We Are The Words
The content of this factsheet is in Dutch.
We Are The Words werkt ruim twintig jaar als contentbureau uit Brussel. Het aanbod bestrijkt content & copy, seo, paid media (sea/social/display) en strategie. Het zwaartepunt ligt bij opdrachtgevers uit b2b en b2c adverteerders/merken. Publiek gekende klanten zijn onder meer La Voix Du Nord, Cyber Security Coalition, La Sacem en April Belgium.
How this agency makes money
Revenue, margin and what an hour of work brings in. Everything on the earning side sits together here.
Can the agency take a hit
Buffer, cash position and payment behaviour side by side, so you can see where they disagree.
Signals and strengths
Events from the CBE and the Official Gazette over the past 24 months, plus positive markers derived from the figures.
Continuity
3 red flag(s) (24m)- Negative equity · 30 Sep 2025 · NBBDebts exceed assets. Sometimes a subordinated shareholder loan sits opposite that, sometimes not. Ask how the agency is covering this, and on what timescale.
- Critical buffer · 30 Sep 2025 · NBBEquity covers less than one month of payroll. At an agency that pays out its profit every year this means something different than at one that is losing money. Ask where the reserve sits.
- Low value-added coverage · 30 Sep 2025 · NBBEvery euro of payroll generates less than 95 cents of added value. That happens in a build-up year, with a lot of subcontracting, or under pressure on rates. Ask what explains it here.
- Two consecutive loss-making years · 30 Sep 2025 · NBBTwo 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.
- Late filing · 2 Jun 2025 · NBBThe 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 · 20 Feb 2025 · NBBThe 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.
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 | € 100.337 | € 81.682-18,6% | € 90.602+10,9% | € 86.853-4,1% | € 68.665-20,9% |
| EBITDA | € 35.614 | € 15.161 | € -16.471 | € -50.110 | € -13.312 |
| EBITDA margin | 35,5% | 18,6% | -18,2% | -57,7% | -19,4% |
| Staff | |||||
| FTE | 1,0 | 1,00% | 1,6+60% | 1,8+12,5% | 1,0-44,4% |
| Gross margin per FTE | € 100.337 | € 81.682 | € 56.626 | € 48.252 | € 68.665 |
| Payroll cost per FTE | € 62.709 | € 65.746 | € 65.793 | € 73.528 | € 79.604 |
| Balance sheet | |||||
| Equity | € 12.017 | € -1.572 | € -45.256 | € -124.116 | € -164.893 |
| Cash | € 15.442 | € 159 | - | - | - |
| Liquidity ratio | 1,70 | 1,45 | 1,13 | 0,67 | 0,39 |
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 30/04/2026. 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 6 services
Sector focus
Publicly known clients
Based on IKAg research and public sources. Incomplete or outdated? Let us know.
People 1 people mapped
Based on public profiles. Something wrong? Let us know.
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.
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.
Figures for financial year 2024: in 2025 this agency published no inflow or outflow.
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.
Frequently asked questions about We Are The Words
- When was We Are The Words founded?
- In 1999.
- Where is We Are The Words located?
- In Brussel, Belgium.
- What is We Are The Words specialised in?
- Marketing strategy, Content strategy & editorial, Copywriting & long-form content, Paid social, Search advertising (SEA), SEO & GEO.
- How big is We Are The Words?
- Around 1 full-time equivalent (financial year 2025).
- Who are the clients of We Are The Words?
- Among others La Voix Du Nord, Cyber Security Coalition, La Sacem, April Belgium, Crédit Logement, Decathlon, Brady Corporation.
Figures from the annual accounts up to financial year 2025. Company details checked against the CBE register on 2026-10-13.