PIA Group strengthens market position in French-speaking Belgium with BFL.

BFL boasts a 75-year-long history. The agency was founded in Evere in 1949 by Ernest Lerminiaux, who also lent it his name. The family character and the personalised approach have remained hallmark traits throughout BFL’s growth path, but the agency also evolved with the times and the needs of its customers. And that is something that the current partners Alexandre Deschuyteneer, Florence Foucart and Nazal Assakereh want to continue to do in the future. “It’s just that in today’s fast-evolving world it is far from evident to do it all by yourself”, says Alexandre Deschuyteneer. “Just think of the continually changing legal framework or AI, which is revolutionising our industry as well. From a strategic standpoint, joining a group was a logical decision.”

“We ended up choosing PIA Group because they offer us a growth environment that leaves the DNA of BFL intact”, Florence Foucart continues. In an accountancy industry characterised by consolidation, PIA Group does indeed set itself apart by not usurping the accountancy firms it takes over but rather integrating them into the group with their own identity and approach intact. “Don’t fix what isn’t broken is the foundation of that approach”, Steven Brouckaert says on the subject. “We not only respect the branch DNA but also the entrepreneurship of the branch partners. More even: our shared services such as HR, IT and digitalisation, finance, operations, sales & marketing and advisory give our branch partners more space to focus on their entrepreneurship.”

This highly individual approach appeals to accountancy firms, as evidenced by PIA Group’s prodigious growth. Meanwhile the group has swelled to 48 branches in Flanders, Brussels and Wallonia that employ a total of 1,100 people. PIA’s concept has also hit a nerve in the Netherlands. In just eighteen months’ time, the group has grown to 15 branches, totalling over 600 personnel. BFL’s partners are also convinced. “We have no intention of just sitting back now and waiting for our retirement”, says Nazal Assakereh on the subject. “We still want to accomplish many great things and can’t wait to pursue those goals with the support of PIA Group. For us it is crucial to be able to guarantee continuity in terms of quality and our personalised approach, both for our employees and our clients.”

BFL’s client portfolio is highly diverse and ranges from one-man businesses to large companies that are active abroad in a wide gamut of industries. Within that general client base, we still find a number of specialisations, such as the audiovisual sector – with, among others, in-depth expertise in the tax shelter scheme –, the legal profession and non-profit organisations. “Client size is of secondary importance”, Alexandre Deschuyteneer adds. “The main thing for us is to click with the people that run the organisation and feel they can truly benefit from our expertise in their journey. Here at BFL we are all passionate about what we do. That has been one of the main drivers of our success these past 75 years.”

Nathalie Calle, CEO of PIA Group, identifies with that passionate approach to the accountancy profession. “PIA is a story of growing together and that also requires working together. The passion of the BFL partners is also reflected in a clear ambition to go for it as a team. Together with their customers. And now with their fellow PIA agencies as well. BFL truly is cut from the right PIA cloth.” Benjamin Biesmans, Senior Investment Manager at Baltisse, the family office that guides PIA Group’s expansion, is also happy with the addition of BFL. “In Belgium PIA is rapidly developing into a nationwide organisation. Our coverage of the Dutch territory is also rapidly expanding. At the same time, our service offering to our customers also keeps growing. Baltisse is pleased to see PIA Group consolidating its role as a key player in the Benelux. Together with Steven and Nathalie we are already looking forward to the next steps in the growth process, which are just around the corner.”