What does T.B.W.A. do?

T.B.W.A. is an advertising agency in Zaventem. Public Limited, started on 25 April 1974, 1 establishment.

What is the address of T.B.W.A.?

The registered office of T.B.W.A. is located at Excelsiorlaan 75-77, 1930 Zaventem.

Is T.B.W.A. still active?

Yes. According to the CBE (29 October 2026) T.B.W.A. is active, legal situation “Normale toestand”, started on 25 April 1974.

Is T.B.W.A. registered on Peppol?

Yes, T.B.W.A. is registered on the Peppol network with ID 0208:0414235827.

What is the enterprise number of T.B.W.A.?

The enterprise number of T.B.W.A. is BE0414235827.

When was T.B.W.A. founded?

T.B.W.A. was founded on 25 April 1974.

Who are the directors of T.B.W.A.?

According to the 2025 annual accounts, the directors of T.B.W.A. are: OAG Belgium NV, Lajuro BV, Jan Macken, Kristof Janssens, Bert Denis, Frank Marinus, Gunther Van Lany, Kris Govaerts.

Is T.B.W.A. a reliable company?

Databakkes does not pass judgement; this is what the sources say: Active according to the CBE since 25 April 1974; 5 annual accounts filed, latest fiscal year 2025; 17 directors known from the annual account.

How much profit did T.B.W.A. make in 2025?

T.B.W.A. posted a profit after taxes of € 815,392 in financial year 2025.

What is the revenue of T.B.W.A.?

In its most recent annual accounts (2025), T.B.W.A. reported revenue of € 29,801,559.

How much does an employee at T.B.W.A. earn?

The average wage cost per full-time employee at T.B.W.A. was € 76,600 in 2025: staff costs of € 5.7 million for 74.5 FTE, according to the annual account at the National Bank. That is the employer's cost, not net pay.

How many employees does T.B.W.A. have?

According to the 2025 annual accounts, T.B.W.A. has 74.5 full-time equivalents (FTE).

T.B.W.A. (Public Limited) - Zaventem - BE0414235827

Dossier T.B.W.A., printed on 29 October 2026 from databakkes.be/en/0414235827/t-b-w-a. Sources: CBE, National Bank of Belgium, Belgian Official Gazette.

Warning lights

Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.

Tight liquidity NBB

Cash and receivables cover 52 % of short-term debt in 2025; threshold 65 %.
Shrinking team NBB

FTE fell two years in a row, from 95.4 to 74.5.

Financials

Financial year 2025

T.B.W.A. from Zaventem, company number BE0414235827, closed financial year 2025 with a result of € 815,392 after tax. For that financial year T.B.W.A. recorded revenue of € 29.8 million and equity of € 570,468. Compared with financial year 2024, the result moved from € 1.8 million to € 815,392. The company is profitable. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on October 1, 2026.

What it is worth Growing

€ 570,468

▲ 13% vs 2024

Assets minus debts, by the books. What is left if everything were sold and paid today.

Profit Healthy

€ 815,392

▼ 54% vs 2024

Profit after tax over the fiscal year.

Cash in the bank

€ 14,233

▲ 240% vs 2024

Cash and bank balances on the last day of the fiscal year.

Where the profit goes Pays out

€ 750,000 paid out

92 % of the profit went to the shareholders, mostly to OAG Belgium NV (100 % of the shares). That is where the money ends up.

People and assets in 2025

Full-time equivalents

74.5

▼ 9.1 vs 2024

Average over the fiscal year, from the social balance sheet.

Wage cost Staff costs are payroll only. Director pay sits with services and miscellaneous goods: € 7.5 million in 2025, together with rent, insurance, accountants and other services. The accounts do not split that further.

€ 5.7 million

▼ 15% vs 2024

€ 76,600 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.

Vehicles and equipment

€ 370,210

▼ 34% vs 2024

Of which on lease € 367,303.

Debts at end 2025

Bank debt ≈ 2 years to go The accounts give the long-term loan and the part due within the year. The remainder divided by that part is the number of years at an equal pace; a new loan or early repayment changes it.

€ 375,377

▼ 24% vs 2024

€ 177,440 is repaid this year. At this pace the long-term loan is gone in ≈ 2 years.

Owed to suppliers

€ 6.6 million

▲ 40% vs 2024

Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 78 days on average.

Taxes and wages

€ 2.1 million

▼ 36% vs 2024

Taxes, VAT and social contributions still to pay.

