Around 37 full-time equivalents (financial year 2025).

Review: Doffice

Q: What is Doffice specialised in?

AI & innovation strategy, Performance creative & DCO, Digital & programmatic buying, Media strategy & planning, Offline buying (TV, radio, print, OOH), Search advertising (SEA).

Q: Who are the clients of Doffice?

Among others Familiehulp, BNP Paribas Fortis, Volvo Car Gent, Stad Leuven.

Doffice is een employer branding bureau uit Antwerpen, actief sinds 2019. Er werken ongeveer 37 mensen, uitgedrukt in voltijdse equivalenten. Het bureau combineert employer branding, paid media (sea/social/display) en social media. Uit de publiek bekende klantenlijst: Familiehulp, BNP Paribas Fortis, Volvo Car Gent en Stad Leuven.

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: € 3,75 mln gross margin, growth +9,6% against a sector median of +1,7%.

At or above sector pace

MarginEBITDA / gross margin · value-added coverage

20212022202320242025

DofficeSector median

EBITDA margin 1,2%, sector median 25,9%. Value-added coverage 1,01 (median 1,26). 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

€ 102.834

Median all agencies (2025) € 79.283

Against a payroll cost of € 103.851 per FTE. The ratio between the two is the coverage rate above.

Above the median

Yield levelYield per hour worked, against payroll cost

€ 68

Median all agencies (2025) € 49

55.441 hours worked, 1.519 per FTE. Against that sits € 68 of payroll cost per hour worked, leaving € -1 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: 0,7 months (median 6,7 mo). Equity in the latest year: € 217.867.

Critical buffer

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

Cash € 155.969. Liquidity ratio 1,69: current assets cover short-term debt in full. Solvency 4,2%.

Amply covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 69 days of supplier credit, sector median 59. The accounts were filed 112 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

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
Sharp drop in equity · 31 Dec 2025 · NBB
The financial reserve shrank by more than 30% over two financial years. A dividend, buying out a partner and a loss-making year all look the same here. Ask which of the three it was.
Critical buffer · 31 Dec 2025 · 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.
Board change · 16 Dec 2025 · Staatsblad
Appointments or resignations on the board. Routine during growth, succession or a new partner. Ask about it when several changes follow each other closely.
Board change · 9 Jul 2025 · Staatsblad
Appointments or resignations on the board. Routine during growth, succession or a new partner. Ask about it when several changes follow each other closely.
+ 2 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

Team grew (+2,8% FTE in the latest year)
Healthy working capital (current ratio 1,69)
Turnover below the median (13,7%)

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	€ 3,35 mln	€ 3,70 mln+10,6%	€ 4,14 mln+11,8%	€ 3,43 mln-17,2%	€ 3,75 mln+9,6%
EBITDA	€ 405.450	€ 273.275	€ 210.732	€ 57.577	€ 46.732
EBITDA margin	12,1%	7,4%	5,1%	1,7%	1,2%
Staff
FTE	35,7	37,9+6,2%	38,9+2,6%	35,5-8,7%	36,5+2,8%
Gross margin per FTE	€ 93.753	€ 97.643	€ 106.356	€ 96.495	€ 102.834
Payroll cost per FTE	€ 84.905	€ 90.585	€ 103.342	€ 97.778	€ 103.851
Balance sheet
Equity	€ 149.473	€ 248.137	€ 319.022	€ 160.421	€ 217.867
Cash	€ 2,67 mln	€ 886.385	€ 615.681	€ 378.188	€ 155.969
Liquidity ratio	1,88	1,90	2,20	2,17	1,69

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 22/04/2026. 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 14 services

Strategy & Insights

AI & innovation strategy

Advertising & Campaigns

Performance creative & DCO

Media

Digital & programmatic buying Media strategy & planning Offline buying (TV, radio, print, OOH) Search advertising (SEA)

Social, Influencer & Community

Organic social content Social strategy & platform mix

Digital Experience & Tech

SEO & GEO

Data, Measurement & Governance

Dashboards & reporting Data science & analytics (incl. predictive modelling)

Employer Brand & Internal

Employer brand strategy Internal communication Recruitment campaigns

Sector focus

Finance & insuranceAutomotive & mobilityPublic sector & governmentHealth & pharma

Publicly known clients

FamiliehulpBNP Paribas FortisVolvo Car GentStad Leuven

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

1

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

€ 103.851

+67% versus the median

Team composition

36,5 FTE

63% women
38% men

€ 103.851

All 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.

2

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

13,7%

Median all agencies (2025): 33,8%

Inflow 2025

8,2%

3,0 FTE in, 5,0 FTE out

Net team change

-2,0 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.