What is Wepika specialised in?

Paid social, Search advertising (SEA), Website development.

Around 9 full-time equivalents (financial year 2024).

Review: Wepika

Wepika is een digitaal bureau (web & platform) met thuisbasis in Waterloo. Er werken ongeveer 9 mensen, uitgedrukt in voltijdse equivalenten. Het bureau is toegespitst op webdevelopment en paid media (sea/social/display). Het zwaartepunt ligt bij opdrachtgevers uit e-commerce/online retail en waals/franstalig b2b. Uit de publiek bekende klantenlijst: Only Tanks.

Awards

1× Feweb Excellence Awards

1× WebAward.be

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

20202021202220232024

Latest year: € 485.563 gross margin, growth -18,1% against a sector median of +0,6%.

Shrinking

MarginEBITDA / gross margin · value-added coverage

20202021202220232024

WepikaSector median

EBITDA margin -5,9%, sector median 20,7%. Value-added coverage 0,94 (median 1,18).

Loss-making

Revenue per headGross margin per FTE, against payroll cost

€ 56.461

Median (2024) € 74.646

Against a payroll cost of € 54.863 per FTE. The ratio between the two is the coverage rate above.

Below the median

Yield levelYield per hour worked, against payroll cost

€ 33

Median (2024) € 46

14.662 hours worked, 1.705 per FTE. Against that sits € 32 of payroll cost per hour worked, leaving € 1 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: 0,2 months (median 4,9 mo). Equity in the latest year: € 6.121.

Critical buffer

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

Cash € 34.687. Liquidity ratio 0,98: current assets cover short-term debt not in full. Solvency 5%.

Tightly covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 5 days of supplier credit, sector median 47. The accounts were filed 212 days after closing; the legal deadline is seven months.

Pays and files on time

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 Nov 2026 · Google Autocomplete
Board change · 7 Nov 2024 · 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.

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

Turnover below the median (11,6%)

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, 2020 to 2024Result, staff and balance sheet

	2020	2021	2022	2023	2024
Result
Gross margin	€ 395.037	€ 444.150+12,4%	€ 535.730+20,6%	€ 592.871+10,7%	€ 485.563-18,1%
EBITDA	€ 25.529	€ 25.384	€ 26.774	€ 22.021	€ -28.744
EBITDA margin	6,5%	5,7%	5%	3,7%	-5,9%
Staff
FTE	8,8	9,3+5,7%	10,1+8,6%	10,3+2%	8,6-16,5%
Gross margin per FTE	€ 44.891	€ 47.758	€ 53.043	€ 57.560	€ 56.461
Payroll cost per FTE	€ 41.807	€ 44.822	€ 50.318	€ 54.667	€ 54.863
Balance sheet
Equity	€ 20.970	€ 33.674	€ 44.331	€ 44.520	€ 6.121
Cash	€ 31.097	€ 6.472	€ 3.664	€ 14.681	€ 34.687
Liquidity ratio	1,16	1,33	1,35	1,30	0,98

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 2024, filed on 30/04/2025. 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 2024: the last year for which nearly all accounts have been filed.

What the agency actually does 3 services

Media

Paid social Search advertising (SEA)

Digital Experience & Tech

Website development

Sector focus

E-commerce/online retailWaals/Franstalig B2B

From our own research. The agency hasn't listed its sectors yet.

Publicly known clients

Only Tanks

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

€ 54.863

-9% versus the median

Team composition

8,6 FTE

€ 54.863

Median Digitaal bureau (web & platform) (2024) € 59.996All agencies (2024) € 59.021

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

11,6%

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

Inflow 2024

/

20202021202220232024

Source: annual accounts and social reports (NBB), collected by IKAg. Financial year 2024. 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.

Award-winning work 2 award(s)

2019

Feweb Excellence Awards WinnerWebshop - Best in B2B · “AGC-webshop.com” · source ↗
WebAward.be WinnerWebshop - Best in B2B · “AGC-webshop.com” · source ↗

As published by the organising award shows, collected by IKAg.