How big is De Witte & Co?

Around 3 full-time equivalents (financial year 2025).

Review: De Witte & Co

De Witte & Co werkt ruim dertig jaar als full-service bureau uit Zonhoven. Op de loonlijst staan ongeveer 3 voltijdse equivalenten.

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: € 302.051 gross margin, growth +8,5% against a sector median of +1,7%.

At or above sector pace

MarginEBITDA / gross margin · value-added coverage

20212022202320242025

De Witte & CoSector median

EBITDA margin 61,4%, sector median 23,9%. Value-added coverage 2,60 (median 1,27).

Healthy margin

Revenue per headGross margin per FTE, against payroll cost

€ 107.875

Median (2025) € 78.251

Against a payroll cost of € 41.350 per FTE. The ratio between the two is the coverage rate above.

Above the median

Yield levelYield per hour worked, against payroll cost

€ 90

Median (2025) € 49

3.340 hours worked, 1.193 per FTE. Against that sits € 35 of payroll cost per hour worked, leaving € 56 for premises, equipment, depreciation and profit.

Above 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: 6,7 months (median 5,8 mo). Equity in the latest year: € 64.402.

Adequate buffer

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

Cash € 161.456. Liquidity ratio 1,22: current assets cover short-term debt in full. Solvency 19,6%.

Amply covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 81 days of supplier credit, sector median 54. The accounts were filed 184 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 Oct 2026 · Google Autocomplete

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

EBITDA margin above the sector median (61,4%)
Profitable in every one of the last 5 years
Strong buffer: 6,7 months of payroll in equity
Team grew (+7,7% FTE in the latest year)
Value-added per euro of payroll above the sector median (2,60)
Margin per hour worked rose 3 years in a row
Healthy working capital (current ratio 1,22)
Equity was earned, not injected (reserves 9,4× the capital contributed)
Comfortable cash position: 509 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, 2021 to 2025Result, staff and balance sheet

	2021	2022	2023	2024	2025
Result
Gross margin	€ 369.563	€ 302.337-18,2%	€ 304.760+0,8%	€ 278.459-8,6%	€ 302.051+8,5%
EBITDA	€ 230.165	€ 172.962	€ 164.217	€ 158.535	€ 185.424
EBITDA margin	62,3%	57,2%	53,9%	56,9%	61,4%
Staff
FTE	3,5	3,0-14,3%	2,9-3,3%	2,6-10,3%	2,8+7,7%
Gross margin per FTE	€ 105.589	€ 100.779	€ 105.090	€ 107.100	€ 107.875
Payroll cost per FTE	€ 39.618	€ 42.688	€ 45.725	€ 45.919	€ 41.350
Balance sheet
Equity	€ 505.667	€ 66.148	€ 67.777	€ 64.390	€ 64.402
Cash	€ 420.855	€ 382.512	€ 104.635	€ 116.953	€ 161.456
Liquidity ratio	4,23	1,09	1,23	1,20	1,22

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 03/07/2026. 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 2 Nov 2026. Sector medians based on financial year 2025: the last year for which nearly all accounts have been filed.

Coming soon

We're working on this part of the factsheet.

Coming soon

We're working on this part of the factsheet.

1

People 14 people mapped

This is first a build crew — 8 of 14 are developers. Within that core, Backend, Frontend and Full Stack stand out. Notably, no declared strategists in sight — this agency would rather make than philosophise.

BD

Bart De Witte

Begeesterd Bedrijfsleider

JV

Joke Van Beurden

Leading Lady

SJ

Sofie Jacobs

Aanstekelijke Accountmanager

BV

Bram Verstraten

Bedachtzame back-ender

BP

Bryan Prils

Pragmatisch Programmeerder

CT

Christel Tas

Creatief Cijferaar

EM

Elisa Minten

Web Woman

EO

Erdem Ozyalcin

Dynamisch Developer

GB

Gert Bruynseels

Behendige back-ender

JK

Jolien Knuts

Online Octopus

MV

Marijke Verlinden

Goochelende Graficus

MC

Marijn Cornelissen

Competent Codeschrijver

MB

Michael Baumrucker

Magisch ModX'er

WH

Wim Hauben

Web Wizard

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

€ 41.350

-32% versus the median

Team composition

2,8 FTE

100% women
0% men

€ 41.350

Median Full-service bureau (2025) € 60.368All 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

35,7%

Median for this type of agency (2025): 31,1%

Inflow 2025

35,7%

1,0 FTE in, 1,0 FTE out

Net team change

0,0 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.