Review: Blue2purple

Blue2purple is een performance- & mediabureau met thuisbasis in Watermaal-Bosvoorde. Het team telt ongeveer 4 medewerkers (VTE). Het bureau is toegespitst op paid media (sea/social/display) en seo. De ervaring zit vooral in grote merken/corporates (retail, banking, verzekeringen en luchtvaart. Publiek gekende klanten zijn onder meer Delhaize, BNP Paribas Fortis, Generali en Europ Assistance.

ContinuityWatch

SenioritySenior profile€ 77.939 per FTE, € 6.495 a month · median € 59.890

juniorsenior

GrowthShrinking-23,6% gross margin versus the previous year · median 20,3%

shrinkinggrowth

ProfitabilityAmple margin49,0% of gross margin remains as EBITDA · median 28,1%

thinample

Partnerships

Google Ads Premier Partner

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: € 542.618 gross margin, growth -23,6% against a sector median of +20,3%.

Shrinking

MarginEBITDA / gross margin · value-added coverage

2021202220232024

Blue2purpleSector median

EBITDA margin 49%, sector median 28,1%. Value-added coverage 1,81 (median 1,28).

Healthy margin

Revenue per headGross margin per FTE, against payroll cost

€ 129.195

Median (2024) € 77.782

Against a payroll cost of € 77.939 per FTE. The ratio between the two is the coverage rate above.

Above the median

Yield levelYield per hour worked, against payroll cost

€ 83

Median (2024) € 48

6.509 hours worked, 1.550 per FTE. Against that sits € 50 of payroll cost per hour worked, leaving € 33 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: 12,0 months (median 5,0 mo). Equity in the latest year: € 326.704.

Adequate buffer

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

Cash € 1,10 mln. Liquidity ratio 1,18: current assets cover short-term debt in full. Solvency 16,1%.

Tightly covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 513 days of supplier credit, sector median 35. The accounts were filed 273 days after closing; the legal deadline is seven months.

Filed late

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

Warnings active

Signals in the last 24 months

Late filing · 30 Sep 2025 · NBB
The annual accounts were filed after the statutory deadline. Over a third of the sector does this; rarely alarming in itself.
Sharp drop in equity · 31 Dec 2024 · NBB
The financial reserve shrank by more than 30% over two financial years. Watch whether the trend continues.
Sharp headcount decline · 31 Dec 2024 · NBB
Average headcount fell by 15% or more in a year. Often felt in the seniority on your account.

Click a signal for a plain-language explanation.

What this agency does well

EBITDA margin above the sector median (49,0%)
Profitable in every one of the last 4 years
Strong buffer: 12,0 months of payroll in equity
Value-added per euro of payroll above the sector median (1,81)
Margin per hour worked rose 2 years in a row
Equity was earned, not injected (reserves 2,3× the capital contributed)
Comfortable cash position: 1231 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	€ 845.000	€ 1,09 mln+29,1%	€ 710.641-34,8%	€ 542.618-23,6%
EBITDA	€ 47.000	€ 148.182	€ 203.890	€ 265.822
EBITDA margin	5,6%	13,6%	28,7%	49%
Staff
FTE	13,1	14,6+11,5%	6,5-55,5%	4,2-35,4%
Gross margin per FTE	€ 64.504	€ 74.704	€ 109.329	€ 129.195
Payroll cost per FTE	€ 62.366	€ 65.948	€ 77.532	€ 77.939
Balance sheet
Equity	€ 482.000	€ 532.155	€ 379.438	€ 326.704
Cash	-	€ 1,63 mln	€ 1,83 mln	€ 1,10 mln
Liquidity ratio	-	1,12	1,16	1,18

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 30/09/2025. 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 27 Jul 2026. Sector medians based on financial year 2024: the last year for which nearly all accounts have been filed.

What the agency actually does 20 services

Strategy & Insights

Brand strategy & positioning

Branding & Design

Brand identity & design

Advertising & Campaigns

Campaign concepts & big ideas Campaign execution Performance creative & DCO

Content & Production

Content strategy & editorial

Media

Digital & programmatic buying Media strategy & planning Offline buying (TV, radio, print, OOH) Search advertising (SEA)

Social, Influencer & Community

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

Digital Experience & Tech

E-commerce (incl. payment) SEO & GEO

Data, Measurement & Governance

Dashboards & reporting Data science & analytics (incl. predictive modelling)

PR & Reputation

PR strategy & media relations

Employer Brand & Internal

Employer brand strategy Recruitment campaigns

Sector focus

Grote merken/corporates (retailbankingverzekeringenluchtvaartFMCGpharma)

Publicly known clients

DelhaizeBNP Paribas FortisGeneraliEurop AssistanceBrussels AirlinesL'OrealAbbVie

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

1

People 1 people mapped

NT

Nathalie Terwingen

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

€ 77.939

+30% versus the median

Team composition

4,2 VTE

67% women
33% men

€ 77.939

Median Performance- & mediabureau (2024) € 59.890All agencies (2024) € 59.129

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 2024

71,4%

Median for this type of agency (2024): 42,5%

Inflow 2024

23,8%

1,0 FTE in, 3,0 FTE out

Net team change

-2,0 VTE

2021202220232024

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 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.

Official partnerships 1 badge(s)

Google Ads: Premier Partner1 of 68 Belgian partners in the IKAg database.

As published in the platforms' official partner directories, collected by IKAg.