What is Studio Engarde specialised in?

Brand strategy & positioning, Marketing strategy, Brand identity & design, Campaign concepts & big ideas, Campaign execution, Website strategy & UX.

How big is Studio Engarde?

Around 2 full-time equivalents (financial year 2025).

Which sectors does Studio Engarde work for?

Construction & real estate, Finance & insurance, Industry & manufacturing, Public sector & non-profit, Food & beverage.

Review: Studio Engarde: creatief bureau

Q: Who are the clients of Studio Engarde?

Among others Steenoven, Vita+, EasyPost, Alheembouw, Puratos, Zorgnet-Icuro, EURid, Pasar.

Studio Engarde bestaat sinds 2016 en profileert zich als brandingbureau uit Gent. De focus ligt op strategie, branding & identiteit, ux/ui design en creatie & reclame. De klanten komen vooral uit bouw, food/industrie, overheid/steden en financiele sector.

Studio Engarde is partner voor merkcreatie én merkcommunicatie. Ze denken mee over positionering, ontwerpen een visuele identiteit en zorgen voor campagnes die echt werken. Zonder gezever, met focus op lange termijn en in een gemoedelijke sfeer.
Kernactiviteiten:

Merk strategie
Campagnes
Brand design

Soort klanten en gemiddelde klantgrootte:
Klanten variëren van grotere KMO's tot internationale groepen als Puratos. De voornaamste klanten zitten in de voeding, bouw en socio-culturele sector.
Team
Het bureau werkt met volgend team:
1 creative director
2 brand designers
3 project managers / marketeers
Zelf omschreven cultuur:

recht-door-zee, kritisch, sympathiek, nuchter, bereikbaar, open, doelgericht.

Referentieklanten: Steenoven, Vita+, EasyPost, Alheembouw, Puratos, Zorgnet-Icuro, EURid, Pasar, Aveve
Tech stack: Drupal, Craft
Gepercipieerde concurrenten: Toech, Miss Blush, Chilli, Eps en kaas
Inspiratie: Ragged Edge, Saffron Consultants, Losiento, Kpot Agency, Studio Dumbar, Hurae
Ondernemingsnummer: BE0653.988.846
Gemiddelde klantgrootte: 35k

Who do they see as competitors?

Chilli Toech

As indicated by the agency itself.

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: € 167.433 gross margin, growth +48% against a sector median of +6,6%.

At or above sector pace

MarginEBITDA / gross margin · value-added coverage

20212022202320242025

Studio EngardeSector median

EBITDA margin 32,1%, sector median 32,2%. Value-added coverage 1,47 (median 1,29).

Healthy margin

Revenue per headGross margin per FTE, against payroll cost

€ 88.122

Median (2025) € 82.809

Against a payroll cost of € 59.546 per FTE. The ratio between the two is the coverage rate above.

Around the median

Yield levelYield per hour worked, against payroll cost

€ 52

Median (2025) € 48

3.216 hours worked, 1.693 per FTE. Against that sits € 35 of payroll cost per hour worked, leaving € 17 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: 2,5 months (median 6,3 mo). Equity in the latest year: € 23.875.

Thin buffer

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

Cash € 121.310. Liquidity ratio 1,06: current assets cover short-term debt in full. Solvency 9,3%.

Tightly covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 224 days of supplier credit, sector median 68. The accounts were filed 68 days after closing; the legal deadline is seven months.

Pays slower than average

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

No serious signals

Signals in the last 24 months

Zichtbaarheid verschoven · 1 Nov 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Oct 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete
Zichtbaarheid verschoven · 1 Aug 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.

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

Profitable in every one of the last 5 years
Stable team (no meaningful FTE loss)
Value-added per euro of payroll above the sector median (1,47)
Comfortable cash position: 391 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.

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

	2021	2022	2023	2024	2025
Result
Gross margin	€ 136.240	€ 186.145+36,6%	€ 140.227-24,7%	€ 113.132-19,3%	€ 167.433+48%
EBITDA	€ 51.504	€ 64.871	€ 19.460	€ 8.832	€ 53.665
EBITDA margin	37,8%	34,8%	13,9%	7,8%	32,1%
Staff
FTE	2,1	2,9+38,1%	2,3-20,7%	1,9-17,4%	1,90%
Gross margin per FTE	€ 64.876	€ 64.188	€ 60.968	€ 59.543	€ 88.122
Payroll cost per FTE	€ 39.365	€ 41.344	€ 51.904	€ 54.572	€ 59.546
Balance sheet
Equity	€ 54.412	€ 35.309	€ 23.560	€ 23.803	€ 23.875
Cash	€ 67.679	€ 93.207	€ 116.089	€ 49.250	€ 121.310
Liquidity ratio	1,10	1,06	1,04	1,08	1,06

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 09/03/2026. 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 6 services

Strategy & Insights

Brand strategy & positioning Marketing strategy

Branding & Design

Brand identity & design

Advertising & Campaigns

Campaign concepts & big ideas Campaign execution

Digital Experience & Tech

Website strategy & UX

Sector focus

Food & beverageEducationTechnology & softwareMedia & entertainmentHealth & pharma

Publicly known clients

QualiFoods, Arteveldehogeschool, EURid, Hammoumi, Vita+, Puratos, Steenoven, Cultuurcentrum Blankenberge, Pasar, Zorgnet-Icuro, Cambio, EasyPost, Carity, Hitch, Cultuurcentrum de Brouckere

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

1

People 6 people mapped

The heart of this team is creative: 4 of 6 profiles are makers. Within that core, Design, Art Direction and Copywriting stand out. A specialist, not a generalist: the expertise is narrow but deep.

BV

Bert Van Haute

Art director

BS

Broes Sanders

Project manager & copywriter

CD

Claar De Waele

Brand designer

MC

Magali Cornet

Brand designer

NR

Nick Robaeys

Project manager

SV

Sofie Van Haute

Project 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

€ 59.546

-2% versus the median

Team composition

1,9 FTE

€ 59.546

Median Brandingbureau (2025) € 60.980All 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 2023

43,5%

Median for this type of agency (2025): 38,9%

Inflow 2023

/

20212022202320242025

Figures for financial year 2023: 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.