How big is Cronos Europa?

Around 337 full-time equivalents (financial year 2025).

Review: Cronos Europa

Cronos Europa is een digitaal bureau (web & platform) met thuisbasis in Brussel, opgericht in 2008. Met ongeveer 320 VTE is dit een groot bureau.

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: € 30,98 mln gross margin, growth +3,5% against a sector median of +0,6%.

At or above sector pace

MarginEBITDA / gross margin · value-added coverage

20212022202320242025

Cronos EuropaSector median

EBITDA margin 11,6%, sector median 20,7%. Value-added coverage 1,13 (median 1,18). Value-added coverage sits in the sector-wide grey zone (0.95-1.15): context, not an alarm.

Below sector level

Revenue per headGross margin per FTE, against payroll cost

€ 91.916

Median (2024) € 74.646

Against a payroll cost of € 81.574 per FTE. The ratio between the two is the coverage rate above.

Above the median

Yield levelYield per hour worked, against payroll cost

€ 55

Median (2024) € 46

563.742 hours worked, 1.672 per FTE. Against that sits € 49 of payroll cost per hour worked, leaving € 6 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: 5,5 months (median 4,9 mo). Equity in the latest year: € 12,57 mln.

Adequate buffer

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

Cash € 33.363. Liquidity ratio 1,65: current assets cover short-term debt in full. Solvency 40,8%.

Amply covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 51 days of supplier credit, sector median 47. The accounts were filed 236 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

No serious signals

Signals in the last 24 months

Late filing · 24 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.
Late filing · 29 Sep 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.
Board change · 24 Sep 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.
Board change · 9 Oct 2024 · 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.

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

Gross margin grew 4 years in a row
Profitable in every one of the last 5 years
Team grew (+5,4% FTE in the latest year)
Healthy working capital (current ratio 1,65)
Equity was earned, not injected (reserves 176,6× the capital contributed)
Turnover below the median (19,2%)

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	€ 3,71 mln	€ 6,43 mln+73,4%	€ 25,48 mln+296,3%	€ 29,94 mln+17,5%	€ 30,98 mln+3,5%
EBITDA	€ 1,24 mln	€ 1,76 mln	€ 2,79 mln	€ 4,65 mln	€ 3,61 mln
EBITDA margin	33,4%	27,3%	11%	15,5%	11,6%
Staff
FTE	40,2	66,7+65,9%	144,5+116,6%	319,7+121,2%	337,1+5,4%
Gross margin per FTE	€ 92.268	€ 96.410	€ 176.341	€ 93.639	€ 91.916
Payroll cost per FTE	€ 61.370	€ 70.062	€ 156.353	€ 79.450	€ 81.574
Balance sheet
Equity	€ 928.477	€ 2,16 mln	€ 7,38 mln	€ 9,94 mln	€ 12,57 mln
Cash	€ 16.081	€ 16.007	€ 855.535	€ 301.434	€ 33.363
Liquidity ratio	1,62	1,54	1,12	1,52	1,65

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 24/08/2026. 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 21 Sep 2026. Sector medians based on financial year 2024: the last year for which nearly all accounts have been filed.

Coming soon

We're working on this part of the factsheet.

Coming soon

We're working on this part of the factsheet.

1

People 5 people mapped

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. A small team: short lines, little noise between you and the makers.

MS

Mariam Sourroukh

Business Development Director

MC

Marie Coppieters

HR & Talent Director

ND

Nicolas Desmares

Sales Operations Director

OV

Olivier Van Baerlem

Finance Director

VH

Victoria Henderson

Head of Communication Services

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

€ 81.574

+36% versus the median

Team composition

337,1 FTE

48% women
52% men

€ 81.574

Median Digitaal bureau (web & platform) (2024) € 59.996All agencies (2024) € 59.045

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

19,2%

Median for this type of agency (2024): 29,3%

Inflow 2025

23,4%

79,0 FTE in, 64,8 FTE out

Net team change

+14,2 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 2024: the last year for which nearly all accounts have been filed.