Credit profile
As at 31 December 2023 Aquafin was responsible for the management of 329 waste water treatment plants (WWTP), 7,298 km of pipes and 2,057 supra-municipal pumping stations and storage settlement tanks.
Rating
Agency: Moody's
Last update: October 2024
Long term rating: Aa3 - negative outlook
Short term rating: P-1
Legal structure
Aquafin is 100% owned by the Flemish Region. Its direct holding company is the Flemish Participation Agency NV.
Aquafin has two subsidiaries. Aquaplus focuses on industrial waste water treatment. Aqcelerator is a venturing company that enables Aquafin to participate in projects with common goods, such as infrastructure projects related to sewer heat recovery or waste water reuse. Additonally, Aqcelerator can be a lever for innovations outside the organization that add value to the water and environmental sector and contribute to Aquafin's mission and vision.
Furthermore, Aquafin participates in Riopact and Synductis. Within Riopact, the drinking water company De Watergroep and Aquafin join forces for municipal sewer management in cities and municipalities that fall within De Watergroep's supply area. Synductis is the entity in Flanders that unites various utility companies working underground with the aim of better coordinating the work for less disruption and more efficiency.
Corporate figures (BE GAAP) at 31 December 2023
In thousands of euros
| Operating income | 720,929 |
| Profit for appropriation | 4,877 |
| Total assets | 3,965,178 |
| Capital and reserves | 328,243 |
| Short term financing | 53,101 |
| Long term financing | 2,342,212 |
Employees
| Employees Aquafin | 1,213 |
| Employees VMM | 33 |
| Total | 1,246 |
Projects in portfolio for the Flemish Region as at 31 December 2023
| Number | Value (millions of euros) | |
|---|---|---|
| Delivered (1) | 3,805 | 4,712.76 |
| Tendered and awarded (2) | 290 | 616.72 |
| In design phase (3) | 990 | 1,301.73 |
| Total in progress (2 + 3) | 1,280 | 1,918.45 |
