ACTIVE

Pidpa

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Financial year 2025 · closed on 31/12/2025

Net result

31,3 M €

+253.6% YoY

Revenue

402,7 M €

+27.8% YoY

Equity

859,3 M €

+5.2% YoY

Workforce

715,6 ETP

+0.4% YoY

What does Pidpa do?

Pidpa is a Project leader organization, Flemish Region incorporated in 1968. Its main activity is: Water collection, treatment and supply. Its registered office is in Grobbendonk. It employs on average 715,6 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0204.908.936

Incorporation

01/01/1968

Legal form

Project leader organization, Flemish Region

Registered office

Vierselse baan 5
2280 Grobbendonk · FlandreSee on map

Contributed capital

19 377 372,62 €

Latest accounts

31/12/2025

Average workforce

715,6 ETP

Activities (NACE)

36000Water collection, treatment and supply· main 36000Water collection, treatment and supply 41000Construction of buildings

Signals

ProfitableSolid equityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

View the BCE/KBO Public Search record →

Health score

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Recommended credit limit

✦ Verdict · Analyst summary

Financials

Trend over 20 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	402,7 M €	+27.8%	315,1 M €	+4.9%	300,3 M €	+4.5%	287,3 M €	+5.7%	272 M €	-3.2%	281 M €	+7.0%	262,5 M €	+1.5%	258,7 M €	+5.9%	244,3 M €	+7.9%	226,3 M €	+0.8%	224,6 M €	+12.8%	199 M €	-0.9%	200,8 M €	+4.2%	192,6 M €	+2.9%	187,2 M €	+4.0%	179,9 M €	-4.3%	188 M €	+12.7%	166,9 M €	+5.8%	157,8 M €	+3.0%	153,1 M €
EBITDA	123,4 M €	+66.0%	74,4 M €	+13.5%	65,5 M €	-0.9%	66,1 M €	+1.2%	65,3 M €	-1.3%	66,2 M €	+9.7%	60,3 M €	-3.7%	62,7 M €	+1870%	-3,5 M €	-108%	44,6 M €	-1.2%	45,2 M €	+24.4%	36,3 M €	-3.6%	37,7 M €	+1.9%	37 M €	-0.3%	37,1 M €	+1.0%	36,7 M €	+22.6%	29,9 M €	+13.2%	26,4 M €	+5.3%	25,1 M €	-5.6%	26,6 M €
Operating result	34,7 M €	+253%	-22,7 M €	-1513%	-1,4 M €	-113%	11 M €	-42.9%	19,2 M €	-6.4%	20,5 M €	+85.2%	11,1 M €	-11.6%	12,5 M €	+126%	-48,2 M €	-967%	5,6 M €	-49.6%	11 M €	+36.1%	8,1 M €	+171%	3 M €	-52.3%	6,3 M €	-42.9%	11 M €	-8.6%	12,1 M €	+118%	5,5 M €	+371%	1,2 M €	-63.5%	3,2 M €	-55.7%	7,3 M €
Net result	31,3 M €	+254%	-20,4 M €	-3187%	660,7 k €	-94.8%	12,7 M €	-39.3%	21 M €	-6.6%	22,5 M €	+30.7%	17,2 M €	+14.1%	15,1 M €	+134%	-44,2 M €	-626%	8,4 M €	-39.1%	13,8 M €	+38.2%	10 M €	+38.2%	7,2 M €	-20.7%	9,1 M €	-29.4%	12,9 M €	+0.5%	12,9 M €	+37.7%	9,3 M €	+88.7%	4,9 M €	-23.1%	6,4 M €	-40.1%	10,7 M €
Balance sheet
Equity	859,3 M €	+5.2%	817,2 M €	-0.1%	817,8 M €	+1.1%	809,1 M €	+3.0%	785,8 M €	+3.4%	760,2 M €	+3.8%	732,5 M €	+4.7%	699,7 M €	+2.8%	681 M €	-5.5%	720,2 M €	+167%	269,7 M €	+7.8%	250,2 M €	+8.8%	229,9 M €	+5.9%	217,1 M €	+11.2%	195,2 M €	+8.8%	179,3 M €	+8.1%	165,9 M €	+5.3%	157,5 M €	+2.6%	153,5 M €	+3.8%	147,9 M €
Total assets	1,6 Md €	+8.6%	1,5 Md €	+4.7%	1,4 Md €	+8.8%	1,3 Md €	+7.4%	1,2 Md €	+4.7%	1,1 Md €	+3.6%	1,1 Md €	+6.0%	1 Md €	+1.8%	1 Md €	+1.7%	1 Md €	+80.0%	560,3 M €	+6.2%	527,8 M €	-0.5%	530,6 M €	+4.2%	509,2 M €	+18.8%	428,6 M €	+6.1%	403,9 M €	+5.9%	381,3 M €	-5.1%	401,6 M €	-7.1%	432,3 M €	+28.0%	337,8 M €
Cash	14,8 M €	+214%	4,7 M €	-11.7%	5,4 M €	-28.3%	7,5 M €	-18.2%	9,1 M €	-33.2%	13,7 M €	-54.5%	30 M €	+48.9%	20,1 M €	-15.5%	23,8 M €	-1.5%	24,2 M €	-17.0%	29,2 M €	+59.9%	18,2 M €	-54.0%	39,7 M €	+29.8%	30,6 M €	+442%	5,6 M €	-72.0%	20,2 M €	-36.0%	31,5 M €	+2234%	1,3 M €	+221%	420,5 k €	-64.4%	1,2 M €
Debts	532,7 M €	+12.4%	473,9 M €	+15.0%	412 M €	+34.1%	307,3 M €	+33.2%	230,7 M €	+13.4%	203,4 M €	-2.2%	207,9 M €	+14.2%	182,1 M €	+2.8%	177,2 M €	-4.6%	185,8 M €	-5.4%	196,4 M €	+3.1%	190,5 M €	-6.9%	204,5 M €	+10.6%	184,8 M €	+26.8%	145,8 M €	+5.9%	137,7 M €	+17.3%	117,4 M €	+0.1%	117,3 M €	-23.4%	153,2 M €	+63.5%	93,7 M €
Other
Workforce	715,6 ETP	+0.4%	712,5 ETP	+1.2%	704,2 ETP	-1.6%	715,4 ETP	+3.4%	691,7 ETP	+3.7%	667,2 ETP	+1.0%	660,3 ETP	+1.9%	648,0 ETP	+1.4%	639,2 ETP	+1.8%	628,0 ETP	-1.1%	634,7 ETP	-1.6%	644,9 ETP	-1.6%	655,7 ETP	-0.4%	658,4 ETP	0.0%	658,4 ETP	-0.1%	659,3 ETP	+0.8%	654,1 ETP	+2.0%	641,4 ETP	+5.3%	609,1 ETP	+5.1%	579,8 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 500 M€ and 1.000 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 16 active · 239 ended

