The turnover for Accounting, Bookkeeping, and Auditing Services and Tax Consultancy in Belgium has shown a general upward trend from 2013 to 2023. The sector experienced significant growth with a notable peak year-on-year increase of 17.84% in 2017, countered by some years of slight declines such as 2015 (-1.21%) and 2018 (-6.41%). In the last two years (2023 versus 2022), there has been a stable increase of around 2.55%. For 2023, the turnover stood at €5.22 billion. The sector's Compound Annual Growth Rate (CAGR) over the past five years is estimated at 2.77%, indicating consistent growth in recent years.
Looking to the future, the forecast from 2024 to 2028 predicts continual growth with a forecasted CAGR of 1.8%, signaling that the industry may experience moderate but steady increases. Over the next five years, the forecasted growth rate is 9.36%, reflecting a positive outlook for the sector.
Future trends to watch for include:
- Continued adoption of advanced technologies and automation in accounting and auditing processes.
- Increased emphasis on digital transformation and cyber security within the industry.
- Evolving regulatory and compliance landscapes which may drive the demand for consultancy services.
- Potential impacts of economic fluctuations on businesses' needs for professional accounting and tax consultancy services.
