What is Handlangers specialised in?

Packaging design, Campaign concepts & big ideas, Campaign execution, Content strategy & editorial, Search advertising (SEA), Influencer & creator marketing.

How big is Handlangers?

Around 16 full-time equivalents (financial year 2025).

Review: Handlangers: B2B content en demand generation agency

Q: Who are the clients of Handlangers?

Among others Hewlett Packard Enterprise, Telenet, Legrand, Vaillant, Decospan, Matexi.

Handlangers: B2B content en demand generation agency

Handlangers werkt ruim tien jaar als contentbureau uit Gent. Met ongeveer 16 VTE is dit een groot bureau. Het bureau combineert content & copy, strategie en branding & identiteit. De klanten komen vooral uit b2b, tech & it, connectiviteit en cybersecurity. Publiek gekende klanten zijn onder meer Telenet Business, Safety Jogger, Greener en Gondella.

Kernactiviteiten:
Handlangers is een full service B2B content en demand generation agency.
Soort klanten:
B2B: IT/Tech, manufacturing & real estate.
Team
Handlangers werkt met een team van ongeveer 30 VTE, waaronder: 2 graphic designers, 2 art-directors, 4 copywriters, 5 projectmanagers, 3 customer success managers, 2 marketing automation specialisten, 3 online marketeers, 1 operations director, 1 business developer.
Zelf omschreven cultuur:
no-nonsense, humor, result-driven, volhardend

Referentieklanten: Hewlett Packard Enterprise, Telenet, Legrand, Vaillant, Decospan, Matexi
Tech stack: Wordpress, Hubspot
Gepercipieerde concurrenten: IO, Springbok, RCA
Inspiratie: Inflexion Group
Ondernemingsnummer: BE0651.799.715
Gemiddelde klantgrootte: 100k

Partnerships

HubSpot Partner

Who do they see as competitors?

Cartel Agency iO Springbok

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: € 1,06 mln gross margin, growth -36,7% against a sector median of -2,3%.

Shrinking

MarginEBITDA / gross margin · value-added coverage

2022202320242025

HandlangersSector median

EBITDA margin 10,6%, sector median 24,2%. Value-added coverage 1,12 (median 1,28). 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

€ 64.808

Median (2024) € 78.822

Against a payroll cost of € 57.167 per FTE. The ratio between the two is the coverage rate above.

Below the median

Yield levelYield per hour worked, against payroll cost

€ 43

Median (2024) € 50

24.784 hours worked, 1.520 per FTE. Against that sits € 38 of payroll cost per hour worked, leaving € 5 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: 5,8 months (median 7,3 mo). Equity in the latest year: € 453.144.

Adequate buffer

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

Cash € 39.947. Liquidity ratio 0,96: current assets cover short-term debt not in full. Solvency 22,1%.

Tightly covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 139 days of supplier credit, sector median 65. The accounts were filed 210 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

Sharp headcount decline · 31 Mar 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

Profitable in every one of the last 4 years
Turnover below the median (53,4%)

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	€ 2,14 mln	€ 1,60 mln-25,2%	€ 1,67 mln+4,3%	€ 1,06 mln-36,7%
EBITDA	€ 635.255	€ 121.360	€ 397.195	€ 111.827
EBITDA margin	29,7%	7,6%	23,8%	10,6%
Staff
FTE	28,3	27,2-3,9%	21,6-20,6%	16,3-24,5%
Gross margin per FTE	€ 75.625	€ 58.874	€ 77.296	€ 64.808
Payroll cost per FTE	€ 52.340	€ 53.670	€ 58.320	€ 57.167
Balance sheet
Equity	€ 361.074	€ 382.879	€ 451.265	€ 453.144
Cash	€ 145.522	€ 46.351	€ 87.996	€ 39.947
Liquidity ratio	0,99	0,98	0,92	0,96

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 27/10/2025. 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 14 Sep 2026. Sector medians based on financial year 2024: the last year for which nearly all accounts have been filed.

What the agency actually does 19 services

Branding & Design

Packaging design

Advertising & Campaigns

Campaign concepts & big ideas Campaign execution

Content & Production

Content strategy & editorial

Media

Search advertising (SEA)

Social, Influencer & Community

Influencer & creator marketing Organic social content Social strategy & platform mix

Digital Experience & Tech

Conversion rate optimisation

CRM, Email & Loyalty

CRM & lifecycle strategy Direct marketing & lead management Marketing automation

Data, Measurement & Governance

Data science & analytics (incl. predictive modelling)

PR & Reputation

Corporate communication PR strategy & media relations

Employer Brand & Internal

Internal communication

Events, Sponsoring & Activation

Brand activation (incl. guerrilla) Events & experiences Sponsorship & partnerships

Sector focus

TelecomTechnology & softwareReal estate & construction

Publicly known clients

Telenet BusinessSafety JoggerGreenerGondellaTenteDecospan

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

1

People 19 people mapped

We mapped 19 people, but this agency keeps job titles to itself — the team page sticks to names. Who does what is best asked over coffee.

A

Ann-Sophie

A

Aäron

B

Bob

C

Caro

F

Fenna

H

Hanneke

I

Iris

I

Isaura

J

Jan-Carel

J

Julie

K

Kristof

L

Louise

L

Lyah

M

Marie

N

Nikki

S

Senne

S

Sofie

T

Tom

W

Wim

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

€ 57.167

-5% versus the median

Team composition

16,3 FTE

62% women
38% men

Training per FTE

0,7 h

Many agencies fill this field in incompletely.

€ 57.167

Median Contentbureau (2024) € 60.062All agencies (2024) € 59.069

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

53,4%

Median for this type of agency (2024): 55,1%

Inflow 2025

12,3%

2,0 FTE in, 8,7 FTE out

Net team change

-6,7 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 2024: the last year for which nearly all accounts have been filed.

Official partnerships 1 badge(s)

HubSpot: Partner1 of 28 Belgian partners in the IKAg database.

As published in the platforms' official partner directories, collected by IKAg.