Willow
The content of this factsheet is in Dutch.
Willow is een social media bureau uit Gent, actief sinds 2018. Er werken ongeveer 5 mensen, uitgedrukt in voltijdse equivalenten. Het bureau is toegespitst op social media en content & copy.
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
4 red flag(s) (24m)- Sharp headcount decline · 31 Dec 2025 · NBBAverage headcount fell by 15% or more in a year. That can be contraction, and just as easily a deliberate choice for fewer but more experienced people. Ask who left and who came in their place.
- Two consecutive loss-making years · 31 Dec 2025 · NBBTwo financial years in a row closed at a loss. That can be an investment period, or a client that fell away. Ask what explains the pattern and what has changed since.
- Sharp headcount decline · 31 Dec 2024 · NBBAverage headcount fell by 15% or more in a year. That can be contraction, and just as easily a deliberate choice for fewer but more experienced people. Ask who left and who came in their place.
- Critical buffer · 31 Dec 2024 · 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.
- Negative equity · 31 Dec 2024 · NBBDebts exceed assets. Sometimes a subordinated shareholder loan sits opposite that, sometimes not. Ask how the agency is covering this, and on what timescale.
- Two consecutive loss-making years · 31 Dec 2024 · NBBTwo financial years in a row closed at a loss. That can be an investment period, or a client that fell away. Ask what explains the pattern and what has changed since.
- + 2 older signals within 24m
What this agency does well
- EBITDA margin above the sector median (40,6%)
- Strong buffer: 7,7 months of payroll in equity
- Value-added per euro of payroll above the sector median (1,68)
- Margin per hour worked rose 2 years in a row
- Comfortable cash position: 256 days of payroll
- Turnover below the median (20,0%)
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 | € -484.162 | € -265.711 | € 204.315 | € 223.755+9,5% | € 379.223+69,5% |
| EBITDA | € -725.484 | € -924.917 | € -626.013 | € -234.783 | € 153.783 |
| EBITDA margin | - | - | - | - | 40,6% |
| Staff | |||||
| FTE | 5,7 | 10,0+75,4% | 13,6+36% | 8,4-38,2% | 5,0-40,5% |
| Gross margin per FTE | € -84.941 | € -26.571 | € 15.023 | € 26.637 | € 75.845 |
| Payroll cost per FTE | € 42.128 | € 65.792 | € 60.973 | € 54.549 | € 45.088 |
| Balance sheet | |||||
| Equity | € 683.144 | € 640.188 | € 2.692 | € -166.893 | € 143.988 |
| Cash | € 931.168 | € 0 | € 197.438 | € 106.945 | € 158.139 |
| Liquidity ratio | 3,05 | 2,69 | 1,02 | 0,49 | 0,87 |
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 03/07/2026. 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 21 Sep 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
Sector focus
Publicly known clients
Verzekeringskantoor Coenen, Farrow, Nutra Health, Pono, Fieldside, Itineris, Vulsteke, Testersuite, Groep Verhelst, Enjoy Jobs, Acs
Based on IKAg research and public sources. Incomplete or outdated? Let us know.
People 3 people mapped
A small team: short lines, little noise between you and the makers.
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.
- 40% women
- 60% 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.
Frequently asked questions about Willow
- When was Willow founded?
- In 2018.
- Where is Willow located?
- In Gent, Belgium.
- What is Willow specialised in?
- Content strategy & editorial, Copywriting & long-form content, Organic social content, Social strategy & platform mix.
- How big is Willow?
- Around 5 full-time equivalents (financial year 2025).
- Who are the clients of Willow?
- Among others Verzekeringskantoor Coenen, Farrow, Nutra Health, Pono, Fieldside, Itineris, Vulsteke, Testersuite, Groep Verhelst, Enjoy Jobs, Acs.
Figures from the annual accounts up to financial year 2025. Company details checked against the CBE register on 2026-09-12.