What is Qastan specialised in?

AI & innovation strategy, Website development.

Around 15 full-time equivalents (financial year 2025).

Which sectors does Qastan work for?

Construction & real estate, Finance & insurance, Retail & e-commerce, Healthcare & pharma.

Review: Qastan

Qastan bestaat sinds 1998 en profileert zich als softwarebureau uit Kuurne. Het team telt ongeveer 14 medewerkers (VTE). De opgegeven expertise is webdevelopment en ai & automatisering. Sectoren waar het bureau vaak werkt: bouw, banken, retail en zorg.

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: € 1,20 mln gross margin, growth +7,7% against a sector median of +8,7%.

Growing slower than the sector

MarginEBITDA / gross margin · value-added coverage

20212022202320242025

QastanSector median

EBITDA margin 30%, sector median 23%. Value-added coverage 1,43 (median 1,19).

Healthy margin

Revenue per headGross margin per FTE, against payroll cost

€ 82.528

Median (2025) € 82.528

Against a payroll cost of € 57.107 per FTE. The ratio between the two is the coverage rate above.

Around the median

Yield levelYield per hour worked, against payroll cost

€ 53

Median (2025) € 53

22.760 hours worked, 1.570 per FTE. Against that sits € 36 of payroll cost per hour worked, leaving € 16 for premises, equipment, depreciation and profit.

Around 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: 8,6 months (median 6,7 mo). Equity in the latest year: € 596.128.

Adequate buffer

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

Cash € 213.005. Liquidity ratio 1,26: current assets cover short-term debt in full. Solvency 42,3%.

Amply covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 73 days of supplier credit, sector median 43. The accounts were filed 287 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

Late filing · 14 Oct 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

Gross margin grew 4 years in a row
EBITDA margin above the sector median (30,0%)
Strong buffer: 8,6 months of payroll in equity
Team grew (+4,3% FTE in the latest year)
Value-added per euro of payroll above the sector median (1,43)
Margin per hour worked rose 2 years in a row
Healthy working capital (current ratio 1,26)
Equity was earned, not injected (reserves 31,0× the capital contributed)
Comfortable cash position: 94 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	€ 798.604	€ 892.861+11,8%	€ 994.327+11,4%	€ 1,11 mln+11,7%	€ 1,20 mln+7,7%
EBITDA	€ 302.010	€ 187.295	€ 26.312	€ 270.645	€ 359.188
EBITDA margin	37,8%	21%	2,6%	24,4%	30%
Staff
FTE	9,9	14,1+42,4%	14,9+5,7%	13,9-6,7%	14,5+4,3%
Gross margin per FTE	€ 80.667	€ 63.323	€ 66.733	€ 79.912	€ 82.528
Payroll cost per FTE	€ 49.531	€ 49.684	€ 62.868	€ 59.986	€ 57.107
Balance sheet
Equity	€ 402.537	€ 472.635	€ 360.960	€ 452.497	€ 596.128
Cash	€ 230.636	€ 129.206	€ 248.747	€ 188.748	€ 213.005
Liquidity ratio	1,63	1,22	1,16	1,27	1,26

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 14/10/2026. 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 2 services

Strategy & Insights

AI & innovation strategy

Digital Experience & Tech

Website development

Sector focus

Bouwbankenretailzorg

From our own research. The agency hasn't listed its sectors yet.

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

1

People 18 people mapped

This is first a build crew — 8 of 18 are developers. Within that core, Backend, Frontend and Full Stack stand out. There are 3 strategists around — expect thinking first, pixels second.

AD

Arne Debruyne

CEO

AD

Ante Dutrieue

Team Automatiseren

BV

Bea Verhoyen

Dispatch & Planning

DD

Dave Desloovere

Team Infrastructuur

GD

Geert Debruyne

Business Analist | Bestuurder

HG

Hanne Glas

Business Analist

JP

Jason Plaetevoet

Team Automatiseren

JD

Jelle Defoort

Team Infrastructuur

JD

Joren Debruyne

CTO

KI

Ken-Roy Impens

Team Infrastructuur

MD

Mathias De Coster

Team Digitaliseren

MB

Maxim Buysschaert

Team Automatiseren

PB

Pieter Beernaert

Teamlead Infrastructuur

RH

Robin Heynderickx

Team Infrastructuur

SC

Sandra Czeszek

Team Digitaliseren

SS

Slawomir Szczepanek

Team Automatiseren

TC

Thomas Cappelle

Business analist

VB

Victor Byttebier

Team Digitaliseren | Web

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

€ 57.107

-22% versus the median

Team composition

14,5 FTE

20% women
80% men

Training per FTE

0,0 h

Many agencies fill this field in incompletely.

€ 57.107

Median Softwarebureau (2025) € 72.781All 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

34,5%

Median for this type of agency (2025): 29,1%

Inflow 2025

27,6%

4,0 FTE in, 5,0 FTE out

Net team change

-1,0 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.