What is Thx Agency specialised in?

Paid social, Search advertising (SEA), Corporate communication, PR strategy & media relations.

How big is Thx Agency?

Around 3 full-time equivalents (financial year 2025).

Review: Thx Agency

Q: Who are the clients of Thx Agency?

Among others Visit Wallonia, VisitBrabant, NBTC, Eurowings, Düsseldorf Airport, Turismo de Tenerife, Tourismus NRW (urbanana), Aruba Tourism Authority, Interhome, Hannover Marketing & Tourism, Croatian National Tourist Board, Sunny Cars, Duitse Nationale Dienst voor Toerisme, FBAA (Busfan).

Thx Agency is een full-service bureau uit Diest, actief sinds 2021. Op de loonlijst staan ongeveer 3 voltijdse equivalenten. Het aanbod is gericht op pr & communicatie en paid media (sea/social/display). Het zwaartepunt ligt bij opdrachtgevers uit reis- en leisuresector in de benelux.

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: € 259.431 gross margin, growth +10,3% against a sector median of +1,7%.

At or above sector pace

MarginEBITDA / gross margin · value-added coverage

2022202320242025

Thx AgencySector median

EBITDA margin 38,3%, sector median 23,9%. Value-added coverage 1,62 (median 1,27).

Healthy margin

Revenue per headGross margin per FTE, against payroll cost

€ 83.688

Median (2024) € 72.161

Against a payroll cost of € 51.440 per FTE. The ratio between the two is the coverage rate above.

Above the median

Yield levelYield per hour worked, against payroll cost

€ 50

Median (2024) € 44

5.189 hours worked, 1.674 per FTE. Against that sits € 31 of payroll cost per hour worked, leaving € 19 for premises, equipment, depreciation and profit.

Above 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: 6,8 months (median 5,8 mo). Equity in the latest year: € 89.786.

Adequate buffer

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

Cash € 363.353. Liquidity ratio 2,29: current assets cover short-term debt in full. Solvency 10,9%.

Amply covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 318 days of supplier credit, sector median 61. The accounts were filed 181 days after closing; the legal deadline is seven months.

Pays slower than average

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

No serious signals

Signals in the last 24 months

Zichtbaarheid verschoven · 1 Nov 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete

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.

What this agency does well

EBITDA margin above the sector median (38,3%)
Profitable in every one of the last 4 years
Strong buffer: 6,8 months of payroll in equity
Team grew (+3,3% FTE in the latest year)
Value-added per euro of payroll above the sector median (1,62)
Healthy working capital (current ratio 2,29)
Comfortable cash position: 832 days of payroll

Each point is a fact from the filed annual accounts, measured against the same thresholds and sector medians as the signals above.

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	€ 178.031	€ 308.250+73,1%	€ 235.131-23,7%	€ 259.431+10,3%
EBITDA	€ 54.327	€ 148.787	€ 77.518	€ 99.271
EBITDA margin	30,5%	48,3%	33%	38,3%
Staff
FTE	2,3	3,0+30,4%	3,00%	3,1+3,3%
Gross margin per FTE	€ 77.405	€ 102.750	€ 78.377	€ 83.688
Payroll cost per FTE	€ 41.179	€ 47.254	€ 52.092	€ 51.440
Balance sheet
Equity	€ 19.925	€ 91.250	€ 110.831	€ 89.786
Cash	€ 274.312	€ 250.946	€ 116.413	€ 363.353
Liquidity ratio	1,54	1,65	1,88	2,29

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 30/06/2026. 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 2024: the last year for which nearly all accounts have been filed.

What the agency actually does 4 services

Media

Paid social Search advertising (SEA)

PR & Reputation

Corporate communication PR strategy & media relations

Sector focus

Travel & hospitalityPublic sector & government

Publicly known clients

Visit Wallonia, VisitBrabant, NBTC, Eurowings, Düsseldorf Airport, Turismo de Tenerife, Tourismus NRW (urbanana), Aruba Tourism Authority, Interhome, Hannover Marketing & Tourism, Croatian National Tourist Board, Sunny Cars, Duitse Nationale Dienst voor Toerisme, FBAA (Busfan)

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

1

People 9 people mapped

This team is built around client service: 4 of 9 are account & project. Within that core, Klantbeheer and Relatiebeheer stand out. The titles skew top-heavy: lots of seniority, few juniors — you're mostly buying experience. One strategist on board — enough to hold the direction, not to fill meetings.

AM

Anna Mechelmans

Jr. Account Manager

JL

Jeroen Libbrecht

Strategic Director

JT

Jo Thuys

Account Director

JS

Julie Schoefs

Account Manager

JB

Julija Bugarski

Finance & Account Manager

KV

Kris Van den Broeck

Commercial Director

NV

Niel Van Herck

Creative Director

WV

Wendy van den Boom

Account Manager

RO

Robin Ollevier

Digital Marketeer

Based on public profiles. Something wrong? Let us know.

2

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

€ 51.440

-10% versus the median

Team composition

3,1 FTE

€ 51.440

Median Full-service bureau (2024) € 57.083All agencies (2024) € 59.021

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.

3

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 2025

96,8%

Median for this type of agency (2024): 32,8%

Inflow 2025

96,8%

3,0 FTE in, 3,0 FTE out

Net team change

0,0 FTE

2022202320242025

Exits are clearly above what is usual for this type of agency. That may reflect project-based staffing, but it is a reason to ask in the pitch how much of the proposed team was already here two years ago, and to contractually fix your permanent contacts.

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.