ACTIVE

ECOV

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Financial year 2025 · closed on 31/12/2025

Net result

602,9 k €

+288.6% YoY

Revenue

17,8 M €

-0.7% YoY

Equity

3,5 M €

+20.7% YoY

Workforce

2,6 ETP

-51.9% YoY

What does ECOV do?

ECOV is a Public limited company incorporated in 1994. Its main activity is: Sewerage. Its registered office is in Mechelen. It employs on average 2,6 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0452.683.855

Incorporation

31/03/1994

Legal form

Public limited company

Registered office

Dijle 17A
2800 Mechelen · FlandreSee on map

Contributed capital

2 500 000,00 €

Latest accounts

31/12/2025

Average workforce

2,6 ETP

Activities (NACE)

37200Sewerage· main 38210Treatment and disposal of non-hazardous waste 38323Recovery of sorted materials 46772Wholesale of waste and scrap 46872Wholesale trade, except of motor vehicles and motorcycles 51570Air transport

Joint committees (3)

Signals

ProfitableSolid equityGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

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✦ Verdict · Analyst summary

Financials

Trend over 18 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012		2011		2010		2009		2008
Income statement
Revenue	17,8 M €	-0.7%	17,9 M €	+9.4%	16,4 M €	-6.5%	17,5 M €	-0.2%	17,6 M €	+11.3%	15,8 M €	+7.5%	14,7 M €	+3.6%	14,2 M €	-5.2%	14,9 M €	+6.0%	14,1 M €	+8.4%	13 M €	-0.9%	13,1 M €	+3.3%	12,7 M €	-2.2%	13 M €	+3.8%	12,5 M €	+0.4%	12,5 M €	+7.5%	11,6 M €	-11.7%	13,1 M €
EBITDA	253,6 k €	-1.7%	257,9 k €	-36.6%	406,5 k €	-48.0%	782,4 k €	-4.8%	822,2 k €	+152%	326,9 k €	+6.7%	306,3 k €	-19.4%	379,9 k €	+34.2%	283,1 k €	-60.7%	719,9 k €	-0.2%	721,3 k €	-22.4%	929,5 k €	-16.3%	1,1 M €	+1.1%	1,1 M €	+7.4%	1 M €	+62.4%	630,2 k €	-36.5%	991,7 k €	-12.4%	1,1 M €
Operating result	339 k €	+238%	-245 k €	-99.3%	-122,9 k €	-154%	226,6 k €	-49.4%	448,1 k €	+1154%	-42,5 k €	+4.7%	-44,6 k €	-313%	20,9 k €	+142%	-49,9 k €	-318%	22,9 k €	-64.0%	63,6 k €	-74.6%	250,7 k €	-40.3%	419,9 k €	+8.0%	388,7 k €	+33.4%	291,4 k €	+437%	-86,6 k €	-131%	277,3 k €	-24.8%	368,8 k €
Net result	602,9 k €	+289%	-319,6 k €	-103%	-157,5 k €	-201%	156,7 k €	-59.5%	387,1 k €	+8272%	4,6 k €	-90.1%	46,6 k €	-34.3%	71 k €	+475%	12,3 k €	+70.6%	7,2 k €	-99.9%	7,9 M €	+280%	2,1 M €	-9.3%	2,3 M €	+3.1%	2,2 M €	+4.6%	2,1 M €	+26.6%	1,7 M €	-12.2%	1,9 M €	-1.9%	1,9 M €
Balance sheet
Equity	3,5 M €	+20.7%	2,9 M €	-12.0%	3,3 M €	-6.7%	3,6 M €	-2.0%	3,6 M €	+0.2%	3,6 M €	-2.0%	3,7 M €	-31.1%	5,4 M €	-23.4%	7 M €	-19.5%	8,7 M €	-16.4%	10,4 M €	+163%	4 M €	-2.4%	4,1 M €	-2.0%	4,1 M €	-1.3%	4,2 M €	-2.4%	4,3 M €	-1.1%	4,3 M €	-2.0%	4,4 M €
Total assets	8,8 M €	-28.2%	12,3 M €	-9.8%	13,6 M €	+4.7%	13 M €	+1.6%	12,8 M €	-13.3%	14,8 M €	+8.3%	13,6 M €	-8.8%	14,9 M €	-10.3%	16,6 M €	-8.7%	18,2 M €	-5.3%	19,3 M €	+51.8%	12,7 M €	-8.4%	13,8 M €	-2.1%	14,1 M €	-1.0%	14,3 M €	-12.9%	16,4 M €	-2.4%	16,8 M €	-7.7%	18,2 M €
Cash	2,2 M €	+117%	996 k €	+24.9%	797,5 k €	-56.1%	1,8 M €	+89.7%	956,7 k €	-12.9%	1,1 M €	+205%	360 k €	-41.3%	613,1 k €	+12.4%	545,2 k €	+204%	179,4 k €	+395%	36,2 k €	+30.2%	27,8 k €	-89.9%	275,7 k €	+20.5%	228,9 k €	-26.3%	310,5 k €	+84.5%	168,3 k €	-14.8%	197,5 k €	-73.8%	755 k €
Debts	4,3 M €	-50.8%	8,8 M €	-11.5%	9,9 M €	+6.9%	9,3 M €	+1.0%	9,2 M €	-17.7%	11,1 M €	+12.2%	9,9 M €	+3.8%	9,6 M €	-0.6%	9,6 M €	+1.1%	9,5 M €	+7.7%	8,8 M €	+1.8%	8,7 M €	-10.9%	9,8 M €	-1.9%	9,9 M €	+0.9%	9,8 M €	-14.5%	11,5 M €	-7.2%	12,4 M €	-9.5%	13,7 M €
Other
Workforce	2,6 ETP	-51.9%	5,4 ETP	-23.9%	7,1 ETP	+16.4%	6,1 ETP	-12.9%	7,0 ETP	+18.6%	5,9 ETP	-6.3%	6,3 ETP	-24.1%	8,3 ETP	-18.6%	10,2 ETP	+12.1%	9,1 ETP	+82.0%	5,0 ETP	-7.4%	5,4 ETP	-6.9%	5,8 ETP	-7.9%	6,3 ETP	0.0%	6,3 ETP	-1.6%	6,4 ETP	-3.0%	6,6 ETP	-2.9%	6,8 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Governance

