ACTIVE

AQUAFLUX

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Financial year 2025 · Closed on 31/12/2025

Net result445,9 k €+101,8 %over 1 year

Revenue5,3 M €+27,7 %over 1 year

Equity1,9 M €+14,9 %over 1 year

Workforce28,4 ETP+3,3 %over 1 year

Identity

Source · BCE/KBO

AQUAFLUX is a Public limited company incorporated in 2008. Its main activity is: Manufacture of central heating radiators and boilers. Its registered office is in Liège. It employs on average 28,4 ETP workers (FTE).

Legal situation: Normal situation
BCE/KBO no. / VAT: BE 0899.664.112
Incorporation: 05/08/2008
Legal form: Public limited company
Registered office: Avenue de l'Indépendance 83
4020 Liège · WallonieSee on map
Contributed capital: 150 000,00 €
Latest accounts: 31/12/2025
Average workforce: 28,4 ETP

Activities (NACE)

25210Manufacture of central heating radiators and boilers· main 25300Manufacture of steam generators, except central heating hot water boilers 42211Construction of utility projects for fluids 42211Construction of utility projects for fluids 42212Construction of utility projects for fluids 42212Construction of utility projects for fluids+4

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts

Financials

Source · NBB, 17 filings

Trend over 15 financial years

	2025		2024		2023		2022		2021
Income statement
Revenue	5,3 M €	+27.7%	4,2 M €	+6.3%	3,9 M €	-4.3%	4,1 M €	-15.1%	4,8 M €
EBITDA	940 k €	+45.9%	644,3 k €	+29.5%	497,6 k €	-13.6%	575,8 k €	-38.0%	928,7 k €
Operating result	642 k €	+80.4%	355,9 k €	+9.6%	324,8 k €	-13.5%	375,4 k €	-49.9%	749,2 k €
Net result	445,9 k €	+102%	221 k €	+1.7%	217,2 k €	-18.5%	266,6 k €	-51.2%	546 k €
Balance sheet
Equity	1,9 M €	+14.9%	1,7 M €	+15.4%	1,4 M €	+17.9%	1,2 M €	+5.8%	1,1 M €
Total assets	3,8 M €	+3.2%	3,7 M €	+11.6%	3,3 M €	+5.1%	3,1 M €	-10.1%	3,5 M €
Cash	294 k €	+171%	108,4 k €	+159%	41,9 k €	-23.6%	54,9 k €	-61.5%	142,4 k €
Debts	1,9 M €	-6.4%	2 M €	+8.7%	1,9 M €	-3.1%	1,9 M €	-16.5%	2,3 M €
Other
Workforce	28,4 ETP	+3.3%	27,5 ETP	+23.3%	22,3 ETP	-5.1%	23,5 ETP	+1.7%	23,1 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 2,5 M€ and 5 M€

See the valuation

Board of directors

Source · NBB, accounts to 31/12/2025

4 active · 4 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
FINOFAB0832.476.665Represented by Olivier FABRY	Managing director06/01/2011 → 09/04/2030Director06/01/2011 → 2015 accountsended
FRERE CONSTRUCTION ET CONSULTANCE0657.893.491Represented by Pierre Yves Frère	Managing director10/05/2018 → 09/04/2030Director10/05/2018 → 2019 accountsended
JOLY SA0464.849.536Represented by Pierre JOLY	Director01/08/2008 → 09/04/2030Managing director01/01/2014 → 2022 accountsended
S.A FIBAMA0425.661.833Represented by Marcel BAGUETTE	Director01/08/2008 → 09/04/2030

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Pierre Yves FRERE	Director02/04/2012 → 2017 accountsManaging director02/04/2012 → 2016 accounts

Other companies at this address

Avenue de l'Indépendance 83 4020 Liège

Company	CBE no.
AB Tech● Active	0447.207.216
CHATEAU DE DURETTE● Active	0895.295.152
GAMA - ASPHALT● Active	0449.317.064
Gravaubel● Active	0402.404.104
JOLY● Active	0773.919.745
JOLY SA● Active	0464.849.536
SSM ABTECH-ELOY● Active	1020.215.415
SSM ABTECH-GRAVAUBEL● Active	1041.461.680
SSM ABTECH-SOCOGETRA● Active	0746.479.633
TERRANOVA● Active	0872.242.806
TRANSPORT GROUPE JOLY● Active	1023.528.657
WERISOL● Active	0764.999.606

Full financial information

Source · NBB

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged 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	16/06/2025	17/06/2024	28/06/2023	24/08/2022	05/07/2021
General meeting	29/06/2026	11/06/2025	11/06/2024	26/06/2023	29/06/2022	30/06/2021
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, 17 filings

