Annual Report 2025

CEO introduction
Key figures
Strategy
People & culture
ESG
Highlights 2025
Downloads

Putting change to work

The world of work is undergoing a structural shift. Technology is advancing at unprecedented speed, labour markets are evolving, and regulation continues to grow in complexity. In 2025, SD Worx focused on what matters most in this environment: clarity, compliance and continuity. In his preface, CEO Kobe Verdonck reflects on a year of disciplined growth, accelerating digital transformation and increasing responsibility at European scale — all driven by one clear ambition: to become the backbone of work in Europe.

Read the CEO’s preface

' Our role is to bring clarity to complexity, ensure compliance and guarantee continuity so employers can operate with confidence.

Kobe Verdonck, CEO of SD Worx

2025 in numbers

A year marked by resilience, disciplined execution and continued investment in the future. These figures reflect our scale, our responsibility and the trust placed in us every day.

Explore the full set of figures and trends

organisations supported across Europe

employees paid every month

employees and contingent workers

nationalities

Strategy

Building Europe’s backbone of work

Europe’s labour markets are diverse, regulated and deeply local. That complexity requires a distinctly European approach to HR and payroll.

Our strategy continues to focus on three priorities:

  • strengthening our scale across Europe,
  • enriching our HR, Pay & Time portfolio,
  • accelerating digital and AI‑enabled transformation to deliver consistent, proactive and compliant services

In the Annual Report, we show how this strategy translates into action, from continuous payroll innovation and targeted acquisitions to knowledge at scale and a unified customer experience.

Discover how our strategy comes to life

People & culture

Transformation powered by people

Technology accelerates our work, but people define the impact.

In 2025, SD Worx continued its transformation with and through its people. We invested in leadership, skills and ways of working, while strengthening our Positive Impact Culture, encouraging ownership, transparency and the mindset of being “critical friends”.

Employee engagement remained stable in a demanding year, reflecting resilience and commitment across teams. At the same time, we advanced our ambition to operate as One SD Worx, creating a more consistent employee experience across countries.

Read more about our people, culture and leadership

ESG

Sustainability beyond compliance

For SD Worx, ESG is not just a reporting obligation. It is a strategic lever for long term value creation. As an HR and payroll partner operating at the heart of employment, trust, data integrity and responsible business conduct are fundamental. In 2025, we strengthened the foundations of our ESG approach, including:

  • our first group wide carbon footprint
  • an EcoVadis Silver rating (top 7%)
  • stronger governance around data privacy, security and responsible AI

Our ESG priorities focus on climate action, working conditions, inclusion, trustworthy data and ethical governance — all essential in a compliance driven European environment.

Explore our ESG journey

Highlights from 2025

A selection of stories that illustrate how our strategy, technology and people came together in 2025.

01.

Moving CM’s payroll from in-house to fully integrated with SD Worx

Check the customer testimonial

02.

Scaling international employment for AHK debelux

Check the customer testimonial

03.

Integration of F2A our largest acquisition so far

Read about the integration

04.

New technological foundation for payroll

Read about this breakthrough

05.

AI as an enabler for more human impact

Read more about our CPO’s vision

06.

Investing in the future of work and talent

Read more about our partnerships

Downloads

Want to dive deeper? Access the complete overview of our strategy, performance, people and sustainability journey:

Annual Report 2025

Access all report extracts here:

Core Report
Financial Statements (English)
Financieel rapport (Nederlands)
Sustainability statements