Annual Report FY18
Serving clients from Strategy through Execution
Annual Report FY18
Serving clients from Strategy through Execution
Thriving in challenging times
Notwithstanding the increasingly competitive market in which we operate and the growing number of niche players in fields in which we’re active that are broadening the competitive landscape, we increased our net revenues by almost eight percent from 288.1 million euros in FY17 to 310.2 million euros this year.
The competitive nature of the environment will continue to intensify over the months and years to come, and regulatory complexity is likely to only increase, which is why we’re maintaining our efforts to work more and more as One firm, combining our numerous areas of deep expertise to serve clients with holistic offerings, from Strategy through Execution. In FY18, our clients - and our firm - began to truly reap the rewards of this approach, especially as companies seek to adapt to changes in society and find the solutions their business needs all under one roof.
During FY18, we continued our significant investment in the transformation of not just our services, but skills and workspaces, especially in terms of digital technologies. Our new PwC Europe Experience Centre in Brussels is a prime example of this.
During the year, we also maintained our focus on giving back to the communities in which we operate and striving to build a value-driven culture that supports the development of sustainable businesses of all sizes for the future.
Our ability to embrace change and see the real opportunities it affords will help us keep in step and transform our business for the future
Advisory
Outpacing the market… in Deals and Consulting
In a market where growth has slowed slightly compared to last year, our ability to increase net revenues in our Advisory practice by 17% in FY18 to 71.2 million euros - up from 60.8 million euros in FY17 - is a noteworthy achievement.
Our industry-based solutions and integrated approach, together with focused investments in Digital, Transformation & Strategy Consulting, and Delivering Deal Value from initiation to integration supported our strong growth path.
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Assurance
Securing our place at the forefront of our profession
Our Assurance practice grew its net revenues by two percent, from 112.7 million euros in FY17 to 114.6 million euros in FY18. PwC is now the biggest audit player and market leader in our sector in Belgium, a position that, by continuing to focus on delivering the highest-quality services, we’ll be working to further strengthen going forward.
Over the past year, we’ve developed and introduced a number of digital solutions that epitomise how we’re using technologies to modernise our offerings and add even greater value to clients’ businesses.
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Tax & Legal Services (TLS)
Devising sustainable tax strategies
TLS enjoyed good growth of 8.5% in a mature market, raising net revenues from 114.7 million euros in FY17 to 124.4 million euros in FY18. Much of our growth was due to improved market circumstances; a dynamic Deals market and more positive market outlook versus previous year. The final agreement of the tax reform in Belgium and the introduction of new legislation regarding value-added tax (VAT) on buildings also helped increase demand for our expertise.
Our aim is to work with clients to reduce uncertainty as far as possible with regards tax-related matters and install flexibility in processes and systems to prepare for possible developments, creating sustainable tax strategies for the future.
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Annual Report of FY18
Serving clients from Strategy through Execution
PwC Belgium reports on its performance and activities during FY18, showcasing the value it adds to clients as they seek to transform their businesses.
Clients
Delivering an inimitable PwC Experience
Listening and responding to clients needs, and working side by side to deliver the high-quality output they expect.
Community
Playing our role in the world of tomorrow
We care for the environment and communities around us, and seek to support the ambitions of future leaders.
Digital & Innovation
Transforming businesses by reimagining the possible
We look at challenges in new ways, using fresh perspectives - and especially new technologies - to solve business issues.
People
Securing the workforce of the future
People are at the heart of everything we do; those who work for PwC, the clients we serve and the partners we work with.
Quality
Investing in continuous improvement
Quality is a topic that we focus on every single day; we make every effort to offer the highest-quality services, delivered in the most effective and efficient way.
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