Model	Closing	General meeting	Filed	Language	Document
Abridged model	31/12/2025	29/06/2026	02/07/2026	French	PDF
Abridged model	31/12/2024	11/06/2025	16/06/2025	French	PDF
Abridged model	31/12/2023	11/06/2024	17/06/2024	French	PDF
Abridged model	31/12/2022	26/06/2023	28/06/2023	French	PDF
Abridged model	31/12/2021	29/06/2022	24/08/2022	French	PDF
Abridged model	31/12/2020	30/06/2021	05/07/2021	French	PDF
Abridged model	31/12/2019	03/07/2020	06/07/2020	French	PDF
Abridged model	31/12/2018	28/06/2019	03/07/2019	French	PDF
Abridged model	31/12/2017	30/04/2018	04/06/2018	French	PDF
Full model	31/12/2016	24/06/2017	31/08/2017	French	PDF
Full model	31/12/2015	24/06/2016	31/08/2016	French	PDF
Full model	31/12/2014	24/06/2015	24/08/2015	French	PDF
Full model	31/12/2013	31/01/2014	03/02/2014	French	PDF
Full model	31/12/2012	17/05/2013	19/08/2013	French	PDF
Full model	31/12/2011	08/05/2012	06/08/2012	French	PDF
Full model	31/12/2010	10/05/2011	19/06/2011	French	PDF
Full model	31/12/2009	13/04/2010	06/07/2010	French	PDF

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.

Board of directors

Source · NBB, accounts to 31/12/2025

4 active · 4 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
FINOFAB0832.476.665Represented by Olivier FABRY	Managing director06/01/2011 → 09/04/2030Director06/01/2011 → 2015 accountsended
FRERE CONSTRUCTION ET CONSULTANCE0657.893.491Represented by Pierre Yves Frère	Managing director10/05/2018 → 09/04/2030Director10/05/2018 → 2019 accountsended
JOLY SA0464.849.536Represented by Pierre JOLY	Director01/08/2008 → 09/04/2030Managing director01/01/2014 → 2022 accountsended
S.A FIBAMA0425.661.833Represented by Marcel BAGUETTE	Director01/08/2008 → 09/04/2030

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Pierre Yves FRERE	Director02/04/2012 → 2017 accountsManaging director02/04/2012 → 2016 accounts

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

Mandates05/11/2024
DEMISSIONS, NOMINATIONS
PDF
Mandates03/07/2024
DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, )
PDF
Mandates06/10/2021
DEMISSIONS, NOMINATIONS
PDF
Mandates09/07/2019
DEMISSIONS, NOMINATIONS
PDF
Registered office30/03/2017
Transfert du siège social
PDF
Other05/09/2016
MODIFICATION DES STATUTS
PDF
Other20/07/2016
DECISION CONSEIL D'ADMINISTRATION DU 15 DECEMBRE 2015 |
PDF
Mandates13/07/2016
RENOUVELLEMENT MANDAT REVISEUR ET ADMINISTRATEUR H
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

Filings15 filings

Mandates

S.A FIBAMA

JOLY SA

FRERE CONSTRUCTION ET CONSULTANCE

FINOFAB

Pierre Yves FRERE

Pierre-Yves FRERE

Rodriguez LOPEZ

Olivier FABRY

20082009201020112012201320142015201620172018201920202021202220232024202520262027202820292030

AQUAFLUX

Avenue de l'Indépendance 83, 4020 Liège-4020

Director

DirectorManaging director

Managing directorDirector

DirectorManaging director

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Avenue de l'Indépendance 83, 4020 Liège-4020Current	accounts 2021 → 2025	Accounts 2025 · 2026-00240429

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
AQUAFLUXCurrent	accounts 2011 → 2025	Accounts 2025 · 2026-00240429

Events

2025
Annual accounts 2025445,9 k €↑
2024
Annual accounts 2024221 k €↑
2023
Annual accounts 2023217,2 k €↓
2022
Annual accounts 2022266,6 k €↓
2021
Annual accounts 2021546 k €↑
2020
Annual accounts 2020305,2 k €↑
2019
Annual accounts 2019197 k €↑
2018
Annual accounts 201865,9 k €↓
2017
Annual accounts 201788,7 k €↓
2016
Annual accounts 2016136,4 k €↓
2015
Annual accounts 2015593,2 k €↑
2014
Annual accounts 2014168,3 k €↑
2013
Annual accounts 2013135,9 k €↑
2012
Annual accounts 2012-164,5 k €↓
2011
Annual accounts 2011486,7 €
05/08/2008
IncorporationPublic limited company

AQUAFLUX

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