What is Vandekerckhove&Devos specialised in?

Packaging design, Campaign concepts & big ideas, Campaign execution, Influencer & creator marketing, Organic social content, Social strategy & platform mix.

How big is Vandekerckhove&Devos?

Around 7 full-time equivalents (financial year 2025).

Which sectors does Vandekerckhove&Devos work for?

Finance & insurance, Industry & manufacturing, Interior & design, Fashion & lifestyle, Technology & software.

Review: Vandekerckhove&Devos

Q: Who are the clients of Vandekerckhove&Devos?

Among others Jori, Vandemoortele, Decospan, Denys, Spaas, OMP, Magnitude, Vlaamse Sportfederatie, Renson, Barry Callebaut, Bekaert, Credimo, Buildwise, Derbigum, Bostoen.

Vandekerckhove&Devos is een pr- & communicatiebureau uit Melle, actief sinds 2009. De bezetting ligt rond 7 VTE. Ze werken rond crm & marketing automation, pr & communicatie, social media en creatie & reclame.

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

2022202320242025

Latest year: € 486.135 gross margin, growth -17,1% against a sector median of -4,9%.

Shrinking

MarginEBITDA / gross margin · value-added coverage

2022202320242025

Vandekerckhove&DevosSector median

EBITDA margin 4,2%, sector median 21,8%. Value-added coverage 1,04 (median 1,22). Value-added coverage sits in the sector-wide grey zone (0.95-1.15): context, not an alarm.

Below sector level

Revenue per headGross margin per FTE, against payroll cost

€ 73.657

Median (2024) € 74.978

Against a payroll cost of € 70.503 per FTE. The ratio between the two is the coverage rate above.

Around the median

Yield levelYield per hour worked, against payroll cost

€ 48

Median (2024) € 47

10.195 hours worked, 1.545 per FTE. Against that sits € 46 of payroll cost per hour worked, leaving € 2 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: 8,1 months (median 7,9 mo). Equity in the latest year: € 312.483.

Adequate buffer

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

Cash € 380.110. Liquidity ratio 1,72: current assets cover short-term debt in full. Solvency 44,1%.

Amply covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 239 days of supplier credit, sector median 87. The accounts were filed 212 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
Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete
Sharp drop in equity · 30 Sep 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.
Registered office moved · 12 Feb 2025 · Staatsblad
The registered office relocated. Usually just a new office.

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

Profitable in every one of the last 4 years
Strong buffer: 8,1 months of payroll in equity
Stable team (no meaningful FTE loss)
Healthy working capital (current ratio 1,72)
Equity was earned, not injected (reserves 4,1× the capital contributed)
Comfortable cash position: 298 days of payroll
Turnover below the median (27,3%)

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.

4 financial years, 2022 to 2025Result, staff and balance sheet

	2022	2023	2024	2025
Result
Gross margin	€ 450.409	€ 495.875+10,1%	€ 586.523+18,3%	€ 486.135-17,1%
EBITDA	€ 19.872	€ 27.046	€ 25.180	€ 20.285
EBITDA margin	4,4%	5,5%	4,3%	4,2%
Staff
FTE	6,4	7,7+20,3%	6,6-14,3%	6,60%
Gross margin per FTE	€ 70.376	€ 64.399	€ 88.867	€ 73.657
Payroll cost per FTE	€ 67.223	€ 60.705	€ 78.142	€ 70.503
Balance sheet
Equity	€ 470.118	€ 475.568	€ 308.595	€ 312.483
Cash	€ 68.771	€ 136.790	€ 438.113	€ 380.110
Liquidity ratio	2,45	2,05	2,06	1,72

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 30/04/2026. 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 15 services

Branding & Design

Packaging design

Advertising & Campaigns

Campaign concepts & big ideas Campaign execution

Social, Influencer & Community

Influencer & creator marketing Organic social content Social strategy & platform mix

CRM, Email & Loyalty

CRM & lifecycle strategy Direct marketing & lead management Marketing automation

PR & Reputation

Corporate communication PR strategy & media relations

Employer Brand & Internal

Internal communication

Events, Sponsoring & Activation

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

Sector focus

Real estate & constructionFood & beverageFashion & lifestyleB2B servicesFMCG

Publicly known clients

Jori, Vandemoortele, Decospan, Denys, Spaas, OMP, Magnitude, Vlaamse Sportfederatie, Renson, Barry Callebaut, Bekaert, Credimo, Buildwise, Derbigum, Bostoen

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

1

People 2 people mapped

M

Michel

N

Nicolas

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

€ 70.503

+13% versus the median

Team composition

6,6 FTE

47% women
53% men

€ 70.503

Median PR- & communicatiebureau (2024) € 62.663All 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.

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

27,3%

Median for this type of agency (2024): 36,8%

Inflow 2025

12,1%

0,8 FTE in, 1,8 FTE out

Net team change

-1,0 FTE

2022202320242025

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.