What is Butik specialised in?

Campaign concepts & big ideas, Campaign execution, Events & experiences.

Around 26 full-time equivalents (financial year 2026).

Which sectors does Butik work for?

Hospitality & tourism, Retail & e-commerce, Food & beverage.

Review: Butik

Q: Who are the clients of Butik?

Among others Eristoff, Desperados, Alken-Maes, Cristal, Campari, Bacardi, Patrón, Martini.

Butik bestaat sinds 2013 en profileert zich als eventbureau uit Aartselaar. Het team telt ongeveer 29 medewerkers (VTE). De opgegeven expertise is events en creatie & reclame. Publiek gekende klanten zijn onder meer Eristoff, Desperados, Alken-Maes en Cristal.

Awards

1× BEA Awards

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

20222023202420252026

Latest year: € 1,67 mln gross margin, growth -9,6% against a sector median of -8,9%.

Shrinking

MarginEBITDA / gross margin · value-added coverage

20222023202420252026

ButikSector median

EBITDA margin 4,6%, sector median 36,2%. Value-added coverage 1,05 (median 1,50). 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

€ 63.314

Against a payroll cost of € 59.643 per FTE. The ratio between the two is the coverage rate above.

No data

Yield levelYield per hour worked, against payroll cost

€ 28

58.582 hours worked, 2.227 per FTE. Against that sits € 27 of payroll cost per hour worked, leaving € 2 for premises, equipment, depreciation and profit.

No data

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: 0,7 months (median 9,8 mo). Equity in the latest year: € 93.301.

Critical buffer

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

Cash € 385.309. Liquidity ratio 1,16: current assets cover short-term debt in full. Solvency 3,8%.

Tightly covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 419 days of supplier credit. The accounts were filed 182 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 Sep 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete
Critical buffer · 31 Mar 2026 · 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.
Sharp headcount decline · 31 Mar 2025 · NBB
Average 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.

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

Profitable in every one of the last 5 years
Margin per hour worked rose 3 years in a row
Comfortable cash position: 90 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, 2022 to 2026Result, staff and balance sheet

	2022	2023	2024	2025	2026
Result
Gross margin	€ 994.097	€ 1,78 mln+78,9%	€ 2,37 mln+33,2%	€ 1,84 mln-22,2%	€ 1,67 mln-9,6%
EBITDA	€ 91.241	€ 34.790	€ 104.714	€ 68.081	€ 75.875
EBITDA margin	9,2%	2%	4,4%	3,7%	4,6%
Staff
FTE	20,1	32,4+61,2%	37,6+16%	28,6-23,9%	26,3-8%
Gross margin per FTE	€ 49.458	€ 54.887	€ 62.993	€ 64.404	€ 63.314
Payroll cost per FTE	€ 44.008	€ 53.343	€ 59.118	€ 60.528	€ 59.643
Balance sheet
Equity	€ 72.464	€ 85.179	€ 86.825	€ 88.042	€ 93.301
Cash	€ 241.836	€ 254.980	€ 670.064	€ 687.935	€ 385.309
Liquidity ratio	1,02	1,03	1,01	1,12	1,16

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 2026, filed on 29/09/2026. 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 3 services

Advertising & Campaigns

Campaign concepts & big ideas Campaign execution

Events, Sponsoring & Activation

Events & experiences

Sector focus

Food & beverageFMCGMedia & entertainment

Publicly known clients

EristoffDesperadosAlken-MaesCristalCampariBacardiPatrónMartini

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

1

People 18 people mapped

The heart of this team is creative: 11 of 18 profiles are makers. Within that core, Design and Art Direction stand out. One strategist on board — enough to hold the direction, not to fill meetings.

NR

Nico Ruell

Founder

BB

Babs Bruseker

Brand Stylist

CO

Carine Ophoff

Finance Stylist

CT

Caro Tinck

Field Stylist

CS

Christina Simonyan

Junior Brand Stylist

CP

Christophe Peeters

Marketing Tailor

GL

Gaël Lespagnard

Senior Brand Stylist

KA

Kyle Aerens

Production Stylist

LD

Leen De Jaeghere

Senior Brand Stylist

LV

Lies Van De Velde

Senior Brand Stylist

MV

Michiel Vervecken

DTP Stylist

ND

Niel De Smedt

Senior Brand Stylist

PV

Paulien Vandersmissen

Junior Brand Stylist

SB

Sip Berten

Production Stylist

SG

Stephanie Gillain

Senior Brand Stylist

VS

Veronique Suys

Senior Brand Stylist

WD

Ward De Coster

Finance Stylist

YR

Yana Rosseel

Brand Stylist

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

€ 59.643

Team composition

26,3 FTE

49% women
51% men

€ 59.643

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 2022

1.845,8%

Inflow 2022

1.895,5%

381,0 FTE in, 371,0 FTE out

Net team change

+10,0 FTE

20222023202420252026

Figures for financial year 2022: in 2026 this agency published no inflow or outflow.

Source: annual accounts and social reports (NBB), collected by IKAg. Financial year 2026. Calculations by IKAg; an indication, not financial advice.

Award-winning work 1 award(s)

2017

BEA Awards BronzeB2C Events · “Hendrick's Chambers of the Curious” · source ↗

As published by the organising award shows, collected by IKAg.