What is Kpot specialised in?

Brand strategy & positioning, Marketing strategy, Brand identity & design, Campaign concepts & big ideas, Campaign execution.

Around 4 full-time equivalents (financial year 2024).

Review: Kpot

Q: Who are the clients of Kpot?

Among others VRT Sandbox, Rootsum, Pinguino, das Architecten, Objekt Architecten, Museum M, Optiek Yalora, Festival Soon, Skateboard Vlaanderen, The Phoebus Foundation, Kapernikov, Maakleerplek, Radio Studio Brussel, Architecten A33, De Broodenier.

Kpot is al ruim tien jaar actief als brandingbureau uit Wilsele. De opgegeven expertises zijn strategie, branding & identiteit en creatie & reclame. De ervaring zit vooral in generalist (kmo's en lokale en regionale merken).

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

2021202220232024

Latest year: € 220.014 gross margin, growth -26,5% against a sector median of +2,1%.

Shrinking

MarginEBITDA / gross margin · value-added coverage

2021202220232024

KpotSector median

EBITDA margin 5%, sector median 28%. Value-added coverage 1,05 (median 1,30). 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

€ 61.115

Median (2024) € 78.994

Against a payroll cost of € 57.393 per FTE. The ratio between the two is the coverage rate above.

Below the median

Yield levelYield per hour worked, against payroll cost

€ 37

Median (2024) € 47

5.980 hours worked, 1.661 per FTE. Against that sits € 35 of payroll cost per hour worked, leaving € 2 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: 6,1 months (median 8,3 mo). Equity in the latest year: € 105.311.

Adequate buffer

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

Cash € 106.844. Liquidity ratio 1,34: current assets cover short-term debt in full. Solvency 38,3%.

Amply covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 68 days of supplier credit, sector median 74. The accounts were filed 212 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

No serious signals

Signals in the last 24 months

Zichtbaarheid verschoven · 1 Nov 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete

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
Strong buffer: 6,1 months of payroll in equity
Margin per hour worked rose 3 years in a row
Healthy working capital (current ratio 1,34)
Equity was earned, not injected (reserves 4,7× the capital contributed)
Comfortable cash position: 189 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.

4 financial years, 2021 to 2024Result, staff and balance sheet

	2021	2022	2023	2024
Result
Gross margin	€ 339.799	€ 313.091-7,9%	€ 299.174-4,4%	€ 220.014-26,5%
EBITDA	€ 9.557	€ 9.168	€ 28.817	€ 11.040
EBITDA margin	2,8%	2,9%	9,6%	5%
Staff
FTE	7,9	6,9-12,7%	5,3-23,2%	3,6-32,1%
Gross margin per FTE	€ 43.013	€ 45.375	€ 56.448	€ 61.115
Payroll cost per FTE	€ 38.957	€ 39.827	€ 45.667	€ 57.393
Balance sheet
Equity	€ 80.267	€ 83.463	€ 102.032	€ 105.311
Cash	€ 83.313	€ 87.178	€ 109.448	€ 106.844
Liquidity ratio	1,26	1,31	1,39	1,34

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 30/04/2026. 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 2024: the last year for which nearly all accounts have been filed.

What the agency actually does 5 services

Strategy & Insights

Brand strategy & positioning Marketing strategy

Branding & Design

Brand identity & design

Advertising & Campaigns

Campaign concepts & big ideas Campaign execution

Sector focus

Real estate & constructionMedia & entertainmentFood & beveragePublic sector & government

Publicly known clients

VRT Sandbox, Rootsum, Pinguino, das Architecten, Objekt Architecten, Museum M, Optiek Yalora, Festival Soon, Skateboard Vlaanderen, The Phoebus Foundation, Kapernikov, Maakleerplek, Radio Studio Brussel, Architecten A33, De Broodenier

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

1

People 9 people mapped

The heart of this team is creative: 3 of 9 profiles are makers. Within that core, Design, Art Direction and Illustratie stand out. One strategist on board — enough to hold the direction, not to fill meetings.

LD

Larrie Dewaele

Creative Director

TM

Twyla Mergan

Founders

WV

Wouter Vergote

Founders

A

Azra

Sfeerbeheer

EE

Eva Engelen

Brand design

IV

Ianthe Verfaillie

Project Management

MV

Manuel Van den Notelaer

Web, Video

SV

Senne Van den Broeck

Brand design, Illustrator

SV

Sofie Vandezande

Brand Strategy

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

€ 196.670

+243% versus the median

Team composition

0,2 FTE

0% women
100% men

Training per FTE

0,0 h

Many agencies fill this field in incompletely.

€ 196.670

Median Brandingbureau (2024) € 57.393All agencies (2024) € 59.021

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

1.500,0%

Median for this type of agency (2024): 33,9%

Inflow 2025

0,0%

0,0 FTE in, 3,0 FTE out

Net team change

-3,0 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.