What is Visuality specialised in?

Content strategy & editorial, Copywriting & long-form content, Website strategy & UX, Corporate communication, PR strategy & media relations.

How big is Visuality?

Around 3 full-time equivalents (financial year 2025).

Review: Visuality

Q: Who are the clients of Visuality?

Among others P&V Foundation, Global Water Partnership, European Commission, Christelijke Mutualiteit, EU Joint Research Centre (JRC), EGL, CMEPIUS, EU-Cord.

Vanuit Laken werkt Visuality sinds 2010 als contentbureau. Het team telt ongeveer 3 medewerkers (VTE). Ze werken rond content & copy, ux/ui design en pr & communicatie. Het zwaartepunt ligt bij opdrachtgevers uit instellingen en bedrijven en organisaties; eu/overheid. Uit de publiek bekende klantenlijst: P&V Foundation, Global Water Partnership, European Commission en Christelijke Mutualiteit.

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: € 213.887 gross margin, growth -4,4% against a sector median of -14,9%.

At or above sector pace

MarginEBITDA / gross margin · value-added coverage

20212022202320242025

VisualitySector median

EBITDA margin 15%, sector median 20,9%. Value-added coverage 1,18 (median 1,21).

Healthy margin

Revenue per headGross margin per FTE, against payroll cost

€ 66.840

Median (2025) € 69.584

Against a payroll cost of € 54.356 per FTE. The ratio between the two is the coverage rate above.

Around the median

Yield levelYield per hour worked, against payroll cost

€ 44

Median (2025) € 47

4.859 hours worked, 1.518 per FTE. Against that sits € 36 of payroll cost per hour worked, leaving € 8 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: 5,4 months (median 6,7 mo). Equity in the latest year: € 77.806.

Adequate buffer

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

Cash € 41.324. Liquidity ratio 1,43: current assets cover short-term debt in full. Solvency 36,2%.

Amply covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 96 days of supplier credit, sector median 78. The accounts were filed 126 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

Points to ask about

Signals in the last 24 months

Zichtbaarheid verschoven · 1 Sep 2026 · Google Autocomplete
Board change · 23 Oct 2025 · 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.
Late filing · 28 Aug 2025 · 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.

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

Outgrew the sector median 3 years running
Profitable in every one of the last 5 years
Stable team (no meaningful FTE loss)
Healthy working capital (current ratio 1,43)
Equity was earned, not injected (reserves 8,8× the capital contributed)
Comfortable cash position: 87 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	€ 235.612	€ 119.279-49,4%	€ 139.222+16,7%	€ 223.698+60,7%	€ 213.887-4,4%
EBITDA	€ 69.222	€ 47.046	€ 26.727	€ 52.042	€ 32.036
EBITDA margin	29,4%	39,4%	19,2%	23,3%	15%
Staff
FTE	3,4	2,2-35,3%	2,6+18,2%	3,2+23,1%	3,20%
Gross margin per FTE	€ 69.298	€ 54.218	€ 53.547	€ 69.906	€ 66.840
Payroll cost per FTE	€ 48.606	€ 32.043	€ 42.119	€ 53.045	€ 54.356
Balance sheet
Equity	€ 125.601	€ 130.360	€ 108.593	€ 100.106	€ 77.806
Cash	€ 122.476	€ 69.121	€ 96.836	€ 69.493	€ 41.324
Liquidity ratio	1,57	1,97	1,51	1,55	1,43

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 06/05/2026. 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 5 services

Content & Production

Content strategy & editorial Copywriting & long-form content

Digital Experience & Tech

Website strategy & UX

PR & Reputation

Corporate communication PR strategy & media relations

Sector focus

Public sector & governmentHealth & pharmaEducation

Publicly known clients

P&V FoundationGlobal Water PartnershipEuropean CommissionChristelijke MutualiteitEU Joint Research Centre (JRC)EGLCMEPIUSEU-Cord

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

1

People 5 people mapped

The heart of this team is creative: 2 of 5 profiles are makers. Within that core, Illustratie, Design and Art Direction stand out. The titles skew top-heavy: lots of seniority, few juniors — you're mostly buying experience. A specialist, not a generalist: the expertise is narrow but deep.

EJ

Ela Jakubek-Grootjans

Account & Project manager

MC

Mara Callaert

Partner & Founder

SR

Sven Retoré

Partner

MF

María Foulquié García

Illustrator & Visual Practitioner

PV

Pauline Vidal

Illustrator & Visual Practitioner

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

€ 54.356

-5% versus the median

Team composition

3,2 FTE

€ 54.356

Median Contentbureau (2025) € 57.167All 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

50,0%

Median for this type of agency (2025): 43,9%

Inflow 2025

25,0%

0,8 FTE in, 1,6 FTE out

Net team change

-0,8 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.