Our business

At Deloitte Luxembourg, financial performance represents only part of our holistic approach to impact. We firmly believe in being a purpose-led organisation – one that strives to provide its clients with pristine quality, that empowers its people to excel, that actively supports the communities in which we live, and that contributes to leaving a more sustainable planet for the next generations.

This ambition, demonstrated by the actions and results presented in this 6th Impact Report, has enabled the robust financial performance we have secured this year. With a growth of 12% of our net service revenues across our business functions, leading us to exceed the symbolic mark of half a billion gross revenues (€508 million), our talented professionals have helped us to successfully cross a new revenue milestone, while solidifying the foundations upon which our Firm has been built over the last 75 years ago.

This growth was made possible by the contributions of each of our business functions and the unique multidisciplinary model in which they collaborate. The investments made over the years – to offer our people with a unique talent experience, strengthen our diverse teams, further embrace the opportunities offered by innovation through digital transformation and emerging technologies – have laid the groundwork for our continued success.

Looking beyond our annual performance, Deloitte Luxembourg commits to investing in mid-term and long-term action to ensure our growth is sustained, consistent, and durable, with a unique capacity for resilience. This is how we will continue our path toward being a purpose-driven organisation that actively contributes to building better futures for our people, clients, and communities.

This year, our Strategy, Risk & Transactions and Technology & Transformation practice has achieved significant milestones with technology and digital transformation at the our strategic core.

We focus on real-world benefits of Generative AI (GenAI) for businesses and believe in showcasing AI's impact through tangible results. Our value-focused approach ensures that AI serves the needs of individuals and communities, enhancing work experiences and driving personal growth.

We continue to further our goal of embedding GenAI in our Global Delivery platforms, while offering comprehensive advice, implementation, and operate services. These AI-enabled services and their advanced platforms significantly boost our delivery capabilities. Our focus remains on providing better and faster solutions to help our clients achieve resilience through technology.

GenAI has the potential to accelerate progress toward the UN’s 17 Sustainable Development Goals (SDGs), but it must also overcome challenges, such as minimizing the environmental impact of the technology and building trust. To address the latter, we deploy reliable and trusted AI solutions that build trust through transparent and ethical practices.

In parallel to our AI efforts, we are making significant investments to upgrade our Operate Services by streamlining our solutions, while enhancing our operational efficiency and accuracy. Thanks to single-entry-point, centralized data and state-of-the-art dashboarding tools, we will deliver greater value and innovative impact to our clients.

Finally, it has never been more clear that our clients operate in complex regulatory frameworks with growing reporting mandates. Navigating these environments is top of mind for executives, and we believe in advice-based value propositions to address board concerns. To this end, the future of our advisory practice is based on a multi-disciplinary approach that incorporates business intelligence and data analytics to deliver deep understanding, clear perspectives and insights that help individuals and their organizations to refine their strategy and transform their business.

This year marked another successful performance from our Audit & Assurance practice. Our unshakeable commitment to values is at the heart of Deloitte’s DNA – integrity, quality and excellence – guide how our talented teams serve our clients and interact with stakeholders.

Amid an environment of geopolitical change, we remain ready to address the evolving issues and risks impacting our clients. Our people, and the judgment and professional skepticism they impart as auditors, are the true measure of our capacity to be a partner of choice by inspiring confidence and trust.

We continue to make significant investments in our talent, equipping them with advanced skills in technology and data to adeptly navigate the swiftly evolving demands of our profession. Technological advancements in generative AI present opportunities for driving efficiency for repetitive tasks, and strategic investments in this and other areas empower our teams to establish new industry benchmarks for quality as they seamlessly adapt to the rapidly changing economic, business, and regulatory landscapes.

We are also committed to adapting our services to meet our clients’ needs. This year saw marked growth in the breadth of our Assurance practice, representing business development which aligns to the forthcoming Corporate Sustainability Reporting Directive (CSRD) reporting requirements .

As the Réviseurs d’entreprises’ roles and responsibilities rapidly evolve, and in line with our mission to foster sustainable economies, our practice nurtured conversations with participants across the financial reporting to advocate for shared standards that will guarantee enhanced transparency around climate-related and other ESG information. Facilitating conversation with our clients and a broad range of stakeholders – from regulators to capital markets, policy makers and the general public – has never been more essential. Aiming at effectively discerning risks, helping clients navigate through intricate business landscapes, and contributing to a more resilient and robust economy will remain an underlying priority in all we do.

Our Tax practice continues to exhibit steady growth, due to our commitment to quality, client-focused services and the expertise of our talented professionals.

This year further shone a light on the shifting tax landscape our clients face. The agenda of the European Commission and the new Luxembourg government measures and incentives are driving companies to further digitize their operations, implement Pillar II and adapt to the growing need for tax reporting capabilities. Our constant eye on these changes affirm that we can assist our clients in complying with these new legislations while benefitting from government incentives.

As our clients globalise, so do their needs and operations. Our emphasis on abiding by global tax principles ensures that we can grow sustainably while still meeting our clients’ needs.

With a robust service offering that spans a well-balanced mix of Operate services and value-added Advisory support, we also continue to expand our collaboration with our Consulting and Audit & Assurance colleagues to leverage our Firm’s signature multidisciplinary model.

Although deal making and transactions have slowed compared to past record years, we diversified our offering along the entire value chain to better assist Asset Managers and Investors – and their portfolio companies – to improve efficiencies and comply with their legal obligations.

Our commitment to investing in, retaining and expanding our talent is also unwavering. Approximately one-fourth of our Tax workforce were promoted this year, and we continue to onboard the best and brightest young talents and equip them with the tools, training and development that will make them future-ready.

GenAI is an integral part of our working environment – facilitating first analysis, summary and translation of documentation. We are also expanding our capacity to engage in modern and digital interactions with our clients through broader implementation and adoption of our DBoard platform.

Underpinned by our steadfast commitment to exceptional service delivery, proactive workforce development and adaptation to environmental and digital trends, we are confident in our ability to continue leading the way in providing comprehensive and forward-thinking tax solutions for our clients.