What is Koho Collective specialised in?

Paid social, Search advertising (SEA), CRM & lifecycle strategy, Marketing automation, Dashboards & reporting, Data science & analytics (incl. predictive modelling).

How big is Koho Collective?

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

Who are the clients of Koho Collective?

Among others Solvay Lifelong Learning, Serry, BLCC, STiDO.

Review: Koho Collective

Koho Collective, opgericht in 2021, is een full-service bureau uit Antwerpen. Met ongeveer 3 VTE is dit een klein bureau. Het bureau combineert data & analytics, crm & marketing automation en paid media (sea/social/display). Sectoren waar het bureau vaak werkt: b2b-bedrijven. Publiek gekende klanten zijn onder meer Solvay Lifelong Learning, Serry, BLCC en STiDO.

Partnerships

HubSpot Gold

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

20212022202320242025

Latest year: € 161.074 gross margin, growth +50,8% against a sector median of +1,7%.

At or above sector pace

MarginEBITDA / gross margin · value-added coverage

20212022202320242025

Koho CollectiveSector median

EBITDA margin 1,8%, sector median 23,9%. Value-added coverage 1,02 (median 1,27). Value-added coverage sits in the sector-wide grey zone (0.95-1.15): context, not an alarm.

Below sector level

Revenue per headGross margin per FTE, against payroll cost

€ 53.691

Median (2025) € 78.251

Against a payroll cost of € 52.374 per FTE. The ratio between the two is the coverage rate above.

Below the median

Yield levelYield per hour worked, against payroll cost

€ 31

Median (2025) € 49

5.179 hours worked, 1.726 per FTE. Against that sits € 30 of payroll cost per hour worked, leaving € 1 for premises, equipment, depreciation and profit.

Below 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: 0,5 months (median 5,8 mo). Equity in the latest year: € 7.164.

Critical buffer

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

Cash € 9.843. Liquidity ratio 1,15: current assets cover short-term debt in full. Solvency 15,4%.

Tightly covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 9 days of supplier credit, sector median 54. The accounts were filed 197 days after closing; the legal deadline is seven months.

Pays and files on time

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

1 red flag(s) (24m)

Signals in the last 24 months

Zichtbaarheid verschoven · 1 Nov 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Nov 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Oct 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete
Board change · 11 May 2026 · Staatsblad
Appointments or resignations on the board. Routine during growth, succession or a new partner. Ask about it when several changes follow each other closely.
Critical buffer · 31 Dec 2025 · NBB
Equity 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.
+ 2 older signals within 24m

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

Gross margin grew 3 years in a row
Outgrew the sector median 3 years running
Team grew (+30,4% FTE in the latest year)

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.

5 financial years, 2021 to 2025Result, staff and balance sheet

	2021	2022	2023	2024	2025
Result
Gross margin	€ 47.612	€ 33.803-29%	€ 81.396+140,8%	€ 106.800+31,2%	€ 161.074+50,8%
EBITDA	€ 20.465	€ -7.716	€ 21.974	€ -1.964	€ 2.883
EBITDA margin	43%	-22,8%	27%	-1,8%	1,8%
Staff
FTE	1,0	1,00%	1,2+20%	2,3+91,7%	3,0+30,4%
Gross margin per FTE	€ 47.612	€ 33.803	€ 67.830	€ 46.435	€ 53.691
Payroll cost per FTE	€ 26.881	€ 39.773	€ 49.168	€ 46.161	€ 52.374
Balance sheet
Equity	€ 18.106	€ 7.576	€ 24.444	€ 2.415	€ 7.164
Cash	€ 17.675	€ 3.593	€ 6.929	€ 91	€ 9.843
Liquidity ratio	2,01	1,22	2,00	0,97	1,15

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 16/07/2026. 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.

What the agency actually does 6 services

Media

Paid social Search advertising (SEA)

CRM, Email & Loyalty

CRM & lifecycle strategy Marketing automation

Data, Measurement & Governance

Dashboards & reporting Data science & analytics (incl. predictive modelling)

Sector focus

EducationReal estate & constructionB2B services

Publicly known clients

Solvay Lifelong LearningSerryBLCCSTiDO

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

1

People 5 people mapped

A small team: short lines, little noise between you and the makers.

HL

Hilde Lamaire

JV

Johan Vandecasteele

Managing Partner

JV

Johan Vantomme

JV

June van der Weyden

Oprichtster

MA

Michel Antonise

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

€ 52.374

-13% versus the median

Team composition

3,0 FTE

33% women
67% men

€ 52.374

Median Full-service bureau (2025) € 60.368All agencies (2025) € 62.294

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 2024

/

Median for this type of agency (2025): 31,1%

Inflow 2024

43,5%

20212022202320242025

Figures for financial year 2024: in 2025 this agency published no inflow or outflow.

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.

Official partnerships 1 badge(s)

HubSpot: Gold1 of 28 Belgian partners in the IKAg database.

As published in the platforms' official partner directories, collected by IKAg.