ACTIVE

FLUVIUS Antwerpen

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Financial year 2025 · closed on 31/12/2025

Net result

28,5 M €

+421.5% YoY

Revenue

430,9 M €

+18.4% YoY

Equity

755,4 M €

-2.8% YoY

What does FLUVIUS Antwerpen do?

FLUVIUS Antwerpen is a Project leader organization, Flemish Region incorporated in 1972. Its main activity is: Production of electricity. Its registered office is in Antwerpen.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0212.704.370

Incorporation

24/11/1972

Legal form

Project leader organization, Flemish Region

Registered office

Merksemsesteenweg 233
2100 Antwerpen · FlandreSee on map

Contributed capital

404 513 782,55 €

Latest accounts

31/12/2025

Activities (NACE)

35110Production of electricity· main 35110Production of electricity 40110Production d'électricité 35220Distribution of gaseous fuels through mains 35220Distribution of gaseous fuels through mains 37000Sewerage+2

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHigh revenue

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008		2007		2006
Income statement
Revenue	430,9 M €	+18.4%	364 M €	-1.4%	369,3 M €	-2.7%	379,5 M €	-10.7%	425,2 M €	+392%	86,5 M €	-0.9%	87,3 M €	-3.6%	90,5 M €	-2.9%	93,2 M €	+7.1%	87 M €	+10.4%	78,8 M €	-2.5%	80,9 M €	+30.6%	61,9 M €	+19.0%	52,1 M €	+5.3%	49,4 M €	+4.2%	47,4 M €	-0.7%	47,8 M €	+1.6%	47 M €
EBITDA	142,9 M €	+32.7%	107,7 M €	+8.3%	99,4 M €	-16.2%	118,6 M €	+1.1%	117,3 M €	+763%	13,6 M €	-46.7%	25,5 M €	-10.1%	28,4 M €	+5.0%	27 M €	-1.4%	27,4 M €	+15.8%	23,7 M €	+5.3%	22,5 M €	+9.4%	20,5 M €	+31.9%	15,6 M €	-14.7%	18,3 M €	-1.1%	18,5 M €	+8.5%	17 M €	+11.2%	15,3 M €
Operating result	63,3 M €	+115%	29,4 M €	+46.9%	20 M €	-61.5%	52 M €	-4.8%	54,7 M €	+2414%	2,2 M €	-84.5%	14,1 M €	-20.3%	17,7 M €	+6.7%	16,6 M €	-7.0%	17,8 M €	+27.0%	14 M €	+5.2%	13,3 M €	+7.5%	12,4 M €	+54.3%	8 M €	-20.0%	10 M €	-9.3%	11,1 M €	+17.0%	9,5 M €	+28.0%	7,4 M €
Net result	28,5 M €	+422%	5,5 M €	-79.2%	26,3 M €	-27.9%	36,4 M €	-3.8%	37,9 M €	+15165%	-251,3 k €	-104%	6,6 M €	-32.3%	9,8 M €	+19.1%	8,2 M €	-44.1%	14,7 M €	+49.8%	9,8 M €	-0.5%	9,9 M €	-19.6%	12,3 M €	+94.7%	6,3 M €	-26.0%	8,5 M €	+13.9%	7,5 M €	-14.5%	8,8 M €	+30.9%	6,7 M €
Balance sheet
Equity	755,4 M €	-2.8%	777,1 M €	-2.6%	798 M €	+0.2%	796,3 M €	+2.8%	774,9 M €	+308%	189,9 M €	-2.8%	195,2 M €	+0.9%	193,6 M €	+2.3%	189,2 M €	+13.1%	167,2 M €	-1.2%	169,2 M €	+2.6%	165 M €	+7.8%	153 M €	+14.1%	134,2 M €	-11.8%	152,1 M €	+12.6%	135,1 M €	+18.5%	113,9 M €	+2.0%	111,7 M €
Total assets	2,5 Md €	+7.0%	2,3 Md €	+7.7%	2,1 Md €	+8.7%	2 Md €	+3.9%	1,9 Md €	+460%	336,6 M €	+1.3%	332,4 M €	-4.4%	347,7 M €	-1.3%	352,2 M €	+7.0%	329,1 M €	+8.2%	304,3 M €	+5.7%	287,9 M €	+12.3%	256,5 M €	+28.7%	199,2 M €	-10.1%	221,6 M €	+15.7%	191,4 M €	+12.5%	170,1 M €	-3.0%	175,4 M €
Cash	1,5 k €	-47.9%	2,8 k €	-5.5%	3 k €	-80.2%	15,2 k €	+53.1%	9,9 k €	-94.3%	173,9 k €	-98.3%	10,2 M €	+753%	1,2 M €	+2594%	44,4 k €	-79.2%	213,7 k €	-25.7%	287,4 k €	+69.8%	169,3 k €	-80.3%	858,1 k €	+451%	155,8 k €	-41.9%	267,9 k €	-28.8%	376,1 k €	-9.3%	414,5 k €	-55.6%	934,5 k €
Debts	1,6 Md €	+10.7%	1,5 Md €	+14.0%	1,3 Md €	+15.7%	1,1 Md €	+7.8%	1 Md €	+811%	113,4 M €	-5.1%	119,5 M €	-15.1%	140,7 M €	-2.3%	144,1 M €	+0.4%	143,5 M €	+27.1%	112,9 M €	+14.5%	98,6 M €	+18.8%	83 M €	+73.1%	47,9 M €	-19.7%	59,7 M €	+17.4%	50,9 M €	-0.2%	51 M €	-13.9%	59,2 M €
Other
Workforce	–		–		–		–		–		204,7 ETP	+6.8%	191,6 ETP	-2.2%	195,9 ETP	-6.9%	210,5 ETP	-2.4%	215,7 ETP	-3.2%	222,9 ETP	-2.5%	228,5 ETP	+11.9%	204,2 ETP	+15.7%	176,5 ETP	+6.4%	165,9 ETP	+0.9%	164,5 ETP	-4.1%	171,5 ETP	+1.1%	169,6 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 16 active · 240 ended

