Where is Silver & Copper located?

In Sint-Genesius-Rode, Belgium.

What is Silver & Copper specialised in?

Brand strategy & positioning, Marketing strategy, Brand identity & design, Campaign concepts & big ideas, Campaign execution.

How big is Silver & Copper?

Around 1 full-time equivalent (financial year 2022).

Review: Silver & Copper

Silver & Copper is een creatief bureau met thuisbasis in Sint-Genesius-Rode. Het bureau combineert creatie & reclame, strategie en branding & identiteit. De ervaring zit vooral in merken/adverteerders die status quo willen uitdagen.

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

202020212022

Latest year: € 31.880 gross margin, growth - against a sector median of +8,3%.

Not enough history

MarginEBITDA / gross margin · value-added coverage

202020212022

Silver & CopperSector median

EBITDA margin 12,1%, sector median 25,7%. Value-added coverage 1,14 (median 1,26). 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

€ 31.880

Median (2022) € 75.817

Against a payroll cost of € 27.713 per FTE. The ratio between the two is the coverage rate above.

Below the median

Yield levelYield per hour worked, against payroll cost

€ 17

Median (2022) € 46

1.850 hours worked, 1.850 per FTE. Against that sits € 15 of payroll cost per hour worked, leaving € 2 for premises, equipment, depreciation and profit.

Below 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: 12,9 months (median 9,8 mo). Equity in the latest year: € 29.772.

Adequate buffer

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

Cash € 7.610. Liquidity ratio 1,14: current assets cover short-term debt in full. Solvency 11%.

Tightly covered

Payment behaviourTowards suppliers and towards the NBB

Trade payables correspond to 113 days of supplier credit, sector median 90. The accounts were filed 216 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

Zichtbaarheid verschoven · 1 Aug 2026 · Google Autocomplete

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

Strong buffer: 12,9 months of payroll in equity
Comfortable cash position: 100 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.

3 financial years, 2020 to 2022Result, staff and balance sheet

	2020	2021	2022
Result
Gross margin	€ 0	€ 0	€ 31.880
EBITDA	-	-	€ 3.851
EBITDA margin	-	-	12,1%
Staff
FTE	-	-	1,0
Gross margin per FTE	-	-	€ 31.880
Payroll cost per FTE	-	-	€ 27.713
Balance sheet
Equity	-	-	€ 29.772
Cash	-	-	€ 7.610
Liquidity ratio	-	-	1,14

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 2022, filed on 01/02/2023. 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 2022: the last year for which nearly all accounts have been filed.

What the agency actually does 5 services

Strategy & Insights

Brand strategy & positioning Marketing strategy

Branding & Design

Brand identity & design

Advertising & Campaigns

Campaign concepts & big ideas Campaign execution

Sector focus

merken/adverteerders die status quo willen uitdagen

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

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

€ 27.713

-53% versus the median

Team composition

1,0 FTE

€ 27.713

Median Creatief bureau (2022) € 59.529All agencies (2022) € 52.722

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.

2

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 2022

/

Median for this type of agency (2022): 38,7%

Inflow 2022

20,0%

Source: annual accounts and social reports (NBB), collected by IKAg. Financial year 2022. Calculations by IKAg; an indication, not financial advice. Sector medians based on financial year 2022: the last year for which nearly all accounts have been filed.