What is Studio 27 specialised in?

Content strategy & editorial, Copywriting & long-form content, Organic social content, Social strategy & platform mix.

How big is Studio 27?

Around 14 full-time equivalents (financial year 2025).

Review: Studio 27

Q: Who are the clients of Studio 27?

Among others La Vie en Bois, Pglas, Era Noord, Ayano, Rodenburgh Immobiliën.

Sinds 2019 is Studio 27 actief als full-service bureau uit Rijkevorsel. Op de loonlijst staan ongeveer 15 voltijdse equivalenten. Het aanbod is gericht op content & copy en social media. Het zwaartepunt ligt bij opdrachtgevers uit kmo's en merken in de kempen-regio. Tot de publiek bekende klanten behoren La Vie en Bois, Pglas, Era Noord en Ayano.

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: € 937.153 gross margin, growth -0,3% against a sector median of +1,7%.

Growing slower than the sector

MarginEBITDA / gross margin · value-added coverage

20212022202320242025

Studio 27Sector median

EBITDA margin 25,3%, sector median 23,9%. Value-added coverage 1,34 (median 1,27).

Healthy margin

Revenue per headGross margin per FTE, against payroll cost

€ 68.405

Median (2025) € 78.251

Against a payroll cost of € 50.415 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) € 49

22.734 hours worked, 1.659 per FTE. Against that sits € 30 of payroll cost per hour worked, leaving € 11 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: 11,7 months (median 5,8 mo). Equity in the latest year: € 674.551.

Adequate buffer

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

Cash € 297.702. Liquidity ratio 1,59: current assets cover short-term debt in full. Solvency 38,7%.

Amply covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 12 days of supplier credit, sector median 54. The accounts were filed 243 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

Points to ask about

Signals in the last 24 months

Zichtbaarheid verschoven · 1 Nov 2026 · Google Autocomplete
Board change · 21 Sep 2026 · 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.
Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete
Late filing · 31 Aug 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
+ 1 older signals within 24m

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

EBITDA margin above the sector median (25,3%)
Profitable in every one of the last 5 years
Strong buffer: 11,7 months of payroll in equity
Value-added per euro of payroll above the sector median (1,34)
Healthy working capital (current ratio 1,59)
Equity was earned, not injected (reserves 53,0× the capital contributed)
Comfortable cash position: 157 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	€ 261.402	€ 686.059+162,5%	€ 982.476+43,2%	€ 940.085-4,3%	€ 937.153-0,3%
EBITDA	€ 197.394	€ 413.769	€ 455.402	€ 208.758	€ 237.305
EBITDA margin	75,5%	60,3%	46,4%	22,2%	25,3%
Staff
FTE	4,2	6,7+59,5%	12,3+83,6%	14,7+19,5%	13,7-6,8%
Gross margin per FTE	€ 62.239	€ 102.397	€ 79.876	€ 63.951	€ 68.405
Payroll cost per FTE	€ 15.133	€ 38.448	€ 42.349	€ 49.355	€ 50.415
Balance sheet
Equity	€ 226.137	€ 463.587	€ 666.122	€ 683.262	€ 674.551
Cash	€ 94.701	€ 304.729	€ 206.927	€ 194.732	€ 297.702
Liquidity ratio	0,98	1,11	1,49	1,48	1,59

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 31/08/2026. 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 4 services

Content & Production

Content strategy & editorial Copywriting & long-form content

Social, Influencer & Community

Organic social content Social strategy & platform mix

Sector focus

Real estate & construction

Publicly known clients

La Vie en BoisPglasEra NoordAyanoRodenburgh Immobiliën

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

1

People 12 people mapped

The heart of this team is creative: 6 of 12 profiles are makers. Within that core, Video, Fotografie and Design stand out. Notably, no declared strategists in sight — this agency would rather make than philosophise.

AG

Arne Goetschalckx

Zaakvoerder

VV

Vincent Verleije

Zaakvoerder

WG

Wout Goos

Zaakvoerder

AD

Anouk de Hoon

Grafisch ontwerper

BB

Bjorn Borgers

Content creator

DB

Danique Bosch

Social media expert

GB

Griet Beyens

Grafisch ontwerper

GV

Guus Van den Heuvel

Content creator

IP

Ines Permentiers

Content creator

JA

Johanna Augustyns

Performance marketeer

KV

Klaas Vanhove

Web developer

VH

Viktor Hendrickx

Content creator

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

€ 50.415

-17% versus the median

Team composition

13,7 FTE

53% women
47% men

€ 50.415

Median Full-service bureau (2025) € 60.368All 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

74,5%

Median for this type of agency (2025): 31,1%

Inflow 2025

59,9%

8,2 FTE in, 10,2 FTE out

Net team change

-2,0 FTE

20212022202320242025

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