f-twee
The content of this factsheet is in Dutch.
f-twee is een contentbureau uit Gent, actief sinds 1987. De bezetting ligt rond 4 VTE. Het aanbod bestrijkt content & copy, strategie en branding & identiteit. De ervaring zit vooral in ledenorganisaties, overheid en hr-afdelingen (personeelsbladen).
How this agency makes money
Revenue, margin and what an hour of work brings in. Everything on the earning side sits together here.
Can the agency take a hit
Buffer, cash position and payment behaviour side by side, so you can see where they disagree.
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- Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete
- Sharp headcount decline · 31 Dec 2025 · NBBAverage 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.
What this agency does well
- Profitable in every one of the last 5 years
- Strong buffer: 9,1 months of payroll in equity
- Healthy working capital (current ratio 1,78)
- Equity was earned, not injected (reserves 2,2× the capital contributed)
- Comfortable cash position: 83 days of payroll
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 | € 478.510 | € 308.272-35,6% | € 349.286+13,3% | € 342.204-2% | € 291.195-14,9% |
| EBITDA | € 214.772 | € 40.541 | € 79.128 | € 26.525 | € 28.124 |
| EBITDA margin | 44,9% | 13,2% | 22,7% | 7,8% | 9,7% |
| Staff | |||||
| FTE | 4,7 | 4,8+2,1% | 5,0+4,2% | 5,2+4% | 4,1-21,2% |
| Gross margin per FTE | € 101.811 | € 64.223 | € 69.857 | € 65.808 | € 71.023 |
| Payroll cost per FTE | € 55.443 | € 54.642 | € 53.875 | € 60.231 | € 63.926 |
| Balance sheet | |||||
| Equity | € 206.256 | € 160.398 | € 171.689 | € 183.292 | € 198.133 |
| Cash | € 129.604 | € 119.285 | € 150.391 | € 98.878 | € 59.523 |
| Liquidity ratio | 1,38 | 1,69 | 1,84 | 1,72 | 1,78 |
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 16/06/2026. 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 5 services
Sector focus
Publicly known clients
Mucovereniging, Gemeente Overijse, Jan Yperman Ziekenhuis, Fonds 323, Stad Harelbeke, Kom Op Tegen Kanker, Erfgoed Limburg, Provincie Oost-Vlaanderen, Provincie West-Vlaanderen, NMBS, Stad Gent, Liberform
Based on IKAg research and public sources. Incomplete or outdated? Let us know.
People 9 people mapped
The heart of this team is creative: 5 of 9 profiles are makers. Within that core, Design, Art Direction and Copywriting stand out. A specialist, not a generalist: the expertise is narrow but deep. Notably, no declared strategists in sight — this agency would rather make than philosophise.
Based on public profiles. Something wrong? Let us know.
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.
- 50% women
- 50% men
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.
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.
Frequently asked questions about f-twee
- When was f-twee founded?
- In 1987.
- Where is f-twee located?
- In Gent, Belgium.
- What is f-twee specialised in?
- Brand strategy & positioning, Marketing strategy, Brand identity & design, Content strategy & editorial, Copywriting & long-form content.
- How big is f-twee?
- Around 4 full-time equivalents (financial year 2025).
- Which sectors does f-twee work for?
- HR & employer branding, Public sector & non-profit.
- Who are the clients of f-twee?
- Among others Mucovereniging, Gemeente Overijse, Jan Yperman Ziekenhuis, Fonds 323, Stad Harelbeke, Kom Op Tegen Kanker, Erfgoed Limburg, Provincie Oost-Vlaanderen, Provincie West-Vlaanderen, NMBS, Stad Gent, Liberform.
Figures from the annual accounts up to financial year 2025. Company details checked against the CBE register on 2026-10-13.