What is Digital Lemonade specialised in?

Brand strategy & positioning, Marketing strategy, Brand identity & design, Website development, Website strategy & UX.

How big is Digital Lemonade?

Around 0 full-time equivalents (financial year 2025).

Review: Digital Lemonade

Q: Who are the clients of Digital Lemonade?

Among others De Pluimhoeve, Jeromi Del Sol, WOPA Construction, Isopower, Houtique, Graffo.

Vanuit Herk-de-Stad werkt Digital Lemonade sinds 2003 als brandingbureau. De focus ligt op strategie, branding & identiteit, webdevelopment en ux/ui design. Het zwaartepunt ligt bij opdrachtgevers uit geen specifieke sectorfocus. Uit de publiek bekende klantenlijst: De Pluimhoeve, Jeromi Del Sol, WOPA Construction en Isopower.

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: € -42.719 gross margin, growth - against a sector median of +6,6%.

Not enough history

MarginEBITDA / gross margin · value-added coverage

20212022202320242025

Digital LemonadeSector median

EBITDA margin -, sector median 32,2%. Value-added coverage -6,05 (median 1,29).

No margin data

Revenue per headGross margin per FTE, against payroll cost

€ -427.193

Median (2025) € 82.809

Against a payroll cost of € 70.903 per FTE. The ratio between the two is the coverage rate above.

Below the median

Yield levelYield per hour worked, against payroll cost

€ -232

Median (2025) € 48

184 hours worked, 1.840 per FTE. Against that sits € 39 of payroll cost per hour worked, leaving € -271 for premises, equipment, depreciation and profit.

Below 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: 9,7 months (median 6,3 mo). Equity in the latest year: € 5.754.

Adequate buffer

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

Cash € 4.901. Liquidity ratio 21,41: current assets cover short-term debt in full. Solvency 95,3%.

Amply covered

Payment behaviourTowards suppliers and towards the NBB

The accounts were filed 240 days after closing; the legal deadline is seven months.

Filed late

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 Oct 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete
Late filing · 28 Aug 2026 · NBB
The annual accounts were filed after the statutory deadline. Over a third of the sector does this, usually because of the accountant's calendar. Rarely a story in itself.
Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete
+ 6 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

Strong buffer: 9,7 months of payroll in equity
Healthy working capital (current ratio 21,41)
Comfortable cash position: 252 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	€ 61.279	€ 74.947+22,3%	€ 69.340-7,5%	€ -77.368-211,6%	€ -42.719
EBITDA	€ 30.128	€ 37.233	€ 38.686	€ -99.123	€ -49.966
EBITDA margin	49,2%	49,7%	55,8%	-	-
Staff
FTE	1,0	0,6-40%	0,60%	0,3-50%	0,1-66,7%
Gross margin per FTE	€ 61.279	€ 124.911	€ 115.567	€ -257.895	€ -427.193
Payroll cost per FTE	€ 28.624	€ 42.097	€ 46.180	€ 50.881	€ 70.903
Balance sheet
Equity	€ 129.456	€ 141.118	€ 158.347	€ 58.648	€ 5.754
Cash	€ 2.569	€ 2.935	€ 1.440	€ 39.983	€ 4.901
Liquidity ratio	1,67	2,13	2,11	13,63	21,41

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 28/08/2026. 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

Digital Experience & Tech

Website development Website strategy & UX

Sector focus

Real estate & constructionTravel & hospitalityFood & beverage

Publicly known clients

De PluimhoeveJeromi Del SolWOPA ConstructionIsopowerHoutiqueGraffo

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

1

People 1 people mapped

AN

Alexander Nenczl

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

€ 70.903

+16% versus the median

Team composition

0,1 FTE

€ 70.903

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.

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.