What is Bulletpoint specialised in?

Brand strategy & positioning, Marketing strategy, Brand identity & design, Campaign concepts & big ideas, Campaign execution.

How big is Bulletpoint?

Around 8 full-time equivalents (financial year 2025).

Review: Bulletpoint

Q: Who are the clients of Bulletpoint?

Among others Izyprint, Insuro, Yva Cleaning, Pipe Solutions, Didess, Cares Assistance, Ufin, Lauwers Advocaten, Terryn Schors en Potgrond, Home Coach, R&breakfast, Food Revolution, Groep DGB, Jonge Renners Roeselare.

Bulletpoint is al ruim tien jaar actief als brandingbureau uit Lichtervelde. Het team telt ongeveer 8 medewerkers (VTE). De focus ligt op strategie, branding & identiteit en creatie & reclame. Sectoren waar het bureau vaak werkt: brede kmo/b2b.

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: € 455.674 gross margin, growth +13,3% against a sector median of +6,6%.

At or above sector pace

MarginEBITDA / gross margin · value-added coverage

20212022202320242025

BulletpointSector median

EBITDA margin 28,9%, sector median 32,2%. Value-added coverage 1,43 (median 1,29).

Healthy margin

Revenue per headGross margin per FTE, against payroll cost

€ 60.756

Median (2025) € 82.809

Against a payroll cost of € 58.615 per FTE. The ratio between the two is the coverage rate above.

Below the median

Yield levelYield per hour worked, against payroll cost

€ 50

Median (2025) € 48

9.104 hours worked, 1.751 per FTE. Against that sits € 33 of payroll cost per hour worked, leaving € 17 for premises, equipment, depreciation and profit.

Around 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: 2,9 months (median 6,3 mo). Equity in the latest year: € 72.786.

Thin buffer

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

Cash € 100.773. Liquidity ratio 0,67: current assets cover short-term debt not in full. Solvency 8,3%.

Not covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 126 days of supplier credit, sector median 68. The accounts were filed 169 days after closing; the legal deadline is seven months.

Pays slower than average

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

No serious signals

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 Oct 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete
+ 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

Stable team (no meaningful FTE loss)
Value-added per euro of payroll above the sector median (1,43)
Margin per hour worked rose 4 years in a row
Equity was earned, not injected (reserves 4,6× the capital contributed)
Comfortable cash position: 121 days of payroll
Turnover below the median (26,7%)

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	€ 345.344	€ 402.281+16,5%	€ 421.990+4,9%	€ 402.241-4,7%	€ 455.674+13,3%
EBITDA	€ 95.166	€ 71.922	€ 43.220	€ 110.043	€ 131.748
EBITDA margin	27,6%	17,9%	10,2%	27,4%	28,9%
Staff
FTE	5,9	7,0+18,6%	7,5+7,1%	7,50%	7,50%
Gross margin per FTE	€ 58.533	€ 57.469	€ 56.265	€ 53.632	€ 60.756
Payroll cost per FTE	€ 39.810	€ 46.643	€ 50.152	€ 56.424	€ 58.615
Balance sheet
Equity	€ 73.931	€ 18.073	€ -5.424	€ 33.805	€ 72.786
Cash	€ 52.413	€ 61.430	€ 7.464	€ 15.664	€ 100.773
Liquidity ratio	1,24	0,66	0,56	0,53	0,67

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 18/06/2026. 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 5 services

Strategy & Insights

Brand strategy & positioning Marketing strategy

Branding & Design

Brand identity & design

Advertising & Campaigns

Campaign concepts & big ideas Campaign execution

Sector focus

Finance & insuranceFood & beverageB2B services

Publicly known clients

Izyprint, Insuro, Yva Cleaning, Pipe Solutions, Didess, Cares Assistance, Ufin, Lauwers Advocaten, Terryn Schors en Potgrond, Home Coach, R&breakfast, Food Revolution, Groep DGB, Jonge Renners Roeselare

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

1

People 8 people mapped

The heart of this team is creative: 4 of 8 profiles are makers. Within that core, Design, Leiderschap and Art Direction stand out. Notably, no declared strategists in sight — this agency would rather make than philosophise.

DB

David Babylon

Zaakvoerder, Accountmanager

LV

Lore Vandenberghe

Interne account

SP

Stefaan Parrein

Zaakvoerder, Creative director

AV

Arne Vanhauwaert

Grafisch vormgever

EP

Eva Pollet

Administratief medewerker

LL

Liesbet Lampaert

Grafisch vormgever

LS

Louise Schotte

Front- & back-end developer

WG

Wesley Gore

Copywriter, Content creator

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

€ 58.615

-4% versus the median

Team composition

5,2 FTE

66% women
35% men

€ 58.615

Median Brandingbureau (2025) € 60.980All 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

38,5%

Median for this type of agency (2025): 38,9%

Inflow 2025

53,8%

2,8 FTE in, 2,0 FTE out

Net team change

+0,8 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.