Mutant
Mutant builds contemporary campaigns and brands for ambitious advertisers, from Nike and Zalando to VRT and Keytrade Bank. Independent, 40+ Mutants, offices in Antwerp and Amsterdam.
The content of this factsheet is in Dutch.
Mutant is an independent creative agency that mutates brands into what culture demands. Founded in Antwerp in 2019, opened a second hub in Amsterdam in 2024, and today 40+ people across strategy, creative, design and production.
We are known for two things that rarely sit in the same building: strategic thinking that starts from cultural tension, and a level of craft and design that holds up on an international stage. That combination is why we work for global brands like Nike, Eastpak and Zalando, for Belgian market leaders like VRT, Club Brugge, Keytrade Bank, Carrefour, ... and for public organisations that need to move a broad audience.
What we do
Mutant is a full-service creative agency: we take a brand from insight to idea to finished work, without handing it over to three other parties along the way.
- Research & cultural trend analysis
- Brand strategy, positioning & architecture
- Brand identity & design
- Campaign concepts & integrated creative
- Digital, social & content
- Experience and retail design (phygital)
- PR & brand reputation
- Production
How we work
- Culture first. Every strategy starts from a human paradox or a cultural tension, backed by our own research. It is the reason our work gets talked about instead of skipped.
- Design is not the last step. We run one of the strongest in-agency design teams in the Benelux, involved from day one. Because poor craft is where most campaigns lose their impact.
- Senior people on the work. The people you meet in the pitch are the people on your business. Flat team, short lines, decisions made in the room.
- Independent. No network mandates, no holding-company overhead. We choose partners per project and put the budget on screen.
- AI where it earns its place. We use it to take the routine out of the process, not to replace the thinking.
Who we work for
- International: Nike (across football, running, hybrid fitness and kids), Netflix, Zalando
- Belgium & Benelux: Keytrade Bank, VRT, Knack, De Standaard, Club Brugge, Carrefour and a broad portfolio of category leaders
- Public & purpose-driven organisations that need to reach and move a wide, diverse audience: Stad Hasselt, Knokke-Heist, Musea Brugge, 11.11.11, BOIC, ...
The team
Founded in 2019 by Odin Saillé (Chief Creative) and Maarten De Cuyper (Chief Business). The leadership team includes Chief Clients, Chief Strategy and Chief Design — each of them hands-on. 40+ people in Antwerp (HQ) and Amsterdam, working in eight languages, with a balanced M/F team at every level of the organisation.
Beyond the work
We publish The Mutant Eye, our own trends and insights series, and run our Antwerp space as a gallery for emerging talent at the intersection of digital and physical.
- Independent, founder-led. The people who decide are the people you talk to.
- Strategy and craft under one roof, including a full in-house design team.
- International proof, local availability: trusted by Nike and Zalando, while remaining a Benelux agency you can have in the room tomorrow.
- Awarded at Cannes Lions, D&AD, Effie Belgium, Creative Belgium, IAB MIXX, ...
- "The Brazilians of the Benelux: their approach is deeply emotional and culturally driven, and their level of execution is extremely crafty and meticulous." — The Drum, 2025
5× IAB MIXX Awards
3× Effie Awards Belgium
3× Creative Belgium Awards
2× Agency of the Year
1× Best of ActivationHow 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
Points to ask about- Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete
- Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete
- Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete
- Low value-added coverage · 31 Dec 2025 · NBBEvery euro of payroll generates less than 95 cents of added value. That happens in a build-up year, with a lot of subcontracting, or under pressure on rates. Ask what explains it here.
- Loss-making year · 31 Dec 2025 · NBBOne 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 · 26 Jun 2025 · StaatsbladThe registered office relocated. Usually just a new office.
What this agency does well
- Team grew (+7,0% FTE in the latest year)
- Healthy working capital (current ratio 1,37)
- Comfortable cash position: 73 days of payroll
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 | € 989.120 | € 843.928-14,7% | € 1,40 mln+65,9% | € 2,04 mln+45,4% | € 1,62 mln-20,6% |
| EBITDA | € 430.700 | € -54.681 | € 211.242 | € 491.698 | € -83.509 |
| EBITDA margin | 43,5% | -6,5% | 15,1% | 24,2% | -5,2% |
| Staff | |||||
| FTE | 9,0 | 13,6+51,1% | 17,8+30,9% | 22,8+28,1% | 24,4+7% |
| Gross margin per FTE | € 109.902 | € 62.054 | € 78.640 | € 89.264 | € 66.222 |
| Payroll cost per FTE | € 61.824 | € 65.856 | € 59.735 | € 60.777 | € 63.596 |
| Balance sheet | |||||
| Equity | € 393.590 | € 301.674 | € 404.551 | € 700.002 | € 509.505 |
| Cash | € 347.898 | € 15.078 | € 773.679 | € 487.845 | € 310.644 |
| Liquidity ratio | 1,37 | 1,20 | 1,81 | 1,99 | 1,37 |
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 30/07/2026. 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.
Sector focus
ambitieuze merken lokaal en globaal (breed, geen specifieke verticale focus vermeld)
From our own research. The agency hasn't listed its sectors yet.
Based on IKAg research and public sources. Incomplete or outdated? Let us know.
People 7 people mapped
We mapped 7 people, but this agency keeps job titles to itself — the team page sticks to names. Who does what is best asked over coffee.
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.
- 54% women
- 46% 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 2024: the last year for which nearly all accounts have been filed.
Award-winning work 14 award(s)
- Agency of the Year BronzeAgency of the Year · source ↗
- Creative Belgium Awards GoldRadio & Audio · “Ramadamadingdong / Studio Brussel” · source ↗
- Creative Belgium Awards GoldPR · “Ramadamadingdong / Studio Brussel” · source ↗
- IAB MIXX Awards SilverBest Corona Campaign · “Eén” · source ↗
- IAB MIXX Awards SilverBest Influencer Campaign · “Unicef” · source ↗
- IAB MIXX Awards GoldBest Charity Campaign · “Unicef” · source ↗
As published by the organising award shows, collected by IKAg.
Frequently asked questions about Mutant
- When was Mutant founded?
- In 2019.
- Where is Mutant located?
- In Antwerpen, Belgium.
- What is Mutant specialised in?
- Brand strategy & positioning, Marketing strategy, Research & consumer insights, Brand identity & design, Design systems & brand guidelines, Storytelling & narrative.
- How big is Mutant?
- Around 24 full-time equivalents (financial year 2025).
Figures from the annual accounts up to financial year 2025. Company details checked against the CBE register on 2026-09-12.