What is Plug specialised in?

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

Around 12 full-time equivalents (financial year 2025).

Which sectors does Plug work for?

Construction & real estate, Interior & design, Fashion & lifestyle, Retail & e-commerce.

Review: Plug: branding agency

Q: Who are the clients of Plug?

Plug is een branding- en marketingbureau uit Roeselare, actief sinds 2003. Met een team van circa 14 medewerkers ondersteunt het bureau middelgrote en grote ondernemingen bij strategie, branding, marketing, webdesign, ontwerp en reclame. De klanten bevinden zich voornamelijk in West-Vlaanderen en zijn actief in uiteenlopende sectoren, waaronder voeding, bouw en interieur, vastgoed, medisch, plastisch en meer.

Bij Plug helpen we bedrijven groeien. We combineren grafisch ontwerp, marketing en webdesign tot één sterk geheel. Of je nu wil starten met een nieuwe identiteit, je website wil verbeteren of je merk bekender wil maken, bij Plug vind je alles onder één dak. We begeleiden je van begin tot eind, of stappen specifiek in waar jij ons nodig hebt. We luisteren, denken mee en vertalen marketingdoelen naar concrete resultaten, waarbij we elk merkverhaal vormgeven met impact.

Klanten

Onze klanten variëren in grootte naargelang de sector. We werken het vaakst voor bouw & interieur, voeding, vastgoed, projectontwikkeling & vastgoed, medisch & plastisch en meer. De focus van ons bureau ligt duidelijk op B2B-klanten, zowel in aanpak als in omzetaandeel, al bedienen we in aantal projecten ook een relevante B2C-groep.

Zelfomschreven cultuur

Strategisch scherp, kwaliteitsgedreven, verfijnd en esthetisch, persoonlijk betrokken, rechttoe-rechtaan, betrouwbaar, en rimpelloos in samenwerking.

Tech stack: Kirby | PHP | HTML | Javascript | Sass

Ondernemingsnummer: BE0480.080.417

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: € 888.111 gross margin, growth -35,9% against a sector median of +6,6%.

Shrinking

MarginEBITDA / gross margin · value-added coverage

20212022202320242025

PlugSector median

EBITDA margin 18,9%, sector median 32,2%. Value-added coverage 1,23 (median 1,29).

Below sector level

Revenue per headGross margin per FTE, against payroll cost

€ 72.796

Median (2025) € 82.809

Against a payroll cost of € 57.567 per FTE. The ratio between the two is the coverage rate above.

Below the median

Yield levelYield per hour worked, against payroll cost

€ 42

Median (2025) € 48

21.174 hours worked, 1.736 per FTE. Against that sits € 33 of payroll cost per hour worked, leaving € 9 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: 17,2 months (median 6,3 mo). Equity in the latest year: € 1,03 mln.

Adequate buffer

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

Cash € 228.318. Liquidity ratio 4,61: current assets cover short-term debt in full. Solvency 79,8%.

Amply covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 35 days of supplier credit, sector median 68. The accounts were filed 273 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

No serious signals

Signals in the last 24 months

Zichtbaarheid verschoven · 1 Nov 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Oct 2026 · Google Autocomplete
Late filing · 30 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 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 5 years
Strong buffer: 17,2 months of payroll in equity
Healthy working capital (current ratio 4,61)
Equity was earned, not injected (reserves 54,4× the capital contributed)
Comfortable cash position: 119 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.

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

	2021	2022	2023	2024	2025
Result
Gross margin	€ 889.818	€ 881.691-0,9%	€ 1,03 mln+16,5%	€ 1,39 mln+35%	€ 888.111-35,9%
EBITDA	€ 237.537	€ 219.291	€ 330.889	€ 585.521	€ 167.499
EBITDA margin	26,7%	24,9%	32,2%	42,2%	18,9%
Staff
FTE	12,2	12,1-0,8%	13,3+9,9%	14,0+5,3%	12,2-12,9%
Gross margin per FTE	€ 72.936	€ 72.867	€ 77.230	€ 99.013	€ 72.796
Payroll cost per FTE	€ 52.956	€ 49.932	€ 50.962	€ 54.698	€ 57.567
Balance sheet
Equity	€ 703.611	€ 659.603	€ 777.099	€ 1,05 mln	€ 1,03 mln
Cash	€ 388.566	€ 148.427	€ 321.959	€ 656.779	€ 228.318
Liquidity ratio	2,47	2,67	2,70	2,96	4,61

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 30/09/2026. 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 6 services

Strategy & Insights

Brand strategy & positioning Marketing strategy

Branding & Design

Brand identity & design

Advertising & Campaigns

Campaign concepts & big ideas Campaign execution

Digital Experience & Tech

Website development

Sector focus

Real estate & constructionHealth & pharmaFood & beverageFashion & lifestyleRetail & e-commerce

Publicly known clients

Cobefa, Flandrien Kaas, Romed, RAFF Plastics, Unibra, Raes Construct, Beheyt, Skinject Clinic, I Care Clinic, Hartcentrum AZ Delta, Uniq Estates, Ghelamco, Delhaize, Carrefour, Lidl

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

1

People 11 people mapped

We mapped 11 people, but this agency keeps job titles to itself — the team page sticks to names. Who does what is best asked over coffee.

B

Bert

Zaakvoerder

C

Christoph

J

Joffrey

J

Julie

J

Juliette

M

Marieke

R

Robien

R

Rémy

S

Samy

S

Siebert

T

Tom

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

€ 57.567

-6% versus the median

Team composition

12,2 FTE

50% women
50% men

€ 57.567

Median Brandingbureau (2025) € 60.980All 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

39,3%

Median for this type of agency (2025): 38,9%

Inflow 2025

8,2%

1,0 FTE in, 4,8 FTE out

Net team change

-3,8 FTE

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.