
2025
at a glance
332
waste water treatment plants (WWTP)
7.562
km pipes

88 %
of the residents of Flanders are connected to waste water treatment
683
mil m3 wastewater treated
New biomethane plants
The first biomethane plant began producing biomethane in 2021. In 2025, we commissioned three additional plants to upgrade biogas from sludge digestion to natural gas quality. Through an on-site injection station, the biomethane from these plants is fed directly into the gas grid. When the fifth—and, for now, final—biomethane unit becomes operational in 2026, we will inject 40 GWh of green gas into the grid each year, equivalent to the annual consumption of 2,650 households.

1,600 overflow metres installed

Launch of the first quaternary treatment stage

Smart control for nitrogen removal

Treated waste water becomes drinking water

Complex renovations extend the lifespan of collectors

New sludge dryers under construction

Launch of a sustainability board

First construction site café: a warm conversation with the local community

New biomethane plants
The first biomethane plant began producing biomethane in 2021. In 2025, we commissioned three additional plants to upgrade biogas from sludge digestion to natural gas quality. Through an on-site injection station, the biomethane from these plants is fed directly into the gas grid. When the fifth—and, for now, final—biomethane unit becomes operational in 2026, we will inject 40 GWh of green gas into the grid each year, equivalent to the annual consumption of 2,650 households.

Complex renovations extend the lifespan of collectors

1,600 overflow metres installed

New sludge dryers under construction

Launch of the first quaternary treatment stage

Launch of a sustainability board

Smart control for nitrogen removal

First construction site café: a warm conversation with the local community

Treated waste water becomes drinking water



About Aquafin
“Today, we treat 88% of household waste water in Flanders.“
Waste water treatment in Flanders
The water you use at home flows through the sewer system to our treatment plants. There, it is thoroughly treated so that it can be safely returned to streams and rivers. In this way, we help ensure clean waterways and a healthy living environment in Flanders. Today, we treat 88% of household waste water in Flanders, on behalf of the Flemish Government.
A strong network for waste water treatment
Aquafin builds, finances and manages the supra‑municipal infrastructure for the collection and treatment of household waste water. This includes major collector sewers and waste water treatment plants that collect and treat waste water from municipal sewer systems. We actively coordinate our investments and projects with municipalities, sewer managers and other partners. This ensures an efficient approach and prevents fragmentation in water management.
Working together towards a robust water systeem
Municipal and supra‑municipal sewer systems are closely interconnected. That is why we focus on coordination and system-level management across the entire network.
Today, we already support more than half of the Flemish cities and municipalities in managing their waste water and stormwater infrastructure, often in cooperation with Water-link, Pidpa and De Watergroep.
Transparent and careful management
We strictly safeguard the separation between our responsibilities on behalf of the Flemish Government and the services we provide to local authorities. We do so in line with clear agreements set out in our cooperation framework. In this way, we guarantee transparency and the correct use of public funds.
Innovation for climate action and energy transition
Waste water treatment is more than a statutory obligation. We maximise the potential of water. That is why we develop solutions that contribute to:
✦ the energy transition, for example, by recovering energy from waste water
✦ climate adaptation, through smart buffering and water reuse
✦ digitalisation, enabling more efficient and smarter infrastructure management
In doing so, we enhance the return on public infrastructure and help build a climate-resilient future.
Our vision
“Clean watercourses for future generations and a living environment in harmony with water”
Our value chain

Levers for pure impact
Corporate sustainability is woven into our entire strategy and operations. With these three levers, we make an extra difference.

