Conversal
The content of this factsheet is in Dutch.
Sinds 2012 is Conversal actief als digitaal bureau (web & platform) uit Affligem. Op de loonlijst staan ongeveer 9 voltijdse equivalenten. Het bureau combineert webdevelopment, seo en paid media (sea/social/display). Sectoren waar het bureau vaak werkt: kmo's; breed. Tot de publiek bekende klanten behoren Rantour, Live To Travel, Buro Project en Eendracht Aalst Lede.
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
Points to ask about- Zichtbaarheid verschoven · 1 Nov 2026 · Google Autocomplete
- Zichtbaarheid verschoven · 1 Oct 2026 · Google Autocomplete
- Sharp headcount decline · 30 Sep 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
- EBITDA margin above the sector median (33,1%)
- Profitable in every one of the last 5 years
- Strong buffer: 12,6 months of payroll in equity
- Value-added per euro of payroll above the sector median (1,50)
- Healthy working capital (current ratio 3,03)
- Comfortable cash position: 257 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 | € 777.841 | € 1,08 mln+39,4% | € 1,10 mln+1,5% | € 1,04 mln-5,6% | € 971.633-6,5% |
| EBITDA | € 265.928 | € 373.095 | € 398.489 | € 262.311 | € 322.043 |
| EBITDA margin | 34,2% | 34,4% | 36,2% | 25,2% | 33,1% |
| Staff | |||||
| FTE | 10,8 | 11,0+1,9% | 13,4+21,8% | 12,5-6,7% | 9,1-27,2% |
| Gross margin per FTE | € 72.022 | € 98.553 | € 82.107 | € 83.115 | € 106.773 |
| Payroll cost per FTE | € 47.165 | € 56.047 | € 50.057 | € 62.039 | € 60.905 |
| Balance sheet | |||||
| Equity | € 325.109 | € 495.213 | € 353.415 | € 493.464 | € 680.007 |
| Cash | € 197.347 | € 391.489 | € 265.539 | € 219.026 | € 389.494 |
| Liquidity ratio | 1,18 | 1,72 | 1,35 | 1,62 | 3,03 |
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 21/04/2026. 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 4 services
Sector focus
Publicly known clients
Based on IKAg research and public sources. Incomplete or outdated? Let us know.
People 18 people mapped
A broad team with no clear centre of gravity — digital marketing, development and strategy carry roughly equal weight. There are 3 strategists around — expect thinking first, pixels second.
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.
- 38% women
- 62% 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 2025: the last year for which nearly all accounts have been filed.
Frequently asked questions about Conversal
- When was Conversal founded?
- In 2012.
- Where is Conversal located?
- In Affligem, Belgium.
- What is Conversal specialised in?
- Paid social, Search advertising (SEA), SEO & GEO, Website development.
- How big is Conversal?
- Around 9 full-time equivalents (financial year 2025).
- Who are the clients of Conversal?
- Among others Rantour, Live To Travel, Buro Project, Eendracht Aalst Lede, Idelco Insulation, Lamett Europe, Mauricio Travels, Sportwerk, Thélene, MAAAT.
Figures from the annual accounts up to financial year 2025. Company details checked against the CBE register on 2026-10-13.