Bubka: advertising agency
Bubka is een reclamebureau dat wil instaan voor ‘responsible growth & positive societal change’.
The content of this factsheet is in Dutch.
Bubka bestaat sinds 2008 en profileert zich als creatief bureau uit Berchem. Er werken ongeveer 7 mensen, uitgedrukt in voltijdse equivalenten. De opgegeven expertises zijn creatie & reclame, strategie en branding & identiteit. Sectorieel richt het bureau zich vooral op duurzaamheid/responsible growth; b2c consumentenmerken. Publiek gekende klanten zijn onder meer Bosto, Thomas More, We en The Hopeful.
Marketing to promote positive societal change
Bubka is een reclamebureau dat wil instaan voor ‘responsible growth & positive societal change’. Duurzaamheid zit diep in het DNA van het bedrijf ingebakken (zie ook hun BCorp certificatie).
Ze werken op basis van een wetenschappelijk uitgebouwd model, het Responsible Growth Model.
Daarrond geven ze trainings & workshops, doen aan marktonderzoek en innovatie, maar vooral: ontwikkelen ze reclamecampagnes voor B2C en consument-gerichte bedrijven.
Dat doen ze met een team van een 20-tal VTE, waaronder
- 4 strategen
- 10 VTE in studio (design, motion, copy)
- 8 VTE account managers (‘fixers’)
Wat ze niet doen: performance marketing, development.
Referentieklanten: Polestar, Bebat, Electro Depot, Triodos
Gepercipieerde concurrenten: Bonka Circus, Air, Make Sense
Werken graag complementair samen met: Artcore Society, We Are Digital
Voorbeelden: Futerra
Ondernemingsnummer: 0432.151.727
Gemiddelde klantgrootte: 10k
1× Effie Awards Belgium
1× Agency of the YearHow 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
Points to ask about- Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete
- Loss-making year · 31 Dec 2025 · NBBOne financial year closed at a loss. The size is not shown here: it can be a few thousand euros, a one-off settlement, or a deliberate investment. Ask the agency what was behind it.
- Sharp headcount decline · 31 Dec 2025 · NBBAverage headcount fell by 15% or more in a year. That can be contraction, and just as easily a deliberate choice for fewer but more experienced people. Ask who left and who came in their place.
What this agency does well
- Strong buffer: 11,3 months of payroll in equity
- Margin per hour worked rose 2 years in a row
- Healthy working capital (current ratio 1,66)
- Equity was earned, not injected (reserves 4,9× the capital contributed)
- Comfortable cash position: 268 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 | € 969.369 | € 852.043-12,1% | € 626.412-26,5% | € 611.664-2,4% | € 574.901-6% |
| EBITDA | € 249.387 | € 40.390 | € 35.479 | € 54.685 | € 90.497 |
| EBITDA margin | 25,7% | 4,7% | 5,7% | 8,9% | 15,7% |
| Staff | |||||
| FTE | 13,5 | 12,4-8,1% | 10,2-17,7% | 8,7-14,7% | 6,9-20,7% |
| Gross margin per FTE | € 71.805 | € 68.713 | € 61.413 | € 70.306 | € 83.319 |
| Payroll cost per FTE | € 53.145 | € 65.228 | € 56.687 | € 63.364 | € 68.913 |
| Balance sheet | |||||
| Equity | € 497.119 | € 501.572 | € 505.003 | € 508.522 | € 447.063 |
| Cash | € 259.894 | € 225.825 | € 77.246 | € 223.941 | € 349.032 |
| Liquidity ratio | 1,67 | 1,63 | 1,94 | 1,89 | 1,66 |
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 31/07/2026. 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 14 Sep 2026. Sector medians based on financial year 2024: the last year for which nearly all accounts have been filed.
What the agency actually does 5 services
Sector focus
Publicly known clients
Based on IKAg research and public sources. Incomplete or outdated? 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.
- 63% women
- 38% 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 2024: the last year for which nearly all accounts have been filed.
Frequently asked questions about Bubka
- When was Bubka founded?
- In 2008.
- Where is Bubka located?
- In Antwerpen, Belgium.
- What is Bubka specialised in?
- Brand strategy & positioning, Marketing strategy, Brand identity & design, Campaign concepts & big ideas, Campaign execution, Advertising.
- How big is Bubka?
- Around 7 full-time equivalents (financial year 2025).
- Which sectors does Bubka work for?
- Energy & environment.
- Who are the clients of Bubka?
- Among others Polestar, Bebat, Electro Depot, Triodos.
Figures from the annual accounts up to financial year 2025. Company details checked against the CBE register on 2026-09-12.