The Oval Office
The content of this factsheet is in Dutch.
The Oval Office is een creatief bureau met thuisbasis in Antwerpen, opgericht in 2001. Het team telt ongeveer 27 medewerkers (VTE). Het bureau combineert creatie & reclame, events en employer branding. Sectoren waar het bureau vaak werkt: corporate/b2b, retail/consumer brands, overheid (citizen experience) en tech.
2× BEA Awards
1× IAB MIXX AwardsHow this agency makes money
Revenue, margin and what an hour of work brings in. Everything on the earning side sits together here.
Can the agency take a hit
Buffer, cash position and payment behaviour side by side, so you can see where they disagree.
Signals and strengths
Events from the CBE and the Official Gazette over the past 24 months, plus positive markers derived from the figures.
Continuity
1 red flag(s) (24m)- Zichtbaarheid verschoven · 1 Nov 2026 · Google Autocomplete
- Low value-added coverage · 31 Dec 2025 · NBBEvery 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.
- Sharp drop in equity · 31 Dec 2025 · NBBThe 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.
- Critical buffer · 31 Dec 2025 · NBBEquity covers less than one month of payroll. At an agency that pays out its profit every year this means something different than at one that is losing money. Ask where the reserve sits.
- Loss-making year · 31 Dec 2025 · NBBOne 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.
- Thin buffer · 31 Dec 2024 · NBBEquity covers less than three months of payroll. A limited reserve, and at many smaller agencies the normal state of affairs. Ask how the agency absorbs a setback.
What this agency does well
- Comfortable cash position: 95 days of payroll
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 | € 972.712 | € 4,15 mln+326,5% | € 1,47 mln-64,5% | € 2,23 mln+51,7% | € 1,77 mln-20,6% |
| EBITDA | € 348.669 | € 1,23 mln | € -721.709 | € 34.308 | € -310.272 |
| EBITDA margin | 35,8% | 29,7% | -49% | 1,5% | -17,5% |
| Staff | |||||
| FTE | 27,9 | 36,3+30,1% | 34,2-5,8% | 30,4-11,1% | 26,7-12,2% |
| Gross margin per FTE | € 34.864 | € 114.292 | € 43.063 | € 73.469 | € 66.434 |
| Payroll cost per FTE | € 55.696 | € 63.851 | € 73.788 | € 77.951 | € 80.012 |
| Balance sheet | |||||
| Equity | € 1,04 mln | € 1,25 mln | € 530.522 | € 551.982 | € 6.094 |
| Cash | € 2,07 mln | € 1,46 mln | € 1,70 mln | € 323.708 | € 553.297 |
| Liquidity ratio | 2,39 | 1,56 | 1,56 | 1,35 | 1,10 |
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 20/07/2026. 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 34 services
Sector focus
Publicly known clients
Google, Deloitte, BMW, Henkel, Decathlon, TikTok, YouTube, Mercedes-Benz, Royal Vopak, Canon, Proximus, Nintendo, National Geographic, B&B Hotels, French Ministry of Culture
Based on IKAg research and public sources. Incomplete or outdated? Let us know.
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.
- 68% women
- 32% men
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.
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.
Award-winning work 3 award(s)
- IAB MIXX Awards BronzeDirect Response · “UHasselt” · source ↗
- BEA Awards GoldInstitutional Events · “Offshore Wind Energy Experience (Belgian Offshore Platform)” · source ↗
- BEA Awards SilverB2B Events · “KMO/PME #TOUS ENSEMBLE #PROXYNIGHT” · source ↗
As published by the organising award shows, collected by IKAg.
Frequently asked questions about The Oval Office
- When was The Oval Office founded?
- In 2001.
- Where is The Oval Office located?
- In Antwerpen, Belgium.
- What is The Oval Office specialised in?
- AI & innovation strategy, Brand strategy & positioning, Customer & audience strategy, Brand identity & design, Packaging design, Product & service design.
- How big is The Oval Office?
- Around 27 full-time equivalents (financial year 2025).
- Which sectors does The Oval Office work for?
- Public sector & non-profit, Retail & e-commerce, Technology & software.
- Who are the clients of The Oval Office?
- Among others Google, Deloitte, BMW, Henkel, Decathlon, TikTok, YouTube, Mercedes-Benz, Royal Vopak, Canon, Proximus, Nintendo, National Geographic, B&B Hotels, French Ministry of Culture.
Figures from the annual accounts up to financial year 2025. Company details checked against the CBE register on 2026-10-13.