ACTIVE

Vlaamse Maatschappij voor Watervoorziening

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Financial year 2025 · Closed on 31/12/2025

Net result24,1 M €+460,5 %over 1 year

Revenue974 M €+16,2 %over 1 year

Equity1,3 Md €+2,4 %over 1 year

Workforce1 591,5 ETP-0,2 %over 1 year

Identity

Source · BCE/KBO

Vlaamse Maatschappij voor Watervoorziening is a Cooperative society governed by public law incorporated in 1983. Its main activity is: Water collection, treatment and supply. Its registered office is in Schaerbeek. It employs on average 1 591,5 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0224.771.467
Incorporation: 28/06/1983
Legal form: Cooperative society governed by public law
Registered office: Rue du Progrès 189
1030 Schaerbeek · BruxellesSee on map
Contributed capital: 752 071 723,42 €
Latest accounts: 31/12/2025
Average workforce: 1 591,5 ETP

Activities (NACE)

36000Water collection, treatment and supply· main 36000Water collection, treatment and supply 41000Construction of buildings 37000Sewerage 37000Sewerage

Signals

ProfitableSolid equityLow riskPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 24 filings

Trend over 16 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	974 M €	+16.2%	838,3 M €	+5.6%	793,7 M €	+8.3%	732,9 M €	+1.8%	719,9 M €
EBITDA	131,1 M €	+34.9%	97,2 M €	+37.3%	70,8 M €	-6.8%	76 M €	-29.6%	108 M €
Operating result	36,8 M €	+3188%	1,1 M €	+106%	-17,7 M €	-4.2%	-17 M €	-176%	22,2 M €
Net result	24,1 M €	+460%	-6,7 M €	+67.3%	-20,4 M €	-26.3%	-16,2 M €	-169%	23,5 M €
Balance sheet
Equity	1,3 Md €	+2.4%	1,3 Md €	+0.8%	1,2 Md €	-0.4%	1,3 Md €	-0.3%	1,3 Md €
Total assets	2,4 Md €	+7.6%	2,2 Md €	+6.3%	2,1 Md €	+7.2%	2 Md €	+5.4%	1,9 Md €
Cash	4,5 M €	+338%	1 M €	-80.7%	5,3 M €	-90.0%	53 M €	+16.3%	45,6 M €
Debts	1,1 Md €	+15.3%	936,6 M €	+15.0%	814,6 M €	+22.2%	666,4 M €	+17.3%	568 M €
Other
Workforce	1 591,5 ETP	-0.2%	1 594,8 ETP	+0.7%	1 583,4 ETP	+0.3%	1 578,2 ETP	+0.1%	1 577,2 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 250 M€ and 500 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

15 active · 45 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Dirk Van Der Stede	Director01/01/2021 → 31/12/2030
Frank Demeyer	Director01/01/2021 → 31/12/2030
Ilse Tant	Director01/01/2021 → 31/12/2030
Mimi Lamote	Director01/01/2021 → 31/12/2030
Werner Jacobs	Director01/01/2026 → 31/12/2030
Brecht Vermeulen	Government commissioner13/06/2025 → 30/06/2030Chairman of the board of directors28/08/2020 → 30/06/2025ended
Dimitri Van Laere	Director13/06/2025 → 30/06/2030
Els Kindt	Director18/08/2024 → 30/06/2030
Ingrid Lieten	Director13/06/2025 → 30/06/2030
Koen Vandermeiren	Director13/06/2025 → 30/06/2030
Luc Wouters	Chairman of the board of directors13/06/2025 → 30/06/2030
Maaike Bruynickx	Director13/06/2025 → 30/06/2030
Mark Vos	Director13/06/2025 → 30/06/2030
Stijn Quaghebeur	Director13/06/2025 → 30/06/2030
Tom Vanderreydt	Government commissioner13/06/2025 → 30/06/2030

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Marlene Moorthamers	Director27/02/2025 → 13/06/2025
Lien Callens	Director01/01/2021 → 31/12/2025
Dirk Claes	Director28/08/2020 → 30/06/2025

Other companies at this address

Rue du Progrès 189 1030 Schaerbeek

Company	CBE no.
Geothermal Innovation & Services● Active	0785.574.789
Riopact● Active	1008.433.477

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	23/07/2026	07/07/2025	09/07/2024	04/07/2023	07/07/2022	09/07/2021
General meeting	12/06/2026	13/06/2025	14/06/2024	09/06/2023	10/06/2022	11/06/2021
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

