What is Varamedia specialised in?

Paid social, Search advertising (SEA), SEO & GEO.

How big is Varamedia?

Around 1 full-time equivalent (financial year 2025).

Review: Varamedia

Q: Who are the clients of Varamedia?

Among others Dassy, Syntra MVL, Tefal, Rowenta, Moulinex, Badkamers Groep Wouters, The Swan Clinic, Experza, Woodcom, TetraVision, Traffic Solutions, DHB Bank, Gemeente Beernem, Camping Duinoord, SkinSecrets.

Varamedia is een full-service bureau uit Beernem, actief sinds 2019. Het aanbod is gericht op paid media (sea/social/display) en seo. De klanten komen vooral uit kmo's in oost- en west-vlaanderen.

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: € 171.734 gross margin, growth -1,5% against a sector median of +1,7%.

Growing slower than the sector

MarginEBITDA / gross margin · value-added coverage

20212022202320242025

VaramediaSector median

EBITDA margin 75,9%, sector median 23,9%. Value-added coverage 4,21 (median 1,27).

Healthy margin

Revenue per headGross margin per FTE, against payroll cost

€ 214.668

Median (2025) € 78.251

Against a payroll cost of € 50.672 per FTE. The ratio between the two is the coverage rate above.

Above the median

Yield levelYield per hour worked, against payroll cost

€ 123

Median (2025) € 49

1.391 hours worked, 1.739 per FTE. Against that sits € 29 of payroll cost per hour worked, leaving € 94 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: 26,0 months (median 5,8 mo). Equity in the latest year: € 87.900.

Adequate buffer

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

Cash € 59.121. Liquidity ratio 1,49: current assets cover short-term debt in full. Solvency 43,5%.

Amply covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 42 days of supplier credit, sector median 54. The accounts were filed 120 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

No serious signals

Signals in the last 24 months

Sharp headcount decline · 31 Dec 2024 · NBB
Average headcount fell by 15% or more in a year. That can be contraction, and just as easily a deliberate choice for fewer but more experienced people. Ask who left and who came in their place.

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 (75,9%)
Strong buffer: 26,0 months of payroll in equity
Value-added per euro of payroll above the sector median (4,21)
Margin per hour worked rose 3 years in a row
Healthy working capital (current ratio 1,49)
Equity was earned, not injected (reserves 7,8× the capital contributed)
Comfortable cash position: 532 days of payroll
Invests in training (53 hours per FTE)

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	€ 46.412	€ 202.842+337%	€ 290.904+43,4%	€ 174.272-40,1%	€ 171.734-1,5%
EBITDA	€ 23.073	€ 20.465	€ -14.737	€ 70.363	€ 130.309
EBITDA margin	49,7%	10,1%	-5,1%	40,4%	75,9%
Staff
FTE	0,9	4,7+422,2%	6,0+27,7%	1,6-73,3%	0,8-50%
Gross margin per FTE	€ 51.569	€ 43.158	€ 48.484	€ 108.920	€ 214.668
Payroll cost per FTE	€ 20.761	€ 38.481	€ 50.784	€ 61.412	€ 50.672
Balance sheet
Equity	€ 42.274	€ 48.423	€ 8.224	€ 36.514	€ 87.900
Cash	€ 41.615	€ 59.250	€ 13.079	€ 20.755	€ 59.121
Liquidity ratio	1,64	1,01	0,75	0,95	1,49

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 30/04/2026. 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 3 services

Media

Paid social Search advertising (SEA)

Digital Experience & Tech

SEO & GEO

Sector focus

EducationB2B servicesRetail & e-commerceHealth & pharmaPublic sector & government

Publicly known clients

Dassy, Syntra MVL, Tefal, Rowenta, Moulinex, Badkamers Groep Wouters, The Swan Clinic, Experza, Woodcom, TetraVision, Traffic Solutions, DHB Bank, Gemeente Beernem, Camping Duinoord, SkinSecrets

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

1

People 7 people mapped

A broad team with no clear centre of gravity — digital marketing, creative and data carry roughly equal weight.

JV

Jeroen Van Raemdonck

Bestuurder & SEO Manager

AD

Andries De Clippeleir

Senior Google Advertising en Analytics Expert

AC

Anthonie Coene

Performance marketeer

MM

Maarten Marijs

Lead Webdesign en e-mailmarketing specialist

MA

Merve Avci

Project Manager

SP

Savannah Prez

Social marketeer

WD

Wout De Wilde

Videograaf

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

€ 50.672

-16% versus the median

Team composition

0,8 FTE

Training per FTE

52,5 h

Many agencies fill this field in incompletely.

€ 50.672

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.

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

300,0%

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

Inflow 2024

0,0%

0,0 FTE in, 4,8 FTE out

Net team change

-4,8 FTE

20212022202320242025

Figures for financial year 2024: in 2025 this agency published no inflow or outflow.

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 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.