Annual Report 2025
Moore Belgium
Connected by entrepreneurship.
Nederlandse versie – Version française
01 | Foreword
Connected.
We can once again look back on a fantastic year. We made progress not only in terms of headcount, but also in terms of sales and EBITDA.
That growth didn’t come out of nowhere. We owe our success to a sense of unity that has grown even stronger, if that’s possible. Our four stakeholder groups would certainly agree.
Connection with the customer
We took the time to review the strategy behind our services. In doing so, our House of Noble Purpose also underwent a number of subtle but significant changes. For instance, we scaled up our quality experience target to customer delight: not just delivering quality to the customer, but exceeding expectations.
Connection with society
We are firmly rooted in society and continue to invest in it , not just resources, but also time and expertise. Moore Belgium’s sustainability and charity initiatives have not come to a standstill, on the contrary. The proceeds from the auction in aid of our Foundation, over 100,000 euros, were the best proof of a warm collective commitment.
Connection with our colleagues
We made it onto the podium of ‘Best Workplaces in Belgium 2025’, in the category for very large companies. This is significant, because our employees remain the heart, soul and driving force of Moore Belgium.
Connection with shareholders
Continuing with connection with employees: 2025 also marked the launch of Moore2Share and Moore2Connect, an initiative that gives our people a unique opportunity to participate in the company. No fewer than 416 companions signed up.
At the same time, we have extended our alliance with co-shareholder Waterland for a further term. We are pleased that this fruitful collaboration, between two parties who understand each other very well, is set to continue.
The extended partnership with our lead investor, the broadened shareholder base and the ambition to elevate our services from good to great: all the foundations for sustainable growth are in place. This is how we connect the present with the future, entirely in line with our Noble Purpose.
Peter Verschelden Jo Roseleth
Executive Chairman Moore Belgium Group Managing Partner
02 | Connected by what we’ve achieved together
At Moore Belgium, we’re here to support you. As fellow entrepreneurs, we understand what drives you, and we work together to help you grow. Our culture unites us in the way we think, work, and move forward: as one team, with one goal in mind.
Click on our business units and read about what they’ll look back on with pride in 2025:
Accountancy & Advisory in 2025
“The financial compass of entrepreneurial Belgium.”
From numbers to informed decisions
For Accountancy & Advisory, 2025 was a year of change, proximity and innovation.
At the heart of the Belgian economy, Moore supports entrepreneurs, large and small, in their growth and in making informed choices. Not only as a trusted accountant, but increasingly as a partner who uses finance as a genuine decision-making tool. From 2026, this evolution will also have a new name: Finance & Accounting.
Close to the entrepreneur
Accountancy & Advisory is, quite literally and figuratively, close to the entrepreneur. Every day, teams support clients with their financial and administrative challenges, with an eye for their sector, their business and their ambitions.
In 2025, this approach was further refined through the introduction of a new structure, with a clear focus on markets and sectors. This specialisation enables clients to receive more targeted advice and better support within their specific context.
Growth in scale and proximity
2025 also brought further growth in proximity. Thanks to several acquisitions in Flanders, a series of significant acquisitions in the south of the country and the launch of a new office, Moore’s regional presence was further strengthened.
At the same time, internal investments were made to build a stronger organisation. The further expansion of the digital innovation team and the strengthening of administrative support created greater capacity and scope for quality in service delivery.
One Moore in practice
A key achievement in 2025 was the further integration under the One Moore banner. The Moore Way of Working has evolved into a shared approach that resonates across all offices.
This transformation is not an end in itself. It is necessary to tackle the challenges of the profession while building a sustainable competitive advantage for the future.
Leadership that grows with the organisation
The team is particularly proud of the maturity the management team has achieved by 2025. What once began as a diverse group has evolved into a close-knit team where formal consultation and informal interactions reinforce one another.
This dynamic makes it possible to make decisions swiftly, share successes and tackle challenges together. The commitment and flexibility of this team are a key lever in the further transformation of the service line.
Impact, day in, day out
Every day, Finance & Accounting helps clients move forward with their choices and decisions. In addition, the service line has also taken on a broader social role.
As part of the digital transformation of the economy, Moore has guided thousands of clients through their transition to digital working. This effort has made a tangible differ-ence, both for businesses and for the wider economy.
At a glance
In 2025, more than 18,000 clients were actively supported in the implementation of Peppol and digital collaboration. An intensive process, involving thousands of questions, demos, individual briefings, seminars and webinars. 2025 was therefore clearly dominated by digitalisation and a new way of collaborating between client and accountant.
On the record: Walter Deprins
Service Line Leader Finance & Accounting
What 2025 taught us
“The work is never done. Every step forward brings new challenges. That is precisely what characterises this service line: continuing to learn, continuing to improve and continuing to innovate, just like the clients we support.”
2025 in a nutshell:
“2025 was an intense year full of challenges, growth and a surprising amount of fun.”
Looking ahead:
“In 2026, the client will be placed even more at the centre. The foundations for this were laid in 2025. The further roll-out of Moore One, additional digitalisation and a strong fo-cus on markets and sectors form the core of the next step for Finance & Accounting.”
Audit & Assurance in 2025
“Building trust in a world full of uncertainty.”
Trust, built on insight
For Moore Audit, 2025 was a year of transition and affirmation, in which leadership was handed over, strategic directions were set and strong performance was maintained.
In an economic and social context where uncertainty is becoming the norm, one ambition remained clear: building trust so that entrepreneurs and stakeholders can make in-formed choices.
Auditing with social responsibility
Moore Audit plays a key role in serving the public interest. As auditors, we help strengthen the financial stability of the economy by delivering independent opinions on financial information and performing audit engagements. This helps build the trust that businesses, investors and other stakeholders need today more than ever.
In a world that is becoming increasingly complex and increasingly unpredictable, we support organisations in maintaining control over their risks, their growth and the quality of their decisions. This requires not only technical expertise, but also a strong ethical compass and a keen critical mind.
Continuity and innovation
2025 marked a significant transition in the governance of Moore Audit. In the final quarter, the new Managing Partner took the helm, building on the leadership of Johan Van Mieghem, whose vision and commitment laid a solid foundation for today’s strong performance.
However, continuity also means evolution. Together with all the partners, the foundations for a new strategic direction were laid in 2025. The priorities for the future were clearly defined and translated into concrete action plans. At the same time, Moore Audit remained committed to sustainable growth, both in the further expansion of the team and in the quality and maturity of its services.
One ecosystem, one team
Moore Audit’s public role involves collaboration within a broad ecosystem. In 2025, the team worked closely with clients, employees, shareholders, regulatory bodies and partners. This collaboration is never a one-way street, but is part of a broader platform approach in which dialogue and co-creation are central.
As entrepreneurs for entrepreneurs, Moore Audit supports Belgian companies, many of which also have international ambitions. This involves not only internal collaboration within our own audit team, but also close cooperation with experts from other service lines at Moore Belgium. This multidisciplinary collaboration enhances the relevance and impact of every engagement.
A commitment you can feel
What makes Moore Audit particularly proud in 2025 is the commitment of its staff. Day after day, they dedicate themselves to fulfilling the social mission of auditing, with professionalism and commitment.
This dedication also translates into tangible results. In the final quarter of 2025, a Net Promoter Score of 67 was achieved, an increase of no less than 13 points. A strong signal of client trust, and a clear confirmation of the quality of the collaboration and service provision.
Impact that goes beyond figures
Moore Audit’s impact extends beyond the delivery of audit opinions. By helping organi-sations maintain control over their financial information, we support them in making sound, forward-looking decisions.
Audit engagements always start with a thorough and ongoing risk analysis. Based on this, we formulate independent judgements, aimed at shareholders, governing bodies and other stakeholders. Indirectly, these judgements also contribute to trust within the wider organisation and society.
In addition, Moore Audit invests heavily in the ongoing development of its staff. Through its own audit academy, they receive continuous training, not only to meet legal requirements, but also to keep pace with technological developments and the market’s growing expectations.
At a glance
For Moore Audit, the number “1” symbolises 2025.
One team. One shared ambition. And the determination to take on a leading role as a trusted partner for entrepreneurs and stakeholders.
On the record: Jean-Philippe Thirion
Service Line Leader Audit & Assurance
What 2025 taught us:
“The core of the audit profession remains unchanged: quality, ethics and authenticity. In a context of rapid technological evolution and artificial intelligence, the ability to think critically is becoming ever more important.
Moore Audit sees it as a moral responsibility to continue to cultivate that authentic criti-cal judgement, in the service of clients, employees and society. This conviction forms the basis of what Moore Audit describes as Authentic Auditing.”