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	12/06/2026	23/07/2026	Dutch	PDF
Full model	31/12/2024	13/06/2025	07/07/2025	Dutch	PDF
Consolidated accounts	31/12/2024	13/06/2025	04/07/2025	Dutch	PDF
Full model	31/12/2023	14/06/2024	09/07/2024	Dutch	PDF
Consolidated accounts	31/12/2023	14/06/2024	09/07/2024	Dutch	PDF
Full model	31/12/2022	09/06/2023	04/07/2023	Dutch	PDF
Consolidated accounts	31/12/2022	09/06/2023	04/07/2023	Dutch	PDF
Full model	31/12/2021	10/06/2022	07/07/2022	Dutch	PDF
Full model	31/12/2020	11/06/2021	09/07/2021	Dutch	PDF
Full model	31/12/2019	28/08/2020	21/09/2020	Dutch	PDF
Full model	31/12/2018	07/06/2019	02/07/2019	Dutch	PDF
Full model	31/12/2017	08/06/2018	28/06/2018	Dutch	PDF
Full modelCorrection	31/12/2016	09/06/2017	04/10/2017	Dutch	PDF
Full model	31/12/2016	09/06/2017	23/06/2017	Dutch	PDF
Full model	31/12/2015	10/06/2016	01/07/2016	Dutch	PDF
Full model	31/12/2014	05/06/2015	09/06/2015	Dutch	PDF
Full model	31/12/2013	13/06/2014	25/06/2014	Dutch	PDF
Full model	31/12/2012	14/06/2013	04/07/2013	Dutch	PDF
Full model	31/12/2011	15/06/2012	04/07/2012	Dutch	PDF
Full model	31/12/2010	17/06/2011	13/07/2011	Dutch	PDF
Full model	31/12/2009	18/06/2010	07/07/2010	Dutch	PDF
Full model	31/12/2008	05/06/2009	01/07/2009	Dutch	PDF
Full model	31/12/2007	06/06/2008	04/07/2008	Dutch	PDF
Full model	31/12/2006	08/06/2007	21/06/2007	Dutch	PDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 250 M€ and 500 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 · 45 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Dirk Van Der Stede	Director01/01/2021 → 31/12/2030
Frank Demeyer	Director01/01/2021 → 31/12/2030
Ilse Tant	Director01/01/2021 → 31/12/2030
Mimi Lamote	Director01/01/2021 → 31/12/2030
Werner Jacobs	Director01/01/2026 → 31/12/2030
Brecht Vermeulen	Government commissioner13/06/2025 → 30/06/2030Chairman of the board of directors28/08/2020 → 30/06/2025ended
Dimitri Van Laere	Director13/06/2025 → 30/06/2030
Els Kindt	Director18/08/2024 → 30/06/2030
Ingrid Lieten	Director13/06/2025 → 30/06/2030
Koen Vandermeiren	Director13/06/2025 → 30/06/2030
Luc Wouters	Chairman of the board of directors13/06/2025 → 30/06/2030
Maaike Bruynickx	Director13/06/2025 → 30/06/2030
Mark Vos	Director13/06/2025 → 30/06/2030
Stijn Quaghebeur	Director13/06/2025 → 30/06/2030
Tom Vanderreydt	Government commissioner13/06/2025 → 30/06/2030

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Marlene Moorthamers	Director27/02/2025 → 13/06/2025
Lien Callens	Director01/01/2021 → 31/12/2025
Dirk Claes	Director28/08/2020 → 30/06/2025

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates24/03/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates19/01/2026
ONTSLAGEN - BENOEMINGEN
PDF
Other22/10/2025
DIVERSEN
PDF
Mandates03/09/2025
ONTSLAGEN - BENOEMINGEN
PDF
Other23/07/2025
DIVERSEN
PDF
Mandates02/04/2025
ONTSLAGEN - BENOEMINGEN
PDF
Other06/02/2024
DIVERSEN
PDF
Mandates16/11/2022
ONTSLAGEN - BENOEMINGEN
PDF

Similar companies

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

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings16 filings

Mandates

Werner Jacobs

Dirk Van Der Stede

Ilse Tant

Mimi Lamote

Frank Demeyer

Mark Vos

Brecht Vermeulen

Maaike Bruynickx

Ingrid Lieten

Els Kindt

Luc Wouters

Stijn Quaghebeur

and 46 more mandates

198319841985198619871988198919901991199219931994199519961997199819992000200120022003200420052006200720082009201020112012201320142015201620172018201920202021202220232024202520262027202820292030

Vlaamse Maatschappij voor Watervoorziening

Rue du Progrès 189, 1030 Schaerbeek

Director

Government commissionerChairman of the board of directors

Director

Chairman of the board of directors

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Rue du Progrès 189, 1030 SchaerbeekCurrent	accounts 2021 → 2025	Accounts 2025 · 2026-00337161

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
Vlaamse Maatschappij voor WatervoorzieningCurrent	accounts 2010 → 2025	Accounts 2025 · 2026-00337161

Events

2025
Annual accounts 202524,1 M €↑
19/12/2025
nominationSteven Van Campenhout · vaste vertegenwoordiger van de commissaris
14/11/2025
nominationIlse Tant · bestuurder
14/11/2025
nominationDirk Van der Stede · bestuurder
14/11/2025
nominationFrank Demeyer · bestuurder
14/11/2025
nominationWerner Jacobs · bestuurder
14/11/2025
nominationMimi Lamote · bestuurder
2024
Annual accounts 2024-6,7 M €↑
2023
Annual accounts 2023-20,4 M €↓
2022
Annual accounts 2022-16,2 M €↓
2021
Annual accounts 202123,5 M €↑
2020
Annual accounts 20209,5 M €↓
2019
Annual accounts 201926,7 M €↓
2018
Annual accounts 201828 M €↓
2017
Annual accounts 201731,7 M €↑
2016
Annual accounts 201623,1 M €↓
2015
Annual accounts 201528,6 M €↑
2014
Annual accounts 20143,9 M €↓
2013
Annual accounts 201315,3 M €↑
2012
Annual accounts 20126,3 M €↑
2011
Annual accounts 2011-6,3 M €↓
2010
Annual accounts 2010-4,7 M €
28/06/1983
IncorporationCooperative society governed by public law

Vlaamse Maatschappij voor Watervoorziening

Overview

Identity

Financials

Valuation

Indicative valuation

Board of directors

Other companies at this address

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

Registered offices

Company names

Events