What is Playar specialised in?

Video production, Website strategy & UX.

Around 10 full-time equivalents (financial year 2025).

Which sectors does Playar work for?

Fashion & lifestyle, Retail & e-commerce, Technology & software, Food & beverage.

Review: Playar

Q: Who are the clients of Playar?

Among others Fanta, 2K Games, ATP Tour, Dior, Netflix, Cartier, Premier League, Chanel, Burberry, Feyenoord, LEGO, Basic-Fit, Zespri, Disney, Samsung.

Playar, opgericht in 2021, is een full-service bureau uit Antwerpen. Het team telt ongeveer 10 medewerkers (VTE). De dienstverlening draait om ux/ui design en video & productie.

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

2022202320242025

Latest year: € 855.824 gross margin, growth +53,2% against a sector median of +1,7%.

At or above sector pace

MarginEBITDA / gross margin · value-added coverage

2022202320242025

PlayarSector median

EBITDA margin 27,3%, sector median 23,9%. Value-added coverage 1,38 (median 1,27).

Healthy margin

Revenue per headGross margin per FTE, against payroll cost

€ 86.447

Median (2025) € 78.251

Against a payroll cost of € 62.484 per FTE. The ratio between the two is the coverage rate above.

Above the median

Yield levelYield per hour worked, against payroll cost

€ 50

Median (2025) € 49

17.135 hours worked, 1.731 per FTE. Against that sits € 36 of payroll cost per hour worked, leaving € 14 for premises, equipment, depreciation and profit.

Around 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: 1,9 months (median 5,8 mo). Equity in the latest year: € 95.784.

Thin buffer

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

Cash € 268.112. Liquidity ratio 1,16: current assets cover short-term debt in full. Solvency 20,3%.

Tightly covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 21 days of supplier credit, sector median 54. The accounts were filed 61 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

Points to ask about

Signals in the last 24 months

Zichtbaarheid verschoven · 1 Nov 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Oct 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete
Thin buffer · 31 Dec 2025 · NBB
Equity covers less than three months of payroll. A limited reserve, and at many smaller agencies the normal state of affairs. Ask how the agency absorbs a setback.
Sharp drop in equity · 31 Dec 2025 · NBB
The financial reserve shrank by more than 30% over two financial years. A dividend, buying out a partner and a loss-making year all look the same here. Ask which of the three it was.

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 (27,3%)
Profitable in every one of the last 4 years
Team grew (+8,8% FTE in the latest year)
Value-added per euro of payroll above the sector median (1,38)
Equity was earned, not injected (reserves 30,9× the capital contributed)
Comfortable cash position: 158 days of payroll
No departures in 2025

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, 2022 to 2025Result, staff and balance sheet

	2022	2023	2024	2025
Result
Gross margin	€ 930.862	€ 567.938-39%	€ 558.577-1,6%	€ 855.824+53,2%
EBITDA	€ 649.583	€ 225.968	€ 35.610	€ 233.218
EBITDA margin	69,8%	39,8%	6,4%	27,3%
Staff
FTE	4,0	7,3+82,5%	9,1+24,7%	9,9+8,8%
Gross margin per FTE	€ 232.716	€ 77.800	€ 61.382	€ 86.447
Payroll cost per FTE	€ 69.735	€ 46.473	€ 56.728	€ 62.484
Balance sheet
Equity	€ 116.329	€ 203.064	€ 107.719	€ 95.784
Cash	€ 566.796	€ 445.611	€ 194.308	€ 268.112
Liquidity ratio	1,14	1,33	1,35	1,16

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 02/03/2026. 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 2 services

Content & Production

Video production

Digital Experience & Tech

Website strategy & UX

Sector focus

FMCGMedia & entertainmentFashion & lifestyleTechnology & softwareRetail & e-commerce

Publicly known clients

Fanta, 2K Games, ATP Tour, Dior, Netflix, Cartier, Premier League, Chanel, Burberry, Feyenoord, LEGO, Basic-Fit, Zespri, Disney, Samsung

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

€ 62.484

+4% versus the median

Team composition

9,9 FTE

20% women
80% men

Training per FTE

0,0 h

Many agencies fill this field in incompletely.

€ 62.484

Median Full-service bureau (2025) € 60.368All 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 2025

0,0%

Median for this type of agency (2025): 31,1%

Inflow 2025

0,0%

0,0 FTE in, 0,0 FTE out

Net team change

0,0 FTE

2022202320242025

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.