Strategy, developments and challenges

“Long-term choices make a difference today”
Originally set up to eliminate the waste water treatment backlog in Flanders, Aquafin has gradually expanded its impact significantly. Not only through expansion, by adding activities linked to our task, but also through deepening and intensive partnerships. CEO Jan Goossens has seen the opportunities grasped translated into broad potential for the years to come.
What strategic choices made a difference for Aquafin in 2025?
Jan Goossens: “2025 was a year in which a number of long-term choices from the past tangibly paid off. Today, investments that were still being discussed six years ago are now proving their worth. The construction of two sludge dryers and our own sludge mono-incineration facility for the sustainable processing of biomass from our water treatment plants has strengthened our sales security and enabled large-scale phosphorus recovery. The sludge processing capacity in Flanders has been under pressure for several years. And in a context of deglobalisation and geopolitical tensions, that choice to increase our own source of raw materials is not a luxury but a necessity.
At the same time, we made a conscious decision to reinvest revenue from municipal activities in innovation. For instance, we are researching sewage sludge pyrolysis for the purpose of producing biochar: a circular application which avoids CO₂ emissions. The financial support we have received from the Helios Foundation for a pyrolysis and sludge-drying unit is confirmation that this is the right course to take.
Through our rebranding – which was implemented in 2025 – we have positioned ourselves more strongly as a connector with a clear vision of the future. This has strengthened our role in partnerships such as ALLWATERS, where we are helping steer European water innovation through the European Institute of Innovation and Technology (EIT). It has put us in a privileged position from which we can help shape the future of water.”
What achievements are you most proud of?
Jan Goossens: “We have continued to make good progress along the path we have taken by collaborating with municipal sewer operators. Municipalities are showing confidence and increasingly joining one of the partnerships between Aquafin and local sewer operators: proof that this strategic choice from the past was also the right one.
Operationally, we confirmed our role as pioneers: we launched Flanders’ first quaternary treatment plant combining two technologies to remove the widest possible range of micropollutants. And our approach to understanding the impact of overflows is among the best in Europe. We now monitor 1,600 overflow sites and have our own tool for calculating pollutant emissions, which enables us to implement targeted measures to improve water quality. We have also continued to work on additional phosphate removal at our WWTPs and kept a lot more phosphorus out of the watercourse as a result of relatively inexpensive investments.”
What are Aquafin’s priorities for 2026 and beyond?
Jan Goossens: “To comply with European regulations, Flanders must continue to invest strongly in waste water disposal and treatment infrastructure over the next decade. Thanks to the confidence the Flemish Government has placed in us, not only will our investment budget significantly increase over the next few years, but we were also granted additional investment authorisation via the Local Pact. That is the budget with which the Flemish Region takes over municipal investments and assigns them to Aquafin. We will therefore see our project portfolio grow tremendously over the next few years, with the associated challenges. Integrated collaboration with municipalities, their sewer operators and other stakeholders will therefore become even more important. We are busy preparing for this. I also hope that we can evolve towards even more digitalisation and data sharing within the sector. We will take the lead in this and bring parties together, based on the conviction that everyone can make even more of an impact on the goal that we are all working towards.”

Our activities

Activities
Research & innovation
Research at Aquafin can form part of an innovation programme or be aimed at building knowledge. Our research activities and innovations create added value for people and the environment. Thanks to our extensive asset base and practical expertise, we are a sought‑after partner for the long‑term and large‑scale testing and implementation of new technologies.
Research focused on water quality
The revised European Urban Waste Water Treatment Directive (UWWTD) will, in the longer term, require the removal of micropollutants at certain wastewater treatment plants (WWTPs). In 2025, Aquafin commissioned its first quaternary treatment installation in Aartselaar: an additional treatment step designed to remove these substances from wastewater. Through the Interreg project Clean Watercourses through O3G, we share our experience with this additional treatment step with other research partners in Flanders and the Netherlands.
The quality of run-off rainwater also affects surface water. This is a particular concern for car parks and roads with a separate sewer system, as oil residues and tyre particles can be washed into nearby watercourses. Aquafin carries out measurements within the European research project STOPUP. We also test treatment techniques for polluted rainwater. Using a self‑developed tool, we can calculate expected pollution levels and simulate the impact of mitigation measures.
Read more about our research (externe link, opent in nieuw tabblad)
Climate mitigation and adaptation
We investigate emissions of methane, nitrous oxide (N₂O) and CO₂ from our treatment processes and sewer systems to gain a clear understanding of where measures will have the greatest impact and to reduce our ecological footprint. In 2025, our R&D department launched a new measurement campaign using drones and other monitoring methods to obtain a detailed picture of emission sources.
Read more about greenhouse gases (externe link)
In addition, we are exploring how CO₂ can be used in a circular way. At the Antwerp South waste water treatment plant (WWTP), we tested the conversion of residual CO₂ into acetic acid together with Bio Base Europe Pilot Plant, a step towards the production of biofuels. This forms part of the European Horizon project Fuelphoria.
Our climate adaptation research focuses on water quantity and the modelling of sewer systems, including rainfall data, overflow operation and source control measures, enabling us to better align water management with a changing climate.
Resource recovery
Waste water contains many valuable resources. Aquafin investigates which of these can be recovered efficiently. One such resource is the carbon stored in treatment sludge. We explored pyrolysis, a process in which sludge is heated to high temperatures in an oxygen‑poor environment. This converts it into biochar: charcoal‑like granules that retain carbon instead of emitting it as CO₂. Biochar is still relatively new and can be used as a circular raw material in a wide range of sectors. With the support of VLAIO (Flemish Agency for Innovation and Entrepreneurship), and in collaboration with Hasselt University and Bioterra, we are assessing its feasibility as a cement substitute in concrete.
At the same time, we are investigating whether biochar can replace activated carbon in our quaternary treatment processes for micropollutant removal. With support from the Helios Foundation, we will build a pyrolysis installation at our waste water treatment plant in Menen, enabling the annual production of 500 tonnes of biochar. This will reduce greenhouse gas emissions from our sludge processing by more than 2,000 tonnes of CO₂ equivalent per year. In addition, we will capture 640 tonnes of CO₂-equivalent biogenic carbon annually as biochar.


