Mazars in the Netherlands annual financial report 2019 / 2020

Covid-19 still has the world in its grip. What we have been experiencing since the beginning of 2020 is deeply affecting our society and almost all organisations have been affected to a greater or lesser extent. Over the past year, we have repeatedly considered how best to deal with a situation where the health of our people is paramount next to the sustainable continuation of our business.

The challenges were not easy. We had anticipated a declining flow of receipts due to the expected payment challenges of our customers, combined with a real decline in turnover in certain areas of our organisation. For the time being, we have been able to achieve growth, but the impact of the economic crisis will certainly continue to have its effect. We have worked out a number of scenarios regarding the possible effects on our liquidity. Taking into account our current liquidity position, the measures taken by the government, banks and pension insurers, as well as the financing by our partner-shareholders, we do not expect continuity issues in the coming year.

Executive Board Mazars