2025 in a nutshell:
“In 2025, Moore Audit confirmed its role as a reliable and socially embedded partner, supported by a strong team and a clear vision for the future.”
Looking ahead:
“Three clear priorities have been set for 2026. Firstly, Moore Audit will continue to invest in strengthening competencies and recruiting new experts, with a view to a growing international client base.
In addition, the operational model will be further strengthened through the thorough harmonisation of processes and the continued development of IT tools, including the possibilities offered by artificial intelligence. Finally, we are working on a client approach that combines growth ambitions with sustainable relationships and international clout.”
Business Consulting in 2025
“Growing through connection, accelerating through leadership.”
From Growth to Integrated Impact
2025 was a pivotal year for Business Consulting.
With the integration of the DNA33 companies and the expansion of Moore Advisory, a new scale was achieved. More than 450 consultants, a broader range of services and a clear ambition to help clients move forward holistically. What followed was a year of acceleration, connection and positioning.
From advice to real impact
Moore’s business consultants guide organisations through strategic change, operational improvement and sustainable transformation. Always with a clear focus on what works in practice. No abstract models, but clear pathways that deliver impact on performance, processes and people.
Whether it concerns digital transformation, carbon neutrality, quality, safety or supply chain optimisation: every programme is driven by teams with both subject-matter ex-pertise and a strong understanding of the reality on the shop floor. From vision to implementation.
A leap forward
The acquisition of the DNA33 companies in 2025 marked a major leap forward. Business Consulting has grown into a strong pillar within Moore Advisory, complemented by technology-driven teams and specialised expertise units within Finance, Digital, Supply Chain, Safety & Health and Grants & Incentives.
This combination creates a distinct position in the market. Clients gain access to an integrated offering that thinks strategically, accelerates technologically and delivers operationally.
Connection as a foundation
2025 was all about connection, both internally and across service lines. The M&A process involving DNA33 led to close collaboration with Corporate Finance and Moore Law. The reorganisation of governance into four service lines and the debate on core tasks affected all Group Services, from HR and Finance to Marketing and IT.
The first steps in the integration process with new colleagues, including via ngage, also strengthened collaboration with the integration team. Furthermore, connection was central to the merger of Moore Interim Management and the FAAS team. The same principle applied everywhere: standing stronger together.
A plan that became reality
For the Business Consulting team, 2025 also marked the culmination of the three-year growth plan for 2023–2025. The figures speak for themselves. The team doubled from 60 to 120 consultants and turnover grew from 9 to 18 million euros. At the same time, a clear shift was initiated towards more digitally driven consultancy assignments.
An achievement that is the result of sustained commitment, strong leadership and a strong team spirit.
One team, one mindset
What gave the greatest satisfaction was seeing the ‘One Team’ philosophy grow. Despite the diversity of teams, areas of expertise and clients, everything comes together on the workfloor, during projects and during the many informal moments.
That sense of connection is no coincidence. It is the result of shared values, mutual respect and leadership that gives people room to grow.
Impact for customers
The impact of Business Consulting cannot be summed up in a single case study. In 2025, clients were helped to become stronger, but also to get back on their feet when they were struggling. The tangible results of this can be found in the many client case studies that Moore shares.
Always with the same goal: helping organisations move forward, today and tomorrow.
At a glance
Not a figure, but two names that shaped 2025. Dirk Roelens and Johan Carton officially stepped down after years of dedication to Moore Strategy & Operations. Their experience, entrepreneurial spirit and enthusiasm have left a lasting mark on the team. The torch has been passed on; their legacy lives on.
On the record: Luc De Muynck
Service Line Leader Business Consulting/Advisory
What 2025 taught us:
“Strong leadership makes all the difference. The stronger the leaders, the stronger the teams, the better the results and the higher the customer satisfaction. That conviction remains the guiding principle for the further development of Business Consulting.”
2025 in a nutshell:
“2025 was the year in which Moore Belgium definitively positioned itself as a fully-fledged Accounting & Advisory firm.”
Looking ahead:
“2026 will be the year in which Moore Advisory truly begins to operate as a single entity. One voice to the client, one team across all areas of expertise. With that focus, we will continue to build scale, clout and impact.”
Business Analytics in 2025
“AI: beyond promise, towards reality.”
AI is coming of age, and its impact is becoming tangible
For element61, 2025 was the year artificial intelligence truly came of age.
What once began as an experiment grew into a structural component of data and analytics platforms. element61 increasingly guided organisations in making well-considered, scalable Analytics & AI choices. Choices that align with their ambitions and create a lasting impact.
Turning data into business impact
element61, the Analytics & AI division of Moore, is one of Belgium’s leading specialist consultancy firms in data, analytics and artificial intelligence. With a team of over 140 experts combining strong technological and business expertise, element61 helps organisations turn data into tangible business impact.
The focus is on aligning, designing, building and evolving data and AI platforms. Larger mid-market and enterprise organisations in particular find in element61 a strategic partner for complex issues relating to data, technology and decision-making.
Centre of Excellence within Moore
Within Moore, element61 fulfils a clear role as a centre of expertise and innovation hub for Analytics & AI. For larger enterprise clients, the team often works autonomously, while it is increasingly deployed in a complementary role within the broader Moore ambition to empower mid-market clients with data-driven insights.
Its distinctive strength lies in the project-based acceleration model. By combining in-depth expertise with co-creation and coaching, clients not only receive solutions, but also become stronger in using data as a strategic asset.
A year of internal strengthening
In addition to the rapid evolution among clients, 2025 was also an important year internally. There was a strong focus on leadership, governance and future-proofing the organisation.
After 18 years, Managing Director and co-founder Stijn Vermeulen handed over the reins to the existing management team. A deliberate and supported transition, that ensures continuity while creating space for the next phase of growth. The entire element61 team expresses its sincere gratitude for the vision, the entrepreneurship and the foundation that Stijn has laid.
Embedding AI structurally
A key achievement in 2025 was the further expansion of AI activities towards an integrated AI Factory approach. This enables organisations to manage AI end-to-end: from data platform and governance to development, roll-out and adoption.
In this way, AI is no longer used on an ad hoc basis, but embedded in the organisation in a sustainable and scalable way. A necessary step to effectively translate the promise of AI into lasting value.
United by a culture of learning
What particularly characterises element61 is the way the team deals with change. Across the various competence centres, new technologies are embraced, knowledge is shared and colleagues are inspired.
This learning culture is deeply embedded in element61’s DNA and serves as a key lever to remain relevant in a rapidly evolving Analytics & AI landscape.
At a glance
By 2025, more than 20% of element61’s revenue and capacity was directly related to (Gen)AI initiatives. Whereas AI was still a fast-growing niche in 2024, by 2025 it had become a core component of our service offering, delivering scale, repeatability and strategic relevance for clients.
On the record: Steven Decerf
Partner Business Analytics
What 2025 taught us:
“Technology alone is not enough. Successful Analytics & AI journeys require clear governance, mature data practices, strong leadership and an organisation that continues to learn. These insights apply not only at project level, but also to the continued develop-ment of element61 itself.”
2025 in a nutshell:
“2025 marked the shift from AI as a promise to AI as a reality.”
Looking ahead:
“In 2026, element61 will continue to build on its position as the market leader in Analytics & AI in Belgium. The focus will be on strengthening AI-driven data solutions, increasing data platform maturity among clients and further growth through a well-considered build-and-buy strategy, potentially extending beyond national borders.
With a leadership team that balances continuity, innovation and growth, element61 is ready for the next phase.”
Corporate Finance in 2025
“Navigating change, building continuity.”
Where every decision makes a difference
Moore Corporate Finance operates at the intersection of entrepreneurship and transformation.
At the moments that matter: an acquisition or transfer, raising capital, a change in shareholding. For SMEs and medium-sized enterprises, family-owned or with external capital, locally and internationally.
What makes Moore Corporate Finance unique is the combination of Moore Belgium’s broad reach and the focus and dynamism of a small, highly specialised deal-making team. Success is not an abstract concept, but a concrete result. Business continuity is the underlying driving force.
Working in the eye of the storm
Corporate finance, by definition, operates in turbulent contexts. Companies undergoing transformation, markets in flux, decisions with major impact.
2025 was another such year. Geopolitical shifts, economic uncertainty and tensions between regulation and industrial reality reshaped the business landscape. Moore Corporate Finance adapted to changing circumstances, alert and agile, without losing direction.
Connection as a foundation
The key moments when Moore Corporate Finance is called upon always require a multidisciplinary approach. Each case is supported by teams that collaborate internally with experts from Tax & Legal, Moore Law, Consulting, Accountancy and Audit, and externally with bankers, investors and other advisers within the M&A community.
