Around 7 full-time equivalents (financial year 2025).

Review: E-Volve

E-Volve is een full-service bureau uit Hasselt, actief sinds 2018. Er werken ongeveer 7 mensen, uitgedrukt in 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: € 547.736 gross margin, growth +10,3% against a sector median of +1,4%.

At or above sector pace

MarginEBITDA / gross margin · value-added coverage

20212022202320242025

E-VolveSector median

EBITDA margin 25,3%, sector median 21,9%. Value-added coverage 1,34 (median 1,24).

Healthy margin

Revenue per headGross margin per FTE, against payroll cost

€ 76.075

Median (2024) € 72.161

Against a payroll cost of € 56.415 per FTE. The ratio between the two is the coverage rate above.

Around the median

Yield levelYield per hour worked, against payroll cost

€ 42

Median (2024) € 44

12.944 hours worked, 1.798 per FTE. Against that sits € 31 of payroll cost per hour worked, leaving € 11 for premises, equipment, depreciation and profit.

Around 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: 2,5 months (median 5,6 mo). Equity in the latest year: € 84.638.

Thin buffer

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

Cash € 222.511. Liquidity ratio 1,20: current assets cover short-term debt in full. Solvency 17,3%.

Amply covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 65 days of supplier credit, sector median 61. The accounts were filed 111 days after closing; the legal deadline is seven months.

Pays and files on time

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

Points to ask about

Signals in the last 24 months

Thin buffer · 31 Dec 2025 · NBB
Equity covers less than three months of payroll. A limited reserve, and at many smaller agencies the normal state of affairs. Ask how the agency absorbs a setback.
Sharp headcount decline · 31 Dec 2024 · NBB
Average 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.

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 (25,3%)
Team grew (+18,0% FTE in the latest year)
Value-added per euro of payroll above the sector median (1,34)
Healthy working capital (current ratio 1,20)
Equity was earned, not injected (reserves 7,5× the capital contributed)
Comfortable cash position: 200 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	€ 347.141	€ 426.102+22,7%	€ 505.162+18,6%	€ 496.716-1,7%	€ 547.736+10,3%
EBITDA	€ 34.188	€ -118.199	€ 117.522	€ 148.952	€ 138.348
EBITDA margin	9,8%	-27,7%	23,3%	30%	25,3%
Staff
FTE	8,3	8,9+7,2%	7,3-18%	6,1-16,4%	7,2+18%
Gross margin per FTE	€ 41.824	€ 47.877	€ 69.200	€ 81.429	€ 76.075
Payroll cost per FTE	€ 37.294	€ 57.339	€ 52.803	€ 56.484	€ 56.415
Balance sheet
Equity	€ 24.691	€ -134.797	€ -61.163	€ 15.967	€ 84.638
Cash	€ 37.597	€ 84.701	€ 38.345	€ 71.976	€ 222.511
Liquidity ratio	1,00	0,51	0,65	0,96	1,20

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 28 Sep 2026. Sector medians based on financial year 2024: 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 11 people mapped

The heart of this team is creative: 3 of 11 profiles are makers. Within that core, Copywriting and Design stand out. The titles skew top-heavy: lots of seniority, few juniors — you're mostly buying experience. A wide leadership layer: 4 of 11 steer.

EP

Eveline Palmen

Partner

JS

Jurgen Somers

Mede-zaakvoerder

LA

Loriana Allegrezza

Founder

VC

Valerie Claes

Partner

AS

Anneleen Scheepers

MarCom Professional

BS

Bea Steegmans

Customer Succes Manager

LN

Lorena Nasello

Customer Succes Manager

PM

Pitt Martens

MarCom Professional

SF

Sarah Furia

Digital Lead

TS

Tyana Segers

People & Office Assistent

VP

Valentino Palmieri

MarCom Professional

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

€ 56.415

-1% versus the median

Team composition

7,2 FTE

86% women
14% men

Training per FTE

4,9 h

Many agencies fill this field in incompletely.

€ 56.415

Median Full-service bureau (2024) € 57.083All agencies (2024) € 58.997

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

41,7%

Median for this type of agency (2024): 32,8%

Inflow 2025

69,4%

5,0 FTE in, 3,0 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 2024: the last year for which nearly all accounts have been filed.