What is Krokant specialised in?

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

Around 6 full-time equivalents (financial year 2025).

Review: Krokant

Q: Who are the clients of Krokant?

Among others Tiense Suiker, DAS, VDAB, Tibeflex, Willy's Moustache, IBeton, Airworld, Gemeente Bornem, All Seasons Veranda's, Nature Solutions, Uitvaartzorg De Ruyte, De Wolf Opticiens, Sass Architecten, Logo Antwerpen, Velt.

Krokant, opgericht in 2021, is een creatief bureau uit Boom. Met ongeveer 6 VTE is dit een middelgroot bureau. Het bureau combineert creatie & reclame, strategie, branding & identiteit en content & copy.

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: € 375.708 gross margin, growth -17,9% against a sector median of -0,1%.

Shrinking

MarginEBITDA / gross margin · value-added coverage

2022202320242025

KrokantSector median

EBITDA margin 1%, sector median 22,3%. Value-added coverage 1,01 (median 1,20). 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

€ 64.777

Median (2024) € 72.309

Against a payroll cost of € 63.619 per FTE. The ratio between the two is the coverage rate above.

Below the median

Yield levelYield per hour worked, against payroll cost

€ 38

Median (2024) € 45

9.980 hours worked, 1.721 per FTE. Against that sits € 37 of payroll cost per hour worked, leaving € 1 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: -0,6 months (median 6,9 mo). Equity in the latest year: € -18.813.

Critical buffer

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

Cash € 47.440. Liquidity ratio 0,59: current assets cover short-term debt not in full. Solvency -6,2%.

Not covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 101 days of supplier credit, sector median 73. The accounts were filed 212 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

2 red flag(s) (24m)

Signals in the last 24 months

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.
Negative equity · 31 Dec 2025 · NBB
Debts exceed assets. Sometimes a subordinated shareholder loan sits opposite that, sometimes not. Ask how the agency is covering this, and on what timescale.
Sharp drop in equity · 31 Dec 2025 · 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.
Critical buffer · 31 Dec 2025 · NBB
Equity covers less than one month of payroll. At an agency that pays out its profit every year this means something different than at one that is losing money. Ask where the reserve sits.
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.

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

Margin per hour worked rose 3 years in a row
Equity was earned, not injected (reserves 10,0× the capital contributed)

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	€ 349.781	€ 409.632+17,1%	€ 457.354+11,7%	€ 375.708-17,9%
EBITDA	€ 6.958	€ 34.596	€ 24.414	€ 3.602
EBITDA margin	2%	8,4%	5,3%	1%
Staff
FTE	-	7,4	8,5+14,9%	5,8-31,8%
Gross margin per FTE	-	€ 55.356	€ 53.806	€ 64.777
Payroll cost per FTE	-	€ 50.300	€ 46.515	€ 63.619
Balance sheet
Equity	€ 2.102	€ 13.967	€ 16.509	€ -18.813
Cash	€ 69.159	€ 99.343	€ 56.297	€ 47.440
Liquidity ratio	1,33	1,32	1,04	0,59

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 31/07/2026. 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 7 services

Strategy & Insights

Brand strategy & positioning Marketing strategy

Branding & Design

Brand identity & design

Advertising & Campaigns

Campaign concepts & big ideas Campaign execution

Content & Production

Content strategy & editorial Copywriting & long-form content

Sector focus

Finance & insurancePublic sector & governmentFood & beverageReal estate & constructionRetail & e-commerce

Publicly known clients

Tiense Suiker, DAS, VDAB, Tibeflex, Willy's Moustache, IBeton, Airworld, Gemeente Bornem, All Seasons Veranda's, Nature Solutions, Uitvaartzorg De Ruyte, De Wolf Opticiens, Sass Architecten, Logo Antwerpen, Velt

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

1

People 1 people mapped

J

Jeroen

Founder

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

€ 63.619

+4% versus the median

Team composition

5,8 FTE

66% women
34% men

Training per FTE

0,0 h

Many agencies fill this field in incompletely.

€ 63.619

Median Creatief bureau (2024) € 61.047All 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.

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

120,7%

Median for this type of agency (2024): 32,5%

Inflow 2025

86,2%

5,0 FTE in, 7,0 FTE out

Net team change

-2,0 FTE

202320242025

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.