What is Tall Guys specialised in?

Campaign concepts & big ideas, Campaign execution, Content strategy & editorial, Digital & programmatic buying, Media strategy & planning, Offline buying (TV, radio, print, OOH).

How big is Tall Guys?

Around 3 full-time equivalents (financial year 2025).

Who are the clients of Tall Guys?

Among others Picard, Epi'k, MoveOnUp, Geoconsulting, Trianon Invest.

Review: Tall Guys

Sinds 2022 is Tall Guys actief als productiehuis uit Jurbise. Het aanbod is gericht op video & productie en social media. Tot de publiek bekende klanten behoren Picard, Epi'k, MoveOnUp en Geoconsulting.

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: € 223.559 gross margin, growth +36,9% against a sector median of 0%.

At or above sector pace

MarginEBITDA / gross margin · value-added coverage

202320242025

Tall GuysSector median

EBITDA margin 55,1%, sector median 45,7%. Value-added coverage 2,25 (median 1,46).

Healthy margin

Revenue per headGross margin per FTE, against payroll cost

€ 85.984

Median (2025) € 77.875

Against a payroll cost of € 30.805 per FTE. The ratio between the two is the coverage rate above.

Above the median

Yield levelYield per hour worked, against payroll cost

€ 49

Median (2025) € 48

4.598 hours worked, 1.768 per FTE. Against that sits € 17 of payroll cost per hour worked, leaving € 31 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: 17,2 months (median 9,9 mo). Equity in the latest year: € 141.666.

Adequate buffer

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

Cash € 50.057. Liquidity ratio 2,58: current assets cover short-term debt in full. Solvency 63,8%.

Amply covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 8 days of supplier credit, sector median 58. The accounts were filed 240 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 Oct 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete
Late filing · 28 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
Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete
Late filing · 30 Sep 2025 · 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.

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

Outgrew the sector median 2 years running
EBITDA margin above the sector median (55,1%)
Profitable in every one of the last 3 years
Strong buffer: 17,2 months of payroll in equity
Team grew (+62,5% FTE in the latest year)
Value-added per euro of payroll above the sector median (2,25)
Healthy working capital (current ratio 2,58)
Equity was earned, not injected (reserves 4,0× the capital contributed)
Comfortable cash position: 228 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.

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

	2023	2024	2025
Result
Gross margin	€ 50.021	€ 163.267+226,4%	€ 223.559+36,9%
EBITDA	€ 30.391	€ 95.501	€ 123.106
EBITDA margin	60,8%	58,5%	55,1%
Staff
FTE	-	1,6	2,6+62,5%
Gross margin per FTE	-	€ 102.042	€ 85.984
Payroll cost per FTE	-	€ 29.909	€ 30.805
Balance sheet
Equity	€ 14.457	€ 71.458	€ 141.666
Cash	€ 12.166	€ 26.157	€ 50.057
Liquidity ratio	0,67	1,46	2,58

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 28/08/2026. 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 19 services

Advertising & Campaigns

Campaign concepts & big ideas Campaign execution

Content & Production

Content strategy & editorial

Media

Digital & programmatic buying Media strategy & planning Offline buying (TV, radio, print, OOH) Search advertising (SEA)

Social, Influencer & Community

Organic social content Social strategy & platform mix

Digital Experience & Tech

Mobile apps & PWAs SEO & GEO Website development Website strategy & UX

Employer Brand & Internal

Employer brand strategy Internal communication Recruitment campaigns

Events, Sponsoring & Activation

Brand activation (incl. guerrilla) Events & experiences Sponsorship & partnerships

Sector focus

Food & beverageB2B services

Publicly known clients

PicardEpi'kMoveOnUpGeoconsultingTrianon Invest

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

1

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

€ 30.805

-44% versus the median

Team composition

2,6 FTE

64% women
36% men

€ 30.805

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.

2

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

38,5%

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

Inflow 2025

69,2%

1,8 FTE in, 1,0 FTE out

Net team change

+0,8 FTE

20242025

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.