What is Shake Up specialised in?

Content strategy & editorial, Copywriting & long-form content, Paid social, Search advertising (SEA).

Around 0 full-time equivalents (financial year 2025).

Review: Shake Up

Vanuit Erpe werkt Shake Up sinds 2020 als performance- & mediabureau. Er werken ongeveer 2 mensen, uitgedrukt in voltijdse equivalenten. Het aanbod is gericht op paid media (sea/social/display) en content & copy. Sectoren waar het bureau vaak werkt: brede mix kmo.

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

20212022202320242025

Latest year: € 103.972 gross margin, growth -24,8% against a sector median of +5,3%.

Shrinking

MarginEBITDA / gross margin · value-added coverage

20212022202320242025

Shake UpSector median

EBITDA margin 76,8%, sector median 28%. Value-added coverage 6,90 (median 1,23).

Healthy margin

Revenue per headGross margin per FTE, against payroll cost

€ 519.859

Median (2025) € 76.236

Against a payroll cost of € 45.880 per FTE. The ratio between the two is the coverage rate above.

Above the median

Yield levelYield per hour worked, against payroll cost

€ 371

Median (2025) € 47

280 hours worked, 1.400 per FTE. Against that sits € 33 of payroll cost per hour worked, leaving € 339 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: 113,7 months (median 6,3 mo). Equity in the latest year: € 128.207.

Adequate buffer

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

Cash € 92.336. Liquidity ratio 2,03: current assets cover short-term debt in full. Solvency 35,9%.

Amply covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 314 days of supplier credit, sector median 63. The accounts were filed 227 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

Points to ask about

Signals in the last 24 months

Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete
Late filing · 15 Aug 2026 · NBB
The annual accounts were filed after the statutory deadline. Over a third of the sector does this, usually because of the accountant's calendar. Rarely a story in itself.
Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete
Board change · 14 Jan 2026 · 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.
+ 1 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 (76,8%)
Profitable in every one of the last 5 years
Strong buffer: 113,7 months of payroll in equity
Value-added per euro of payroll above the sector median (6,90)
Margin per hour worked rose 4 years in a row
Healthy working capital (current ratio 2,03)
Comfortable cash position: 3673 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.

5 financial years, 2021 to 2025Result, staff and balance sheet

	2021	2022	2023	2024	2025
Result
Gross margin	€ 159.649	€ 217.272+36,1%	€ 295.264+35,9%	€ 138.309-53,2%	€ 103.972-24,8%
EBITDA	€ 28.176	€ 40.350	€ 30.346	€ 60.876	€ 79.834
EBITDA margin	17,6%	18,6%	10,3%	44%	76,8%
Staff
FTE	1,8	4,0+122,2%	5,5+37,5%	2,1-61,8%	0,2-90,5%
Gross margin per FTE	€ 88.694	€ 54.318	€ 53.684	€ 65.861	€ 519.859
Payroll cost per FTE	€ 72.571	€ 43.618	€ 48.064	€ 36.584	€ 45.880
Balance sheet
Equity	€ 5.971	€ 30.568	€ 42.292	€ 75.181	€ 128.207
Cash	€ 22.575	€ 86.301	€ 100.392	€ 75.527	€ 92.336
Liquidity ratio	1,14	1,51	1,17	1,50	2,03

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 15/08/2026. 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 4 services

Content & Production

Content strategy & editorial Copywriting & long-form content

Media

Paid social Search advertising (SEA)

Sector focus

Brede mix KMO

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

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

1

People 9 people mapped

A wide leadership layer: 9 of 9 steer. Notably, no declared strategists in sight — this agency would rather make than philosophise.

AV

Andy Vlaeminck

Business Unit Manager & trainer/coach

GJ

Greet Jacobs

Founder & Business Unit Manager

JD

Jens De Beule

Business Unit Manager

KB

Kim Bulté

Business Unit Manager

KB

Korneel Bucsan

Business Unit Manager

SV

Stig Van Hauwermeiren

Managing Director

VD

Vincent De Geyndt

Business Unit Manager

WH

Wim Hofmans

Managing Director

ZV

Zahra Vanwijnsberghe

Business Unit Manager

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

€ 45.880

-27% versus the median

Team composition

0,2 FTE

€ 45.880

Median Performance- & mediabureau (2025) € 62.495All 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.

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 2025

0,0%

Median for this type of agency (2025): 25,1%

Inflow 2025

0,0%

0,0 FTE in, 0,0 FTE out

Net team change

0,0 FTE

20212022202320242025

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.