Board of directors

Seen on filing of 31/12/2025 · 4 active · 36 ended

Active mandates

Alain KONINGS

Chairman of the board of directors · since 27 mai 2022 · until 26 mai 2028

Active

Mieke HOORENS

Director · since 27 mai 2022 · until 26 mai 2028

Active

STEVEN VERBRAECKEN

Director · since 27 mai 2022 · until 26 mai 2028

Active

Werner BOSCH

Director · since 27 mai 2022 · until 26 mai 2028

Active

Ended mandates

Alain KONINGS

Chairman of the board of directors · since 27 mai 2022 · until 25 mai 2028

Ended

Ernst et Young Reviseurs d'Entreprises

Director · since 27 mai 2022 · until 22 mai 2025 · 0446.334.711

Represented by Ronald VAN DEN ECKER

Ended

Ernst et Young Reviseurs d'Entreprises

Auditor · since 27 mai 2022 · until 22 mai 2025 · 0446.334.711

Represented by Ronald VAN DEN ECKER

Ended

Mieke HOORENS

Director · since 27 mai 2022 · until 25 mai 2028

Ended

At this address

Other companies at this address

Company	CBE no.
Indaver Municipal Services● Active	0420.136.001

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	05/06/2026	02/06/2025	06/06/2024	30/05/2023	16/06/2022	01/06/2021
General meeting	29/05/2026	30/05/2025	31/05/2024	26/05/2023	27/05/2022	28/05/2021
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

