What is Luna specialised in?

Content strategy & editorial, Copywriting & long-form content, Corporate communication, PR strategy & media relations, Employer brand strategy, Recruitment campaigns.

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

Review: Luna

Q: Who are the clients of Luna?

Among others PwC, Cheops Technology, Mercer, LCL, E5 Mode, Colliers, Mega, Van In, Lab9, Leleux Associated Brokers, Synergrid, Brailleliga, Aldes Benelux, We Invest, Goudwisselkantoor.

Luna is een pr- & communicatiebureau uit Hoeilaart, actief sinds 1993. Op de loonlijst staan ongeveer 6 voltijdse equivalenten. Het bureau combineert pr & communicatie, content & copy en employer branding. Sectorieel richt het bureau zich vooral op b2b, corporate en organisaties (vlaanderen en wallonie).

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: € 317.614 gross margin, growth -7,7% against a sector median of +1,2%.

Shrinking

MarginEBITDA / gross margin · value-added coverage

2022202320242025

LunaSector median

EBITDA margin 11,3%, sector median 25,6%. Value-added coverage 1,13 (median 1,29). 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

€ 55.722

Median (2025) € 83.630

Against a payroll cost of € 47.946 per FTE. The ratio between the two is the coverage rate above.

Below the median

Yield levelYield per hour worked, against payroll cost

€ 41

Median (2025) € 50

7.772 hours worked, 1.364 per FTE. Against that sits € 35 of payroll cost per hour worked, leaving € 6 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: 14,3 months (median 12,2 mo). Equity in the latest year: € 326.143.

Adequate buffer

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

Cash € 60.000. Liquidity ratio 3,52: current assets cover short-term debt in full. Solvency 70,4%.

Amply covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 91 days of supplier credit, sector median 71. The accounts were filed 168 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

Zichtbaarheid verschoven · 1 Nov 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Nov 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete
Board change · 19 Nov 2024 · 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.

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: 14,3 months of payroll in equity
Team grew (+3,6% FTE in the latest year)
Healthy working capital (current ratio 3,52)
Comfortable cash position: 80 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, 2022 to 2025Result, staff and balance sheet

	2022	2023	2024	2025
Result
Gross margin	€ 346.291	€ 337.939-2,4%	€ 344.057+1,8%	€ 317.614-7,7%
EBITDA	€ 74.404	€ 46.904	€ 24.345	€ 35.732
EBITDA margin	21,5%	13,9%	7,1%	11,3%
Staff
FTE	5,1	5,10%	5,5+7,8%	5,7+3,6%
Gross margin per FTE	€ 67.900	€ 66.263	€ 62.556	€ 55.722
Payroll cost per FTE	€ 47.991	€ 56.121	€ 57.027	€ 47.946
Balance sheet
Equity	€ 294.884	€ 311.880	€ 311.139	€ 326.143
Cash	€ 51.563	€ 189.283	€ 230.041	€ 60.000
Liquidity ratio	4,67	6,21	5,08	3,52

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 15/12/2025. 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 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 6 services

Content & Production

Content strategy & editorial Copywriting & long-form content

PR & Reputation

Corporate communication PR strategy & media relations

Employer Brand & Internal

Employer brand strategy Recruitment campaigns

Sector focus

Technology & softwareFinance & insuranceEnergy & utilitiesB2B servicesEducation

Publicly known clients

PwC, Cheops Technology, Mercer, LCL, E5 Mode, Colliers, Mega, Van In, Lab9, Leleux Associated Brokers, Synergrid, Brailleliga, Aldes Benelux, We Invest, Goudwisselkantoor

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

1

People 11 people mapped

The heart of this team is creative: 2 of 11 profiles are makers. Notably, no declared strategists in sight — this agency would rather make than philosophise.

EV

Elsie Van Linthout

A

Annemie

A

Aurelia

C

Catherine

E

Elisabeth

I

Isabelle

J

Jeroen

K

Kiara

K

Kristel

N

Nele

R

Robin

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

€ 47.946

-22% versus the median

Team composition

5,7 FTE

64% women
36% men

€ 47.946

Median PR- & communicatiebureau (2025) € 61.577All 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

35,1%

Median for this type of agency (2025): 35,1%

Inflow 2025

35,1%

2,0 FTE in, 2,0 FTE out

Net team change

0,0 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 2025: the last year for which nearly all accounts have been filed.