How big is The Craft?

Around 1 full-time equivalent (financial year 2025).

Review: The Craft

Q: Who are the clients of The Craft?

Among others Elisa Lee, MSK Gent, Te Herbestemmen, Slots decoration, Jules Destrooper, Ranson.

Vanuit Kortrijk werkt The Craft sinds 2016 als digitaal bureau (web & platform). Het bureau is toegespitst op webdevelopment. Het zwaartepunt ligt bij opdrachtgevers uit b2b en b2c en breed. Uit de publiek bekende klantenlijst: Elisa Lee, MSK Gent, Te Herbestemmen en Slots decoration.

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: € 62.988 gross margin, growth +94,4% against a sector median of +0,6%.

At or above sector pace

MarginEBITDA / gross margin · value-added coverage

20212022202320242025

The CraftSector median

EBITDA margin 13,3%, sector median 20,7%. Value-added coverage 1,16 (median 1,18).

Healthy margin

Revenue per headGross margin per FTE, against payroll cost

€ 78.734

Median (2024) € 74.646

Against a payroll cost of € 67.531 per FTE. The ratio between the two is the coverage rate above.

Around the median

Yield levelYield per hour worked, against payroll cost

€ 46

Median (2024) € 46

1.372 hours worked, 1.715 per FTE. Against that sits € 39 of payroll cost per hour worked, leaving € 7 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: 26,1 months (median 4,9 mo). Equity in the latest year: € 117.556.

Adequate buffer

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

Cash € 71.248. Liquidity ratio 8,84: current assets cover short-term debt in full. Solvency 89%.

Amply covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 70 days of supplier credit, sector median 47. The accounts were filed 211 days after closing; the legal deadline is seven months.

Pays slower than average

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 Sep 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete
Registered office moved · 26 Jun 2025 · Staatsblad
The registered office relocated. Usually just a new office.
Loss-making year · 31 Dec 2024 · NBB
One financial year closed at a loss. The size is not shown here: it can be a few thousand euros, a one-off settlement, or a deliberate investment. Ask the agency what was behind it.
Low value-added coverage · 31 Dec 2024 · NBB
Every euro of payroll generates less than 95 cents of added value. That happens in a build-up year, with a lot of subcontracting, or under pressure on rates. Ask what explains it here.

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: 26,1 months of payroll in equity
Healthy working capital (current ratio 8,84)
Comfortable cash position: 481 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	€ 145.934	€ 154.775+6,1%	€ 111.287-28,1%	€ 32.396-70,9%	€ 62.988+94,4%
EBITDA	€ 19.794	€ 24.248	€ 11.020	€ -9.460	€ 8.383
EBITDA margin	13,6%	15,7%	9,9%	-29,2%	13,3%
Staff
FTE	2,9	2,4-17,2%	1,8-25%	1,0-44,4%	0,8-20%
Gross margin per FTE	€ 50.322	€ 64.490	€ 61.826	€ 32.396	€ 78.734
Payroll cost per FTE	€ 43.351	€ 54.195	€ 55.455	€ 39.346	€ 67.531
Balance sheet
Equity	€ 125.165	€ 130.521	€ 131.841	€ 115.308	€ 117.556
Cash	€ 43.000	€ 22.620	€ 40.942	€ 59.004	€ 71.248
Liquidity ratio	2,06	2,12	6,93	7,99	8,84

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 21 Sep 2026. Sector medians based on financial year 2024: the last year for which nearly all accounts have been filed.

What the agency actually does 1 services

Digital Experience & Tech

Website development

Sector focus

Fashion & lifestyleMedia & entertainmentReal estate & constructionFood & beverageRetail & e-commerce

Publicly known clients

Elisa LeeMSK GentTe HerbestemmenSlots decorationJules DestrooperRanson

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

€ 67.531

+13% versus the median

Team composition

0,8 FTE

€ 67.531

Median Digitaal bureau (web & platform) (2024) € 59.996All agencies (2024) € 59.045

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 2024

80,0%

Median for this type of agency (2024): 29,3%

Inflow 2024

/

20212022202320242025

Figures for financial year 2024: in 2025 this agency published no inflow or outflow.

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 2024: the last year for which nearly all accounts have been filed.