Key figures per fiscal year Download key figures (CSV)
	2022	2023	2024	2025	Change 2024 → 2025
Revenue	€ 36,685,249 Revenue 2022: € 36,685,249 First fiscal year in the series	€ 30,638,746 Revenue 2023: € 30,638,746 ▼ 16% vs 2022 (€ 36,685,249) Unfavourable step	€ 32,219,588 Revenue 2024: € 32,219,588 ▲ 5% vs 2023 (€ 30,638,746) Favourable step	€ 29,801,559 Revenue 2025: € 29,801,559 ▼ 8% vs 2024 (€ 32,219,588) Unfavourable step	▼ 8%
Profit after taxes	€ 966,978 Profit after taxes 2022: € 966,978 First fiscal year in the series	€ 2,490,223 Profit after taxes 2023: € 2,490,223 ▲ 158% vs 2022 (€ 966,978) Favourable step	€ 1,770,984 Profit after taxes 2024: € 1,770,984 ▼ 29% vs 2023 (€ 2,490,223) Unfavourable step	€ 815,392 Profit after taxes 2025: € 815,392 ▼ 54% vs 2024 (€ 1,770,984) Unfavourable step	▼ 54%
Equity	€ 493,869 Equity 2022: € 493,869 First fiscal year in the series	€ 484,092 Equity 2023: € 484,092 ▼ 2% vs 2022 (€ 493,869) Unfavourable step	€ 505,076 Equity 2024: € 505,076 ▲ 4% vs 2023 (€ 484,092) Favourable step	€ 570,468 Equity 2025: € 570,468 ▲ 13% vs 2024 (€ 505,076) Favourable step	▲ 13%
Total debts	€ 22,900,673 Total debts 2022: € 22,900,673 First fiscal year in the series	€ 28,314,580 Total debts 2023: € 28,314,580 ▲ 24% vs 2022 (€ 22,900,673) Unfavourable step	€ 24,782,352 Total debts 2024: € 24,782,352 ▼ 12% vs 2023 (€ 28,314,580) Favourable step	€ 28,996,312 Total debts 2025: € 28,996,312 ▲ 17% vs 2024 (€ 24,782,352) Unfavourable step	▲ 17%
Cash	€ 6,906 Cash 2022: € 6,906 First fiscal year in the series	€ 9,001 Cash 2023: € 9,001 ▲ 30% vs 2022 (€ 6,906) Favourable step	€ 4,186 Cash 2024: € 4,186 ▼ 53% vs 2023 (€ 9,001) Unfavourable step	€ 14,233 Cash 2025: € 14,233 ▲ 240% vs 2024 (€ 4,186) Favourable step	▲ 240%
Retained profit	€ 57,869 Retained profit 2022: € 57,869 First fiscal year in the series	€ 48,092 Retained profit 2023: € 48,092 ▼ 17% vs 2022 (€ 57,869) Unfavourable step	€ 69,076 Retained profit 2024: € 69,076 ▲ 44% vs 2023 (€ 48,092) Favourable step	€ 134,468 Retained profit 2025: € 134,468 ▲ 95% vs 2024 (€ 69,076) Favourable step	▲ 95%
Dividend	€ 1,050,000 Dividend 2022: € 1,050,000 First fiscal year in the series	€ 2,500,000 Dividend 2023: € 2,500,000 ▲ 138% vs 2022 (€ 1,050,000) Unchanged	€ 1,750,000 Dividend 2024: € 1,750,000 ▼ 30% vs 2023 (€ 2,500,000) Unchanged	€ 750,000 Dividend 2025: € 750,000 ▼ 57% vs 2024 (€ 1,750,000) Unchanged	▼ 57%
Bank debt	€ 565,456 Bank debt 2022: € 565,456 First fiscal year in the series	€ 486,585 Bank debt 2023: € 486,585 ▼ 14% vs 2022 (€ 565,456) Favourable step	€ 495,458 Bank debt 2024: € 495,458 ▲ 2% vs 2023 (€ 486,585) Unfavourable step	€ 375,377 Bank debt 2025: € 375,377 ▼ 24% vs 2024 (€ 495,458) Favourable step	▼ 24%
Balance sheet total	€ 23,394,541 Balance sheet total 2022: € 23,394,541 First fiscal year in the series	€ 28,798,672 Balance sheet total 2023: € 28,798,672 ▲ 23% vs 2022 (€ 23,394,541) Unchanged	€ 25,287,428 Balance sheet total 2024: € 25,287,428 ▼ 12% vs 2023 (€ 28,798,672) Unchanged	€ 29,566,780 Balance sheet total 2025: € 29,566,780 ▲ 17% vs 2024 (€ 25,287,428) Unchanged	▲ 17%
Employees (FTE)	106.1 Employees (FTE) 2022: 106.1 First fiscal year in the series	95.4 Employees (FTE) 2023: 95.4 ▼ 10.7 vs 2022 (106.1) Unchanged	83.6 Employees (FTE) 2024: 83.6 ▼ 11.8 vs 2023 (95.4) Unchanged	74.5 Employees (FTE) 2025: 74.5 ▼ 9.1 vs 2024 (83.6) Unchanged	▼ 9.1

Key figures of T.B.W.A., fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.

