Review: Digital With You

Vanuit Mechelen werkt Digital With You als digitaal bureau (web & platform). De opgegeven expertise is webdevelopment en ux/ui design. Het zwaartepunt ligt bij opdrachtgevers uit ambitieuze merken en algemeen b2b.

ContinuityWatch

GrowthShrinking-123,0% gross margin versus the previous year · median 3,2%

shrinkinggrowth

ProfitabilityAverage margin31,5% of gross margin remains as EBITDA · median 20,7%

thinample

ResilienceStrong balance sheet71% of the balance sheet is equity · median 33%

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Per-head and per-hour figures say too little here: too few people are on the payroll. This factsheet therefore shows growth, profitability and balance sheet.

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

202220232024

Latest year: € 96.712 gross margin, growth +25,4% against a sector median of +3,2%.

At or above sector pace

MarginEBITDA / gross margin · value-added coverage

202220232024

Digital With YouSector median

EBITDA margin 31,5%, sector median 20,7%. Value-added coverage 1,47 (median 1,17).

Healthy margin

Revenue per headGross margin per FTE, against payroll cost

€ 96.712

Median (2024) € 72.903

Against a payroll cost of € 64.982 per FTE. The ratio between the two is the coverage rate above.

Above the median

Yield levelYield per hour worked, against payroll cost

€ 56

Median (2024) € 45

1.712 hours worked, 1.712 per FTE. Against that sits € 38 of payroll cost per hour worked, leaving € 19 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: 13,5 months (median 6,0 mo). Equity in the latest year: € 73.259.

Adequate buffer

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

Cash € 125.934. Liquidity ratio 1,53: current assets cover short-term debt in full. Solvency 35,5%.

Amply covered

Payment behaviourTowards suppliers and towards the NBB

The accounts were filed 239 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 · 20 Feb 2026 · NBB
The annual accounts were filed after the statutory deadline. Over a third of the sector does this; rarely alarming in itself.
Low value-added coverage · 30 Jun 2025 · NBB
Every euro of payroll generates less than 95 cents of added value. The team is not fully earning itself back.
Loss-making year · 30 Jun 2025 · NBB
A financial year closed at a loss. On its own that need not be alarming (investments, a lost client); watch for repetition.
Sharp drop in equity · 30 Jun 2025 · NBB
The financial reserve shrank by more than 30% over two financial years. Watch whether the trend continues.
Late filing · 24 Feb 2025 · NBB
The annual accounts were filed after the statutory deadline. Over a third of the sector does this; rarely alarming in itself.

Click a signal for a plain-language explanation.

What this agency does well

EBITDA margin above the sector median (31,5%)
Profitable in every one of the last 3 years
Strong buffer: 13,5 months of payroll in equity
Stable team (no meaningful FTE loss)
Value-added per euro of payroll above the sector median (1,47)
Healthy working capital (current ratio 1,53)
Comfortable cash position: 707 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.

3 financial years, 2022 to 2024Result, staff and balance sheet

	2022	2023	2024
Result
Gross margin	€ 80.000	€ 77.151-3,6%	€ 96.712+25,4%
EBITDA	€ 15.000	€ 10.155	€ 30.487
EBITDA margin	18,8%	13,2%	31,5%
Staff
FTE	1,0	1,00%	1,00%
Gross margin per FTE	€ 80.000	€ 77.151	€ 96.712
Payroll cost per FTE	€ 59.000	€ 65.270	€ 64.982
Balance sheet
Equity	€ 84.000	€ 86.063	€ 73.259
Cash	-	€ 141.416	€ 125.934
Liquidity ratio	-	2,03	1,53

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 20/02/2026. 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 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 2 services

Digital Experience & Tech

Website development Website strategy & UX

Sector focus

Ambitieuze merkenalgemeen B2B

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

€ 91.981

+55% versus the median

Team composition

0,1 VTE

€ 91.981

Median Digitaal bureau (web & platform) (2024) € 59.202All 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.

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.