Financials
Financial year 2025
Vlaamse Maatschappij voor Watervoorziening from Schaarbeek, company number BE0224771467, closed financial year 2025 with a result of € 24.1 million after tax. For that financial year Vlaamse Maatschappij voor Watervoorziening recorded revenue of € 974 million and equity of € 1.3 billion. Compared with financial year 2024, the result moved from € -6.7 million to € 24.1 million. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 23, 2026.
€ 1.3 billion
▲ 2% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 24.1 million
▲ still € 6.7 million loss in 2024
Profit after tax over the fiscal year.
€ 4.5 million
▲ € 3.5 million vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 374.6 million.
People and assets in 2025
1,591.5
▼ 3.3 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 165.9 million
▲ 4% vs 2024
€ 104,200 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 4.5 million
▼ 12% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 808.4 million
▲ 14% vs 2024
€ 47.8 million is repaid this year. At this pace the long-term loan is gone in ≈ 17 years.
€ 180 million
▲ 20% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 92 days on average.
€ 12.9 million
▲ 5% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 732,891,757 | € 793,683,266 | € 838,334,098 | € 973,992,348 | ▲ 16% |
| Profit after taxes | € -16,167,499 | € -20,425,186 | € -6,678,208 | € 24,074,751 | ▲ € 30.8 million |
| Equity | € 1,251,334,598 | € 1,246,198,089 | € 1,255,968,936 | € 1,286,624,738 | ▲ 2% |
| Total debts | € 686,501,131 | € 834,908,028 | € 960,469,269 | € 1,110,038,032 | ▲ 16% |
| Cash | € 53,045,911 | € 5,289,712 | € 1,021,429 | € 4,472,412 | ▲ € 3.5 million |
| Land & buildings | € 260,861,902 | € 267,246,690 | € 259,967,947 | € 245,495,644 | ▼ 6% |
| Retained profit | € 353,201,808 | € 341,373,660 | € 342,862,483 | € 374,569,392 | ▲ 9% |
| Bank debt | € 429,985,648 | € 594,959,802 | € 711,398,417 | € 808,447,901 | ▲ 14% |
| Balance sheet total | € 1,972,635,932 | € 2,114,179,703 | € 2,248,376,005 | € 2,419,838,250 | ▲ 8% |
| Employees (FTE) | 1,578.2 | 1,583.4 | 1,594.8 | 1,591.5 | ▼ 3.3 |
Key figures of Vlaamse Maatschappij voor Watervoorziening, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to Vlaamse Maatschappij voor Watervoorziening?
What happened at Vlaamse Maatschappij voor Watervoorziening in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Werner Jacobs stepped down as director. NBB
- Mimi Lamote stepped down as director. NBB
- Ilse Tant stepped down as director. NBB
- Dirk Van Der Stede stepped down as director. NBB
- Frank Demeyer stepped down as director. NBB
- Stijn Quaghebeur stepped down as director. NBB
- Brecht Vermeulen stepped down as director. NBB
- Luc Wouters stepped down as director. NBB
In short
From € 16.2 million loss in 2022 to € 24.1 million profit in 2025.
Best year ever: 2025, with € 24.1 million profit.
Pays suppliers within 92 days on average.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The stake of AQUAFIN comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
Vlaamse Maatschappij voor WatervoorzieningThe shares are held by Vlaamse Maatschappij voor Watervoorziening (100%) and AQUAFIN. It owns 51% of Azulatis, 50% of Waterunie Operator, 50% of Waterunie, 33.3% of Geothermal Innovation & Services (GEISER), 9.3% of KWH Water and 8.9% of Synductis itself.
