BOA
We evolve and grow together with our clients and build solid foundations that lead to long time partnerships. BOA believes in a full-service approach of projects .
The content of this factsheet is in Dutch.
BOA is a full-service agency that helps brands communicate better, faster, smarter and more consistently, from strategy through to production. From our creative studio in Lauwe, we've built a solid reputation in business and brand strategy, branding, photography, video, design and digital implementations. Every project starts from a sharp strategic foundation, which we translate into creative work and content that truly matters. In recent years we've also invested heavily in our own AI-driven production model, allowing us to deliver high-quality visual content up to 50% cheaper and up to five times faster, without compromising on quality or creativity. From SMEs to international businesses, BOA guides brands from strategy and creation through to production at scale, with one dedicated team and a single point of contact.
Our team of 40 FTEs is organised into six divisions: BOA Strategy, BOA Branding & Graphic Design, BOA Digital, BOA Digital Marketing, BOA Video & Photography, and our own BOA AI Studio. Personal, engaged client contact is central to how we work: our team listens closely to each client's needs and wishes, proactively adds value and stays closely involved once a project is up and running, reacting rapidly whenever needed. Our true strength, though, lies in our people. The diversity of talent, services and disciplines gives us an approach like no other.
BOA is a full-service agency that helps brands communicate better, faster, smarter and more consistently, from strategy through to production. From our creative studio in Lauwe, we've built a solid reputation in business and brand strategy, branding, photography, video, design and digital implementations. Every project starts from a sharp strategic foundation, which we translate into creative work and content that truly matters. In recent years we've also invested heavily in our own AI-driven production model, allowing us to deliver high-quality visual content up to 50% cheaper and up to five times faster, without compromising on quality or creativity. From SMEs to international businesses, BOA guides brands from strategy and creation through to production at scale, with one dedicated team and a single point of contact.
Our team of 40 FTEs is organised into six divisions: BOA Strategy, BOA Branding & Graphic Design, BOA Digital, BOA Digital Marketing, BOA Video & Photography, and our own BOA AI Studio. Personal, engaged client contact is central to how we work: our team listens closely to each client's needs and wishes, proactively adds value and stays closely involved once a project is up and running, reacting rapidly whenever needed. Our true strength, though, lies in our people. The diversity of talent, services and disciplines gives us an approach like no other.
BOA is a diverse, dynamic group of professionals who think and act as one.
What sets us apart
Our true strength, lies in our people. The diversity of talent, services and disciplines gives us an approach like no other. BOA is a diverse, dynamic group of professionals who think and act as one. Also the close cooperation of our 6 divisions sets us apart. The personal, engaged contact with our clients and our divers team of multi-talented professionals .
Our expertise
At BOA, every project starts with thinking commercially alongside the client and a clear business and brand strategy, not a standalone concept or a production request. Only once that strategic and commercial foundation is in place does creativity come into play. This ensures that every campaign, every design and every piece of content contributes to a consistent, well-considered brand positioning, rather than one-off, disconnected outputs.
Network & partnerships
BOA combines a dedicated in-house team with a trusted network of freelance specialists, allowing us to flex up quickly for large-scale, international or highly specialised productions without ever losing creative or strategic control. This network is complemented by our own technology backbone: BOA AI Studio. Built and maintained entirely in-house rather than outsourced to third-party platforms. The result is a partnership model that goes beyond a traditional client-agency relationship: one dedicated team, backed by the right people, technology and expertise for every project, whatever its scale.
No, we're not a part of an (inter)national network or group.
BOA is a Google Ads and META partner.
- Dedicated in-house team of 40 FTE's
- We are efficient, approachable, flexible and straightforward.
- Every project starts with thinking commercially alongside the client and a clear business and brand strategy, not a standalone concept or a production request. Only once that strategic and commercial foundation is in place does creativity come into play.
- Our own technology backbone: BOA AI Studio. Built and maintained entirely in-house rather than outsourced to third-party platforms. The result is a partnership model that goes beyond a traditional client-agency relationship: one dedicated team, backed by the right people, technology and expertise for every project, whatever its scale.
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 signalsWhat this agency does well
- EBITDA margin above the sector median (27,6%)
- Profitable in every one of the last 5 years
- Strong buffer: 8,9 months of payroll in equity
- Value-added per euro of payroll above the sector median (1,38)
- No warning signals in the last 24 months
- Margin per hour worked rose 3 years in a row
- Healthy working capital (current ratio 1,75)
- Equity was earned, not injected (reserves 106,0× the capital contributed)
- Turnover below the median (15,4%)
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 | € 2,85 mln | € 2,98 mln+4,5% | € 3,93 mln+32% | € 4,25 mln+8,1% | € 4,01 mln-5,6% |
| EBITDA | € 256.741 | € 250.887 | € 666.496 | € 1,12 mln | € 1,11 mln |
| EBITDA margin | 9% | 8,4% | 16,9% | 26,4% | 27,6% |
| Staff | |||||
| FTE | 40,7 | 44,5+9,3% | 47,9+7,6% | 43,9-8,4% | 38,4-12,5% |
| Gross margin per FTE | € 70.024 | € 66.937 | € 82.105 | € 96.800 | € 104.463 |
| Payroll cost per FTE | € 62.929 | € 60.953 | € 67.852 | € 70.859 | € 75.308 |
| Balance sheet | |||||
| Equity | € 594.982 | € 562.505 | € 915.845 | € 1,54 mln | € 2,14 mln |
| Cash | € 40.342 | € 101.749 | € 96.091 | € 277.356 | € 39.378 |
| Liquidity ratio | 1,23 | 1,11 | 1,44 | 1,59 | 1,75 |
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 02/04/2026. 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.
What the agency actually does 39 services
Sector focus
Publicly known clients
Based on IKAg research and public sources. Incomplete or outdated? Let us know.
People 49 people mapped
The heart of this team is creative: 21 of 49 profiles are makers. Within that core, Design, Fotografie and Art Direction stand out. One strategist on board — enough to hold the direction, not to fill meetings. At 49+ 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.
- 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 2025: the last year for which nearly all accounts have been filed.
Frequently asked questions about BOA
- When was BOA founded?
- In 2007.
- Where is BOA located?
- In Menen, Belgium.
- What is BOA specialised in?
- Brand strategy & positioning, Customer & audience strategy, Customer value propositions & business development, Marketing strategy, Research & consumer insights, Brand identity & design.
- How big is BOA?
- Around 38 full-time equivalents (financial year 2025).
- Which sectors does BOA work for?
- Retail & e-commerce, Food & beverage.
- Who are the clients of BOA?
- Among others Devagro, C-ALL, Atelier Depoorter, Cortijo Levante, La Lorraine Bakery Group, Sint-Baafskathedraal, Care2Cover.
Figures from the annual accounts up to financial year 2025. Company details checked against the CBE register on 2026-10-13.