Connection is no coincidence, but a conscious choice. The sustainability of every solution depends on the many hands that contribute to it.
Every deal counts
In 2025, we supported more than a hundred transactions and projects. Every deal was unique and had a decisive impact on the lives of entrepreneurs, employees and organisations.
That is why none are singled out. The real achievement is the whole: a team that is there, time and time again. In In both turbulent and more stable times.
Sharing knowledge with the market
In addition to transactions, Moore Corporate Finance also continued to build on knowledge sharing within the wider M&A community. A special moment in 2025 was the first launch of the Vlerick M&A Monitor, with active involvement from Moore Corporate Finance.
The research, a benchmark in the industry, provides insight into the evolution of the Belgian M&A market and acquisition prices. Together with the Moore GCF Mid-market Cross-border M&A Compass, it forms a valuable complement to practical experience in the field. A recognition the team is rightly proud of.
Impact with lasting consequences
It is difficult to make the impact of Corporate Finance more abstract than necessary. A company securing financing to safeguard its future. A new shareholder investing in growth. A shareholder dispute being defused, giving the organisation breathing space once again.
These are the moments when guidance makes all the difference. The many testimonials and case studies shared by the team speak for themselves.
At a glance
100
More than 100 completed projects in 2025:
- 38 acquisitions
- 36 due diligence assignments and
- 30 projects relating to financing, shareholder advice and valuation.
The figure symbolises completeness and maturity. The circle is complete. The service is 360°. Moore Corporate Finance is firmly established in the market, underpinned by trust, expertise and a strong team culture.
On the record: Philippe Craninx
Managing Partner Corporate Finance (2025)
What 2025 taught us:
“2025 also signalled a transition. In 2026, the current Managing Partner will pass the torch to Wannes Gheysen. A logical and well-supported moment after nearly forty years of advising and supporting entrepreneurs, families and investors.
Hypes come and go, technology changes the playing field, but the core remains the same: working with and for people. Driven by values, craftsmanship and shared responsibility.”
2025 in a nutshell:
“Despite the turbulence, we stand stronger than ever, ready to support those we can. Entrepreneurs, just like you.”
Looking ahead:
“2026 will be a year of continuity and renewal. The foundations will remain, but the details will evolve. With confidence in the team, in the leadership and in the strength of the collective.
Moore Corporate Finance is here to stay. And will continue to contribute, within Moore Belgium and beyond, to entrepreneurship that looks to the future.”
Grants & Incentives in 2025
“Turning ambition into real impact.”
From subsidy to strategic lever
2025 was a year of consolidation and strengthening for Moore Grants & Incentives.
Building on a strong track record, the focus was on further developing expertise, strengthening client relationships and refining our services relating to European grants. In a rapidly evolving grant landscape, one goal remained central: enabling innovation by making complex funding accessible.
Where innovation and funding meet
Moore Grants & Incentives works with innovative organisations to turn ambition into impact. The multidisciplinary team combines technological expertise with in-depth knowledge of regional, national and European grant programmes and tax incentives.
From identifying opportunities to submitting and managing funded projects, clients are guided through the entire process. Non-dilutive financing becomes a strategic tool to accelerate innovation, competitiveness and sustainability.
More than just grants
Moore Grants & Incentives’ approach goes beyond drafting applications. Teams navigate complex programmes, coordinate collaborations between partners and critically challenge technical and financial assumptions.
This strategic role ensures that funding is not merely an end in itself, but becomes a lever for structural growth. With strong expertise in Data Science & Smart Tech, Advanced Materials & Manufacturing and Life Sciences & Health, the team supports organisations in sectors where innovation makes the difference.
Connected across borders
In 2025, we continued to build on our international collaboration. Moore Grants & Incentives worked closely with colleagues in the United Kingdom and the Netherlands and forged new links with Moore and AUREN teams in Ireland and Spain.
These international relationships are key building blocks for the further roll-out of the EU Grants & Incentives platform. They open up new possibilities for cross-border projects and create additional opportunities for both clients and teams.
Working smarter, with a focus on quality
A key achievement in 2025 was the embedding of the 3S5C quality standard into every phase of the collaboration. In addition, GenAI was integrated where it offers real added value.
This combination of quality control and smart technology goes beyond efficiency. It creates new ways of working and makes it possible to support clients in an even more targeted and proactive manner.
Proud of our people and initial successes
What made 2025 particularly valuable was the enthusiasm of new team members. The team saw how they helped shape their first innovative projects and celebrated their first approved dossiers.
That pride and drive to make a real impact serves as a reminder of why this work truly matters and why the team tackles each day with such energy.
Impact that makes a difference
The impact of Moore Grants & Incentives lies in strengthening ideas. By thinking strategically, clarifying complex projects and asking critical questions, proposals become stronger and ambitions sharper.
For example, in 2025, we supported a start-up developing an AI-driven software platform for automated processes. By collaborating on the project’s positioning, the application was strengthened, leading to a successful grant award, accelerated development plans and recognition from the expert assessor for the innovative approach.
At a glance
Moore Grants & Incentives has a multidisciplinary team of 30 specialists. In 2025, this expertise was further strengthened with the addition of four PhD scientists and engineers and the appointment of a Director of Sales to further support growth and client relationships.
On the record: Sonja Vancrayenest & Kelly-Jayne Aylward
Business Unit Leaders Grants & Incentives
What 2025 taught us:
“The grant landscape is evolving rapidly under the influence of geopolitical shifts, eco-nomic uncertainty and societal challenges such as the energy transition and technologi-cal sovereignty.
Staying ahead means anticipating change and translating them into concrete opportunities. Moore Grants & Incentives therefore continues to invest in knowledge, insight and strategic agility.”
2025 in a nutshell:
“Sustainable success arises where strong connections, trust and expertise come together.”
Looking ahead:
“In 2026, the focus will be on consolidating what works well and further deepening collaborations. By scaling up with confidence and strengthening partnerships, Moore Grants & Incentives aims to create even more value for clients, both locally and internationally, and further strengthen its role within the innovation ecosystem.”
Financial Consultants in 2025
“Adapting to a complex financial landscape.”
From temporary expertise to long-term value
2025 was a year of transition and repositioning for Moore Financial Consultants.
In a challenging and competitive market, the business unit evolved from reactive to clearly proactive. The focus was on structure, visibility and preparing for the future, with a clear end goal: a strong, recognisable and integrated offering in the market.
Temporary support with a lasting impact
Moore Financial Consultants supports organisations within their finance departments, providing temporary expertise at the intersection of controlling, finance management and project management. The ability to adapt quickly and think pragmatically is central to this.
What sets the team apart is the combination of an entrepreneurial, no-nonsense approach with a strong focus on the quality of the match. The close link with Moore Belgium builds trust with both clients and consultants, and provides clear added value in a tight labour market.
From interim management to a clear structure
2025 was all about introducing greater structure and visibility. With the arrival of a new Business Manager, a conscious decision was made to invest in strengthening the back office and developing organisational and commercial processes.
At the same time, greater emphasis was placed on internal and external visibility. Moore Financial Consultants became more active within the Moore community and more prominent on social media, which contributed to a clearer positioning.
Sustainable relationships, on both sides
Collaboration with clients remained a key pillar in 2025. Various organisations have engaged Moore Financial Consultants on a regular basis for several years, often with multiple consultants at the same time. These long-term partnerships underscore the trust in the approach and the quality of the profiles.
In addition, there was a strong focus on connecting with the network of freelance finance professionals. This relationship is key to deploying the right expertise quickly and effectively.
An achievement that made the difference
One project that stood out in 2025 was the successful completion of all internal audit action points for one of our key clients, fully within the set deadlines and using a dedicated Moore team. Given the scope, this was exceptional and marked a significant step in the further maturation of the client’s finance organisation.
Confidence in what lies ahead
There was great satisfaction from the first joint start-up activities under the banner of Moore Financial Consultants, born from the merger of Interim Management and FAAS. This collaboration not only proved logical, but also instilled confidence in the future and in the potential of the new business unit.
Impact on people
The impact of Moore Financial Consultants extends beyond projects. Consultants are actively supported, not only in their assignments but also in their personal and professional development. In 2025, several consultants used this support to chart a new course for their careers.
At a glance
In 2025, a 100% retention rate was achieved among payroll-based consultants. A strong sign of satisfaction and commitment, particularly in a market where financial professionals are in short supply.
On the record: Peter Van Oevelen & Raf Uyttenbroeck
Managing Partners Financial Consultants
What 2025 taught us:
“Economic uncertainty and increased competition call for pragmatic opportunism. By continuing to adapt quickly whilst remaining focused on matching and quality, Moore Financial Consultants remains relevant and agile in a challenging market.”
