ACTIVE

DE VLAAMSE WATERWEG

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Financial year 2025 · Closed on 31/12/2025

Net result-30,1 M €-342,2 %over 1 year

Revenue61,6 M €+4,1 %over 1 year

Equity3,2 Md €+2,4 %over 1 year

Workforce1 229,4 ETP-1,8 %over 1 year

Identity

Source · BCE/KBO

DE VLAAMSE WATERWEG is a Public limited company incorporated in 1976. Its main activity is: Service activities incidental to water transportation. Its registered office is in Hasselt. It employs on average 1 229,4 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0216.173.309
Incorporation: 30/06/1976
Legal form: Public limited company
Registered office: Havenstraat 44
3500 Hasselt · FlandreSee on map
Contributed capital: 7 888 750,00 €
Latest accounts: 31/12/2025
Average workforce: 1 229,4 ETP

Activities (NACE)

52220Service activities incidental to water transportation· main 52220Service activities incidental to water transportation 63220Information service activities

Signals

Solid equityLow riskGood liquidityPositive cashflowHealthy social debtsHigh revenue

Financials

Source · NBB, 24 filings

Trend over 19 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	61,6 M €	+4.1%	59,2 M €	+6.4%	55,6 M €	+2.0%	54,5 M €	+15.9%	47 M €
EBITDA	-25,6 M €	-325%	-6 M €	-135%	17,2 M €	+321%	4,1 M €	-22.2%	5,2 M €
Operating result	-118,7 M €	-18.6%	-100,1 M €	-23.5%	-81 M €	-4.5%	-77,6 M €	-13.8%	-68,1 M €
Net result	-30,1 M €	-342%	-6,8 M €	-231%	5,2 M €	+323%	-2,3 M €	-154%	4,3 M €
Balance sheet
Equity	3,2 Md €	+2.4%	3,1 Md €	+1.1%	3,1 Md €	+8.5%	2,9 Md €	+9.9%	2,6 Md €
Total assets	3,4 Md €	+2.6%	3,3 Md €	+0.5%	3,3 Md €	+5.0%	3,1 Md €	+13.4%	2,8 Md €
Cash	31,8 k €	-9.1%	35 k €	-99.9%	61,3 M €	+135671%	45,2 k €	-99.6%	10,4 M €
Debts	133,4 M €	+6.3%	125,5 M €	-10.1%	139,5 M €	-40.3%	233,8 M €	+87.0%	125,1 M €
Other
Workforce	1 229,4 ETP	-1.8%	1 251,4 ETP	+0.9%	1 240,8 ETP	+4.4%	1 188,4 ETP	-7.0%	1 277,2 ETP

Valuation

Indicative valuation

As an indication, this company is worth

more than 1.000 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

15 active · 157 ended

Active mandates

Anne-Marie Baeyaert

Director

Active

Aurélie Vermeir

Director

Active

Baudewijn Vancoillie

Director

Active

Daan Schalck

Director

Active

Frederiek Vermeulen

Government commissioner

Active

Jessie De Weyer

Director

Active

Joke Schauvliege

Vice-chairman of the board of directors

Active

Koen Derkinderen

Government commissioner

Active

Lieve Van de Water

Director

Active

Maarten De Veuster

Director

Active

Maxim Veys

Chairman of the board of directors

Active

Pascal Vranken

Director

Active

Raf Terwingen

Director

Active

Willy Claes

Director

Active

Yann Van Rompaey

Director

Active

Ended mandates

Lieve Van de Water

Director · since 01 janvier 2023

Ended

Koen Derkinderen

Mandate · since 01 septembre 2018 · until 11 mars 2020

Ended

Patrick Moenaert

Mandate · since 01 septembre 2018 · until 11 mars 2020

Ended

Alexandra D'Archambeau

Director · since 01 janvier 2018 · until 18 décembre 2018

Ended

Full financial information

Source · NBB

	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	11/06/2025	11/06/2024	27/10/2023	18/10/2022	14/07/2021
General meeting	27/05/2026	21/05/2025	22/05/2024	24/05/2023	25/05/2022	26/05/2021
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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 24 filings

Model	Closing	General meeting	Filed	Language	Document
Full model	31/12/2025	27/05/2026	26/06/2026	Dutch	PDF
Full model	31/12/2024	21/05/2025	11/06/2025	Dutch	PDF
Full model	31/12/2023	22/05/2024	11/06/2024	Dutch	PDF
Full modelCorrection	31/12/2022	24/05/2023	27/10/2023	Dutch	PDF
Full model	31/12/2022	24/05/2023	01/06/2023	Dutch	PDF
Full modelCorrection	31/12/2021	25/05/2022	18/10/2022	Dutch	PDF
Full model	31/12/2021	25/05/2022	21/06/2022	Dutch	PDF
Full modelCorrection	31/12/2020	26/05/2021	14/07/2021	Dutch	PDF
Full model	31/12/2020	26/05/2021	22/06/2021	Dutch	PDF
Full modelCorrection	31/12/2019	27/05/2020	14/09/2020	Dutch	PDF
Full model	31/12/2019	27/05/2020	25/06/2020	Dutch	PDF
Full model	31/12/2018	22/05/2019	04/06/2019	Dutch	PDF
Full model	31/12/2017	09/05/2018	29/05/2018	Dutch	PDF
Full model	31/12/2016	31/05/2017	13/06/2017	Dutch	PDF
Full model	31/12/2015	25/05/2016	31/05/2016	Dutch	PDF
Full model	31/12/2014	21/05/2015	26/05/2015	Dutch	PDF
Full model	31/12/2013	21/05/2014	30/05/2014	Dutch	PDF
Full model	31/12/2012	15/05/2013	22/05/2013	Dutch	PDF
Full model	31/12/2011	23/05/2012	30/05/2012	Dutch	PDF
Full model	31/12/2010	18/05/2011	23/05/2011	Dutch	PDF
Full model	31/12/2009	19/05/2010	23/06/2010	Dutch	PDF
Full model	31/12/2008	27/05/2009	11/06/2009	Dutch	PDF
Full model	31/12/2007	28/05/2008	01/07/2008	Dutch	PDF
Full model	31/12/2006	23/05/2007	31/05/2007	Dutch	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

