What is Woogie Studio specialised in?

Campaign concepts & big ideas, Campaign execution, Video production.

How big is Woogie Studio?

Around 6 full-time equivalents (financial year 2024).

Review: Woogie Studio

Q: Who are the clients of Woogie Studio?

Among others Solidaris, Toyota Motor Europe, UNESCO, Cecoforma, THE SKATEROOM, Ombuds Brussels, Le Barreau de Bruxelles, BRAT, Otra Vista, Uhoda, Drink a Flower, L’Alliance Française Bruxelles-Europe, JÄRN, OSMOSE, Rise for Climate Belgium.

Woogie Studio bestaat sinds 2008 en profileert zich als creatief bureau uit Brussel. Op de loonlijst staan ongeveer 6 voltijdse equivalenten. De opgegeven expertise is creatie & reclame en video & productie. Sectoren waar het bureau vaak werkt: events, cultuur en brede merken (creatieve campagnes).

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

2021202220232024

Latest year: € 580.139 gross margin, growth - against a sector median of -0,2%.

Not enough history

MarginEBITDA / gross margin · value-added coverage

2021202220232024

Woogie StudioSector median

EBITDA margin 45,6%, sector median 22,5%. Value-added coverage 1,82 (median 1,20).

Healthy margin

Revenue per headGross margin per FTE, against payroll cost

€ 100.024

Median (2025) € 78.663

Against a payroll cost of € 51.896 per FTE. The ratio between the two is the coverage rate above.

Above the median

Yield levelYield per hour worked, against payroll cost

€ 62

Median (2025) € 49

9.405 hours worked, 1.650 per FTE. Against that sits € 31 of payroll cost per hour worked, leaving € 30 for premises, equipment, depreciation and profit.

Above 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: 4,5 months (median 7,1 mo). Equity in the latest year: € 122.884.

Adequate buffer

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

Cash € 115.104. Liquidity ratio 2,17: current assets cover short-term debt in full. Solvency 16,1%.

Amply covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 24 days of supplier credit, sector median 85. The accounts were filed 197 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

2 red flag(s) (24m)

Signals in the last 24 months

Zichtbaarheid verschoven · 1 Nov 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Oct 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Oct 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete
+ 4 older signals within 24m

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

EBITDA margin above the sector median (45,6%)
Team grew (+11,5% FTE in the latest year)
Value-added per euro of payroll above the sector median (1,82)
Healthy working capital (current ratio 2,17)
Comfortable cash position: 142 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.

4 financial years, 2021 to 2024Result, staff and balance sheet

	2021	2022	2023	2024
Result
Gross margin	€ 157.661	€ 270.132+71,3%	€ -187.154-169,3%	€ 580.139
EBITDA	€ 58.804	€ 73.212	€ -485.242	€ 264.541
EBITDA margin	37,3%	27,1%	-	45,6%
Staff
FTE	6,6	6,3-4,5%	5,2-17,5%	5,8+11,5%
Gross margin per FTE	€ 23.888	€ 42.878	€ -35.991	€ 100.024
Payroll cost per FTE	€ 43.777	€ 48.954	€ 57.741	€ 51.896
Balance sheet
Equity	€ 449.134	€ 445.142	€ -87.964	€ 122.884
Cash	€ 30.904	€ 49.534	€ 14.006	€ 115.104
Liquidity ratio	1,60	1,71	1,29	2,17

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 23/07/2026. 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 3 services

Advertising & Campaigns

Campaign concepts & big ideas Campaign execution

Content & Production

Video production

Sector focus

Public sector & governmentHealth & pharmaAutomotive & mobilityFood & beverageEducation

Publicly known clients

Solidaris, Toyota Motor Europe, UNESCO, Cecoforma, THE SKATEROOM, Ombuds Brussels, Le Barreau de Bruxelles, BRAT, Otra Vista, Uhoda, Drink a Flower, L’Alliance Française Bruxelles-Europe, JÄRN, OSMOSE, Rise for Climate Belgium

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

€ 52.243

-19% versus the median

Team composition

5,8 FTE

83% women
17% men

€ 52.243

Median Creatief bureau (2025) € 64.418All 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.

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

35,1%

Median for this type of agency (2025): 34,5%

Inflow 2024

52,6%

3,0 FTE in, 2,0 FTE out

Net team change

+1,0 FTE

20212022202320242025

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

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.