How big is Next Chapter?

Around 5 full-time equivalents (financial year 2025).

Factsheet & Review

Next Chapter

Social media agency · 5 FTE · East Flanders

The content of this factsheet is in Dutch.

Next Chapter is een social media bureau met thuisbasis in Gent, opgericht in 2019. Het team telt ongeveer 5 medewerkers (VTE).

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: € 353.259 gross margin, growth +4,2% against a sector median of +23,8%.

Growing slower than the sector

MarginEBITDA / gross margin · value-added coverage

20212022202320242025

Next ChapterSector median

EBITDA margin 35,5%, sector median 29,6%. Value-added coverage 1,59 (median 1,35).

Healthy margin

Revenue per headGross margin per FTE, against payroll cost

€ 78.502

Median (2025) € 70.836

Against a payroll cost of € 45.111 per FTE. The ratio between the two is the coverage rate above.

Above the median

Yield levelYield per hour worked, against payroll cost

€ 46

Median (2025) € 42

7.718 hours worked, 1.715 per FTE. Against that sits € 26 of payroll cost per hour worked, leaving € 19 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.

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: 19,3 months (median 7,4 mo). Equity in the latest year: € 342.463.

Adequate buffer

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

Cash € 147.964. Liquidity ratio 1,99: current assets cover short-term debt in full. Solvency 52,2%.

Amply covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 268 days of supplier credit, sector median 57. The accounts were filed 203 days after closing; the legal deadline is seven months.

Pays slower than average

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

No signals in the last 24 months.

What this agency does well

Gross margin grew 4 years in a row
EBITDA margin above the sector median (35,5%)
Profitable in every one of the last 5 years
Strong buffer: 19,3 months of payroll in equity
Team grew (+4,7% FTE in the latest year)
Value-added per euro of payroll above the sector median (1,59)
No warning signals in the last 24 months
Margin per hour worked rose 3 years in a row
Healthy working capital (current ratio 1,99)
Comfortable cash position: 266 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.

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	€ 117.866	€ 137.681+16,8%	€ 304.397+121,1%	€ 339.023+11,4%	€ 353.259+4,2%
EBITDA	€ 63.050	€ 38.178	€ 127.182	€ 126.347	€ 125.383
EBITDA margin	53,5%	27,7%	41,8%	37,3%	35,5%
Staff
FTE	2,4	2,2-8,3%	4,1+86,4%	4,3+4,9%	4,5+4,7%
Gross margin per FTE	€ 49.111	€ 62.582	€ 74.243	€ 78.843	€ 78.502
Payroll cost per FTE	€ 21.667	€ 40.143	€ 41.941	€ 42.966	€ 45.111
Balance sheet
Equity	€ 72.223	€ 91.730	€ 176.298	€ 256.725	€ 342.463
Cash	€ 57.392	€ 41.202	€ 54.621	€ 55.919	€ 147.964
Liquidity ratio	1,16	1,20	1,52	1,64	1,99

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 22/07/2026. 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 2 Nov 2026. Sector medians based on financial year 2025: the last year for which nearly all accounts have been filed.

Frequently asked questions about Next Chapter

When was Next Chapter founded?: In 2019.
Where is Next Chapter located?: In Gent, Belgium.
How big is Next Chapter?: Around 5 full-time equivalents (financial year 2025).

All factsheets

Website: www.nextchapter.be →
Legal form: BV
Address: Koning Albertlaan 114, 9000 Gent
Company number: BE0730.629.338
Sector position: Bigger than roughly 60% of its peers

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Based on a gross margin of € 353.259 (financial year 2025).

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Figures from the annual accounts up to financial year 2025. Company details checked against the CBE register on 2026-10-29.

Next Chapter

How this agency makes money

Can the agency take a hit

Signals and strengths

Continuity

What this agency does well

All the figures

What this factsheet does not know

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