What is Encore Agency specialised in?

Marketing strategy, Campaign concepts & big ideas, Campaign execution.

How big is Encore Agency?

Around 4 full-time equivalents (financial year 2025).

Which sectors does Encore Agency work for?

Hospitality & tourism, Food & beverage.

Review: Encore Agency

Q: Who are the clients of Encore Agency?

Among others Hertog Jan Restaurant Group, Tabloo, Van der Valk - Park Lane, Unruly, Greenpeace, The Dominican, Incendin, Run To Kick, Agaris, MOOY, CEIR, Dierendonck, Judo Vlaanderen, RACB, Carcasse.

Encore Agency is een creatief bureau uit Beersel, actief sinds 2023. De bezetting ligt rond 4 VTE. Het aanbod is gericht op strategie en creatie & reclame.

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

202320242025

Latest year: € 283.718 gross margin, growth -2,3% against a sector median of -0,2%.

Growing slower than the sector

MarginEBITDA / gross margin · value-added coverage

202320242025

Encore AgencySector median

EBITDA margin 26,2%, sector median 21,9%. Value-added coverage 1,36 (median 1,23).

Healthy margin

Revenue per headGross margin per FTE, against payroll cost

€ 72.748

Median (2025) € 78.663

Against a payroll cost of € 53.551 per FTE. The ratio between the two is the coverage rate above.

Around the median

Yield levelYield per hour worked, against payroll cost

€ 43

Median (2025) € 49

6.530 hours worked, 1.674 per FTE. Against that sits € 32 of payroll cost per hour worked, leaving € 11 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: 4,0 months (median 7,7 mo). Equity in the latest year: € 69.502.

Adequate buffer

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

Cash € 214.705. Liquidity ratio 1,19: current assets cover short-term debt in full. Solvency 19,8%.

Tightly covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 146 days of supplier credit, sector median 85. The accounts were filed 166 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

Registered office moved · 14 Oct 2026 · Staatsblad
The registered office relocated. Usually just a new office.
Zichtbaarheid verschoven · 1 Oct 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Aug 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 (26,2%)
Team grew (+5,4% FTE in the latest year)
Value-added per euro of payroll above the sector median (1,36)
Equity was earned, not injected (reserves 12,9× the capital contributed)
Comfortable cash position: 375 days of payroll
Turnover below the median (25,6%)

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.

3 financial years, 2023 to 2025Result, staff and balance sheet

	2023	2024	2025
Result
Gross margin	€ 6.556	€ 290.284+4.327,7%	€ 283.718-2,3%
EBITDA	€ -75.562	€ 114.091	€ 74.280
EBITDA margin	-	39,3%	26,2%
Staff
FTE	1,9	3,7+94,7%	3,9+5,4%
Gross margin per FTE	€ 3.451	€ 78.455	€ 72.748
Payroll cost per FTE	€ 42.753	€ 47.432	€ 53.551
Balance sheet
Equity	€ -72.147	€ 23.423	€ 69.502
Cash	€ 21.294	€ 131.975	€ 214.705
Liquidity ratio	0,41	1,05	1,19

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 15/06/2026. 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 3 services

Strategy & Insights

Marketing strategy

Advertising & Campaigns

Campaign concepts & big ideas Campaign execution

Sector focus

Travel & hospitalityFood & beverageB2B servicesMedia & entertainment

Publicly known clients

Hertog Jan Restaurant Group, Tabloo, Van der Valk - Park Lane, Unruly, Greenpeace, The Dominican, Incendin, Run To Kick, Agaris, MOOY, CEIR, Dierendonck, Judo Vlaanderen, RACB, Carcasse

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

1

People 12 people mapped

The heart of this team is creative: 2 of 12 profiles are makers. One strategist on board — enough to hold the direction, not to fill meetings.

KV

Kris Verbeeck

Founding Partner

LS

Lana Schalbroeck

Head of Hospitality

MV

Matti Verbeeck Marinovic

CEO

RV

Roel van Lerberghe

ESG Director & Sustainability Consultant

CC

Cheenwêg Chion

Creative Producer / Manager

KT

Kevin Tumba

Encore Sports & Business Development

MG

Mathias Geboers

Manager Encore Sports

SB

Sara Buggenhout

Visual & Graphic Support

SD

Stijn Dhondt

Sustainability Consultant

TM

Timon Michiels

Encore Hospitality

WL

Wouter Lox

Public Affairs Officer

ZC

Zeno Callens

Sustainability Consultant

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

€ 53.551

-17% versus the median

Team composition

3,9 FTE

€ 53.551

Median Creatief bureau (2025) € 64.418All 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

25,6%

Median for this type of agency (2025): 34,5%

Inflow 2025

/

202320242025

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.