more than 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.

Board of directors

Source · NBB, accounts to 31/12/2025

15 active · 157 ended

Active mandates

Anne-Marie Baeyaert

Director

Active

Aurélie Vermeir

Director

Active

Baudewijn Vancoillie

Director

Active

Daan Schalck

Director

Active

Frederiek Vermeulen

Government commissioner

Active

Jessie De Weyer

Director

Active

Joke Schauvliege

Vice-chairman of the board of directors

Active

Koen Derkinderen

Government commissioner

Active

Lieve Van de Water

Director

Active

Maarten De Veuster

Director

Active

Maxim Veys

Chairman of the board of directors

Active

Pascal Vranken

Director

Active

Raf Terwingen

Director

Active

Willy Claes

Director

Active

Yann Van Rompaey

Director

Active

Ended mandates

Lieve Van de Water

Director · since 01 janvier 2023

Ended

Koen Derkinderen

Mandate · since 01 septembre 2018 · until 11 mars 2020

Ended

Patrick Moenaert

Mandate · since 01 septembre 2018 · until 11 mars 2020

Ended

Alexandra D'Archambeau

Director · since 01 janvier 2018 · until 18 décembre 2018

Ended

Ownership and network

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Try for free

Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates18/02/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates14/03/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates23/06/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates20/02/2023
ONTSLAGEN - BENOEMINGEN
PDF
Mandates03/03/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates22/09/2020
ONTSLAGEN - BENOEMINGEN
PDF
Other08/06/2020
STATUTEN (VERTALING, COÖRDINATIE, OVERIGE WIJZIGINGEN, )
PDF
Mandates12/03/2019
ONTSLAGEN - BENOEMINGEN
PDF

Similar companies

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

See the Business plan

Timeline

2025
Annual accounts 2025-30,1 M €↓
03/10/2025
nominationFilip Boelaert — gedelegeerd bestuurder
18/07/2025
nominationDaan Schalck — onafhankelijk bestuurder
18/07/2025
nominationPascal Vrancken — onafhankelijk bestuurder
18/07/2025
nominationBaudewijn Vancoillie — onafhankelijk bestuurder
18/07/2025
nominationannemie Baeyaert — onafhankelijk bestuurder
18/07/2025
nominationYann Van Rompaey — onafhankelijk bestuurder
04/04/2025
nominationMaarten De Veuster — lid van de raad van bestuur
04/04/2025
nominationJessie De Weyer — lid van de raad van bestuur
04/04/2025
nominationAurélie Vermeir — lid van de raad van bestuur
04/04/2025
nominationMaxim Veys — lid van de raad van bestuur
04/04/2025
nominationWilly Claes — lid van de raad van bestuur
04/04/2025
nominationRaf Terwingen — lid van de raad van bestuur
04/04/2025
nominationJoke Schauvliege — lid van de raad van bestuur
04/04/2025
nominationLieve Van de Water — lid van de raad van bestuur
2024
Annual accounts 2024-6,8 M €↓
01/11/2024
nominationKrista Maes — waarnemend gedelegeerd bestuurder
2023
Annual accounts 20235,2 M €↑
01/01/2023
nominationCallens, Pirenne, Theunissen & Co BV — commisaris revisor
2022
Annual accounts 2022-2,3 M €↓
16/12/2022
nominationLieve Van de Water — lid van de raad van bestuur
22/04/2022
nominationJoske Dexters — lid van de raad van bestuur
2021
Annual accounts 20214,3 M €↑
2020
Annual accounts 20202,3 M €↑
2019
Annual accounts 2019-2,4 M €↓
2017
Annual accounts 2017881 k €↓
2016
Annual accounts 20163,9 M €↑
2016
Name changeDe Vlaamse Waterweg
2015
Annual accounts 20151,1 M €↓
2014
Annual accounts 20142,8 M €↑
2013
Annual accounts 20132,5 M €↓
2012
Annual accounts 20125,5 M €↑
2011
Annual accounts 2011-2,7 M €↓
2010
Annual accounts 2010-1,8 M €↑
2009
Annual accounts 2009-3 M €↓
2008
Annual accounts 20081,8 M €↑
2007
Annual accounts 2007-1,1 M €↓
2006
Annual accounts 200653 k €
2006
Name changeDE SCHEEPVAART
30/06/1976
IncorporationPublic limited company

DE VLAAMSE WATERWEG

Overview

Identity

Financials

Valuation

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

Timeline