Active mandates

Danny Van de Velde

Director · since 28 mars 2025

Active

David Geerts

Director · since 28 mars 2025

Active

Guy Echelpoels

Director · since 28 mars 2025

Active

Hans De Groof

Director · since 28 mars 2025

Active

Inge Bruynooghe

Director · since 28 mars 2025

Active

Ingrid Meulders

Director · since 28 mars 2025

Active

Jeroen De Jonghe

Director · since 28 mars 2025

Active

Kathleen Helsen

Director · since 28 mars 2025

Active

Katrien Somers

Director · since 28 mars 2025

Active

Kris Verbeeck

Director · since 28 mars 2025

Active

Lukas Jacobs

Director · since 28 mars 2025

Active

Nathalie Obbers

Director · since 28 mars 2025

Active

Peter Hannes

Director · since 28 mars 2025

Active

Kris Gebruers

Director

Active

Mieke Van den Brande

Chairman of the board of directors

Active

Sven Deckers

Bestuurder met raadgevende stem

Active

Ended mandates

Liesbeth Bardyn

Director · since 01 janvier 2023

Ended

Jenne Meyvis

Director · since 01 janvier 2022

Ended

Kris Hapers

Bestuurder met raadgevende stem · since 01 janvier 2022

Ended

Achiel Luyten

Director

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Full model	Full model	Full model	Full model	Full model	Full model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	02/07/2026	01/07/2025	25/04/2025	26/06/2023	04/07/2022	28/06/2021
General meeting	26/06/2026	27/06/2025	28/06/2024	16/06/2023	24/06/2022	18/06/2021
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

