Aluminium salt, aluminium sulphate, boehmite … You may be unfamiliar with the world of chemicals, but these are just a few products manufactured by Dequachim. CEO Quentin Herbinaux explains exactly what his business does, the challenges facing a chemical company today and the support that a financial advisor can bring. “Grant Thornton offers us the wide knowledge and flexibility that you cannot expect from your own employees.”

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Professionalisation of a family business

First and foremost: what does Dequachim do? Quentin: “Customers use our aluminium sulphate for purposes such as purifying water. That is probably the most tangible application of our output. Our products are also used in e.g. fertilizer, cosmetics and the metal industry.”

Quentin has been managing Dequachim for six years already. “I was brought in at the time to go further in professionalising the family business”, he says. “The owners – family of the founders – had the daily running under control, but wanted some support from someone with industrial experience in order to optimise the business operations. So that was my assignment.”

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Versatile partner

What exactly was Quentin required to optimise at Dequachim? “The control systems and chemical processes used were not entirely up to date. The systems for safety and quality monitoring were not perfect. And the financial structure was not optimal. For the latter we’ve been collaborating with Grant Thornton for the last three years.”

“We do our own bookkeeping, but ask Grant Thornton to check our tax compliance monthly and to help us each year with the annual financial statement. Besides that, Grant Thornton keeps an eye on our cashflow and gave input on the financing of our new factory that is under construction. We also used CFO-as-a-Service for some time. Grant Thornton is therefore a versatile partner for us.”

Exciting two-way relations

Anthony Jopart, Senior Manager Accountancy at Grant Thornton, gives more details on the support at Dequachim. “Above all, we make sure that the figures from the in-house accountant are coherent”, explains Anthony. “In addition to that, we checked both the financial and business plan from Quentin for construction of the new factory. For fiscality matters we turn to our Tax & Legal Partner Emmanuel Mariage for his expertise.”

“There’s a lot going on at Dequachim, which makes it very enjoyable and interesting for us, as advisors. That means that our partnership works both ways, because we also continue to learn more about the challenges facing SMEs like Dequachim in a fast-moving industrial sector.”

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Flexible collaboration

What, for Quentin, is most valuable about the partnership with Grant Thornton? “As an SME with less than 40 employees it’s impossible to have all the financial knowledge in-house”, he explains. “In that case, a consultancy firm like Grant Thornton offers the broad knowledge and flexibility you need as a rapidly evolving business.”

“Anthony and Emmanuel are always really responsive when I have questions for them. These are often small practical matters, but sometimes also strategic questions, for example, concerning tax optimisation and our long-term finances, with the new building in mind.”

“For each specific question,  Grant Thornton has an expert in-house. That means we always receive targeted recommendations at SME level, not the high-level advice that you often get from other firms.”

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Guide for the future

What lies ahead for Quentin and Dequachim? "My main task now is to prepare the organisation for the challenges facing every company in the chemical sector”, confirms Quentin. “That means we will continue with digitalisation and automation, and the intention is to reduce our carbon footprint with the new factory. Grant Thornton is guiding us through those transitions with clear financial advice."

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