Seeders
Seeders builds undeniable Search Authority for (enterprise) brands across traditional search, AI engines, and local publishing—turning search into a scalable, predictable growth engine.
The content of this factsheet is in Dutch.
Sinds 2020 is Seeders actief als performance- & mediabureau uit Antwerpen. Met ongeveer 5 VTE is dit een middelgroot bureau.
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
No serious signals- Board change · 9 Jun 2026 · StaatsbladAppointments or resignations on the board. Routine during growth, succession or a new partner. Ask about it when several changes follow each other closely.
- Board change · 22 Jul 2025 · StaatsbladAppointments or resignations on the board. Routine during growth, succession or a new partner. Ask about it when several changes follow each other closely.
What this agency does well
- EBITDA margin above the sector median (55,3%)
- Profitable in every one of the last 5 years
- Strong buffer: 14,0 months of payroll in equity
- Value-added per euro of payroll above the sector median (2,27)
- Healthy working capital (current ratio 1,98)
- Equity was earned, not injected (reserves 20,9× the capital contributed)
- Comfortable cash position: 259 days of payroll
- Turnover below the median (22,2%)
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 | € 193.999 | € 365.017+88,2% | € 489.429+34,1% | € 467.912-4,4% | € 644.111+37,7% |
| EBITDA | € 120.226 | € 164.314 | € 268.386 | € 201.791 | € 356.285 |
| EBITDA margin | 62% | 45% | 54,8% | 43,1% | 55,3% |
| Staff | |||||
| FTE | 2,6 | 5,9+126,9% | 5,4-8,5% | 5,6+3,7% | 5,4-3,6% |
| Gross margin per FTE | € 74.615 | € 61.867 | € 90.635 | € 83.556 | € 119.280 |
| Payroll cost per FTE | € 28.142 | € 33.602 | € 40.503 | € 51.459 | € 52.080 |
| Balance sheet | |||||
| Equity | € 104.874 | € 202.479 | € 398.665 | € 63.141 | € 329.068 |
| Cash | € 190.239 | € 205.504 | € 519.112 | € 267.447 | € 199.829 |
| Liquidity ratio | 1,66 | 1,63 | 2,15 | 1,11 | 1,98 |
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 29/04/2026. 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.
Coming soon
We're working on this part of the factsheet.
Coming soon
We're working on this part of the factsheet.
People 70 people mapped
Digital marketing is the engine: 29 of 70 profiles sit there. Within that core, Content Marketing, SEA and SEO stand out. There are 5 strategists around — expect thinking first, pixels second. At 70+ 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.
- 79% women
- 21% 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 Seeders
- When was Seeders founded?
- In 2020.
- Where is Seeders located?
- In Antwerpen, Belgium.
- How big is Seeders?
- Around 5 full-time equivalents (financial year 2025).
Figures from the annual accounts up to financial year 2025. Company details checked against the CBE register on 2026-10-09.