PwC Belgium grows steadily amidst uncertain times: “Hesitation is being turned into determination”

Brussels, 21 November 2025 - PwC Belgium booked net revenues of 438.7 million euros in its previous fiscal year (July 2024 - June 2025). While operating in uncertain times, the professional services provider was able to stabilise, even increase its muted growth by 2.6% compared to 2.2% last year. “After a period of impactful change to our business – being it driven by geopolitical tensions, technological transformation, or regulatory reform – we’re finally seeing trepidation being turned into determination on the market. Companies are increasingly recognising that the past isn’t coming back, and waiting for it to return isn’t a strategy. Clients are focusing on so-called ‘no regret moves’ to raise efficiency meanwhile tackling uncertainty, building future-proof business models,” says Patrick Boone, Chairman, PwC Belgium.

In a challenging fiscal year, the services provider went through a full-blown revamp of its brand, remained focused on upskilling its people in AI, and transformed its services towards a more resilience-driven go-to-market position. PwC Belgium has and continues to invest in its people, as well as the solutions and technologies necessary to help clients to create value in motion.

Patrick Boone, who has concluded his first year as chairman, says: “The market remains tough and unpredictable. The geopolitical situation is unsure, rife with conflicts, global supply chain disruptions, and shifting alliances. With the future still uncertain, business leaders are focusing on so-called no-regret moves—initiatives that raise efficiency and deliver faster ROI. AI is one of those levers, and we’re seeing growing evidence that it’s no longer just an efficiency play; it’s also opening up new opportunities. Predicting the future remains difficult—and that’s true for workforce questions as well. This is leading to richer conversations with clients about how they envision their workforce transformation and how they can bring their people along with confidence and optimism.”

PwC Belgium achieved a net revenue of €438.7 million, a growth of 2.6%. The Assurance practice, driven by regulatory change, booked steady growth of 4.3%. Tax and Legal Services grew ​ by 1.4%, and Advisory was able to realise growth of 2% mostly driven by supporting clients with transformation. PwC Belgium continued to invest heavily in its people with over 14,000 hours training in using artificial intelligence tools. However, because of changing market conditions and the company’s expanded use of advanced technologies and offshoring, PwC noted a slowdown in headcount growth – adding 407 new hires in the last fiscal year, compared to 460 in FY24.

Resilience versus uncertainty

Operating in a period of pervasive uncertainty is challenging for all organisations. Patrick Boone comments, “Rather than stand still, we’ve been taking practical steps to reduce our exposure to external shocks. By properly assessing risks, you c an maybe not take away, but limit the impact of uncertainty. As a result, we’ve tightened our control over supply chains and partnerships ​ ​ and have primarily redefined our sustainability initiatives to ultimately minimise risk: by reducing our climate impact and contributing positively to our environment and communities, we’re investing in a more resilient business landscape.”

PwC’s progress is tangible. Over the past five years, a reduction of 40% in total GHG emissions was carried out. On track to electrify its fleet, the firm was able to cut scope 1 emissions by nearly 41% versus five years ago and kept on course to meet its 2030 target. Business travel emissions are down 51.7% compared with five years ago, meaning PwC Belgium has already surpassed the 2030 ambition well ahead of schedule. The services provider is tightening its operational footprint: waste generation fell by 29.2% year-on-year.

Resilience also means investing in people and environment. Today, 53% of headcount participates in Fit for You, PwC Belgium’s wellbeing programme. PwC Belgium mobilises teams for ‘Impact Days’ to support a range of organisations through hands-on volunteering and backs multiple charitable initiatives—from a Kom op tegen Kanker quiz to strong participation in sports events that raise funds for good causes.

Human-centred AI

AI and automation are reshaping industries and jobs, demanding continuous learning and upskilling. The company has been investing heavily in digital skills to stay relevant as AI enhances how we work and deliver services. This is reflected in the figures as well: 64% of employees use (Gen)AI at work on a daily basis, and almost the entire workforce (98%) uses AI tools. But technology is an enabler—not a replacement for human judgment. Building trust requires making certain that outputs are accurate, complete, and reliable, and interpreting them with context and within ethical boundaries, which is why the company emphasises a human-led, tech-powered approach.

Patrick Boone, Chairman PwC Belgium says: “The economy remains under pressure, yet the path forward is clear. AI has become a fixture in our operations, our people’s training, and the quality we deliver. The use of (Gen)AI keeps exponentially increasing among our teams. Many organisations aren’t fully there yet, which isn’t abnormal. So, we’re using our scale and bandwidth to take the lead. We must not only keep pace but strive to stay ahead. To secure our relevance going forward.”

Bedrijfstakken

Advisory

In FY25, PwC Belgium’s Advisory practice achieved 146.9 million euros in net revenues – a two percent increase compared to prior year. Growth was particularly driven by successful delivery of large-scale business and technology consulting transformations, (Gen)AI-enabled services and our Corporate Finance practice, that successfully assisted clients with a broad range of divestiture and sale mandates. The service provider also saw positive growth in its focus industries, i.e. Health Industries, Aerospace and Defence and Consumer Markets. At the same time, developments in the geopolitical landscape are negatively impacting the demand for Deals M&A and sustainability services. Throughout the year, PwC Belgium broadened its services to keep up with the fast-changing world of AI technology and shifting global political conditions.

Assurance

FY25 saw the first wave of required reporting in line with the Corporate Sustainability Reporting Directive (CSRD). Which had a positive influence on financial performance. PwC Belgium’s Assurance practice achieved 151.5 million euros in net revenues for FY25, a 4.3% increase on FY24.

As a builder of stakeholder trust, companies come to PwC to leverage its long-established reputation in the market. Trust reaches beyond just a company’s financial performance and compliance. Increasingly, companies are seeking to be more transparent about the impact they have on the environment and communities around them, not just because of regulatory requirements, but because it’s the right thing to do.

Tax and Legal Services

The Tax and Legal Services unit continued its years long growth path in FY25 with a 1.4% increase in net revenues compared to prior year at 140.3 million euros.

Investment in technology and upskilling has been a top priority for the Tax and Legal practice. Together these investments help secure PwC’s role as the most relevant, trusted and innovative tax, workforce and legal advisor. Teaming and bringing diverse expertise together are important elements of how we work. Especially calling on service delivery centres to boost local teams and make sure they’re given the time and bandwidth to connect with clients and invest in their careers and development. PwC continually deploys new, relevant tools and strongly encourages people to use them daily. Apart from a specific widespread Copilot programme for TLS and a suite of more diverse toolings, all tax specialists have a Harvey licence and have been trained on the tool.

About PwC

At PwC, we help clients build trust and reinvent so they can turn complexity into competitive advantage. We’re a tech-forward, people-empowered network with more than 364,000 people in 137 countries. Across audit and assurance, tax and legal, deals and consulting we help build, accelerate and sustain momentum. Find out more at www.pwc.com.

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