Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 34 % of short-term debt in 2025; threshold 65 %.
Financials
Financial year 2025
AQUIRIS from Brussel, company number BE0475443124, closed financial year 2025 with a result of € 4.9 million after tax. For that financial year AQUIRIS recorded revenue of € 55.3 million and equity of € 7.6 million. Compared with financial year 2024, the result moved from € 1.1 million to € 4.9 million. Profitable, and profit is growing. The company holds a healthy buffer. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on July 24, 2026.
€ 7.6 million
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 4.9 million
▲ € 3.7 million vs 2024
Profit after tax over the fiscal year.
€ 26,369
▲ 173% vs 2024
Cash and bank balances on the last day of the fiscal year.
€ 4.9 million paid out
100 % of the profit went to the shareholders, mostly to Veolia Water (97 % of the shares). That is where the money ends up.
People and assets in 2025
62
▼ 4.8 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 5.8 million
▼ 4% vs 2024
€ 93,100 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.
€ 47,978
▼ 50% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 33.1 million
▼ 33% vs 2024
€ 6.6 million is repaid this year. At this pace the long-term loan is gone in ≈ 1 years.
€ 7.8 million
▲ 2% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 100 days on average.
€ 7.1 million
▲ 3% vs 2024
Taxes, VAT and social contributions still to pay.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 53,609,357 | € 54,539,652 | € 54,217,274 | € 55,272,688 | ▲ 2% |
| Profit after taxes | € 5,554,066 | € 1,595,642 | € 1,140,054 | € 4,867,234 | ▲ € 3.7 million |
| Equity | € 7,590,000 | € 7,590,000 | € 7,590,000 | € 7,590,000 | |
| Total debts | € 95,770,405 | € 81,976,928 | € 70,636,926 | € 55,364,185 | ▼ 22% |
| Cash | € 31,349,430 | € 29,854,736 | € 9,668 | € 26,369 | ▲ 173% |
| Land & buildings | € 48,791,715 | € 37,067,384 | € 25,343,053 | € 13,618,722 | ▼ 46% |
| Retained profit | € 690,000 | € 690,000 | € 690,000 | € 690,000 | |
| Dividend | € 5,554,066 | € 1,595,642 | € 1,140,054 | € 4,867,234 | ▲ € 3.7 million |
| Bank debt | € 60,914,967 | € 56,880,586 | € 49,798,992 | € 33,137,084 | ▼ 33% |
| Balance sheet total | € 106,312,289 | € 93,050,475 | € 82,314,866 | € 67,754,823 | ▼ 18% |
| Employees (FTE) | 60.8 | 55.3 | 66.8 | 62 | ▼ 4.8 |
Key figures of AQUIRIS, 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 AQUIRIS?
What happened at AQUIRIS in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Franck Arlen stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 4.9 million (▲ € 3.7 million vs 2024). Source: NBB ↗
- B-Consult SA stepped down as director. NBB
- Philippe Seberac stepped down as director. NBB
- Eric Trodoux stepped down as director. NBB
- Patrick Couzinet stepped down as director. NBB
- Philippe Tychon stepped down as director. NBB
- Philippe Seberac became a director. NBB
In short
From € 5.6 million profit in 2022 to € 4.9 million profit in 2025.
Paid € 5.8 million in corporate taxes since 2022.
Best year ever: 2022, with € 5.6 million profit.
Paid out € 13.2 million in dividends to the owners in total.
A new publication or filing at AQUIRIS? We notify you, reason included.
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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 shares are held by Veolia Water (97%), Veolia Water Technologies (2%) and Denys SA (1%).
Directors
According to the 2025 annual accounts
B-Consult SA
Director · represented by Jean-Marie Boudet
since 2023 · until 2026
Franck Arlen
Managing director
Also active at: VEOLIA NV-SA, Relaitron, COWALEX, Sede Benelux, ENERGY CLUSTER, FILAO, Flexcity Belgium
since 2025 · until 2031
Philippe Seberac
Vice-chairman of the board
since 2025 · until 2026
Eric Trodoux
Director
Also active at: Veolia Environmental Services Belux, PCB Decontamination, Veolia Treatment & Recycling BE, RECYFUEL, Slib-en Co - Verwerkings Centrale, FILAO, UVELIA, OILCO
since 2023 · until 2026
Patrick Couzinet
Chairman of the board
since 2023 · until 2026
Philippe Tychon
Managing director
Also active at: VEOLIA NV-SA, Relaitron, Veolia Environmental Services Wallonie, SOCIETE DE GESTION DE LA CITE ADMINISTRATIVE DE L'ETAT A BRUXELLES, HYDRO CLEANING INTERNATIONAL, NOMOS, Denuo, Sede Benelux +7 more
since 2023 · until 2026
Shareholders
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Vilvoordselaan 450
1130 Brussel
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0475.443.124
- VAT number
- BE 0475.443.124
- Registered office
- Vilvoordselaan 450, 1130 Brussel
- Names & denominations
- AQUIRIS
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 8 August 2001
- Peppol
- Active · Active since 1 Jan 2001
- Activities · NACE
Winning, behandeling en distributie van water
Winning, zuivering en distributie van water