How big is Indiandribble?

Around 3 full-time equivalents (financial year 2025).

Which sectors does Indiandribble work for?

Automotive & mobility, Hospitality & tourism, Public sector & non-profit, Food & beverage.

Review: Indiandribble

Q: What is Indiandribble specialised in?

Campaign concepts & big ideas, Campaign execution, Content strategy & editorial, Copywriting & long-form content, Corporate communication, PR strategy & media relations.

Q: Who are the clients of Indiandribble?

Among others Stad Oostende, Alpro, Fost Plus, Visit Flanders, Recupel, Polestar.

Vanuit Brussel werkt Indiandribble sinds 2013 als contentbureau. Het team telt ongeveer 3 medewerkers (VTE). De opgegeven expertises zijn content & copy, pr & communicatie en creatie & reclame. Het zwaartepunt ligt bij opdrachtgevers uit merken, overheid/steden, toerisme en fmcg. Uit de publiek bekende klantenlijst: Stad Oostende, Alpro, Fost Plus en Visit Flanders.

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: € 287.845 gross margin, growth -67,4% against a sector median of -2,3%.

Shrinking

MarginEBITDA / gross margin · value-added coverage

20212022202320242025

IndiandribbleSector median

EBITDA margin 36,2%, sector median 24,2%. Value-added coverage 1,66 (median 1,28).

Healthy margin

Revenue per headGross margin per FTE, against payroll cost

€ 99.257

Median (2024) € 78.822

Against a payroll cost of € 54.649 per FTE. The ratio between the two is the coverage rate above.

Above the median

Yield levelYield per hour worked, against payroll cost

€ 60

Median (2024) € 50

4.817 hours worked, 1.661 per FTE. Against that sits € 33 of payroll cost per hour worked, leaving € 27 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: 3,9 months (median 7,3 mo). Equity in the latest year: € 52.075.

Adequate buffer

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

Cash € 77.837. Liquidity ratio 0,44: current assets cover short-term debt not in full. Solvency 4,7%.

Not covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 190 days of supplier credit, sector median 65. The accounts were filed 208 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

Points to ask about

Signals in the last 24 months

Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete
Sharp headcount decline · 31 Dec 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.
Loss-making year · 31 Dec 2025 · NBB
One financial year closed at a loss. The size is not shown here: it can be a few thousand euros, a one-off settlement, or a deliberate investment. Ask the agency what was behind it.
Board change · 11 Aug 2025 · Staatsblad
Appointments or resignations on the board. Routine during growth, succession or a new partner. Ask about it when several changes follow each other closely.
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.
Sharp drop in equity · 31 Dec 2024 · NBB
The financial reserve shrank by more than 30% over two financial years. A dividend, buying out a partner and a loss-making year all look the same here. Ask which of the three it was.
+ 2 older signals within 24m

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 (36,2%)
Value-added per euro of payroll above the sector median (1,66)
Margin per hour worked rose 3 years in a row
Equity was earned, not injected (reserves 40,9× the capital contributed)
Comfortable cash position: 179 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	€ 984.152	€ 1,19 mln+20,7%	€ 1,18 mln-0,7%	€ 882.927-25,2%	€ 287.845-67,4%
EBITDA	€ 322.648	€ 113.884	€ -167.382	€ 205.135	€ 104.097
EBITDA margin	32,8%	9,6%	-14,2%	23,2%	36,2%
Staff
FTE	12,5	19,5+56%	23,6+21%	10,7-54,7%	2,9-72,9%
Gross margin per FTE	€ 78.732	€ 60.917	€ 49.995	€ 82.517	€ 99.257
Payroll cost per FTE	€ 52.060	€ 54.660	€ 62.829	€ 60.062	€ 54.649
Balance sheet
Equity	€ 251.987	€ 299.072	€ 37.257	€ 80.030	€ 52.075
Cash	€ 370.014	€ 63.657	€ 26.346	€ 49.760	€ 77.837
Liquidity ratio	1,42	1,34	0,80	0,69	0,44

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 27/07/2026. 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 21 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 6 services

Advertising & Campaigns

Campaign concepts & big ideas Campaign execution

Content & Production

Content strategy & editorial Copywriting & long-form content

PR & Reputation

Corporate communication PR strategy & media relations

Sector focus

merkenoverheid/stedentoerismeFMCGautomotive

From our own research. The agency hasn't listed its sectors yet.

Publicly known clients

Stad OostendeAlproFost PlusVisit FlandersRecupelPolestar

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

1

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

€ 54.649

-9% versus the median

Team composition

2,9 FTE

€ 54.649

Median Contentbureau (2024) € 60.062All agencies (2024) € 59.045

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.

2

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

179,3%

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

Inflow 2025

48,3%

1,4 FTE in, 5,2 FTE out

Net team change

-3,8 FTE

20212022202320242025

Exits are clearly above what is usual for this type of agency. That may reflect project-based staffing, but it is a reason to ask in the pitch how much of the proposed team was already here two years ago, and to contractually fix your permanent contacts.

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.