How big is Studio Rabona?

Around 4 full-time equivalents (financial year 2025).

Review: Studio Rabona

Q: What is Studio Rabona specialised in?

Content strategy & editorial, Copywriting & long-form content, Video production.

Q: Who are the clients of Studio Rabona?

Among others GoPlay, VTM, DPG Media, Telenet, Pickx+, Proximus, VSV, Joe, Ketnet & VRT MAX, Koning Boudewijnstichting, Assa Abloy, Het Nieuwsblad, Easykit, KVG, Croky.

Studio Rabona bestaat sinds 2020 en profileert zich als productiehuis uit Antwerpen. Op de loonlijst staan ongeveer 4 voltijdse equivalenten. De opgegeven expertise is video & productie en content & copy. Sectoren waar het bureau vaak werkt: brede merken/contentmarketing.

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

202320242025

Latest year: € 296.490 gross margin, growth +47,8% against a sector median of 0%.

At or above sector pace

MarginEBITDA / gross margin · value-added coverage

202320242025

Studio RabonaSector median

EBITDA margin 38,8%, sector median 45,7%. Value-added coverage 1,64 (median 1,46).

Healthy margin

Revenue per headGross margin per FTE, against payroll cost

€ 70.593

Median (2025) € 77.875

Against a payroll cost of € 41.181 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) € 48

7.227 hours worked, 1.721 per FTE. Against that sits € 24 of payroll cost per hour worked, leaving € 17 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: 9,3 months (median 9,9 mo). Equity in the latest year: € 139.165.

Adequate buffer

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

Cash € 18.828. Liquidity ratio 1,41: current assets cover short-term debt in full. Solvency 59,6%.

Amply covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 3 days of supplier credit, sector median 58. The accounts were filed 211 days after closing; the legal deadline is seven months.

Pays and files on time

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 Oct 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Oct 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete
Sharp drop in equity · 31 Dec 2025 · NBB
The financial reserve shrank by more than 30% over two financial years. A dividend, buying out a partner and a loss-making year all look the same here. Ask which of the three it was.
+ 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

Strong buffer: 9,3 months of payroll in equity
Team grew (+5,0% FTE in the latest year)
Value-added per euro of payroll above the sector median (1,64)
Healthy working capital (current ratio 1,41)
Equity was earned, not injected (reserves 45,4× the capital contributed)
Turnover below the median (23,8%)

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.

3 financial years, 2023 to 2025Result, staff and balance sheet

	2023	2024	2025
Result
Gross margin	€ 283.268	€ 200.609-29,2%	€ 296.490+47,8%
EBITDA	€ 170.008	€ 21.561	€ 115.090
EBITDA margin	60%	10,7%	38,8%
Staff
FTE	3,3	4,0+21,2%	4,2+5%
Gross margin per FTE	€ 85.839	€ 50.152	€ 70.593
Payroll cost per FTE	€ 34.057	€ 42.446	€ 41.181
Balance sheet
Equity	€ 288.646	€ 276.810	€ 139.165
Cash	€ 31.717	€ 14.693	€ 18.828
Liquidity ratio	3,15	2,70	1,41

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 30/07/2026. 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.

What the agency actually does 3 services

Content & Production

Content strategy & editorial Copywriting & long-form content Video production

Sector focus

Media & entertainmentTelecomFMCGReal estate & constructionRetail & e-commerce

Publicly known clients

GoPlay, VTM, DPG Media, Telenet, Pickx+, Proximus, VSV, Joe, Ketnet & VRT MAX, Koning Boudewijnstichting, Assa Abloy, Het Nieuwsblad, Easykit, KVG, Croky

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

1

People 1 people mapped

PV

Pauline Van Aelst

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

€ 41.181

-26% versus the median

Team composition

4,2 FTE

42% women
58% men

€ 41.181

Median Productiehuis (2025) € 55.256All 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

23,8%

Median for this type of agency (2025): 30,8%

Inflow 2025

42,9%

1,8 FTE in, 1,0 FTE out

Net team change

+0,8 FTE

202320242025

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.