What is Restless Minds specialised in?

Brand strategy & positioning, Marketing strategy, Brand identity & design.

How big is Restless Minds?

Around 4 full-time equivalents (financial year 2025).

Review: Restless Minds

Sinds 2021 is Restless Minds actief als brandingbureau uit Kontich. Op de loonlijst staan ongeveer 4 voltijdse equivalenten. Het aanbod is gericht op strategie en branding & identiteit. Sectoren waar het bureau vaak werkt: bedrijven en merken en overheden. Tot de publiek bekende klanten behoren Xerius.

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

2022202320242025

Latest year: € 222.200 gross margin, growth - against a sector median of +6,6%.

Not enough history

MarginEBITDA / gross margin · value-added coverage

2022202320242025

Restless MindsSector median

EBITDA margin -24,3%, sector median 32,2%. Value-added coverage 0,80 (median 1,29).

Loss-making

Revenue per headGross margin per FTE, against payroll cost

€ 56.974

Median (2025) € 82.809

Against a payroll cost of € 70.393 per FTE. The ratio between the two is the coverage rate above.

Below the median

Yield levelYield per hour worked, against payroll cost

€ 39

Median (2025) € 48

5.724 hours worked, 1.468 per FTE. Against that sits € 48 of payroll cost per hour worked, leaving € -9 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: -24,2 months (median 6,3 mo). Equity in the latest year: € -553.799.

Critical buffer

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

Cash € 7.612. Liquidity ratio 0,34: current assets cover short-term debt not in full. Solvency -192,4%.

Not covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 43 days of supplier credit, sector median 68. The accounts were filed 208 days after closing; the legal deadline is seven months.

Pays and files on time

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

4 red flag(s) (24m)

Signals in the last 24 months

Zichtbaarheid verschoven · 1 Oct 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Oct 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete
Critical buffer · 31 Dec 2025 · NBB
Equity 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.
+ 7 older signals within 24m

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.

4

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	€ 234.445	€ 187.443-20%	€ -150.965-180,5%	€ 222.200
EBITDA	€ 49.909	€ -51.542	€ -475.949	€ -54.078
EBITDA margin	21,3%	-27,5%	-	-24,3%
Staff
FTE	3,0	2,7-10%	4,0+48,1%	3,9-2,5%
Gross margin per FTE	€ 78.148	€ 69.423	€ -37.741	€ 56.974
Payroll cost per FTE	€ 60.930	€ 87.928	€ 80.790	€ 70.393
Balance sheet
Equity	€ 89.475	€ 35.732	€ -458.754	€ -553.799
Cash	€ 5.651	€ 8.269	€ 7.526	€ 7.612
Liquidity ratio	1,50	1,15	0,33	0,34

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 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.

What the agency actually does 3 services

Strategy & Insights

Brand strategy & positioning Marketing strategy

Branding & Design

Brand identity & design

Sector focus

Bedrijvenmerken en overheden

From our own research. The agency hasn't listed its sectors yet.

Publicly known clients

Xerius

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

1

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

€ 70.393

+15% versus the median

Team composition

3,9 FTE

€ 70.393

Median Brandingbureau (2025) € 60.980All 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.

2

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 2024

45,0%

Median for this type of agency (2025): 38,9%

Inflow 2024

95,0%

3,8 FTE in, 1,8 FTE out

Net team change

+2,0 FTE

2022202320242025

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.