Helping steer European innovations
Over the next 15 years, Europe will invest €600 million in innovative projects on water quantity, water quality and the development of a circular and sustainable blue economy through the European Institute of Innovation and Technology (EIT). Aquafin is part of the ALLWATERS consortium, which leads EIT Water. This international consortium also brings together leading companies, research institutes, universities and NGOs. In Belgium, the Blue Cluster is taking the lead, with organisations such as North Sea Port and the Jan De Nul Group also participating.
Being part of the leading consortium gives Aquafin access to an even broader research network. At the same time, it is a privilege to help shape the direction of innovation in water management at the European level.

Financial

“More investment in coming years means greater funding demand”
Aquafin is not only looking back on a positive year, but is mainly looking ahead. With sharply increasing investment authorisation, challenging projects lie ahead in the coming years that will have a positive environmental impact. Finance & Procurement director Glenn Van Olmen is also looking forward to the new Business Development department, which will allow Aquafin to further develop its products and services.
How would you rate the financial results for 2025?
Glenn: “We can be satisfied with the positive result for our contract set by decree. An important component in this is the performance budget that we are allocated by the Flemish Region. That’s the budget for our operations, excluding investments and financing costs, which is calculated based on a set formula that takes into account aspects such as the size of our portfolio and preparations for future investments, but also the waste load processed during the previous calendar year. If it were a dry year, that translates into lower costs for chemical dosing and sludge processing, for example, and vice versa. So it’s the ‘rough with the smooth’ effect that is always felt after a deferment of a year. As 2024 was extremely wet and 2025 extremely dry, we had a limited surplus.
The result for contracts outside the cooperation agreement with the region was positive but lower than in other years. That was primarily due to the implementation of a new ERP system[1], which meant that, exceptionally, we were unable to recognise any more projects in our results during the second half of the year.”
[1] Enterprise Resource Planning
How did the switch to a new ERP system go?
Glenn: “The complex environment that Aquafin operates in made it a challenging process. Despite that, everything went smoothly overall, partly thanks to long and thorough preparations. Since Aquafin was founded 35 years ago, all data relating to project monitoring, personnel, invoicing and payments have been stored on a robust and stable IBM mainframe that has been subject to customised expansion. Because switching to a new ERP system is a costly and time-consuming process, we continued to use the old system for as long as possible, until it became a reliability risk. Despite meticulous preparation and project planning, the leap remained nerve-wracking right up to the very end. Naturally, not everything was plain sailing, but we can definitely be proud of how things went. Particularly when you think that we suddenly switched to an SAP S4 in the cloud environment. This system has made our ERP futureproof again.”
What opportunities do you see in the coming years for anyone looking to invest in clean watercourses?
Glenn: “We see our investment authorisation for the Flemish Region increasing strongly over the next few years. Although the delivery budget for the next calendar year is set during the current year, the Flemish Government has already approved a gradual increase until 2032 in view of the new river basin management plans. That means: more projects with a positive environmental impact and therefore also a greater financing need for projects of this type. In addition, an extra 500 million euros will be allocated to Local Pact projects within clearly defined categories. In doing so, the region is taking over investments from the municipalities. By commissioning Aquafin to carry out and prefinance these projects, their impact on the Flemish budget is reduced.”
You became the head of a new Business Development department at the start of 2026. What is the organisational ambition behind that?
Glenn: “Within this new department, we will bring together services that serve various customer segments: the Flemish Region, towns, cities and municipalities, businesses and other organisations. This will enable us to adopt a more centralised product and service strategy while differentiating across customer segments. A growth analysis will further shape the structure of the new department to enable the full potential of our products and services to be utilised, in line with Aquafin’s vision.
For the time being, until a successor has been appointed, I will also remain the director of Finance & Procurement. So I will remain within the organisation and closely oversee the onboarding of a new colleague to ensure that continuity remains guaranteed within that department too.”

Key figures financial report
From the balance sheet and income statement
| Amounts in mio euros | 2025 | 2024 |
|---|---|---|
| Operating income | 761,612 | 724,230 |
| Operating charges | 675,835 | 646,559 |
| Turnover | 636,870 | 673,066 |
| Profit for the financial year | 7,257 | 4,435 |
| Total liabilities | 4,476,652 | 4,125,022 |
| Capital and reserves | 328,828 | 328,465 |
| Short-term financing | 398,254 | 150,102 |
| Long-term financing | 2,285,603 | 2,207,596 |
Green Finance Framework report


Contact & information
Aquafin
VAT number: 0440.691.388
Registered office: Dijkstraat 8 – 2630 Aartselaar
www.aquafin.be (externe link) – info@aquafin.be
Contact office: +32 3 450 45 11 (weekdays between 08.00 and 17.00 hrs)
Emergency number: 0800 16 603
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