Raccoons
The content of this factsheet is in Dutch.
Raccoons, opgericht in 2019, is een softwarebureau uit Heverlee. De focus ligt op ai & automatisering, webdevelopment en data & analytics. De ervaring zit vooral in enterprise / breed b2b met ai-behoefte.
How 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
2 red flag(s) (24m)- 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.
- Critical buffer · 31 Dec 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.
- 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.
- + 3 older signals within 24m
What this agency does well
- EBITDA margin above the sector median (92,4%)
- Team grew (+30,0% FTE in the latest year)
- Value-added per euro of payroll above the sector median (13,61)
All the figures
Reference material, not a starting point. Expand it if you want to read the series yourself.
4 financial years, 2021 to 2024Result, staff and balance sheet
| 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|
| Result | ||||
| Gross margin | € -149.703 | € -226.580 | € -93.141 | € 1,10 mln |
| EBITDA | € -203.459 | € -291.859 | € -273.232 | € 1,02 mln |
| EBITDA margin | - | - | - | 92,4% |
| Staff | ||||
| FTE | 1,0 | 1,00% | 1,00% | 1,3+30% |
| Gross margin per FTE | € -149.703 | € -226.580 | € -93.141 | € 848.919 |
| Payroll cost per FTE | € 53.005 | € 63.797 | € 58.044 | € 62.188 |
| Balance sheet | ||||
| Equity | € -273.203 | € -620.516 | € -977.856 | € 36.513 |
| Cash | € 10.367 | € 5.729 | € 13.792 | € 5.374 |
| Liquidity ratio | 0,19 | 0,17 | 0,24 | 0,31 |
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 27/07/2026. 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 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
Bank Van Breda, Maastro, CrediBill, KU Leuven, Stad Mechelen, Mobile Vikings, VITO, Acco, Vives, FIT, VTM, Ethias, PSA Belgium, Acerta, Van Marcke
Based on IKAg research and public sources. Incomplete or outdated? Let us know.
People 20 people mapped
This is first a build crew — 8 of 20 are developers. Within that core, Full Stack, Frontend and UX/UI Design stand out. There are 3 strategists around — expect thinking first, pixels second.
Based on public profiles. Something wrong? Let us know.
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.
Figures for financial year 2024: in 2025 this agency published no inflow or outflow.
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 Raccoons
- When was Raccoons founded?
- In 2019.
- Where is Raccoons located?
- In Leuven, Belgium.
- What is Raccoons specialised in?
- AI & innovation strategy, Website development, Dashboards & reporting, Data science & analytics (incl. predictive modelling).
- How big is Raccoons?
- Around 1 full-time equivalent (financial year 2024).
- Who are the clients of Raccoons?
- Among others Bank Van Breda, Maastro, CrediBill, KU Leuven, Stad Mechelen, Mobile Vikings, VITO, Acco, Vives, FIT, VTM, Ethias, PSA Belgium, Acerta, Van Marcke.
Figures from the annual accounts up to financial year 2024. Company details checked against the CBE register on 2026-10-13.