Multiminds: data & customer experience agency
Multiminds analyseert en ontsluit complexe datastromen om een betere customer experience te verzorgen. Ze zijn een onafhankelijke partij voor de analyse van digitale kanalen, en verbeteren op basis van data conversie en UX.
The content of this factsheet is in Dutch.
Multiminds werkt ruim tien jaar als data-, crm- & martechbureau uit Aalst. De bezetting ligt rond 12 VTE. Ze werken rond data & analytics, crm & marketing automation en paid media (sea/social/display). De ervaring zit vooral in grote organisaties (retail, pharma, media en mutualiteiten. Publiek gekende klanten zijn onder meer Colruyt Group, Dechra Pharmaceuticals, Partenamut en NORTV.
Voor complexe technische expertise
Multiminds analyseert en ontsluit complexe datastromen om een betere customer experience te verzorgen. Ze zijn een onafhankelijke partij voor de analyse van digitale kanalen, en verbeteren op basis van data conversie en UX.
Ze werken een data-strategie uit; daarnaast verbinden ze data-silos, installeren CDP’s, ontwikkelen dashboards om de data op een correcte, samengebrachte manier te analyseren en daaruit aanbevelingen te leveren.
Ze werken liefst voor complexe organisaties (multi-brand en/of multi-country), en zijn bedreven in het samenwerken met complexe ecosystemen van agencies.
Multiminds bestaat uit een team van 24 VTE, waaronder:
- 2 zaakvoerders
- 3 strategen (IT en business)
- 5 business analisten
- 7 technische developers
Wat ze niet doen: content, websites, media
Zelf omschrijven ze hun cultuur als: vertrouwen, customer intimate, stabiel, integrerend, transparant, kennis delen
Referentieklanten: Colruyt, Teva, Kitchenaid, Dechra, Mediahuis, VRT, Perrigo, PartenaMut, UNICEF Belgium
Gepercipieerde concurrenten: Human37, Deloitte, PWC, Accenture, Stitchd, Element61
Voorbeelden: Zaaz, IIH Nordic
Ondernemingsnummer: 0554.690.837
Gemiddelde klantgrootte: 750k
2× Feweb Excellence AwardsHow 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
1 red flag(s) (24m)- Sharp drop in equity · 30 Jun 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.
- Critical buffer · 30 Jun 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.
What this agency does well
- Gross margin grew 3 years in a row
- EBITDA margin above the sector median (25,0%)
- Value-added per euro of payroll above the sector median (1,33)
- Margin per hour worked rose 3 years in a row
- Comfortable cash position: 151 days of payroll
- Turnover below the median (34,2%)
All the figures
Reference material, not a starting point. Expand it if you want to read the series yourself.
4 financial years, 2022 to 2025Result, staff and balance sheet
| 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|
| Result | ||||
| Gross margin | € 723.973 | € 983.604+35,9% | € 994.676+1,1% | € 1,29 mln+30,2% |
| EBITDA | € 81.668 | € 40.896 | € -20.872 | € 323.114 |
| EBITDA margin | 11,3% | 4,2% | -2,1% | 25% |
| Staff | ||||
| FTE | 11,9 | 13,7+15,1% | 13,0-5,1% | 11,7-10% |
| Gross margin per FTE | € 60.838 | € 71.796 | € 76.514 | € 110.680 |
| Payroll cost per FTE | € 53.864 | € 68.711 | € 78.041 | € 82.735 |
| Balance sheet | ||||
| Equity | € 92.332 | € 75.072 | € -5.636 | € 29.023 |
| Cash | € 111.428 | € 55.025 | € 165.066 | € 401.088 |
| Liquidity ratio | 1,47 | 1,03 | 1,09 | 1,12 |
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 13/11/2025. 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 2 Nov 2026. Sector medians based on financial year 2025: the last year for which nearly all accounts have been filed.
Sector focus
Publicly known clients
Based on IKAg research and public sources. Incomplete or outdated? Let us know.
People 33 people mapped
Data is in the DNA: 10 of 33 profiles are data people. Within that core, Data-analyse, Reporting and Tracking stand out. One strategist on board — enough to hold the direction, not to fill meetings. At 33+ people, there's capacity for several tracks at once.
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.
- 17% women
- 83% 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 Multiminds
- When was Multiminds founded?
- In 2014.
- Where is Multiminds located?
- In Aalst, Belgium.
- What is Multiminds specialised in?
- Paid social, Search advertising (SEA), CRM & lifecycle strategy, Marketing automation, Dashboards & reporting, Data science & analytics (incl. predictive modelling).
- How big is Multiminds?
- Around 12 full-time equivalents (financial year 2025).
- Which sectors does Multiminds work for?
- Public sector & non-profit, Retail & e-commerce, Telecom & media, Healthcare & pharma.
- Who are the clients of Multiminds?
- Among others Colruyt, Teva, Kitchenaid, Dechra, Mediahuis, VRT, Perrigo, PartenaMut.
Figures from the annual accounts up to financial year 2025. Company details checked against the CBE register on 2026-10-13.