Active mandates

Ann De Smedt

Director · since 19 mars 2025

Active

Geert Antonio

Director · since 19 mars 2025

Active

Ingrid Meulders

Director · since 19 mars 2025

Active

Ken Casier

Director · since 19 mars 2025

Active

Luc Bouckaert

Director · since 19 mars 2025

Active

Maarten Janssens

Director · since 19 mars 2025

Active

Patrick Janssens

Vice-chairman of the board of directors · since 19 mars 2025

Active

Wouter Patho

Director · since 19 mars 2025

Active

Charlie Van Leuffel

Director · since 08 septembre 2021

Active

Frank Gys

Director · since 01 janvier 2020

Active

Adinda Van Gerven

Director · since 27 mars 2019

Active

Chris De Vos

Director · since 27 mars 2019

Active

Dirk Bauwens

Director · since 27 mars 2019

Active

Koen Kennis

Chairman of the board of directors · since 27 mars 2019

Active

Luc Janssens

Director · since 27 mars 2019

Active

Sven Deckers

Bestuurder met raadgevende stem · since 27 mars 2019

Active

Ended mandates

Dirk Wiese

Director · since 27 novembre 2024

Ended

Bart Martens

Director · since 08 mai 2024 · until 30 septembre 2024

Ended

Ellen Brits

Director · since 08 mai 2024

Ended

Rodney Talboom

Director · since 08 mai 2024

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	26/06/2026	24/06/2025	02/07/2024	26/06/2023	27/06/2022	12/07/2021
General meeting	17/06/2026	18/06/2025	12/06/2024	21/06/2023	15/06/2022	23/06/2021
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