What happened to T.B.W.A.?

What happened at T.B.W.A. in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:

2029 OAG Belgium NV stepped down as director. NBB
2029 Kristof Janssens stepped down as director. NBB
2029 Frank Marinus stepped down as director. NBB
2029 Kris Govaerts stepped down as director. NBB
2029 Bauwhaus BV stepped down as director. NBB
2029 F+C BV stepped down as director. NBB
2029 Marieke Michils stepped down as director. NBB
2029 Jochen De Greef stepped down as director. NBB

In short

From € 966,978 profit in 2022 to € 815,392 profit in 2025.

Paid € 2.6 million in corporate taxes since 2022.

Best year ever: 2023, with € 2.5 million profit.

Paid out € 6.1 million in dividends to the owners in total.

Original PDFs at the National Bank ↗

Management

OAG Belgium NV 99.9%

TBWA International Holding EURL 0.1%

T.B.W.A.

The shares are held by OAG Belgium NV (99.9%) and TBWA International Holding EURL (0.1%).

Directors

According to the 2025 annual accounts

OAG Belgium NV

Vast vertegenwoordiger rechtspersoon · represented by Marc van Diepen

Also active at: Batten, Barton, Durstine en Osborn Belgium, DDB, BBDO, ENGAGE BBDO, Ketchum, Proximity BBDO, MARKETING en ENTERTAINMENT, DE VLOER +2 more

since 2020 · until 2029

Lajuro BV

Director · represented by Stephanie Vercruysse

since 2024 · until 2026

Jan Macken

Director

since 2020 · until 2025

Kristof Janssens

Director

since 2020 · until 2029

Bert Denis

Director

since 2020 · until 2025

Frank Marinus

Director

since 2020 · until 2029

Gunther Van Lany

Director

since 2020 · until 2025

Kris Govaerts

Director

Also active at: Batten, Barton, Durstine en Osborn Belgium, DDB, DARWIN BBDO, BBDO, ENGAGE BBDO, Ketchum, E-GRAPHICS, Proximity BBDO +1 more

since 2020 · until 2029

Bauwhaus BV

Director · represented by Nicolas De Bauw

since 2024 · until 2029

F+C BV

Director · represented by Maximiliaan Fauconnier

Also active at: SEMETIS

since 2024 · until 2029

Marieke Michils

Director

since 2025 · until 2029

Jochen De Greef

Director

since 2020 · until 2029

Sylvie Dewaele

Director

since 2020 · until 2026

Geert Verdonck

Director

since 2023 · until 2029

Sylvie Consult BV

Director · represented by Sylvie Dewaele

since 2026 · until 2029

Jasper Govaerts

Director

since 2022 · until 2029

Nancy Vanlerberghe

Director

since 2020 · until 2026

Shareholders

OAG Belgium NV

99.9%

TBWA International Holding EURL

0.1%

Participations

No participations in other companies reported.

Establishments

Establishment units

Physical locations of this company

Registered office

Excelsiorlaan 75-77

1930 Zaventem

Who else lives here?

A building full of entrepreneurs or one very busy letterbox? Another 6 companies are registered at this address.

All companies at this address →

DDB same network

€ 1.9 million gross margin · 2025

Omnicom Advertising Group Belgium same network

€ 30 million revenue · 2025

MARKETING en ENTERTAINMENT same network

€ 2.1 million gross margin · 2025

Perfect Workforce

WORKING COMPANY

+1 more

What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.

Details

Company number

0414.235.827

VAT number

BE 0414.235.827

Registered office

Excelsiorlaan 75-77, 1930 Zaventem

Names & denominations

T.B.W.A.

Enterprise type

Rechtspersoon

Legal form

Public limited company

Legal situation

Normale toestand

Start date

25 April 1974

Peppol

Active · Active since 18 Dec 2025

Activities · NACE

Activiteiten van reclamebureaus

Publiciteitsagentschappen

View on CBE Public ↗ Annual accounts (NBB) ↗

T.B.W.A.

Warning lights

Financials

What happened to T.B.W.A.?

Management

Directors

Shareholders

Participations

Establishments

Establishment units

Who else lives here?

Details

Frequently asked questions