Facilicom Belgium is “on a roll” thanks to Grant Thornton's advice

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Facilicom Belgium on a roll

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In 2022, Grant Thornton’s mandate as statutory auditor at Facilicom Belgium came to an end. However, this did not mark the end of the collaboration between the two. On the contrary, CFO Fabrizio Santoro seized the opportunity to engage Grant Thornton for a broad range of advisory services.

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Love of numbers

Fabrizio Santoro became financial director at Facilicom Belgium in 2019. ‘Facilicom wanted to take over my previous employer’, Fabrizio says. ‘From the other side of the negotiating table, I got to know Facilicom as a great company. So after the acquisition, I decided to make the switch.’

The originally Dutch group established a Belgian branch back in 1974. Since then, Facilicom has emerged as the country's largest and most trusted name in facilities management. Catering, reception, security, building management, cleaning, etc. Facilicom Belgium provides an average of 85% of all facility services required by clients.

‘Without qualitative inputs, you can't drive results.’

Fabrizio Santoro Financial Director at Facilicom Belgium

‘I have a deep affection for numbers’, Fabrizio explains. ‘I love improving bad contracts and using insights to boost results. I like to find out what adjustments need to be made to increase returns.’

Fabrizio is not only responsible for Facilicom's Finance department. ‘I also cover procurement, IT, legal, the fleet, calculations, financial control, invoice management and more. Pretty much everything except HR and Operations. I'm not a specialist. What I do have is common sense that I check with people who've got more technical expertise. If they know how to respond to my critical curiosity, then I trust them.’

Accumulating knowledge through experience

In 2022, the Dutch parent company decided that the entire group should work with the same auditor. This put an end to the long-standing collaboration between Grant Thornton and Facilicom Belgium for statutory audits.

‘Actually, it wasn't a bad thing’, Fabrizio thinks. ‘It's not healthy to stay with the same auditor for years. But most importantly, since Grant Thornton no longer does our audits, we can call on other services.’

According to Fabrizio, Grant Thornton knows his company better than he does himself. ‘Because Grant Thornton has been working for Facilicom Belgium for a long time. For instance, they know the history of some of the shareholders much better than I do. Grant Thornton also prepares our financial statements, advises us on tax issues and Ellen's team provides legal advice. She really knows us inside and out!’

Goodbye audits, hello Ellen

When Ellen Van Ingelgem, Tax & Legal Manager at Grant Thornton, was asked to prepare legal advice for Facilicom Belgium, a bell immediately rang.

“My father worked for one of their subsidiaries, so I was already familiar with the company. At first, we mainly supported them with compliance work. But when our audit engagement ended in 2022, the amount of legal work increased significantly.”

“Even today, we regularly assist Fabrizio with compliance tasks, such as publications in the Belgian Official Gazette. We also frequently review powers of attorney to ensure Facilicom Belgium can correctly participate in public tenders. We supported the company with legal formalities when the headquarters moved. We also provide legal advice for mergers and amendments to the articles of association. And we act as the point of contact for the Dutch parent company regarding questions about Belgian legislation.”

Informal warmth

‘Ellen is our legal conscience. If she says it's OK, then I trust her. She gives me advice that is 100% conclusive, without exception’, says Fabrizio. ‘If I question something, she can always give me an answer. Besides, I don't have to chase deadlines. It’s nice working that way.’

Fabrizio and Ellen also get on personally. ‘I know Ellen doesn't work on Wednesdays, so we take that into account. She has two sons, I have two daughters - we sometimes exchange advice on that front too’, Fabrizio winks.

‘What do I think sets Grant Thornton apart from the competition? We match in terms of culture. As with us, there is an informal warmth at Grant Thornton. Nothing is too much for Ellen and her colleagues. They guide me through complex files in a logical and constructive manner. This often happens proactively, by the way: if something relevant changes in legislation, Ellen calls us with practical advice.’

Fabrizio would feel comfortable working together for a lot of years.

‘For legal advice, we can't imagine a better partner and we are extremely satisfied with the accounting and tax services, as well.

So why switch?’

Ellen: ‘Helping to deal with formalities to lighten the burden for clients is our business. We should not be a bottleneck for them. If I can't offer a ready-made answer right away, I honestly admit that I need to investigate a particular area in more depth. That transparency is appreciated and it keeps the relationship healthy.’