Connect
The content of this factsheet is in Dutch.
Connect is een pr- & communicatiebureau uit Hasselt, actief sinds 1987. Op de loonlijst staan ongeveer 38 voltijdse equivalenten. Het bureau is toegespitst op pr & communicatie en strategie.
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
No serious signals- Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete
- Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete
- Board change · 20 Jul 2026 · StaatsbladAppointments or resignations on the board. Routine during growth, succession or a new partner. Ask about it when several changes follow each other closely.
- Registered office moved · 12 Feb 2025 · StaatsbladThe registered office relocated. Usually just a new office.
What this agency does well
- Gross margin grew 4 years in a row
- Profitable in every one of the last 5 years
- Stable team (no meaningful FTE loss)
- Margin per hour worked rose 4 years in a row
- Healthy working capital (current ratio 1,40)
- Equity was earned, not injected (reserves 10,4× the capital contributed)
- Comfortable cash position: 64 days of payroll
- Turnover below the median (15,1%)
- Invests in training (54 hours per FTE)
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 | € 2,43 mln | € 2,67 mln+9,8% | € 2,82 mln+5,8% | € 2,99 mln+5,9% | € 3,05 mln+2,1% |
| EBITDA | € 541.874 | € 585.762 | € 381.517 | € 542.530 | € 390.825 |
| EBITDA margin | 22,3% | 22% | 13,5% | 18,2% | 12,8% |
| Staff | |||||
| FTE | 35,9 | 35,90% | 41,7+16,2% | 37,6-9,8% | 38,3+1,9% |
| Gross margin per FTE | € 67.598 | € 74.244 | € 67.606 | € 79.419 | € 79.639 |
| Payroll cost per FTE | € 52.364 | € 54.532 | € 55.134 | € 64.888 | € 69.329 |
| Balance sheet | |||||
| Equity | € 309.919 | € 318.373 | € 314.071 | € 307.448 | € 704.448 |
| Cash | € 722.160 | € 540.392 | € 500.050 | € 376.417 | € 467.304 |
| Liquidity ratio | 1,21 | 1,10 | 1,10 | 1,19 | 1,40 |
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 05/05/2026. 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 21 Sep 2026. Sector medians based on financial year 2024: the last year for which nearly all accounts have been filed.
Sector focus
Publicly known clients
De Werkvennootschap, Limburg.net, Agentschap Wegen en Verkeer, Lantis, Tractebel, Nationaal Park Bosland, LETEC, Antonissen Development Group, Elia, Vlaamse Landmaatschappij, Sweco Belgium, STIB, Aquafin
Based on IKAg research and public sources. Incomplete or outdated? Let us know.
People 63 people mapped
Strategy weighs heavily here: 32 of 63 are strategists. At 63+ people, there's capacity for several tracks at once.
Based on public profiles. Something wrong? 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.
- 75% women
- 25% 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 Connect
- When was Connect founded?
- In 1987.
- Where is Connect located?
- In Hasselt, Belgium.
- What is Connect specialised in?
- AI & innovation strategy, Brand strategy & positioning, Brand identity & design, Packaging design, Campaign concepts & big ideas, Campaign execution.
- How big is Connect?
- Around 38 full-time equivalents (financial year 2025).
- Which sectors does Connect work for?
- Automotive & mobility, Energy & environment, Public sector & non-profit.
- Who are the clients of Connect?
- Among others De Werkvennootschap, Limburg.net, Agentschap Wegen en Verkeer, Lantis, Tractebel, Nationaal Park Bosland, LETEC, Antonissen Development Group, Elia, Vlaamse Landmaatschappij, Sweco Belgium, STIB, Aquafin.
Figures from the annual accounts up to financial year 2025. Company details checked against the CBE register on 2026-09-20.