How big is Moose-stache?

Around 6 full-time equivalents (financial year 2025).

Review: Moose-stache

Q: Who are the clients of Moose-stache?

Among others Pierret, Katoen Natie, Poppies Bakeries, VDAB, Wetteraad, Xander De Rycke, Dionysos Now!, Kasteel Beauvoorde, ABB Group, Het Steen Antwerpen, Saroléa, Wannes Capelle, Hans Cools, Kamal Karmach.

Moose-stache is al ruim tien jaar actief als productiehuis uit Gent. Met ongeveer 6 VTE is dit een middelgroot bureau. Het aanbod is gericht op video & productie. Sectoren waar het bureau vaak werkt: breed b2b (bedrijfsfilm en commercials).

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: € 391.557 gross margin, growth -22% against a sector median of +11,2%.

Shrinking

MarginEBITDA / gross margin · value-added coverage

20212022202320242025

Moose-stacheSector median

EBITDA margin 26,5%, sector median 41,6%. Value-added coverage 1,38 (median 1,44).

Healthy margin

Revenue per headGross margin per FTE, against payroll cost

€ 71.192

Median (2024) € 71.844

Against a payroll cost of € 49.376 per FTE. The ratio between the two is the coverage rate above.

Around the median

Yield levelYield per hour worked, against payroll cost

€ 40

Median (2024) € 44

9.841 hours worked, 1.789 per FTE. Against that sits € 28 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: 1,9 months (median 9,2 mo). Equity in the latest year: € 43.312.

Thin buffer

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

Cash € 40.887. Liquidity ratio 0,79: current assets cover short-term debt not in full. Solvency 3,5%.

Not covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 50 days of supplier credit, sector median 43. The accounts were filed 70 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

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.
Thin buffer · 31 Dec 2025 · NBB
Equity covers less than three months of payroll. A limited reserve, and at many smaller agencies the normal state of affairs. Ask how the agency absorbs a setback.
Registered office moved · 28 Nov 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

Equity was earned, not injected (reserves 6,7× the capital contributed)

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	€ 444.200	€ 399.822-10%	€ 329.700-17,5%	€ 501.714+52,2%	€ 391.557-22%
EBITDA	€ 218.073	€ 157.098	€ 29.598	€ 217.268	€ 103.646
EBITDA margin	49,1%	39,3%	9%	43,3%	26,5%
Staff
FTE	5,9	6,3+6,8%	6,7+6,3%	6,0-10,4%	5,5-8,3%
Gross margin per FTE	€ 75.288	€ 63.464	€ 49.209	€ 83.619	€ 71.192
Payroll cost per FTE	€ 38.364	€ 37.031	€ 41.785	€ 44.882	€ 49.376
Balance sheet
Equity	€ 234.490	€ 200.533	€ 46.461	€ 93.960	€ 43.312
Cash	€ 188.805	€ 37.413	€ 24.290	€ 31.327	€ 40.887
Liquidity ratio	1,30	1,02	0,59	0,87	0,79

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 11/03/2026. 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 1 services

Content & Production

Video production

Sector focus

Media & entertainmentPublic sector & governmentFood & beverageB2B services

Publicly known clients

Pierret, Katoen Natie, Poppies Bakeries, VDAB, Wetteraad, Xander De Rycke, Dionysos Now!, Kasteel Beauvoorde, ABB Group, Het Steen Antwerpen, Saroléa, Wannes Capelle, Hans Cools, Kamal Karmach

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

1

People 7 people mapped

Media is the craft: 5 of 7 are media profiles. Within that core, Productie and Video stand out. A specialist, not a generalist: the expertise is narrow but deep.

WH

Wino Hoogerwijs

CEO

EG

Emiel Gallet

Productie

ER

Evert Rogiers

Cameraman & monteur

IG

Ian Ghysels

Creative producer

MD

Matt Debo

Cameraman & monteur

ST

Simon Thys

Monteur

WD

Wannes De Fauw

Cameraman & monteur

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

€ 49.376

-3% versus the median

Team composition

5,5 FTE

€ 49.376

Median Productiehuis (2024) € 51.086All 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.

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

45,5%

Median for this type of agency (2024): 30,6%

Inflow 2025

36,4%

2,0 FTE in, 2,5 FTE out

Net team change

-0,5 FTE

20212022202320242025

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.