52 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	26/06/2026	02/07/2026	Dutch	PDF
Full model	31/12/2024	27/06/2025	01/07/2025	Dutch	PDF
Full modelCorrection	31/12/2023	28/06/2024	25/04/2025	Dutch	PDF
Full model	31/12/2023	28/06/2024	22/07/2024	Dutch	PDF
Full model	31/12/2022	16/06/2023	26/06/2023	Dutch	PDF
Full model	31/12/2021	24/06/2022	04/07/2022	Dutch	PDF
Full model	31/12/2020	18/06/2021	28/06/2021	Dutch	PDF
Full model	31/12/2019	19/06/2020	29/06/2020	Dutch	PDF
Full model	31/12/2018	21/06/2019	01/07/2019	Dutch	PDF
Full model	31/12/2017	18/06/2018	29/06/2018	Dutch	PDF
Full model	31/12/2016	19/06/2017	30/06/2017	Dutch	PDF
Full model	31/12/2015	20/06/2016	05/07/2016	Dutch	PDF
Full model	31/12/2014	15/06/2015	23/06/2015	Dutch	PDF
Full model	31/12/2013	16/06/2014	20/06/2014	Dutch	PDF
Full model	31/12/2012	17/06/2013	01/07/2013	Dutch	PDF
Full model	31/12/2011	18/06/2012	29/06/2012	Dutch	PDF
Full model	31/12/2010	20/06/2011	12/07/2011	Dutch	PDF
Full model	31/12/2009	21/06/2010	14/07/2010	Dutch	PDF
Full model	31/12/2008	22/06/2009	13/07/2009	Dutch	PDF
Full model	31/12/2007	16/06/2008	07/07/2008	Dutch	PDF
Full model	31/12/2006	18/06/2007	05/07/2007	Dutch	PDF
Full modelCorrection	31/12/2005	19/06/2006	13/09/2006	Dutch	PDF
Full model	31/12/2005	19/06/2006	05/07/2006	Dutch	PDF
Full model	31/12/2004	20/06/2005	19/07/2005	Dutch	PDF

View all 52 filings

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 500 M€ and 1.000 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan

Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 16 active · 239 ended

Active mandates

Danny Van de Velde

Director · since 28 mars 2025

Active

David Geerts

Director · since 28 mars 2025

Active

Guy Echelpoels

Director · since 28 mars 2025

Active

Hans De Groof

Director · since 28 mars 2025

Active

Inge Bruynooghe

Director · since 28 mars 2025

Active

Ingrid Meulders

Director · since 28 mars 2025

Active

Jeroen De Jonghe

Director · since 28 mars 2025

Active

Kathleen Helsen

Director · since 28 mars 2025

Active

Katrien Somers

Director · since 28 mars 2025

Active

Kris Verbeeck

Director · since 28 mars 2025

Active

Lukas Jacobs

Director · since 28 mars 2025

Active

Nathalie Obbers

Director · since 28 mars 2025

Active

Peter Hannes

Director · since 28 mars 2025

Active

Kris Gebruers

Director

Active

Mieke Van den Brande

Chairman of the board of directors

Active

Sven Deckers

Bestuurder met raadgevende stem

Active

Ended mandates

Liesbeth Bardyn

Director · since 01 janvier 2023

Ended

Jenne Meyvis

Director · since 01 janvier 2022

Ended

Kris Hapers

Bestuurder met raadgevende stem · since 01 janvier 2022

Ended

Achiel Luyten

Director

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates02/06/2025
ONTSLAGEN - BENOEMINGEN - STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Restructuring21/11/2023
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Capital / shares06/04/2023
KAPITAAL - AANDELEN
PDF
Capital / shares06/04/2023
KAPITAAL - AANDELEN
PDF
Capital / shares06/04/2023
KAPITAAL - AANDELEN
PDF
Capital / shares06/04/2023
KAPITAAL - AANDELEN
PDF
Capital / shares06/04/2023
KAPITAAL - AANDELEN
PDF
Capital / shares06/04/2023
KAPITAAL - AANDELEN
PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 202531,3 M €↑
2024
Annual accounts 2024-20,4 M €↓
2023
Annual accounts 2023660,7 k €↓
17/01/2023
augmentation_capital
2022
Annual accounts 202212,7 M €↓
2021
Annual accounts 202121 M €↓
05/05/2021
augmentation_capital
28/04/2021
augmentation_capital
2020
Annual accounts 202022,5 M €↑
2019
Annual accounts 201917,2 M €↑
2018
Annual accounts 201815,1 M €↑
2017
Annual accounts 2017-44,2 M €↓
2016
Annual accounts 20168,4 M €↓
2015
Annual accounts 201513,8 M €↑
03/12/2015
apport
03/12/2015
augmentation_capital
2014
Annual accounts 201410 M €↑
2013
Annual accounts 20137,2 M €↓
2012
Annual accounts 20129,1 M €↓
2011
Annual accounts 201112,9 M €↑
2010
Annual accounts 201012,9 M €↑
2009
Annual accounts 20099,3 M €↑
2008
Annual accounts 20084,9 M €↓
2007
Annual accounts 20076,4 M €↓
2006
Annual accounts 200610,7 M €
01/01/1968
IncorporationProject leader organization, Flemish Region

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

Pidpa

Overview

What does Pidpa do?

Trend over 20 financial years

Indicative valuation

Board of directors

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline