on public profiles. Something wrong? Let us know.

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 2022

145,5%

Median for this type of agency (2024): 33,9%

Inflow 2022

/

20212022

Figures for financial year 2022: in 2025 this agency published no inflow or outflow.

Exits are clearly above what is usual for this type of agency. That may reflect project-based staffing, but it is a reason to ask in the pitch how much of the proposed team was already here two years ago, and to contractually fix your permanent contacts.

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 2024: the last year for which nearly all accounts have been filed.