Company profile
This section provides an overview of our organisational structure, key financial figures, credit rating, investment documentation and the main projects currently under construction. It offers clear insight into our operations, financial stability and long-term projects.
Quick links
Our mission and structure
Aquafin is a ‘naamloze vennootschap naar privaat recht’ (private joint stock company). We operate under a cooperation agreement with the Flemish Region covering the financing, development and operation of supra-municipal waste water treatment infrastructure. This agreement has a rolling term of 20 years. The Flemish Environment Agency acts as a regulator and oversees the execution of our projects. We also work closely with Flemish towns, cities and municipalities, as well as with private partners.
Our credit rating
This credit rating reflects Aquafin’s strong financial position, stable revenue streams, and the confidence investors place in our long-term projects.
| DESCRIPTION | DETAILS |
|---|---|
| Long term rating | A1 - stable outlook |
| Short term rating | P-1 |
| Rating agency | Moody’s |
| Latest update | April 2026 |
Downloads
- Rating report-24Apr2026pdf - 165.4 KB
- Commercial paper programmapdf - 1.47 MB
- Investor Presentationpdf - 3.39 MB
Company passport
Aquafin's identification details
| DESCRIPTION | DETAILS |
|---|---|
| Registered office | Dijkstraat 8 - 2630 Aartselaar |
| VAT number | 0440 691 388 |
| Aquafin's LEI | 549300BKDDQ56JWCBT72 |
| Social Security number | 1588025-79 |
| NACE code | 37000 |
| Rating | Moody’s A1 stable outlook |
Legal structure
Aquafin is wholly owned by the Flemish Region. Participatiemaatschappij Vlaanderen (PMV) is the sole shareholder.
Aquafin has two subsidiaries:
* Aquaplus, which provides tailored solutions for all aspects of industrial water treatment.
* Aqcelerator, our venture company, which invests in projects with societal value – such as sewer thermal energy and the reuse of treated waste water – and supports innovations that create value for the water and environmental sector.
Aquafin also participates in partnerships, including:
* Riopact, which combines the expertise of De Watergroep and Aquafin in municipal sewer management within De Watergroep’s supply area.
* Synductis, a collaboration of Flemish utility companies aimed at better coordination of underground works, resulting in less disruption and greater efficiency.
Latest key figures
Corporate figures (BE GAAP) as at 31 December 2025
Amounts in thousands of euros
| DESCRIPTION | Amounts in thousands of euros |
|---|---|
| Operating income | 761,612 |
| Profit available for appropriation | 7,257 |
| Balance sheet total | 4,476,652 |
| Capital and reserves | 328,828 |
| Short-term financing | 398,254 |
| Long-term financing | 2,285,603 |
Number of employees
| DESCRIPTION | Number of employees |
|---|---|
| Aquafin employees | 1,294 |
| Flemish Environment Agency employees | 22 |
| Total employees | 1,316 |
Projects in portfolio for the Flemish Region as at 31 December 2024
Overview of all projects carried out by Aquafin on behalf of the Flemish Region.
| DESCRIPTION | NUMBER | VALUE (mio EUR) |
|---|---|---|
| Completed projects (1) | 3.905 | 4.856,55 |
| Tendered and awarded (2) | 278 | 780,97 |
| Design (3) | 954 | 1.195,48 |
| Total in progress (2) + (3) | 1.232 | 1.976,45 |
Invest in sustainable water infrastructure
Aquafin invests in sustainable water infrastructure that strengthens Flanders’ resilience to drought and flooding. As an investor, you partner with a stable organisation offering predictable revenue streams and a strong credit rating. Discover how you can participate through our range of financing instruments.