Mazars in the Netherlands Annual Financial Report 2022 / 2023

Driven by the intrinsic motivation to present our sustainability report and annual financial report as an integrated whole and encouraged by the CSRD, we proudly present our first integrated annual report for 2022 / 2023. Last year we have seen many developments affecting our profession, including the competition for talent, new standards and fast-changing technological developments.  

The year 2022 / 2023 also marked the third and penultimate period of our One24 strategy. We continued to work on the themes and objectives and made adjustments where necessary in the following areas:

• Enhancing our service delivery model (Our clients)
• Fostering a true quality and risk management culture across the firm (Our quality)
• Care for and help develop our people (Our people)
• Evolving towards a more purposeful, sustainable and innovative organisation (Our impact)
• Sustaining our growth (Our sustainable growth)

Consolidated turnover for 2022 / 2023 was €153.4 million, an increase of 11.0% compared to 2021 / 2022. Our revenue growth was mainly attributable to the three largest service lines, Audit & assurance, Tax and Accountancy & outsourcing. We are proud that, despite the challenges in the labour market, we remain an attractive employer that people want to commit to in order to enable this growth. We see in the consulting-related service lines that the market for these services is currently tight, putting pressure on revenue. Sustainability is a new service line in 2022 / 2023, consisting of ESG consulting services to our clients. We expect increased sales in this service line in the coming years. Gross margin as a percentage of revenue has decreased slightly due to investments in people, quality and technology, but remains at a healthy level.

For the 2023 / 2024 financial year, we expect organic growth in line with our strategic objectives, while we will continue to face the challenges of the labour market and the need to invest in quality, as well as the impact of economic developments such as geopolitical uncertainties. Together with our people and partners, we remain committed to the common good and the future of Mazars in line with our purpose. The 2023 / 2024 financial year will also be marked by the formation of a network with FORVIS, that will come into effect on 1 June 2024. This will enable us to offer an even better service globally, while working on the basis of the same standards and values.

Executive Board Mazars 

Read the full press release here.