What is FCR Media specialised in?

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

How big is FCR Media?

Around 163 full-time equivalents (financial year 2025).

Review: FCR Media

FCR Media is een full-service bureau met thuisbasis in Berchem, opgericht in 2008. Op de loonlijst staan ongeveer 163 voltijdse equivalenten. De dienstverlening draait om paid media (sea/social/display) en seo. Sectorieel richt het bureau zich vooral op belgische kmo's en zelfstandigen en sector-agnostisch. Het bureau maakt deel uit van een groep.

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: € 14,23 mln gross margin, growth -5,9% against a sector median of +1,7%.

Shrinking

MarginEBITDA / gross margin · value-added coverage

20212022202320242025

FCR MediaSector median

EBITDA margin 7,6%, sector median 23,9%. Value-added coverage 1,07 (median 1,27). 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

€ 87.121

Median (2025) € 78.251

Against a payroll cost of € 97.024 per FTE. The ratio between the two is the coverage rate above.

Above the median

Yield levelYield per hour worked, against payroll cost

€ 62

Median (2025) € 49

228.923 hours worked, 1.402 per FTE. Against that sits € 69 of payroll cost per hour worked, leaving € -7 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: -0,2 months. Equity in the latest year: € -303.460.

Group entity - see note

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

Cash € 536.285. Liquidity ratio 0,74: current assets cover short-term debt not in full. Solvency -3,4%.

Not covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 46 days of supplier credit, sector median 54. The accounts were filed 162 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

2 red flag(s) (24m)

Signals in the last 24 months

Two consecutive loss-making years · 31 Dec 2025 · NBB
Two financial years in a row closed at a loss. That can be an investment period, or a client that fell away. Ask what explains the pattern and what has changed since.
Board change · 24 Feb 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.
Two consecutive loss-making years · 31 Dec 2024 · NBB
Two financial years in a row closed at a loss. That can be an investment period, or a client that fell away. Ask what explains the pattern and what has changed since.

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

Turnover below the median (11,1%)

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	€ 17,46 mln	€ 17,05 mln-2,3%	€ 16,93 mln-0,7%	€ 15,12 mln-10,7%	€ 14,23 mln-5,9%
EBITDA	€ 1,47 mln	€ 1,55 mln	€ 1,37 mln	€ 436.528	€ 1,09 mln
EBITDA margin	8,4%	9,1%	8,1%	2,9%	7,6%
Staff
FTE	216,2	195,4-9,6%	188,5-3,5%	182,4-3,2%	163,3-10,5%
Gross margin per FTE	€ 80.741	€ 87.253	€ 89.836	€ 82.914	€ 87.121
Payroll cost per FTE	€ 70.873	€ 76.828	€ 85.347	€ 86.864	€ 97.024
Balance sheet
Equity	€ 904.130	€ 52.925	€ 2,13 mln	€ 344.972	€ -303.460
Cash	€ 1,90 mln	€ 860.755	€ 1,16 mln	€ 197.957	€ 536.285
Liquidity ratio	0,82	0,58	0,82	0,67	0,74

Payroll cost per FTE comes from the social report where available, otherwise from the Remuneration line. Both are gross costs including employer contributions.

Group entity. This agency is a subsidiary of an (international) group. Thin equity at network subsidiaries is often group policy (management fees, dividends to the parent) rather than a distress signal. The buffer dimension is therefore not assessed.

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 11/06/2026. 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

Belgische KMO's en zelfstandigensector-agnostisch

From our own research. The agency hasn't listed its sectors yet.

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

1

People 2 people mapped

AP

Anouk Paulus

BL

Bjorn Lamelyn

Adviserend expert in digitale oplossingen

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

€ 97.024

+61% versus the median

Team composition

163,3 FTE

63% women
37% men

€ 97.024

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 2025

11,1%

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

Inflow 2025

3,9%

6,4 FTE in, 18,2 FTE out

Net team change

-11,8 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.