What is Matter specialised in?

Marketing strategy, Content strategy & editorial, Copywriting & long-form content, Video production, Organic social content, Social strategy & platform mix.

Around 8 full-time equivalents (financial year 2025).

Which sectors does Matter work for?

Finance & insurance, Logistics & transport, Retail & e-commerce.

Who are the clients of Matter?

Among others Allerhande, Rabobank.

Review: Matter

Matter werkt ruim veertig jaar als contentbureau uit Kontich. Met ongeveer 8 VTE is dit een middelgroot bureau. Het bureau combineert content & copy, strategie, social media en video & productie. Het zwaartepunt ligt bij opdrachtgevers uit transport en mobiliteit, bank en financiele diensten en retail en retail media. Publiek gekende klanten zijn onder meer Allerhande en Rabobank.

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

20212022202320242025

Latest year: € 2,84 mln gross margin, growth -7,4% against a sector median of -14,9%.

Shrinking

MarginEBITDA / gross margin · value-added coverage

20212022202320242025

MatterSector median

EBITDA margin 11%, sector median 20,9%. Value-added coverage 1,40 (median 1,21).

Below sector level

Revenue per headGross margin per FTE, against payroll cost

€ 345.915

Median (2025) € 69.584

Against a payroll cost of € 93.918 per FTE. The ratio between the two is the coverage rate above.

Above the median

Yield levelYield per hour worked, against payroll cost

€ 216

Median (2025) € 47

13.131 hours worked, 1.601 per FTE. Against that sits € 59 of payroll cost per hour worked, leaving € 157 for premises, equipment, depreciation and profit.

Above 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: 7,2 months (median 6,7 mo). Equity in the latest year: € 460.509.

Adequate buffer

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

Cash € 1,13 mln. Liquidity ratio 1,29: current assets cover short-term debt in full. Solvency 23,8%.

Amply covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 137 days of supplier credit, sector median 78. The accounts were filed 153 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

No serious signals

Signals in the last 24 months

Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete
Board change · 9 May 2025 · Staatsblad
Appointments or resignations on the board. Routine during growth, succession or a new partner. Ask about it when several changes follow each other closely.
Registered office moved · 21 Mar 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

Outgrew the sector median 3 years running
Strong buffer: 7,2 months of payroll in equity
Value-added per euro of payroll above the sector median (1,40)
Healthy working capital (current ratio 1,29)
Equity was earned, not injected (reserves 7,6× the capital contributed)
Comfortable cash position: 538 days of payroll
Turnover below the median (22,0%)

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.

5 financial years, 2021 to 2025Result, staff and balance sheet

	2021	2022	2023	2024	2025
Result
Gross margin	€ 4,02 mln	€ 2,85 mln-29,2%	€ 3,08 mln+8,1%	€ 3,06 mln-0,5%	€ 2,84 mln-7,4%
EBITDA	€ 545.893	€ -119.207	€ 239.891	€ 480.079	€ 311.040
EBITDA margin	13,6%	-4,2%	7,8%	15,7%	11%
Staff
FTE	8,1	8,0-1,2%	7,9-1,2%	8,5+7,6%	8,2-3,5%
Gross margin per FTE	€ 496.539	€ 356.169	€ 389.779	€ 360.500	€ 345.915
Payroll cost per FTE	€ 65.572	€ 72.410	€ 86.813	€ 84.672	€ 93.918
Balance sheet
Equity	€ 562.179	€ 436.225	€ 625.272	€ 948.078	€ 460.509
Cash	€ 440.096	€ 813.147	€ 1,47 mln	€ 1,57 mln	€ 1,13 mln
Liquidity ratio	1,21	1,22	1,23	1,52	1,29

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 02/06/2026. 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 6 services

Strategy & Insights

Marketing strategy

Content & Production

Content strategy & editorial Copywriting & long-form content Video production

Social, Influencer & Community

Organic social content Social strategy & platform mix

Sector focus

Finance & insuranceRetail & e-commerce

Publicly known clients

AllerhandeRabobank

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

1

People 2 people mapped

DD

Dominique Dervoigne

General Manager

EG

Eefje Gubbens

Director of Partnerships & Growth

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

€ 93.918

+64% versus the median

Team composition

8,2 FTE

90% women
10% men

€ 93.918

Median Contentbureau (2025) € 57.167All agencies (2025) € 62.294

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 2025

22,0%

Median for this type of agency (2025): 43,9%

Inflow 2025

12,2%

1,0 FTE in, 1,8 FTE out

Net team change

-0,8 FTE

20212022202320242025

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.