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	29/05/2026	05/06/2026	Dutch	PDF
Full model	31/12/2024	30/05/2025	02/06/2025	Dutch	PDF
Full model	31/12/2023	31/05/2024	06/06/2024	Dutch	PDF
Full model	31/12/2022	26/05/2023	30/05/2023	Dutch	PDF
Full model	31/12/2021	27/05/2022	16/06/2022	Dutch	PDF
Full model	31/12/2020	28/05/2021	01/06/2021	Dutch	PDF
Full model	31/12/2019	29/05/2020	22/09/2020	Dutch	PDF
Full model	31/12/2018	31/05/2019	28/06/2019	Dutch	PDF
Full model	31/12/2017	25/05/2018	08/06/2018	Dutch	PDF
Full model	31/12/2016	26/05/2017	25/08/2017	Dutch	PDF
Full model	31/12/2015	27/05/2016	01/08/2016	Dutch	PDF
Full model	31/12/2014	29/05/2015	12/06/2015	Dutch	PDF
Full model	31/12/2013	26/05/2014	30/06/2014	Dutch	PDF
Full model	31/12/2012	31/05/2013	14/06/2013	Dutch	PDF
Full model	31/12/2011	25/05/2012	14/06/2012	Dutch	PDF
Full model	31/12/2010	27/05/2011	03/06/2011	Dutch	PDF
Full model	31/12/2009	28/05/2010	04/06/2010	Dutch	PDF
Full model	31/12/2008	29/05/2009	07/05/2010	Dutch	PDF
Full model	31/12/2007	30/05/2008	07/07/2008	Dutch	PDF
Full model	31/12/2006	25/05/2007	26/07/2007	Dutch	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 2,5 M€ and 5 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 · 4 active · 36 ended

Active mandates

Alain KONINGS

Chairman of the board of directors · since 27 mai 2022 · until 26 mai 2028

Active

Mieke HOORENS

Director · since 27 mai 2022 · until 26 mai 2028

Active

STEVEN VERBRAECKEN

Director · since 27 mai 2022 · until 26 mai 2028

Active

Werner BOSCH

Director · since 27 mai 2022 · until 26 mai 2028

Active

Ended mandates

Alain KONINGS

Chairman of the board of directors · since 27 mai 2022 · until 25 mai 2028

Ended

Ernst et Young Reviseurs d'Entreprises

Director · since 27 mai 2022 · until 22 mai 2025 · 0446.334.711

Represented by Ronald VAN DEN ECKER

Ended

Ernst et Young Reviseurs d'Entreprises

Auditor · since 27 mai 2022 · until 22 mai 2025 · 0446.334.711

Represented by Ronald VAN DEN ECKER

Ended

Mieke HOORENS

Director · since 27 mai 2022 · until 25 mai 2028

Ended

Shareholders

Ownership and network

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Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates07/08/2026
ONTSLAGEN - BENOEMINGEN
PDF
Mandates09/07/2025
ONTSLAGEN - BENOEMINGEN
PDF
Mandates17/08/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates17/08/2022
ONTSLAGEN - BENOEMINGEN
PDF
Mandates05/01/2021
ONTSLAGEN - BENOEMINGEN
PDF
Mandates12/06/2018
ONTSLAGEN - BENOEMINGEN
PDF
Mandates14/12/2016
ONTSLAGEN - BENOEMINGEN
PDF
Mandates01/10/2015
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

2025
Annual accounts 2025602,9 k €↑
2024
Annual accounts 2024-319,6 k €↓
2023
Annual accounts 2023-157,5 k €↓
2022
Annual accounts 2022156,7 k €↓
2021
Annual accounts 2021387,1 k €↑
2020
Annual accounts 20204,6 k €↓
2019
Annual accounts 201946,6 k €↓
2018
Annual accounts 201871 k €↑
2017
Annual accounts 201712,3 k €↑
2016
Annual accounts 20167,2 k €↓
2015
Annual accounts 20157,9 M €↑
2014
Annual accounts 20142,1 M €↓
2013
Annual accounts 20132,3 M €↑
2012
Annual accounts 20122,2 M €↑
2011
Annual accounts 20112,1 M €↑
2010
Annual accounts 20101,7 M €↓
2009
Annual accounts 20091,9 M €↓
2008
Annual accounts 20081,9 M €
31/03/1994
IncorporationPublic limited company

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

ECOV

Overview

What does ECOV do?

Trend over 18 financial years

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