2025 in a nutshell
“In a difficult market, Moore Financial Consultants stayed the course, met its targets and, at the same time, laid the foundations for a strong new future.”
Looking forward:
“In 2026, we will continue to build on the roll-out of Moore Financial Consultants as a fully-fledged business unit. The strengths of FAAS and Interim Management will be brought together in an integrated offering, with a focus on talent development, commercial acumen and operational efficiency.”
Tax & Legal in 2025
“Practical advice that drives decisions.”
Targeted efforts to strengthen advisory services
For Tax & Legal Services, 2025 was a year of deliberate choices.
No major leaps through acquisitions, but targeted, organic growth. The focus was on strengthening talent, processes and collaboration, with a clear ambition: to support entrepreneurs faster and better at crucial turning points.
A single ecosystem centred on the entrepreneur
Within Moore, Tax & Legal Services forms an integrated ecosystem built around a single promise: practical and actionable advice that accelerates decision-making. Across five areas of expertise, including Business & International Tax, Business Legal, VAT, HR Legal and Global Mobility, teams work closely together, in constant coordination with Moore Law.
Entrepreneurs, scale-ups and (international) groups are supported through growth, restructuring, internationalisation and transactions. Clients benefit from a single point of contact who coordinates tax, legal and social aspects. This ensures the solution is sound not only in substance but also in execution. In addition, Tax & Legal remains a reliable partner for tax and legal compliance, often working in close collaboration with other service lines within Moore.
Growth with focus
2025 was a year of consolidation. Instead of acquisitions, a conscious decision was made to focus on strengthening internal operations, collaboration and engagement. The establishment of Steercos fostered greater ownership and focus within the teams.
At the same time, the first step was taken towards a more structured business development approach. This initiative will be developed further in 2026, with the aim of building sustainable client relationships and further increasing the visibility of our services both internally and externally.
Connected, even across borders
Tax & Legal Services is, by definition, connected to other service lines and business units within Moore. A new development in 2025 was stronger collaboration with international offices within the Waterland and Moore Global network.
This international collaboration opens up new perspectives, enriches our services and adds an extra dimension to complex cases involving cross-border issues.
Building the future of the profession
A key achievement in 2025 was taking the first steps into artificial intelligence. Within Tax & Legal, significant efforts were made to develop of an internal chatbot, with the aim of further supporting our services and internal operations in the future.
This process quickly showed that AI is not a plug-and-play solution. It requires in-depth analysis, critical reflection and thoughtful implementation. At the same time, new services were launched, such as legal as a service, and the integrated due diligence approach was further strengthened. Tax, legal and social risks are now analysed in a single workflow and translated into clear contractual agreements, enabling transactions to proceed more smoothly and with greater ease.
Energy despite headwinds
What the team is particularly proud of is the enduring energy and commitment of its staff. 2025 was no easy year: there were absences due to illness, hard-to-fill vacancies and a challenging budgetary framework.
Yet enthusiasm remained high. Colleagues stood by one another and continued to dedicate themselves to clients and the team day after day. That collective resilience was not only rewarding but also strengthened the sense of community.
An impact that can be felt
The impact of Tax & Legal Services is evident not only for clients, but also internally. Based on feedback from new recruits, the onboarding process has been made noticeably more practical and efficient. Information is delivered in more manageable doses, IT access is granted more quickly, and specific onboarding checklists provide greater clarity.
The result is tangible: new colleagues feel settled in more quickly and can contribute productively sooner.
At a glance
As a knowledge platform and content provider, Tax & Legal Services is a key driver in building Moore’s brand awareness and reputation in the Belgian market.
On the record: An Lettens
Managing Partner Tax & Legal
What 2025 taught us:
“Growth is a team sport. The greatest lever lies in frictionless collaboration: less hando-ver loss between disciplines, earlier involvement of the right expertise, and clear pro-cesses that support collaboration.
Tax & Legal therefore remains firmly committed to organic growth, with a focus on tal-ent, the right tools and, above all, plenty of enthusiasm.”
2025 in a nutshell:
“For Tax & Legal Services, 2025 was characterised by targeted growth, new tools and a strong recovery following a challenging start.”
Looking ahead:
“In 2026, Tax & Legal Services will continue to build on three clear pillars. The SPOC client model will be rolled out further, our presence in the French-speaking market strengthened, and investment in tools and systems continued. This combination should enable the team to respond more quickly and flexibly, even during peak periods.”
Moore Law in 2025
“Growing without losing sight of who you are.”
Growth that connects and strengthens
2025 was no ordinary year for Moore Law Belgium.
With several acquisitions, nearly 90 new associates and a reorganisation of structures and governance, the organisation underwent a major transformation. It was an intense year, full of change and momentum, but also a year in which we consciously built something lasting: a single shared way of working, with respect for expertise, culture and people.
One firm, many areas of expertise
Moore Law Belgium is a law firm serving businesses, entrepreneurs and private individuals, with offices in Brussels, Kortrijk, Antwerp, Ghent and Genk. More than 150 associates combine their expertise in areas including Corporate M&A, corporate law, tax, private client services, restructuring, HR Legal, property and environmental law, insolvency and debt recovery.
What sets Moore Law apart is its distinctly multidisciplinary approach. Legal expertise never stands alone, but is consistently reinforced by close collaboration with the other service lines within Moore Belgium. This cross-pollination ensures that clients receive guidance that is not only legally sound, but also practical and forward-looking.
A year that set everything in motion
2025 was the first full year following the acquisition of Ockier Advocaten, PAQT Advocaten and Essenzia. In a short period of time, nearly 90 new colleagues joined the team. This required more than scaling up.
Integration became the keyword. New areas of expertise were deepened, processes and systems were aligned, and the governance structure was redesigned. This did not happen overnight. It required time, consultation and commitment, from West Flanders to Limburg. But it was precisely through this intensity that the foundations were laid for sustainable growth in the years to come.
Connection in action
Collaboration remained a central theme in 2025. Within Moore Belgium, Moore Law worked closely with the other service lines, including Accountancy, Audit, Corporate Finance and Tax & Legal. This close coordination broadens the range of services and enhances regional proximity for clients.
Internally, too, there was a strong focus on connection. New teams found common ground through knowledge-sharing, strategic consultations, technical meetings and informal initiatives. This blend of substance and humanity proved essential. Furthermore, Moore Law continued to actively build international collaboration as a co-founder of Moore Legal Services, with a clear ambition to further strengthen the connection between Moore offices worldwide.
A structure that fosters expertise
One of the key achievements of 2025 was the roll-out of a renewed governance structure. The number of Expert Centres within Moore Law was expanded, with a dual objective.
On the one hand, to support clients even more broadly and in greater depth. On the other hand, to allow companions to focus on the areas that energise them and to develop further in those fields. This combination of specialisation and collaboration not only enhances the quality of service, but also job satisfaction and expertise within the firm.
Culture remains the common thread
What Moore Law Belgium is perhaps most proud of is the way in which its own DNA and unique culture have become embedded within a rapidly growing organisation. Growth inevitably brings change, but the agility and constructive attitude of all companions made it possible to transform that change into connection.
Today, this translates into smooth multidisciplinary collaboration, across teams and service lines. Companions with different specialisms find each other faster than ever and bring everything together for the client. That connection has also been strengthened outside of cases, including during joint team events such as the skiing trip with Tax & Legal Services.
Impact that goes beyond cases
The impact of Moore Law Belgium is tangible every day in concrete cases. Whether it’s a victory in court, a negotiated resolution to a dispute, tax and legal peace of mind, family wealth planning, a restructuring or a successful M&A transaction: the driving force remains the same.
To take the burden off clients in the best possible way, with clear advice and well-thought-out solutions. The appreciation received, a message, a word of thanks or a small token of appreciation, provides energy and confirms why this work is done. The strong growth of recent years is a visible result of this.
At a glance
By the end of 2025, Moore Law Belgium had 120 lawyers and more than 30 staff members.
On the record: Jo Roseleth
CEO Moore Law
What 2025 taught us:
“2025 made it clear that change requires time, focus and perseverance. Listening and open communication proved to be more than mere prerequisites, but essential levers. The fact that Moore Law Belgium succeeded in this as a group represents a significant achievement and a solid foundation on which to build further.”
2025 in a nutshell
“2025 proved that growth and culture need not be at odds with one another, if you build them together.”
Looking ahead:
“In 2026, the focus will be on further integration, including the transition to a single legal software package. In addition, Moore Law remains committed to even stronger collabo-ration both within and outside its own teams. Building on a shared DNA, whilst recognising individual ambitions, we will continue to foster a strong sense of unity within the group.”
Moore Group Services in 2025
“The driving force behind a strong, scalable Moore”
The quiet force behind sustainable growth
For Moore Group Services, 2025 was a year of building behind the scenes.
