Expert
Proud of our meaningful start following the merger of ABAB and Alfa
We reflect on a remarkable first year. In 2024, the focus was on integration, growth, and creating impact—evident in both our performance figures and organizational culture. This is reflected in both the financial figures and the organizational culture: colleagues rate their work at aaff with an 8.1 out of 10. Total revenue increased by 9.6 % compared to the combined revenue in 2023, reaching €209.8 million. This was partly achieved through growth in the compliance & advisory services, as well as through targeted acquisitions. The EBITDA margin was 9.4% and the gross margin remained stable. The net result amounted to €10.2 million.
A strong start as one organization
Since the official merger date on June 12th, 2024, we have been building an agile, data-driven, and future-oriented organization. aaff has a unique ownership structure: 100% of the shares are owned by the employees. Fou-Khan Tsang, Chairman of the Board: “With co-ownership, we demonstrate that purpose comes before profit. Conscious leadership, equality, and making an impact are the foundations of aaff. For our clients, for our colleagues, and for society as a whole.”
From sustainable actions to shaping the future
We are fully committed to sustainability and social responsibility and successfully completed the B Corp recertification with an impressive 118 points. Further investments were made in CSRD reporting, making its vehicle fleet and accommodations more sustainable and strengthening sustainability advice for entrepreneurs. Besides organic growth, we made three targeted acquisitions: Green Accountants, Innovencio, and JMC Accountants and Tax Advisors. Investments were also made in digitalization, AI pilots, and the expansion of the hub in Sarajevo.
Looking ahead: building towards 2025
Arnoud Bosch, Board Member: “This year, we are strengthening our collaboration across services, investing in innovation, and doing everything we can to ensure positive customer experiences. We are also building an attractive organization for our current and future colleagues and fostering conscious and impactful leadership. Together, we are laying the foundation for our future. An important goal? To be fully CSRD-compliant by 2026; one year ahead of the deadline. Because we believe that true progress begins with the courage to accelerate.”
Other insights
Hooray! aaff is B Corp certified
We’re proud to announce that aaff is now a certified B Corp! This certification affirms that sustainability, social responsibility, and transparency are at the heart of everything we do.
ABAB and Alfa join forces as aaff
ABAB and Alfa will continue under the name aaff. Whilst the merger between the two companies was finalized in the summer of 2024, the new name and branding will become visible to the public now.