20 filings with the NBB

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

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

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 · 240 ended

Active mandates

Ann De Smedt

Director · since 19 mars 2025

Active

Geert Antonio

Director · since 19 mars 2025

Active

Ingrid Meulders

Director · since 19 mars 2025

Active

Ken Casier

Director · since 19 mars 2025

Active

Luc Bouckaert

Director · since 19 mars 2025

Active

Maarten Janssens

Director · since 19 mars 2025

Active

Patrick Janssens

Vice-chairman of the board of directors · since 19 mars 2025

Active

Wouter Patho

Director · since 19 mars 2025

Active

Charlie Van Leuffel

Director · since 08 septembre 2021

Active

Frank Gys

Director · since 01 janvier 2020

Active

Adinda Van Gerven

Director · since 27 mars 2019

Active

Chris De Vos

Director · since 27 mars 2019

Active

Dirk Bauwens

Director · since 27 mars 2019

Active

Koen Kennis

Chairman of the board of directors · since 27 mars 2019

Active

Luc Janssens

Director · since 27 mars 2019

Active

Sven Deckers

Bestuurder met raadgevende stem · since 27 mars 2019

Active

Ended mandates

Dirk Wiese

Director · since 27 novembre 2024

Ended

Bart Martens

Director · since 08 mai 2024 · until 30 septembre 2024

Ended

Ellen Brits

Director · since 08 mai 2024

Ended

Rodney Talboom

Director · since 08 mai 2024

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Capital / shares29/07/2026
KAPITAAL - AANDELEN
PDF
Mandates10/07/2026
ONTSLAGEN - BENOEMINGEN
PDF
Restructuring04/02/2026
DOEL - KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring14/10/2025
RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Restructuring07/08/2025
KAPITAAL - AANDELEN - RUBRIEK HERSTRUCTURERING (FUSIE, SPLITSING, OVERDRACHT VERMOGEN, ENZ...)
PDF
Mandates28/07/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates16/05/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates24/12/2024
ONTSLAGEN - BENOEMINGEN
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

01/01/2026
split
2025
Annual accounts 202528,5 M €↑
19/03/2025
nominationKen Casier — bestuurder
19/03/2025
nominationPatrick Janssens — bestuurder
19/03/2025
nominationKoen Kennis — bestuurder
19/03/2025
nominationCharlien Van Leuffel — bestuurder
19/03/2025
nominationAnn De Smedt — bestuurder
19/03/2025
nominationAdinda Van Gerven — bestuurder
19/03/2025
nominationChris De Vos — bestuurder
19/03/2025
nominationLuc Bouckaert — bestuurder
19/03/2025
nominationLuc Janssens — bestuurder
19/03/2025
nominationWouter Patho — bestuurder
19/03/2025
nominationIngrid Meulders — bestuurder
19/03/2025
nominationGeert Antonio — bestuurder
19/03/2025
nominationDirk Bauwens — bestuurder
19/03/2025
nominationMaarten Janssens — bestuurder
19/03/2025
nominationFrank Gys — bestuurder
19/03/2025
nominationSven Deckers — lid met raadgevende stem
01/01/2025
split
01/01/2025
split
01/01/2025
split
01/01/2025
split
01/01/2025
split
01/01/2025
nominationPaul Eelen — vaste vertegenwoordiger namens EY Bedrijfsrevisoren BV (Commissaris)
01/01/2025
nominationLine Vyvey — vaste vertegenwoordiger namens EY Bedrijfsrevisoren BV (Commissaris)
2024
Annual accounts 20245,5 M €↓
27/11/2024
nominationDirk Wiesé — lid van de Raad van Bestuur
08/05/2024
nominationBart MARTENS — lid van het RBC Antwerpen
08/05/2024
nominationEllen BRITS — lid van het RBC Regio
08/05/2024
nominationWendy OVERBEEKE — lid van het regionaal bestuurscomité (RBC) Regio
08/05/2024
nominationRodney TALBOOM — lid van het regionaal bestuurscomité (RBC) Regio
01/01/2024
nominationFrank Vanbrabant — GEO
01/01/2024
nominationRaf Bellers — Directeur Netbeheer
01/01/2024
nominationTom Ceuppens — Directeur Netuitbating
01/01/2024
nominationGuy Cosyns — Directeur Klantendienst en Databeheer
01/01/2024
nominationJean Pierre Hollevoet — Directeur Energie- en Klimaattransitie
01/01/2024
nominationDavid Termont — Directeur Financieel Beheer, Legal en ICT
01/01/2024
nominationlise Van Belle — Directeur HR
01/01/2024
nominationFilip Van Rompaey — Directeur Strategie
31/12/2023
augmentation_capital
2023
Annual accounts 202326,3 M €↓
13/12/2023
apport
01/07/2023
reduction_capital
21/06/2023
nominationMarnix Van Dooren — Commissaris-revisor
2022
Annual accounts 202236,4 M €↓
2021
Annual accounts 202137,9 M €↑
2018
Annual accounts 2018-251,3 k €↓
2018
Name changeFLUVIUS ANTWERPEN
2017
Annual accounts 20176,6 M €↓
2016
Annual accounts 20169,8 M €↑
2015
Annual accounts 20158,2 M €↓
2014
Annual accounts 201414,7 M €↑
2013
Annual accounts 20139,8 M €↓
2012
Annual accounts 20129,9 M €↓
2011
Annual accounts 201112,3 M €↑
2010
Annual accounts 20106,3 M €↓
2009
Annual accounts 20098,5 M €↑
2008
Annual accounts 20087,5 M €↓
2007
Annual accounts 20078,8 M €↑
2006
Annual accounts 20066,7 M €
2006
Name changeInterkommunale voor Energie
24/11/1972
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

FLUVIUS Antwerpen

Overview

What does FLUVIUS Antwerpen do?

Trend over 18 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