Not always visible, but all the more impactful. Whilst Moore Belgium continued to grow and evolve, MGS ensured structure, cohesion and stability. With a clear focus on quality, efficiency and cost control, the team supported all business units and offices, allowing them to focus fully on their clients.
One team, one integrated service
Moore Group Services is Moore Belgium’s shared service centre and supports the organisation across Finance, HR, IT, Facilities, Fleet, Marketing, Communications, Legal, Risk & Compliance, Procurement, Integrations and PMO.
What sets MGS apart is its end-to-end approach. Services and processes are designed not only to provide support, but also to create clarity and ensure consistency. In this way, MGS plays an essential role in enabling the growth and strategy of all Moore entities.
Structure in a year of change
2025 was characterised by structural process improvement, further integrations and digitalisation. At the same time, significant efforts were made to recruit scarce talent, revamp the brand positioning and website, and further embed project management and ownership within the organisation.
All of this was achieved with a strong focus on cost control. MGS succeeded in supporting the entire organisation and closing the year within the agreed budget. In parallel, important projects were already launched that will take further shape in 2026. The synergy management model also provided a new and balanced governance framework for collaboration with the business.
Collaboration as an accelerator
In 2025, Moore Group Services worked closely with all business units, the ExCom, local offices and project leaders. Externally, there was close collaboration with strategic partners in areas including ERP, cloud, security and facilities, as well as with auditors and compliance partners.
What worked particularly well was strong internal governance. Regular consultation meetings, thorough communication and joint roadmaps ensured clarity, ownership and steady progress, even in a context of constant change.
Three achievements that made the difference
In 2025, MGS delivered several projects with a lasting impact on the operations of Moore Belgium.
With the roll-out of P2P in AFAS, the organisation evolved from fragmented, manual procurement processes to a single digital and integrated purchase-to-pay chain. This increased transparency, accelerated approvals and laid a solid foundation for compliance, scalability and cost control.
The implementation of Vena Budget & Merit represented a major step forward in budgeting, forecasting and merit processes. Thanks to centralised data and standardised workflows, Finance, HR and business leaders now have a single source of truth, enabling faster and more accurate decision-making.
In addition, the House of Noble Purpose was updated in line with the ambition for 2030. A new leadership model, built around Connection, Exploration, Trust and Responsibility, will serve as a clear compass for the further development of Moore Belgium from 2026 onwards.
Proud of maturity and ownership
What MGS is particularly proud of is the maturity the team has achieved in 2025. There was strong collaboration across departments, responsibility was embraced and complex improvement projects were successfully completed, without compromising day-to-day continuity.
This combination of professionalism and commitment makes MGS a stable backbone of the organisation.
Impact on people and the organisation
The impact of MGS projects is clearly felt. Two initiatives in particular stand out.
Thanks to the new employer value proposition “Working at Moore, that’s business as unusual” and the brand positioning “Moore, Entrepreneurs just like you”, we have not only attracted new employees, but also reminded clients and stakeholders of what Moore stands for.
In addition, the implementation of Vena has led to greater predictability, clarity and a reduced administrative burden within Finance and Human Capital. Teams now experience greater peace of mind and control in their planning processes.
At a glance
In 2025, Moore Group Services supported the entire organisation and closed the year within the agreed budget, with a clear focus on cost-conscious and responsible management.
On the record: Tony Langone
Managing Partner Group Operations
What 2025 taught us:
“Smarter organisation leads to better quality, a stronger service experience and greater satisfaction among colleagues. By consistently working from a Lean perspective, minimising waste and maximising value, we not only increase efficiency but also the impact of our services.”
2025 in a nutshell:
“2025 was the year in which Moore Group Services structurally strengthened the organisation in terms of quality, digitalisation and cost control.”
Looking ahead:
“The priorities for 2026 are clear. Moore Group Services remains committed to end-to-end process optimisation, further quality improvement through predictability and SLAs, and technology as a driver of growth, efficiency and risk management.”
03 | Connected by growth
Growth isn’t just the sum of numbers; it’s the result of deliberate choices. Choices to connect, strengthen, and think ahead. At Moore, we’re building an organization that isn’t just growing in size, but also becoming smarter, stronger, and better prepared for the future.
This is reflected in how we approach integrations and use technology as an accelerator—not as an end in itself, but as a lever to improve our operations, strengthen collaboration, and provide even more targeted support to our customers. Discover how these two building blocks guide our growth.
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Connected by growth
Integrations drive growth
Moore Belgium’s ambition remains to grow through acquisitions as well. But with a renewed approach. No longer accelerated growth. Strategic growth…
“And yet our strategy has changed significantly,” says Director of the Group Office, Mieke Van Aerde. “We’ve moved from accelerated growth to strategic growth.” In other words: it’s not about growing as quickly as possible, but about growing in the right regions or within specific service lines.
Focus on Advisory
According to Mieke, by 2025 this will very specifically involve a greater focus on Wallonia and Brussels and on consulting activities. The acquisition of DNA33 is arguably the best example of this (see also box). This is a group comprising five consultancy firms, ngage, asUgo, darwind, Squareflow and NetCircular, and employing more than two hundred consultants. The focus is on digital transformation, process optimisation, sustainability and CRM/ERP implementations. Together, they generate a turnover of 27.5 million euros.
“With this acquisition, we have significantly strengthened our consultancy business,” confirms Mieke. “For this division, this was a real turning point. It changes how the market views us. Previously, we were seen as a group specialising in accountancy, tax and audit. Today, consultancy in the areas of digitalisation, technology and transformation is also an integral part of our expertise. It ensures we can cover the entire customer journey for businesses: from start-up to all the implications that growth brings: tax, staffing, HR, … But we still do so drawing on our strengths and through personal contact.” It is no coincidence, then, that the Consulting department was renamed Advisory.
9 out of 11 acquisitions in Wallonia
According to Mieke, this example perfectly illustrates what strategic growth entails. “We have now defined clear Service Lines, ‘Audit & Assurance’, ‘Finance & Accounting’, ‘Tax & Legal’, ‘Advisory’ and ‘Moore Business Analytics’, around which we structure our offering. We want to ensure that each of the Service Lines carries sufficient weight, and we therefore focus our acquisitions on the gaps that still exist.”
This resulted in 11 acquisitions in 2025, accounting for a total of 24 companies. By way of comparison, there were 15 acquisitions in 2024. Furthermore, 9 of the 11 acquisitions involved companies south of the language border.
Looking for two fits
Despite the shift in the type of growth, the criteria Moore Belgium looks for in a future partner remain the same. “There has to be a strategic and cultural fit,” says Mieke. “The strategic fit is based on how we view the market, market developments and the future of our industry. With culture, it’s a matter of feeling, either it’s there or it isn’t. It either clicks or it doesn’t. We a , base our approach on our values (entrepreneurial spirit, knowledge sharing, an open feedback culture, a drive for innovation) and gauge how candidates feel about these. So we are always looking for a good professional fit (how we view the business we want to develop together) and a personal fit (how we treat our greatest asset, our people). To be clear: our gut feeling is crucial. It has rarely let us down so far. “Both fits are crucial, because otherwise there can never be a successful integration following the acquisition.
Relief and investment
When the fit is right, Moore Belgium can offer interested parties two things. Firstly, there is the relief of administrative, financial and HR tasks. These are often tasks that the entrepreneur takes on in the evenings or at weekends. In a larger company, things are different; there, these tasks are managed centrally. Mieke: “When you talk to large companies, the aspect of taking the burden off their shoulders becomes less important. They often already have a shared services centre, where they bundle the administration of various departments or entities.”
Secondly, there is the matter of bearing the costs of technology and other investments. These are often more difficult for smaller companies in the sector to estimate, or (too) burdensome for a smaller entity to bear. The struggle to find the right profiles on the labour market also offers better prospects when viewed from the perspective of a large(r) player like Moore.
Group Office
To smoothly manage both organic and inorganic growth and to optimally deliver on the promises made to integrated companies, Moore Belgium established a Group Office in 2025. Mieke heads this Group Office. “We felt we needed even more structure in our development. That is why, within our Group Office, we have combined integration management with our process office, internal communication and change, and a PMO function. This stands for Programme and Project Management Office and centralises our approach to project management. To be clear: there was a certain degree of structure in this area, but it stemmed solely from the enthusiasm of our staff. Now we have a clear framework to work within.”
It ensures that Moore Belgium continues to professionalise, but according to Mieke, “it is still the same company”. “That is what I am most proud of,” she says. “Thanks to our shared values, you can see that our clients are increasingly looking to us for solutions. That is the epitome of our evolution. And you should never take that for granted.”
The integration process begins even before the acquisition
An acquisition is followed by the integration process. This consists of two main tracks, which run simultaneously. On the one hand, the office is linked to Moore Group Services (HR, Finance, Digital Services, Communications, Marketing and Legal), and on the other hand, a process begins to establish collaboration with the Service Line or Business Unit.
Mieke Van Aerde: “From the start of the integration process, we connect both worlds through open consultation, with a clear roadmap that is planned but with respect for both sides of the table. Incidentally, these tracks are not only initiated after the acquisition. We believe it is crucial to ‘kick-start’ the integration to some extent during the acquisition process. At the end of the due diligence process, we always join the so-called expert session from an integration perspective, where we get to know the new colleagues joining Moore for the first time . This allows us to understand the firm’s initial approach, get a feel for its culture, and identify the key areas we will need to focus on during the integration process.”
Some of our integrations
“In less than six months, new business was already coming in through the group”
“Actually, we weren’t looking for a buyer at all. Two factors led us to enter into discussions: the strategic complementarity and the human fit. We consider the latter to be absolutely crucial.”
Speaking is Christophe Haulet. He was one of the partners at DNA 33, which joined forces with Moore Belgium in July 2025. This followed just under a year of discussions and due diligence.
After less than a year within the Moore family, mixed feelings prevail: “On the one hand, I feel a sense of calm. The human fit and the entrepreneurial spirit have now been confirmed. On the other hand, I feel a sense of excitement. There are still plenty of opportunities. We really feel a sense of momentum, especially now that ‘Advisory’ has been launched as a new Service Line.”
Christophe adds that the first cross-selling within the group took place in less than six months. He also sees opportunities in the European story that Moore is writing. A number of the companies in DNA 33, including asUgo, are tech firms that stand to benefit from European scale.
Would Christophe recommend other entrepreneurs to join Moore Belgium? “It all depends on the maturity of your business and what you’re looking for,” he says. “But if you’re looking for an entrepreneurial and people-focused approach, you’ve definitely come to the right place.”
Most people recognise the need for integration. But you really have to believe in it.”
It has now been three years since ODB became the very first French-speaking company to join Moore Belgium. Meanwhile, the then- , CEO of , Olivier Bottequin, is not only Managing Partner of Accountancy Sud, but is also responsible for acquisitions and integrations within this department. In short, the ideal person to look back on such a journey…
“Nobody talks about ODB anymore, and I think that’s the greatest compliment we could receive,” is his surprising answer to the question of how he looks back on the past period. “Both clients and staff were convinced of Moore’s DNA and values in record time. And that despite the fact that some had spent as long as 10 years at the previous firm.”
For clients, Olivier sees the broad range of experts as the greatest asset of an integration; for employees, there are more opportunities: to share knowledge, to build a career, to receive training, … “The initial hesitation tends to disappear quite quickly among this latter group.”
In his role as integration manager, he observes that potential partners are quickly convinced of the need to join forces. Technical and legal challenges, but also a lack of follow-through, can sometimes pose obstacles. “Actually taking that step once you’ve realised this isn’t straightforward,” concludes Olivier. “You really have to believe in it. If you do, you’ll gain a lot of shared interests and job satisfaction with colleagues in return.”
03
Connected by growth
Technology as an accelerator
“By 2025, technology will have evolved into more than just a supporting force within Moore,” says CIO Joeri Bossuyt. “Today, it is a strategic core component that helps us realise our ambitions for efficiency, quality and growth.”
Of course, it is nothing new that the teams within Moore Belgium use a wide range of tools and systems to enhance their operations. Technology has long proven its worth, both in optimising internal processes and in taking our service delivery to the next level. However, 2025 was the year of acceleration. “Our three-year digital plan has now been launched, with a number of impressive achievements already already achieved, and the outlines of an AI roadmap and a new governance framework are now in place.”
Modern Data Platform
Laying the digital foundations first, and only then tackling AI structurally: a clear choice, which was no coincidence. “Within a growing company that regularly welcomes new entities, a solid foundation is crucial. If you try to embed AI tools in a structure built on quicksand, you simply miss out on their added value.”
Moore Belgium’s digital roadmap focuses on a platform strategy and uniformity across entities, rather than a patchwork of systems and processes. A key element of this was the project of the year: the development of a Modern Data Platform. “That project forms our technological hub. Data from all master systems converges in one place, creating a single central source of truth. It also provides reliable reporting and a solid foundation for advanced AI integrations.”
As a starting point for other (AI) applications, this data platform enhances not only internal operations but also the services provided. “High-quality analyses and predictions enable our advisers to support clients even more effectively. Proactive advice becomes an integral part of our offering.”
A good start to the three-year plan: digitisation of core processes
- Modern Data Platform: the data backbone
- Peppol integration: standardised invoicing flows, greater automation
- Procure-to-pay: end-to-end process digitisation, faster turnaround times
- New budget tool: improved financial planning and business control
- IT Service Management/Enterprise Service Management (phase 1): greater transparency in tickets, improved scalability and faster resolution
- Human Resources Information System (exploratory phase & requests for quotation)
- Customer Relationship Management (exploratory phase & requests for quotation)
- Professional Services Automation (exploratory phase & requests for quotation)
element61, an integral part of Moore Belgium, provided support in developing the data platform, the budget tool and the various AI projects.
Performing while transforming
At the same time, the teams did not lose sight of the day-to-day operational challenges and worked diligently to ensure the smooth technical integration of the new entities.
AI: what’s next?
A clear framework creates a breeding ground for innovation, as became clear at Moore in 2025. A new technology such as AI requires the necessary experimentation, and there is certainly scope for that. “From an IT perspective, we provide the teams with a number of tools they can use with confidence. In terms of security and privacy, these are fully up to standard. But beyond that, everyone has the freedom to suggest potentially useful tools themselves. We are then notified, after which we verify that security and data management meet the highest standards.”
Meanwhile, Joeri and his colleagues keep a close eye on a landscape that is changing rapidly. “Some new tools become redundant after a few months because a competitor launches a better product or a major player integrates the feature into an existing package. Making the right, future-proof choices in this regard is a constant challenge.” The same applies to the data platform, incidentally. “Whilst we support the business units to facilitate its adoption, it remains essential to continuously connect new sources and adjust the reporting. Technology never stands still.”
Whilst the focus is currently still on increasing personal productivity, it is not inconceivable that technologies such as agentic AI will soon also play a role in operational flows. “AI that doesn’t just assist, but takes effective action: thanks to our approach and framework, we can move in that direction in the near future.” And more generally, the CIO’s predictions are positive. “Moore is gradually evolving into an organisation where technology is not merely a driving force, but an accelerator that will help us move from good to great.”
Joeri Bossuyt
CIO
04 | Connected by our DNA
Our growth begins and ends with the people and organizations around us. Employees who make a difference every day. Clients who do business with ambition and rely on sharp, actionable insights. Shareholders who help build sustainable value. And a society in which we consciously fulfill our role. Four stakeholders, one reality: everything we do must make sense for everyone connected to us.
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Connected by our DNA
“Business as unusual—not just a slogan, but a promise”
“A company cannot grow without its employees growing as well. That is why 2025 was focused on professionalizing the organization. “Even in a field like HR, you have to work based on evidence.”
Moore Belgium’s growth in 2025 was also accompanied by an increase in the number of employees by around 400 to 2,225 people. This naturally includes the staff of the integrated offices and companies.
Just as in other areas, this increase is not expected to stop. This meant that our HR team also launched the necessary innovative projects in 2025 to ensure continued growth and the realisation of our business ambitions in the future.
“The most significant development in this area is undoubtedly our new EVP, our employee value proposition. This is the promise you aim to make to your future employees. On the one hand, it amounts to a clear description of the total package of values, culture, terms and conditions, and development opportunities. At the same time, it is more than that. It is an implicit promise you make. We changed our EVP from ‘Company of Companions’ to ‘Business as unusual’. That is precisely what working here is like: just a little different, fresher, more authentic and more entrepreneurial than elsewhere. That is our identity.”
Speaking is Mireille Coudron, Chief Human Capital Officer. “2025 was the year in which we launched new strategic initiatives and began to define certain things more clearly,” she says on this subject. “Our EVP too.”
Leadership skills defined
But it was certainly not just the EVP that was refined. “If you want to establish a good corporate culture, it’s important to define it properly,” says Mireille. “Thanks to our House of Noble Purpose, our compass, that was already in place, but we realised it wasn’t yet 100% clear what we expected from leaders within our team. That’s why, in 2025, we also closely reviewed leadership skills. We did this in consultation with around 80 employees, and based on scientific research. Even in a field like HR, you have to work in an evidence-based way. We then added the leadership skills to our House of Noble Purpose and will be actively working on them from 2026 onwards.”
Leaders as connectors between employees and the organisation
Looking back on the work carried out in 2025, Mireille believes that leadership competencies are also a form of connection. “Our management literally forms the link between employees and the organisation. They must convey what the organisation aims to convey.”
She adds that Moore Belgium also introduced an induction day for new equity partners for the same reason. “For us, it is an opportunity, following an acquisition, to put our corporate culture and values into practice and convey them to our new partners. This enables them to translate these cultural elements within their own teams.”
Great Place to Work
In early 2025, Moore Belgium took third place in the Great Workplaces ranking, in the ‘very large companies’ category. The ranking is an initiative of the well-known Great Place to Work label.
“That is a real milestone for Moore Belgium,” says Mireille. “By translating our values into a people-centred policy, we create an inclusive working environment. With a culture of enthusiasm and optimism, we are building a future-proof organisation. Every colleague is a unique individual. Just as we want to help our clients grow, we do the same for our employees by building on their knowledge and expertise. We do this by focusing on autonomy, personal development and leadership.”
Cafeteria plan
We have also refined our strategy on the HR side. “You prepare for growth by ensuring you can attract talent. Offering the right terms of employment is crucial in this regard.”
In this regard, the new rewards strategy stands out in particular. It has been in operation since the middle of the year and was accompanied by the launch of a flexi-benefits scheme. “We have had a flexible income plan and a mobility budget in place since 2025, although the latter will only become mandatory from 2026. In barely six months, around 750 benefits have been purchased.”
Alongside the changes to the rewards strategy, the working-from-home policy has also been updated. “Flex Up! is an initiative setting out agreements on the balance between office and home working, and includes guidelines on how to work in the office,” says Mireille. “Whereas we used to expect our staff to spend at least two days a week in the office, we have now increased this to three.”
She cites connection and knowledge as the reasons. “New employees gain a great deal of knowledge by quickly asking a colleague a question or hearing something they didn’t know during a meeting. For them, spending sufficient time in the office and informal discussions are essential. In addition, this allows them to quickly experience Moore Belgium’s values in practice. But the latter is also important for colleagues with more experience. In this way, everyone remains sufficiently connected to the bigger picture.
And so, everything within HR revolves around that same goal: rallying everyone behind that mission and vision, ensuring the values are lived every day, and thereby creating a context in which our companions can realise our challenging business ambitions…
Mireille Coudron
Human Capital Director
04
Connected by our DNA
New brand positioning: a choice for connection
‘Entrepreneurs, just like you.’ That has been Moore’s new brand positioning since 2025. A clear choice to stand even closer to entrepreneurs. A logical choice for those who see the challenges they face on a daily basis. “We want to be there at the key moments.”
You have already read elsewhere in this annual report that 2025 was a year full of developments, changes and growth. That dynamism was also reflected in the way we further strengthened our relationship with clients.
“Our mission and our purpose have remained unchanged. Being there for entrepreneurs remains our compass, both in the short and long term. What we did refine in 2025 is how we communicate that to the outside world.” Speaking is Birgit Heymans, Marketing Director at Moore Belgium. Together with her team, she helped develop Moore’s new brand positioning: ‘Entrepreneurs, just like you.’.
“We used to position ourselves as a companion on the journey for entrepreneurs,” she explains. “And we still are. But today we want to show more clearly that we understand their reality from the inside out. Entrepreneurs need a partner who truly understands their context.”
“We’ve grown through entrepreneurship ourselves. We know what it means to guide companies through growth, transformation, and national and international ambitions. We’ve gone through those phases ourselves.”
Entrepreneurial family
It is a promise many companies want to make, but according to Birgit, Moore’s strength lies in its authenticity: “We have grown from an entrepreneurial background ourselves. We know what it means to support businesses through growth, transformation and (inter)national ambitions. We have experienced those phases ourselves.”
What sets Moore apart is the combination of the quality and expertise of a major player with the agility and entrepreneurial spirit of a mid-market partner. “That mix makes us particularly relevant for growing businesses.”
Entrepreneurs under pressure
Entrepreneurs are under immense pressure today. Economic and geopolitical uncertainty continues to weigh heavily, whilst digitalisation and the war for talent are high on the agenda. On top of that, there are sustainability, regulation and, in many family businesses, succession issues
“We’re seeing demand shift from on-demand advice to structural, proactive support,” says Birgit. “Entrepreneurs are seeking support on issues that shape their future. Think digital resilience, cyber and compliance risks, sustainability obligations and international scalability. They expect a partner who understands their broader context, not just their figures.”
Connection
The new positioning responds to that need. Moore has consciously chosen to focus on connection. “‘Entrepreneurs, just like you.’ is not a slogan, but an attitude,” says Birgit. “We stand alongside entrepreneurs, we listen to their challenges and we move forward together. Based on the philosophy of ‘one team, one spirit’.”
But that connection doesn’t stop at customer contact. Internally, there is also a strong focus on integration and collaboration. Expertise across services and countries is brought together, so that entrepreneurs experience a single point of contact for complex issues.
Key moments
In 2025, this positioning was also translated into a concrete, adapted marketing strategy. “We are building our strategy around one central principle: being there at the moments that really matter to entrepreneurs,” explains Birgit. This means communication based on dialogue and collaboration, as well as a proactive presence at key moments in growth and transformation. Think of (international) expansion, mergers and acquisitions, automation, family succession or strategic restructuring.
“For us, marketing is not just a campaign machine, but a way to deepen relationships and stay relevant,” says Birgit. “We bring that to life through consistent communication, stories from entrepreneurs, and a tone of voice that puts collaboration at the heart of everything.”
Being there for them
Moore opts for channels that resonate with entrepreneurs and align with its role as a partner: thought leadership through expert content and webinars, LinkedIn as a key community channel, and targeted sector-specific communication and partnerships.
In terms of content, the focus is on themes that are structurally important to entrepreneurs: financial and tax reporting, legal optimisation, processes and systems, risk management and assurance, digital transformation, innovation and sustainability, governance and good corporate governance, restructuring and continuity, …
“We focus on the developments that make a difference and on the key moments in an entrepreneur’s journey,” concludes Birgit. “We also want to help entrepreneurs move forward through our communication. We are here for them.”
Birgit Heymans
Marketing Director
04
Connected by our DNA
Key Figures 2025
Revenue Growth in FY 2025
In fiscal year 2025, Moore Belgium generated revenue of 257.8 million euros, an increase of 18.9% compared to 2024. This growth reflects both organic growth (2.0%) and strategic expansions within our core business activities.
Revenue trends by business unit
Revenue trends across all divisions:
| Revenue growth | Total | ACC North | ACC South | AUD | BA | BC | COFI | GRANTS | T&L |
|---|---|---|---|---|---|---|---|---|---|
| Total | 18.9% | 12.4% | 92.3% | 7.7% | 8.3% | 80.6% | -13.3% | -10.6% | 0.9% |
| Organic | 2.0% | 2.1% | 6.9% | 4.7% | 8.3% | 0.9% | -13.3% | -23.6% | 0.9% |
Strong growth, driven by people
In 2025, the number of companions continued to grow strongly. Moore Belgium’s continued growth is not only the result of a clear strategy and a broad range of services, but above all of the people who bring that vision to life every day.
With the integration of new teams and the influx of talent, the number of employees continued to rise, in line with the organization’s growth. This evolution underscores the trust in Moore as an employer and simultaneously strengthens our ability to support clients even better.
Another Record-Breaking Class of Young Graduates in 2025!
We are proud to announce that this year we welcomed no fewer than 112 enthusiastic new hires! These talented individuals are ready to launch their careers across our diverse business units and make a valuable contribution to Moore’s future.
Jarno Devedeleer & Mireille Coudron
CFO & Human Capital Director
04
Connected by our DNA
Impact that matters: two stories, one mission
Sustainability: our guiding principle
It was an eventful year in terms of ESG. With the Omnibus Package, Europe relaxed sustainability regulations, specifically the reporting requirements. Yet sustainability did not lose its importance. On the contrary.
“Did we and many of our clients felt a sense of relief? In a sense, yes, but the reduction in the CSRD framework does not mean that sustainability has disappeared from the agenda. We have noticed that companies are very well aware of how important it is to continue making efforts and to communicate about them.” These are the words of Vanessa Daelman, Senior Principal ESG Business Consulting at Moore Belgium. “Thanks to the breathing space created by the Omnibus, there is more time and focus for targeted projects and a focused approach.”