Directors
According to the 2025 annual accounts
Stijn Quaghebeur
Director
Also active at: Intercommunale Maatschappij voor de Ruimtelijke Ordening en de Economisch- Sociale Expansie van het Arrondissement Halle-Vilvoorde, Creat Services, De Werkvennootschap
since 2025 · until 2030
Brecht Vermeulen
Government commissioner
Also active at: AquaFlanders, SYNDUCTIS, Waterunie, Azulatis, HET PORTAAL, HOUWELYNCKXBOSCH
since 2025 · until 2030
since 2026 · until 2030
Luc Wouters
Chairman of the board
Also active at: LIMBURG.NET, Toerisme Limburg, SYNDUCTIS, Waterunie, BIONERGA
since 2025 · until 2030
Dimitri Van Laere
Director
Also active at: Intergemeentelijk Samenwerkingsverband van het Land van Waas, Erfpunt, Autonoom Gemeentebedrijf Sport, Cultuur en Recreatie Kruibeke
since 2025 · until 2030
since 2026 · until 2030
Ingrid Lieten
Director
since 2025 · until 2030
Tom Vanderreydt
Government commissioner
since 2025 · until 2030
Frank Demeyer
Director
since 2026 · until 2030
Els Kindt
Director
Also active at: Centrum voor Informatica – Oplossingen – Ondersteuning – Overheid, Inagro, provinciaal extern verzelfstandigd agentschap in privaatrechtelijke vorm, Waterunie, Van Bruwaene - Kindt
since 2025 · until 2030
Koen Vandermeiren
Director
Also active at: Autonoom gemeentebedrijf Zemst, Projectvereniging Erfgoed Brabantse Kouters
since 2025 · until 2030
Maaike Bruynickx
Director
since 2025 · until 2030
since 2025 · until 2030
Shareholders
Participations
51%
50%
KWH Water
9.3%
8.9%
AquaMinerals
6.6%
2.9%
0.5%
0.2%
Establishments
Establishment units
Physical locations of this company
Vooruitgangstraat 189
1030 Schaarbeek
Roggelaan(Kor) 2
8500 Kortrijk
Active since 28 June 1983
Maagdestraat(Koo) 1A
8510 Kortrijk
Active since 28 June 1983
Gistelsteenweg 219
8490 Jabbeke
Active since 28 June 1983
Noordbroekstraat(W) 50
8600 Diksmuide
Active since 28 June 1983
Beneluxlaan 100
8530 Harelbeke
Active since 28 June 1983
Zedelgemsesteenweg(EER) 2
8480 Ichtegem
Active since 28 June 1983
Westlaan 9
8560 Wevelgem
Active since 28 June 1983
Gaston Crommenlaan 4
9050 Gent
Active since 28 June 1983
Nieuweweg 30
9940 Evergem
Active since 28 June 1983
Meerskant 143
9240 Zele
Active since 28 June 1983
Nederwijk 263
9400 Ninove
Active since 28 June 1983
Nieuwendorpe ZN
9900 Eeklo
Active since 28 June 1983
Kon. Boudewijnlaan 42
9160 Lokeren
Active since 28 June 1983
Broekstraat 150
3001 Leuven
Active since 28 June 1983
Twee Leeuwenweg 3
1800 Vilvoorde
Active since 28 June 1983
Grijpenlaan 1
3300 Tienen
Active since 28 June 1983
Runkstersteenweg 208
3500 Hasselt
Active since 28 June 1983
De Roosen 15
3910 Pelt
Active since 28 June 1983
Watertorenstraat 17
3550 Heusden-Zolder
Active since 28 June 1983
Kantonnale Baan 3
3665 As
Active since 28 June 1983
Hasseltsestraat 34
3740 Bilzen-Hoeselt
Active since 28 June 1983
Technologielaan 23
3001 Leuven
Active since 28 June 1983
Grijpenlaan 1A
3300 Tienen
Active since 28 June 1983
Ossenwegstraat 1a
3440 Zoutleeuw
Active since 1 January 2015
Willekensmolenstraat 122
3500 Hasselt
Active since 1 June 2016
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 2 companies are registered at this address.
All companies at this address →What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0224.771.467
- VAT number
- BE 0224.771.467
- Registered office
- Vooruitgangstraat 189, 1030 Schaarbeek
- Names & denominations
- Vlaamse Maatschappij voor Watervoorziening · De Watergroep
- Enterprise type
- Rechtspersoon
- Legal form
- Coöperatieve vennootschap van publiek recht
- Legal situation
- Normale toestand
- Start date
- 28 June 1983
- Peppol
- Active · Active since 15 Dec 2025
- Activities · NACE
Winning, behandeling en distributie van water
Winning, zuivering en distributie van water
Afvalwaterafvoer