What is Glue specialised in?

Website development, Website strategy & UX, Digital, E-commerce, Web development, Webshop.

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

Which sectors does Glue work for?

Construction & real estate, Retail & e-commerce, Healthcare & pharma.

Review: Glue: websites en webshops

Q: Who are the clients of Glue?

Among others Film Fest Gent, AZ Zeno, Dewaele Vastgoed, Brooklyn, Brugse Musea, Gimber, S.M.A.K..

Glue, opgericht in 2003, is een digitaal bureau (web & platform) uit Gent. De bezetting ligt rond 7 VTE. De dienstverlening draait om webdevelopment en ux/ui design. Sectoren waar het bureau vaak werkt: retail/e-commerce, cultuursector, vastgoed en ziekenhuizen.

Complexe koppelingen en e-commerce
Glue is een vintage webbureau: ze bouwen websites, webapplicaties en webshops. Hun specialiteit: integreren van alle mogelijke complexe API-koppelingen. Dit wordt gecombineerd met een fijne zin voor esthetiek en UX.
Ze werken projectmatig voor organisaties uit de cultuursector, immo- en projectwereld of ziekenhuizen.
Glue heeft een duidelijke en robuuste aanpak voor service na het project; met een afzonderlijk service team om hun klanten langdurig te ondersteunen.
Dat doen ze op dit moment met 12 VTE’s:

4 developers
4 UX en front-end engineers
2 service medewerkers
2 project managers

Wat ze niet doen: campagnes, online marketing, branding.
Zelf omschrijven ze hun cultuur met volgende trefwoorden: eigenwijs, rock&roll, persoonlijkheid, visie, menselijk, no-nonsense.

Referentieklanten: Film Fest Gent, AZ Zeno, Dewaele Vastgoed, Brooklyn, Brugse Musea, Gimber, S.M.A.K.
Tech stack: Craft CMS, Magento & Shopify, React, Tailwind, Laravel
Grote voorbeelden: Base Design, The Verve, Flatline Agency
Gepercipieerde concurrenten: iO, Cronos, Dropsolid, Make it fly
Werken graag complementair samen met: Wiseo, Dift, Mutant, OMCollective, Ants Connect

Who do they see as competitors?

Dropsolid Esign iO Make It Fly The Craft

As indicated by the agency itself.

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

2022202320242025

Latest year: € 647.883 gross margin, growth +14,2% against a sector median of +3,1%.

At or above sector pace

MarginEBITDA / gross margin · value-added coverage

2022202320242025

GlueSector median

EBITDA margin 31,3%, sector median 22,6%. Value-added coverage 1,46 (median 1,23).

Healthy margin

Revenue per headGross margin per FTE, against payroll cost

€ 96.699

Median (2025) € 77.398

Against a payroll cost of € 29.047 per FTE. The ratio between the two is the coverage rate above.

Above the median

Yield levelYield per hour worked, against payroll cost

€ 57

Median (2025) € 48

11.430 hours worked, 1.706 per FTE. Against that sits € 17 of payroll cost per hour worked, leaving € 40 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: 11,3 months (median 5,3 mo). Equity in the latest year: € 418.779.

Adequate buffer

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

Cash € 279.630. Liquidity ratio 2,51: current assets cover short-term debt in full. Solvency 63,8%.

Amply covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 22 days of supplier credit, sector median 46. The accounts were filed 126 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

Zichtbaarheid verschoven · 1 Nov 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Oct 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete
Sharp headcount decline · 30 Sep 2025 · 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 (31,3%)
Profitable in every one of the last 4 years
Strong buffer: 11,3 months of payroll in equity
Value-added per euro of payroll above the sector median (1,46)
Margin per hour worked rose 2 years in a row
Healthy working capital (current ratio 2,51)
Equity was earned, not injected (reserves 15,9× the capital contributed)
Comfortable cash position: 524 days of payroll
Turnover below the median (26,9%)

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.

4 financial years, 2022 to 2025Result, staff and balance sheet

	2022	2023	2024	2025
Result
Gross margin	€ 1,03 mln	€ 601.846-41,4%	€ 567.303-5,7%	€ 647.883+14,2%
EBITDA	€ 268.197	€ -35.928	€ 43.398	€ 202.509
EBITDA margin	26,1%	-6%	7,6%	31,3%
Staff
FTE	12,2	9,9-18,9%	8,5-14,1%	6,7-21,2%
Gross margin per FTE	€ 84.217	€ 60.792	€ 66.742	€ 96.699
Payroll cost per FTE	€ 54.616	€ 61.813	€ 72	€ 29.047
Balance sheet
Equity	€ 138.678	€ 282.164	€ 293.552	€ 418.779
Cash	€ 613.129	€ 314.510	€ 378.021	€ 279.630
Liquidity ratio	1,15	1,47	1,58	2,51

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 03/02/2026. 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 2 services

Digital Experience & Tech

Website development Website strategy & UX

Sector focus

Retail & e-commerceMedia & entertainmentHealth & pharmaEducationReal estate & construction

Publicly known clients

Schoenen Torfs, Duvel Moortgat, RainPharma, Film Fest Gent, AZ Zeno, Musea Brugge, Dewaele Vastgoed, OVSG, Woody, Gimber, S.M.A.K., Xandres, Flamant, Cosy&Trendy, Athumi

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

1

People 2 people mapped

FQ

Filip Quivreux

KP

Koen Phlips

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

€ 29.047

-54% versus the median

Team composition

6,7 FTE

29% women
71% men

€ 29.047

Median Digitaal bureau (web & platform) (2025) € 63.343All 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

26,9%

Median for this type of agency (2025): 27,9%

Inflow 2025

14,9%

1,0 FTE in, 1,8 FTE out

Net team change

-0,8 FTE

2022202320242025

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.