Ongoing commitment
This was evident first and foremost within Moore itself, where various working groups took the time to build on the focus areas from the previously developed double materiality analysis. “We have fully integrated ESG into a general strategic exercise, in which we jointly considered the future of Moore and the sustainability-related KPIs that must be included.” To translate all this into targets and action plans, the working groups set to work on a number of environmental, social and governance themes.
Yet it did not stop at brainstorming alone. The plans that already existed gradually came to life. For instance, a Mobility Week raised awareness of green transport alternatives, the procurement policy now focuses even more on local sourcing, there is a clear supplier code of conduct, and policies in the AI domain have also been updated. In the social sphere – “the top priority within a people-focused company like Moore” – the results of the annual well-being survey and the new Best Workplace accreditation demonstrated the organisation’s ongoing commitment.
Resilience
Making sustainability a fully-fledged part of business operations: Moore is doing this deliberately itself, including through targeted acquisitions in the advisory division, and it is also one of the tips that Vanessa and her colleagues pass on to clients. “By integrating sustainability into a risk and opportunity analysis and into your strategic reasoning, you create awareness but also resilience. This is where the benefits become clear, particularly in an economically and geopolitically challenging context.”
A message that resonates with the market. “The Omnibus Impact is certainly felt in the audit part of our services, pure reporting is no longer required for many of our clients, but is less noticeable in business consulting. Companies remain committed to sustainability.” Driven by intrinsic motivation, but also because it is now consumers, partners in the value chain and certainly financial institutions who are asking questions about it. “That is why we will be providing our accountancy colleagues with strong support in this area in the coming period. In this way, ESG remains a unifying force within Moore.”
Vanessa Daelman
Senior Principal ESG Business Consultant
How the Moore Belgium Foundation fosters connections both externally and internally
With the arrival of two new board members, a host of impactful initiatives and overwhelming enthusiasm across all departments, the Moore Belgium Foundation can once again look back on a successful year. “In line with our Noble Purpose, we offer not only financial support, but also time, expertise and a hands-on presence. This gives everyone the chance to grow and thrive.”
The Moore Belgium Foundation provides structure to the organisation’s charitable initiatives and thus reinforces its sustainability ambitions. “To this end, we build on a number of relevant SDGs and join forces with partners such as the King Baudouin Foundation, Boost and Natuurpunt,” explains board member Kelly-Jayne Aylward (Partner Grants & Incentives). “This project reflects everything Moore stands for: entrepreneurship, innovation and collaboration – values that we translate into a tangible contribution to society.”
Countless initiatives
The partnership with Boost is the Foundation’s largest community project, running for three years. It focuses on talented and motivated young people from disadvantaged backgrounds and helps them to improve their prospects in higher education and on the labour market. “Our financial contribution amounts to 57,000 euros per year, but even more important is our active support for 15 young people. Following the launch in September 2024, that support came into full effect in 2025.”
Yet that was by no means the Foundation’s only initiative. An overview:
We took part in Moore Helping Hands, an initiative by Moore Global, and lent a hand during Boost Nike Day, at Pirlewiet’s activities and in the family-based planting of 2,500 trees as part of Tree Planting Day.
- A Moore Minds Quiz took place in six regions, with a total of 450 participating companions. A bonding moment outside the daily work context, which raised €12,637 for charity.
- The sale of pins was also a success, both in terms of raising the Foundation’s profile in the workplace and financially. The full proceeds (€4,810) will be used to support employees who have faced personal setbacks.
- The icing on the cake was the Fundraiser auction: this raised no less than €100,150 for the charities supported by the Foundation. Since 2025, these have included Kom op tegen Kanker and Think Pink.
Enthusiastic volunteers
The Foundation’s activities not only benefit society, but the organisation itself also experiences positive effects. That is according to board member Leen De Boitselier (Partner Accountancy). “The projects strengthen the sense of connection and commitment among our companions. The shared efforts foster a sense of togetherness across teams and offices.” At the same time, they enhance Moore Belgium’s social impact. “Our values are lived out internally and made visible externally.”
Incidentally, this is by no means the story of just a small group of committed individuals. “We’ve noticed that many are keen to do their bit and can count on a large group of enthusiastic volunteers, including a few permanent staff who are always on hand to help at every event. In addition, the two new additions to the board, Bart Van Der Vurst and Matthieu Geelhand, bring fresh energy, and the practical support from Moore Group Services remains essential.”
Kelly-Jayne Aylward & Leen De Boitselier
Partner Grants & Incentives & Partner Accountancy
05
Connected with the future
On to tomorrow
“We’re not just building the future by growing, but by making more conscious choices about where and how we make an impact.”
Anyone wishing to bridge the present and the future should ideally start reflecting early on the trends, obstacles and opportunities on the horizon. This is where the best plans for sustainable growth emerge.
Peter Verschelden, Executive Chairman of the Board of Directors, and Matthias Geyssens, Partner at co-shareholder Waterland, come together and share their thoughts on what we can expect from Moore tomorrow.
Moore Belgium as a catalyst for European connection
The globalisation of the business world continues, and this brings with it new needs. “Many of our clients are expanding into other European countries,” says Peter Verschelden. “We’re seeing that they want a single point of contact, a single party to help them across national borders. It’s up to us to meet that need. We’re already transcending business units, now it’s time to add an international dimension.”
That is a challenge, but according to Matthias Geyssens, above all an opportunity. “Enhanced collaboration between Moore’s national departments is an asset for everyone. In a context of geopolitical division, that connection is also more desirable than ever. And since few service providers have global experience, there are real opportunities there.”
Moore will seize those opportunities, with Moore Belgium playing a key role. Peter: “Over the past five years, we have built up a great deal of expertise alongside Waterland and we understand how, in consultation with private equity, value can be created for all stakeholders. We now want to share that knowledge with our colleagues in the United Kingdom, the Netherlands, Germany and Spain. From Belgium, with myself as chairman and Waterland as a joint shareholder, we will build bridges and develop a European offering.”
Matthias does emphasise, however, that the target group remains unchanged. “We’re not talking about listed multinationals, but about large-scale SMEs that operate internationally. We’ll continue to focus on the mid-market.”
Strategic growth
Whereas recent years have been characterised by accelerated growth, with a large number of acquisitions carried out, and appropriately integrated, the emphasis is gradually shifting towards strategic growth. “That was also one of the adjustments we implemented in 2025 within our House of Noble Purpose,” says Peter. “In concrete terms: we want to continue growing, but from now on with a different focus, in the right locations and in areas of expertise that can strengthen our offering. We will soon reap the benefits of that selectivity.”
Organic growth
Alongside this development, Matthias highlights the growing focus on organic growth. After all, a service provider that brings together numerous business units and areas of expertise, whilst also seeking to maximise the links between them, has a strong advantage when it comes to increasing cross-selling. Peter recognises this too. “That is why we have freed up 50% of one senior partner’s time. Not just to visit clients and inform them about Moore’s wide range of services, but above all to foster a mindset of organic growth within our organisation.”
From good to great
As early as 2020, Matthias Geyssens and Waterland predicted that the compliance support Moore offers clients would partly give way to an advisory role. This has since been borne out in practice. “Moore must increasingly assist clients with their entire business operations, from financial and tax aspects to their approach to AI and digitalisation.” To act as a sounding board in every area and thus be a true rock in the surf, and to achieve the intended organic growth, it is essential to build maturity. Peter: “Our ambition is clear: to evolve from good to great and build an organisation that easily stands the test of time.”
Peter is referring to the book of the same name by Jim Collins. He always keeps it to hand and it will soon serve as the starting point for a number of internal brainstorming sessions on the ingredients of such a maturity boost. Although, of course, that path has already been embarked upon for quite some time, with the help of Waterland. A partnership that has been running for five years and is now being extended. “Never change a winning team,” says Peter, who is well aware that Moore Belgium must prepare for a more passive shareholder role on the part of the investment firm. “But that is a logical evolution. Because Waterland now has to divide its attention across five countries, and above all because, in a few years’ time, you can confidently let go of as more mature organisation.”
Rejuvenation
Moore Belgium’s policy frameworks do not stipulate any age quotas. Nevertheless, a shake-up has taken place among the equity partners, explains Peter, who himself handed over part of his responsibilities to Managing Partner Jo Roseleth, who is ten years his junior. “With 24 younger people joining and 22 older partners taking the opposite path, the average age is below fifty for the first time in our history.” A rejuvenation that is evident at every level of the organisation. “Through our corporate culture, we give young people opportunities and we will continue to do so in the coming years.”
One brand?
Is there anything else on the horizon? Certainly: there is a distinct possibility that all entities of CompanionCo will soon operate under a single banner. Peter believes that is a logical development too. “In terms of DNA and culture, we are already aligned. A shared brand identity would convey our unity even more effectively.”
