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Vlaamse Maatschappij voor Watervoorziening

Active
Coöperatieve vennootschap van publiek rechtfounded 1983active for 43 yearsVooruitgangstraat 189, 1030 Schaarbeek, BelgiumKBO/BCE: BE 0224.771.467
Summary

Vlaamse Maatschappij voor Watervoorziening has been active since 1983 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.29bn and a net result of €24.1m. Equity remains stable across the filed financial years (±1% per year). Its solvency ranks better than 55% of 63 sector peers (NACE 36, financial year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).

Vlaamse Maatschappij voor WatervoorzieningActiveChecked score 89/100

Overview

Activity
Water collection, treatment and supply
NACE 36000
#1 employer in Belgium, Water and waste sector26 sites
Size
€974.0mturnover 2025
Staff
1,591.5 FTE
Equity
€1.29bn
Profit
€24.1m
Standalone figures, without subsidiaries
Financial health
89 Excellent Checked score 2025
Bankruptcy probabilitywithin 12 months
0.3%
Structure
Board
14 members
Holdings
12
Accounts 8 days early
Why 89raises riskLiquidity: current ratio 1.06, cash €4.5mLegal form: coöperatieve vennootschap van publiek rechtlowers riskFounded in 1983Equity €1.29bn (53.2% of total assets)Show the evidence

Checked score

Score 2025
89 / 100
Excellent
Probability in this band: under 0.55%
Financially better than 66% of its sector peers (all companies)
Financial strength · tick = 2024
Strong
Solvency 78-3
equity 53.2% of total assets
Liquidity 49=
short-term debt 12.0% · cash 0.2%
Profitability 72+5
return on assets 1.0%
Bankruptcy probability, 12 months
0.3% Very low
0%0.5%1.5%4%10%≥ 25%

About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Sector median 0.2% (6 companies, NACE 36, large)
Last 24 months 11-2024: 0.3% 12-2024: 0.3%● unchanged vs 11-2024 01-2025: 0.3%● unchanged vs 12-2024 02-2025: 0.3%● unchanged vs 01-2025 03-2025: 0.3%● unchanged vs 02-2025 04-2025: 0.3%● unchanged vs 03-2025 05-2025: 0.3%● unchanged vs 04-2025 06-2025: 0.3%● unchanged vs 05-2025 07-2025: 0.4%▲ +0.1 percentage points vs 06-2025highest value 08-2025: 0.3%▼ -0.1 percentage points vs 07-2025 09-2025: 0.3%● unchanged vs 08-2025 10-2025: 0.3%● unchanged vs 09-2025 11-2025: 0.3%● unchanged vs 10-2025 12-2025: 0.3%● unchanged vs 11-2025 01-2026: 0.3%● unchanged vs 12-2025 02-2026: 0.3%● unchanged vs 01-2026 03-2026: 0.3%● unchanged vs 02-2026 04-2026: 0.3%● unchanged vs 03-2026 05-2026: 0.3%● unchanged vs 04-2026 06-2026: 0.3%● unchanged vs 05-2026 07-2026: 0.3%● unchanged vs 06-2026 08-2026: 0.3%● unchanged vs 07-2026lowest value 09-2026: 0.3%● unchanged vs 08-2026lowest value 10-2026: 0.3%● unchanged vs 09-2026lowest value
Credit of up to €97,350,000 on 30-day terms is acceptable
Liquidity tight (current ratio 1.06, compared with 1.03 in 2024; short-term debt: 12% and cash: 0.2% of total assets), and 46.8% of the assets are financed with debt.
How it is calculated

The band follows from the bankruptcy probability, on a scale where 10 more points roughly halve it:

75-100 Excellent under 0.55%
60-74 Healthy 0.55% to 1.5%
45-59 Fair 1.5% to 4.2%
25-44 Weak 4.2% to 15.0%
0-24 Critical over 15.0%

Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (all companies): better than 69% on solvency, 58% on liquidity, 69% on profitability and 67% on growth.

The bankruptcy probability was computed on 10-10-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.

Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).

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Signals

Five signals.
lowers riskraises riskneutral
raises risk · Liquidity: current ratio 1.06, cash €4.5m
NBB · annual accounts
lowers risk · Founded in 1983
How long the company has existed counts in the probability; how much depends on the rest of its profile.
KBO
lowers risk · Equity €1.29bn (53.2% of total assets)
NBB · annual accounts
raises risk · Legal form: coöperatieve vennootschap van publiek recht
KBO
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 23-07-2026, 8 days ahead of the deadline.
NBB · 6 filings
Deviation from the deadline
2025
8 days early
2024
27 days early
2023
22 days early
2022
27 days early
2021
24 days early
2020
22 days early
← before the deadline after the deadline →
tick = median of all Belgian filings

This company filed its last 6 accounts on average 22 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 7 July (5 of the last 5 filed years within 30 days of that day).
Companies Code · seven months
Where today falls in the filing period
11-10-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
Searched since 2021.
KBO publications · our coverage
  1. Annual accounts filedfinancial year 2025 · full…
  2. Annual accounts filedfinancial year 2025 · consolidated
  3. Permanent representative: Steven Van CampenhoutGazette deed

Key points

  • Positive: Back in profit in 2025after -€6.7m in 2024 €24.1m View
  • Positive: Employer in Belgium, Water and waste sectorin the Checked rankings #1 View
  • Positive: 7 years of growth in a rowturnover 2025: €974.0m 7 years View
  • New directorslatest change 19-01-2026 · 14 in office 5 joined View
  • Flemish supportawarded 2022 - 2025 €337.9m View
  • Positive: Always filed on timeaccounts within the deadline every year 6 years View

By topic

Financials

Financial year
2025
Turnover
€974.0m
Profit
€24.1m
Solvency
53.2%
Turnover▲ 16.2%
Net result
20182025
Go to Financials

Board & ownership

Board
14 members
  • Hans GoossensDirector
  • Dimitri Van LaereDirector
  • Els KindtDirector
  • Ingrid LietenDirector
  • Koen VandermeirenDirector

and 9 other directors

Go to Board & ownership

Timeline

Events
84
Since
1988
Next accounts
by 31-07-2027
  1. 19-01-2026Resignations: Ilse Tant, Dirk Van der Stede…
  2. 31-12-2025Back to profit
  3. 22-10-2025Miscellaneous
Go to Timeline

Company details

Sites
26
Legal form
Coöperatieve vennootschap van publiek recht
Activity
Water collection, treatment and supplyNACE 36000
Founded
28-06-1983
Year ends
31-12
Peppol
Reachable for e-invoices
Go to Company details

Articles of association

Provisions read
3
Purpose
De maatschappij heeft tot doel de studie, de oprichting en de exploitatie van alle…
Go to Articles of association

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