Equals Three
The content of this factsheet is in Dutch.
Equals Three is een creatief bureau uit Antwerpen, actief sinds 2012. Het team telt ongeveer 12 medewerkers (VTE). Het bureau combineert creatie & reclame, ux/ui design, strategie en branding & identiteit. Sectoren waar het bureau vaak werkt: consumentenmerken en lifestyle/design.
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- Zichtbaarheid verschoven · 1 Nov 2026 · Google Autocomplete
- Registered office moved · 12 Oct 2026 · StaatsbladThe registered office relocated. Usually just a new office.
- Zichtbaarheid verschoven · 1 Oct 2026 · Google Autocomplete
- Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete
- Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete
- Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete
- + 1 older signals within 24m
What this agency does well
- Profitable in every one of the last 5 years
- Strong buffer: 9,6 months of payroll in equity
- Team grew (+8,3% FTE in the latest year)
- Healthy working capital (current ratio 4,92)
- Equity was earned, not injected (reserves 82,8× the capital contributed)
- Comfortable cash position: 238 days of payroll
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 | € 630.883 | € 698.047+10,6% | € 774.204+10,9% | € 629.183-18,7% | € 828.310+31,6% |
| EBITDA | € 203.909 | € 205.143 | € 70.893 | € -169.934 | € 38.845 |
| EBITDA margin | 32,3% | 29,4% | 9,2% | -27% | 4,7% |
| Staff | |||||
| FTE | 8,1 | 9,3+14,8% | 10,3+10,8% | 10,9+5,8% | 11,8+8,3% |
| Gross margin per FTE | € 77.887 | € 75.059 | € 75.165 | € 57.723 | € 70.196 |
| Payroll cost per FTE | € 52.100 | € 50.427 | € 58.787 | € 64.319 | € 62.895 |
| Balance sheet | |||||
| Equity | € 484.867 | € 608.409 | € 620.939 | € 627.300 | € 628.337 |
| Cash | € 647.624 | € 399.729 | € 489.477 | € 633.833 | € 483.697 |
| Liquidity ratio | 1,88 | 2,81 | 2,39 | 4,66 | 4,92 |
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 24/07/2026. 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.
Sector focus
Publicly known clients
Amuse, The Gummy Gurus, Valor Services Group, Shinncare, Doomoo, Loop Earplugs, MM Antverpia, Biztory, Clics, Maison Macolat, Barbecook, Controlfire, Bumbuns, Carboganic, Etion
Based on IKAg research and public sources. Incomplete or outdated? Let us know.
People 31 people mapped
The heart of this team is creative: 10 of 31 profiles are makers. Within that core, Design, Copywriting and UX/UI Design stand out. There are 6 strategists around — expect thinking first, pixels second. At 31+ 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.
- 38% women
- 62% 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 Equals Three
- When was Equals Three founded?
- In 2012.
- Where is Equals Three located?
- In Antwerpen, Belgium.
- What is Equals Three specialised in?
- Brand strategy & positioning, Marketing strategy, Brand identity & design, Campaign concepts & big ideas, Campaign execution, Website strategy & UX.
- How big is Equals Three?
- Around 12 full-time equivalents (financial year 2025).
- Which sectors does Equals Three work for?
- Fashion & lifestyle, Retail & e-commerce.
- Who are the clients of Equals Three?
- Among others Amuse, The Gummy Gurus, Valor Services Group, Shinncare, Doomoo, Loop Earplugs, MM Antverpia, Biztory, Clics, Maison Macolat, Barbecook, Controlfire, Bumbuns, Carboganic, Etion.
Figures from the annual accounts up to financial year 2025. Company details checked against the CBE register on 2026-10-13.