Pavlov
Brand consultancy based in Antwerp, specialised in brand strategy, brand identity, brand culture and brand experience. Part of the worldwide BDO ecosystem.
The content of this factsheet is in Dutch.
Great brands make things possible. We make sure your brand adds true value to your organisation through profound insights, ground-breaking strategy and smart implementation.
We believe in the power of brands. We believe that brands set things in motion. We believe we can make your brand your most valuable asset. We believe emotional, human-centred brands are the winning brands of the future.
Our team of skilled experts dives into business critical challenges and leads the way towards growth, using your brand as the accelerator for sustainable relationships with your internal and external target audiences. As an independent consultant, we help you get more out of your brand by guiding you towards the right strategic choices and assisting with tactical implementation in day-to-day reality.
- brand strategy
- brand architecture
- brand identity
- brand culture
- brand experience
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
2 red flag(s) (24m)- Zichtbaarheid verschoven · 1 Oct 2026 · Google Autocomplete
- Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete
- Late filing · 31 Aug 2026 · NBBThe 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.
- 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 drop in equity · 31 Dec 2025 · NBBThe financial reserve shrank by more than 30% over two financial years. A dividend, buying out a partner and a loss-making year all look the same here. Ask which of the three it was.
- Late filing · 6 Aug 2025 · NBBThe 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.
- + 2 older signals within 24m
What this agency does well
- Healthy working capital (current ratio 2,48)
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 | € 17.420 | € 3.396-80,5% | € -10.107-397,7% | € -146.505 | € -97.720 |
| EBITDA | € 16.839 | € 2.889 | € -23.164 | € -147.074 | € -98.306 |
| EBITDA margin | 96,7% | 85,1% | - | - | - |
| Staff | |||||
| Balance sheet | |||||
| Equity | € 33.255 | € 33.809 | € 108.555 | € 60.877 | € 61.727 |
| Cash | € 62.686 | € 15.486 | € 101.280 | € 32.584 | € 9.314 |
| Liquidity ratio | 2,40 | 2,50 | 3,65 | 2,43 | 2,48 |
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.
- This agency files an abbreviated or micro scheme and therefore publishes no staff data. Seniority, turnover and hourly level cannot be derived. This is entirely legal and says nothing about quality.
- The figures cover financial year 2025, filed on 31/08/2026. 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
Based on IKAg research and public sources. Incomplete or outdated? Let us know.
People 5 people mapped
Strategy weighs heavily here: 3 of 5 are strategists. Within that core, Merkstrategie, Strategie and Positionering stand out. The titles skew top-heavy: lots of seniority, few juniors — you're mostly buying experience. A specialist, not a generalist: the expertise is narrow but deep.
Based on public profiles. Something wrong? Let us know.
Frequently asked questions about Pavlov
- When was Pavlov founded?
- In 2016.
- Where is Pavlov located?
- In Antwerpen, Belgium.
- What is Pavlov specialised in?
- Brand strategy & positioning, Customer & audience strategy, Customer value propositions & business development, Marketing strategy, Research & consumer insights, Brand identity & design.
Figures from the annual accounts up to financial year 2025. Company details checked against the CBE register on 2026-10-13.