What is La Niche specialised in?

Brand strategy & positioning, Marketing strategy, Brand identity & design, Website strategy & UX.

Around 5 full-time equivalents (financial year 2025).

Who are the clients of La Niche?

Among others Theatre de Liege, Stad Namen.

Review: La Niche

Sinds 2020 is La Niche actief als ux- & designstudio uit Namur. De bezetting ligt rond 11 VTE. Ze werken rond ux/ui design, strategie en branding & identiteit. Het zwaartepunt ligt bij opdrachtgevers uit kmo, zelfstandigen, non-profit en cultuur. Tot de publiek bekende klanten behoren Theatre de Liege en Stad Namen.

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: € 198.830 gross margin, growth -65% against a sector median of -3,7%.

Shrinking

MarginEBITDA / gross margin · value-added coverage

20212022202320242025

La NicheSector median

EBITDA margin -, sector median 15,1%. Value-added coverage 0,34 (median 1,06).

No margin data

Revenue per headGross margin per FTE, against payroll cost

€ 36.820

Median (2025) € 73.601

Against a payroll cost of € 64.283 per FTE. The ratio between the two is the coverage rate above.

Below the median

Yield levelYield per hour worked, against payroll cost

€ 23

Median (2025) € 46

8.836 hours worked, 1.636 per FTE. Against that sits € 39 of payroll cost per hour worked, leaving € -17 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: -42,4 months (median 3,4 mo). Equity in the latest year: € -1,23 mln.

Critical buffer

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

Cash € 103.005. Liquidity ratio 0,26: current assets cover short-term debt not in full. Solvency -535,4%.

Not covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 874 days of supplier credit, sector median 52. The accounts were filed 265 days after closing; the legal deadline is seven months.

Filed late

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

6 red flag(s) (24m)

Signals in the last 24 months

Partnerstatus verdwenen · 1 Nov 2026 · Partnerdirectory
Zichtbaarheid verschoven · 1 Oct 2026 · Google Autocomplete
Late filing · 22 Sep 2026 · NBB
The annual accounts were filed after the statutory deadline. Over a third of the sector does this, usually because of the accountant's calendar. Rarely a story in itself.
Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete
Dissolution / liquidation · 12 Jul 2026 · KBO
The company is being dissolved or wound up. Sometimes the activity moves to another company in the same group. Ask your agency what this means for your ongoing work before taking any further steps.
Board change · 13 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.
+ 9 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.

Legal status (CBE): Vrijwillige ontbinding – vereffening

What this agency does well

Comfortable cash position: 108 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.

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

	2021	2022	2023	2024	2025
Result
Gross margin	€ 700.705	€ 881.767+25,8%	€ 637.757-27,7%	€ 568.677-10,8%	€ 198.830-65%
EBITDA	€ -200.448	€ -305.909	€ -74.132	€ -89.679	€ -229.008
EBITDA margin	-28,6%	-34,7%	-11,6%	-15,8%	-
Staff
FTE	17,2	21,2+23,3%	12,8-39,6%	10,8-15,6%	5,4-50%
Gross margin per FTE	€ 40.739	€ 41.593	€ 49.825	€ 52.655	€ 36.820
Payroll cost per FTE	€ 52.349	€ 55.959	€ 55.506	€ 60.764	€ 64.283
Balance sheet
Equity	€ 50.275	€ -408.754	€ -581.783	€ -777.106	€ -1,23 mln
Cash	€ 117.028	€ 13.715	€ 28.422	€ 100.139	€ 103.005
Liquidity ratio	0,76	0,55	0,60	0,44	0,26

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 22/09/2026. 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 4 services

Strategy & Insights

Brand strategy & positioning Marketing strategy

Branding & Design

Brand identity & design

Digital Experience & Tech

Website strategy & UX

Sector focus

KMOzelfstandigennon-profitcultuuroverheid

From our own research. The agency hasn't listed its sectors yet.

Publicly known clients

Theatre de LiegeStad Namen

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

1

People 1 people mapped

L

Léa

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

€ 64.283

-3% versus the median

Team composition

5,4 FTE

82% women
19% men

€ 64.283

Median UX- & designstudio (2025) € 66.413All 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 2025

37,0%

Median for this type of agency (2025): 35,4%

Inflow 2025

7,4%

0,4 FTE in, 2,0 FTE out

Net team change

-1,6 FTE

20212022202320242025

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.