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

Review: JaJa

Q: What is JaJa specialised in?

Organic social content, Social strategy & platform mix, CRM & lifecycle strategy, Direct marketing & lead management, Marketing automation, Corporate communication.

Q: Who are the clients of JaJa?

Among others Elia, KBC, UZ Gent, UZA, Niko, Deutsche Bank, Port of Antwerp-Bruges, Money Expert.

JaJa, opgericht in 1988, is een contentbureau uit Gent. De bezetting ligt rond 5 VTE. Ze werken rond content & copy, creatie & reclame en pr & communicatie. Het zwaartepunt ligt bij opdrachtgevers uit sectoroverschrijdend b2b (~30 vaste klanten). Namen die publiek aan dit bureau gelinkt worden: Elia, KBC, UZ Gent en UZA.

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: € 367.629 gross margin, growth -13,6% against a sector median of -14,9%.

Shrinking

MarginEBITDA / gross margin · value-added coverage

20212022202320242025

JaJaSector median

EBITDA margin -7,1%, sector median 20,9%. Value-added coverage 0,93 (median 1,21).

Loss-making

Revenue per headGross margin per FTE, against payroll cost

€ 87.531

Median (2025) € 69.584

Against a payroll cost of € 92.657 per FTE. The ratio between the two is the coverage rate above.

Above the median

Yield levelYield per hour worked, against payroll cost

€ 51

Median (2025) € 47

7.162 hours worked, 1.705 per FTE. Against that sits € 54 of payroll cost per hour worked, leaving € -3 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: 9,4 months (median 6,7 mo). Equity in the latest year: € 304.912.

Adequate buffer

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

Cash € 75.986. Liquidity ratio 2,51: current assets cover short-term debt in full. Solvency 68,6%.

Amply covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 79 days of supplier credit, sector median 78. The accounts were filed 250 days after closing; the legal deadline is seven months.

Filed late

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

1 red flag(s) (24m)

Signals in the last 24 months

Zichtbaarheid verschoven · 1 Nov 2026 · Google Autocomplete
Late filing · 7 Sep 2026 · NBB
The annual accounts were filed after the statutory deadline. Over a third of the sector does this, usually because of the accountant's calendar. Rarely a story in itself.
Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete
Board change · 25 Jun 2026 · 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.
Board change · 1 Jun 2026 · 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.
+ 6 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

Strong buffer: 9,4 months of payroll in equity
Healthy working capital (current ratio 2,51)
Equity was earned, not injected (reserves 16,4× the capital contributed)
Comfortable cash position: 71 days of payroll
Turnover below the median (42,9%)

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.

5 financial years, 2021 to 2025Result, staff and balance sheet

	2021	2022	2023	2024	2025
Result
Gross margin	€ 441.203	€ 528.813+19,9%	€ 477.351-9,7%	€ 425.636-10,8%	€ 367.629-13,6%
EBITDA	€ 62.953	€ 129.914	€ 52.049	€ -17.043	€ -26.045
EBITDA margin	14,3%	24,6%	10,9%	-4%	-7,1%
Staff
FTE	6,2	5,6-9,7%	5,60%	5,4-3,6%	4,2-22,2%
Gross margin per FTE	€ 71.162	€ 94.431	€ 85.241	€ 78.822	€ 87.531
Payroll cost per FTE	€ 60.989	€ 71.210	€ 75.923	€ 81.880	€ 92.657
Balance sheet
Equity	€ 321.893	€ 388.175	€ 385.812	€ 346.260	€ 304.912
Cash	€ 291.280	€ 245.833	€ 250.509	€ 149.054	€ 75.986
Liquidity ratio	2,55	2,19	2,21	2,34	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 07/09/2026. 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 7 services

Social, Influencer & Community

Organic social content Social strategy & platform mix

CRM, Email & Loyalty

CRM & lifecycle strategy Direct marketing & lead management Marketing automation

PR & Reputation

Corporate communication

Employer Brand & Internal

Internal communication

Sector focus

Energy & utilitiesFinance & insuranceHealth & pharmaB2B services

Publicly known clients

EliaKBCUZ GentUZANikoDeutsche BankPort of Antwerp-BrugesMoney Expert

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

1

People 7 people mapped

The heart of this team is creative: 5 of 7 profiles are makers. Within that core, Art Direction, Copywriting and Design stand out. A specialist, not a generalist: the expertise is narrow but deep. There are 2 strategists around — expect thinking first, pixels second.

TB

Tinie Bické

Art Director

VS

Valérie Smets

Art Director

EB

Eddy Bettens

Editor

HF

Hans Faelens

Content Strategist

JC

Jan Coessens

Content Advisor

JK

Jan Kurvers

Designer

SV

Siska Verstraete

Editor

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

€ 92.657

+62% versus the median

Team composition

4,2 FTE

62% women
39% men

€ 92.657

Median Contentbureau (2025) € 57.167All 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

42,9%

Median for this type of agency (2025): 43,9%

Inflow 2025

/

20212022202320242025

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.