What is Veaudeville specialised in?

Brand strategy & positioning, Marketing strategy, Brand identity & design, Campaign concepts & big ideas, Campaign execution, Video production.

How big is Veaudeville?

Around 6 full-time equivalents (financial year 2026).

Review: Veaudeville

Q: Who are the clients of Veaudeville?

Among others Stad Brussel, Meubelbeurs Brussel, Club Brugge, Judo Belgium, RSC Anderlecht.

Veaudeville werkt ruim tien jaar als productiehuis uit Gooik. Het team telt ongeveer 9 medewerkers (VTE). Het bureau combineert video & productie, creatie & reclame, strategie en branding & identiteit. Publiek gekende klanten zijn onder meer Stad Brussel, Meubelbeurs Brussel, Club Brugge en Judo Belgium.

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

20222023202420252026

Latest year: € 409.033 gross margin, growth -22,7% against a sector median of 0%.

Shrinking

MarginEBITDA / gross margin · value-added coverage

20222023202420252026

VeaudevilleSector median

EBITDA margin 21,7%, sector median 45,7%. Value-added coverage 1,28 (median 1,46).

Below sector level

Revenue per headGross margin per FTE, against payroll cost

€ 73.042

Median (2025) € 77.875

Against a payroll cost of € 56.118 per FTE. The ratio between the two is the coverage rate above.

Around the median

Yield levelYield per hour worked, against payroll cost

€ 44

Median (2025) € 48

9.327 hours worked, 1.666 per FTE. Against that sits € 34 of payroll cost per hour worked, leaving € 10 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: 8,4 months (median 9,9 mo). Equity in the latest year: € 220.039.

Adequate buffer

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

Cash € 1.324. Liquidity ratio 1,29: current assets cover short-term debt in full. Solvency 41,7%.

Amply covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 82 days of supplier credit, sector median 58. The accounts were filed 189 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 Oct 2026 · Google Autocomplete
Sharp headcount decline · 31 Mar 2026 · NBB
Average headcount fell by 15% or more in a year. That can be contraction, and just as easily a deliberate choice for fewer but more experienced people. Ask who left and who came in their place.
Board change · 2 Jun 2025 · Staatsblad
Appointments or resignations on the board. Routine during growth, succession or a new partner. Ask about it when several changes follow each other closely.
Loss-making year · 31 Mar 2025 · 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.

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: 8,4 months of payroll in equity
Healthy working capital (current ratio 1,29)

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, 2022 to 2026Result, staff and balance sheet

	2022	2023	2024	2025	2026
Result
Gross margin	€ 76.879	€ 379.343+393,4%	€ 572.463+50,9%	€ 529.301-7,5%	€ 409.033-22,7%
EBITDA	€ 37.735	€ 74.336	€ 120.369	€ 54.263	€ 88.840
EBITDA margin	49,1%	19,6%	21%	10,3%	21,7%
Staff
FTE	-	5,3	8,6+62,3%	8,7+1,2%	5,6-35,6%
Gross margin per FTE	-	€ 71.574	€ 66.566	€ 60.839	€ 73.042
Payroll cost per FTE	-	€ 56.379	€ 52.261	€ 54.263	€ 56.118
Balance sheet
Equity	€ 223.952	€ 238.307	€ 269.464	€ 216.189	€ 220.039
Cash	€ 117.894	€ 46.690	€ 34.248	€ 2.411	€ 1.324
Liquidity ratio	2,24	1,91	1,30	1,11	1,29

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 2026, filed on 06/10/2026. 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 6 services

Strategy & Insights

Brand strategy & positioning Marketing strategy

Branding & Design

Brand identity & design

Advertising & Campaigns

Campaign concepts & big ideas Campaign execution

Content & Production

Video production

Sector focus

Public sector & governmentMedia & entertainment

Publicly known clients

Stad BrusselMeubelbeurs BrusselClub BruggeJudo BelgiumRSC Anderlecht

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

1

People 18 people mapped

The heart of this team is creative: 7 of 18 profiles are makers. Within that core, Design, Video and Art Direction stand out. Notably, no declared strategists in sight — this agency would rather make than philosophise.

AW

Arno Wynant

Art Director

JD

Jeroen De Vroede

Creative Director

LC

Laurens Claes

Commercial Director

TD

Tobias De Ryck

Audiovisual Director

BK

Bea K.

Financial

CA

Cies A.

Video & Post production

GS

Gill S.

Front-end Webdeveloper

HD

Hilde DB.

Happiness Manager

JK

Johan K.

Project Manager & Strategy

LM

Lissa M.

Project Manager

LD

Lukas D.

Camera

MH

Marie H.

Graphic & Brand Designer

MD

Maurice DL.

Back-end Webdeveloper

OV

Olivier VdK.

Decors & Technical Support

RD

Roger DV.

Financial

SW

Samuel W.

Digital & Motion Designer

WN

Ward N.

Creative Copywriter

YP

Yannick P.

Digital / Performance Marketing

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

€ 56.118

+2% versus the median

Team composition

5,6 FTE

25% women
75% men

€ 56.118

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 2026

62,5%

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

Inflow 2026

/

2023202420252026

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 2026. 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.