AQUA.COM
ActiveSummary
AQUA.COM has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €9.7m and a net result of €1.1m. Equity is growing by ~3.9% per year across the filed fiscal years. Its solvency ranks better than 87% of 299 sector peers (fiscal year 2025). The computed 12-month bankruptcy probability is 0.3% (very low).
Checked score
Score 2025
Axes · tick = 2024
Profitability68▼-10
Solvency98▲+7
Growth52▼-18
Track record100
Bankruptcy probability, 12 months
0.3%
Very low
0%0.5%1.5%4%10%≥ 25%
Credit up to €750,000 at 30 days acceptable
Liquidity ample (current ratio 4.34 against 3.03 in 2024; short-term debt: 22.2% and cash: 0.9% of total assets), and 26.8% of the assets are financed with debt.
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Signals
Five signals. The signal on the left, the evidence on the right.
−lowers risk+raises risk○neutral
lowers risk · Long track record
A company with a long track record statistically fails less often than a young one.
KBO · incorporation dateAge against the risk zone
lowers risk · Annual accounts: healthy financial profile
The latest annual accounts show a healthy profile in solvency, result and liquidity.
NBB · annual accounts 2025Solvency, return and age of the figures
Solvency
73.2%
Return on assets
8.6%
Age of the figures
9 mo
raises risk · Higher-failure-rate sector
In this sector companies fail more often than the Belgian average.
Gazette · bankruptcies per sector, NACE 42
Relative position
BE, all sectors
reference
Civil engineering (NACE 42)
about 27% more bankruptcies
← fewer bankruptcies
more bankruptcies →
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 15-07-2026, 16 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
16 d early
2024
2 d early
2023
29 d late
2022
31 d late
2021
31 d late
2020
31 d late
2019
7 d early
← before the deadline
after the deadline →
tick = median of all Belgian filingsring = median in the sector
This company filed its last 7 accounts on average 14 days after the deadline; the sector median for financial year 2024 is 3 days before the deadline, and 40% of the sector filed late.
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
26-09-2026 today31-12-2026 close31-07-2027 deadline
History
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How much credit can you give this customer, and on what term?Credit simulator What should you check before you do business with this company?Supplier due diligence Can you trust this company with building work?Contractor check Can you accept this company as a client under the anti-money-laundering law?AML client file How does this company compare with its sector?Sector benchmark What changed in the latest annual accounts?What changed
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Financials · fiscal year 2025, full schema
In the rankings
#1 company by total assets in Koekelare, Construction sector#1 company by equity in Koekelare, Construction sector#9 fastest grower in West Flanders, Civil engineering sector
Turnover
€23.1m▼ 1.6%
2024 · €23.5m
EBIT margin
6.0%▼ 3.8pp
2024 · 9.8%
Net result
€1.1m▼ 38.6%
2024 · €1.8m
Working capital
€9.9m▲ 17.6%
2024 · €8.4m
Trend over the years
Click a name to add, emphasise or remove a line.
Every figure with its change against the fiscal year before
favourable
unfavourable
Line20212022202320242025
Turnover€24.4m▲ 28.5%€23.9m▼ 2.1%€23.1m▼ 3.2%€23.5m▲ 1.4%€23.1m▼ 1.6%
Operating result€2.8m▲ 36.2%€3.2m▲ 11.7%€1.9m▼ 39.4%€2.3m▲ 19.5%€1.4m▼ 39.6%
Net result€2.1m▲ 32.7%€2.2m▲ 3.1%€1.6m▼ 29.0%€1.8m▲ 18.1%€1.1m▼ 38.6%
EBIT margin11.6%▲ 0.7pp13.3%▲ 1.6pp8.3%▼ 5.0pp9.8%▲ 1.5pp6.0%▼ 3.8pp
Equity€8.1m▲ 1.7%€8.3m▲ 2.5%€8.3m▲ 0.8%€8.6m▲ 2.9%€9.7m▲ 13.2%
Total assets€14.0m▲ 9.4%€16.1m▲ 14.8%€13.9m▼ 13.7%€12.9m▼ 7.0%€13.3m▲ 2.6%
Debt€5.7m▲ 21.7%€7.6m▲ 32.9%€5.3m▼ 29.8%€4.1m▼ 22.8%€3.3m▼ 19.4%
Working capital€7.8m▲ 3.1%€8.2m▲ 5.2%€8.2m=€8.4m▲ 2.6%€9.9m▲ 17.6%
Staff (FTE)12.3▲ 6.0%12.7▲ 3.3%13.7▲ 7.9%13▼ 5.1%13.8▲ 6.2%
Result per fiscal year
Operating resultNet result
The operating result falls in 2025; 2025 is 40% below 2024 and is the lowest result in the available series.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €13.3m
Fixed assets
€458,448 ▲ 6.5%
Current assets
€12.8m ▲ 2.5%
Equity and liabilities €13.3m
Equity
€9.7m ▲ 13.2%
Provisions
€232,050 =
Debt
€3.3m ▼ 19.4%
Debt's share of the balance-sheet total falls from 31.9% to 25.0%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.4m▼
2024 · €2.3m
Cash flow
€1.2m▼
2024 · €1.9m
Current ratio
4.34▲
2024 · 3.03
Quick ratio
1.80▲
2024 · 1.25
Debt to equity
0.34▼
2024 · 0.48
ROE
11.7%▼
2024 · 21.6%
ROA
8.6%▼
2024 · 14.3%
Interest coverage
56.83▲
2024 · 55.28
Debt ≤ 1 year
€2.9m▼
2024 · €4.1m
Income taxes
€381,530▼
2024 · €518,057
Staff costs
€1.0m▲
2024 · €944,700
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €24.5m | €23.9m | €23.2m | €23.5m | €23.1m | ▼ 1.5% |
| Turnover70 | €24.4m | €23.9m | €23.1m | €23.5m | €23.1m | ▼ 1.6% |
| Other operating income74 | €21,229 | €26,610 | €8,230 | €14,645 | €39,326 | ▲ 169% |
| Non-recurring operating income76A | - | - | - | €2,500 | €4 | ▼ 99.9% |
| Operating charges60/66A | €21.6m | €20.8m | €21.2m | €21.2m | €21.8m | ▲ 2.6% |
| Goods for resale, raw materials and consumables60 | €19.4m | €18.3m | €18.6m | €18.4m | €18.3m | ▼ 1.0% |
| Purchases600/8 | €19.7m | €20.3m | €18.1m | €18.5m | €18.6m | ▲ 0.6% |
| Change in stocks: decrease (increase)609 | -€311,545 | -€2.0m | €481,982 | -€67,486 | -€360,981 | ▼ 435% |
| Services and other goods61 | €1.4m | €1.5m | €1.5m | €1.7m | €1.8m | ▲ 0.6% |
| Remuneration, social security and pensions62 | €732,300 | €810,921 | €956,062 | €944,700 | €1.0m | ▲ 10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €106,275 | €86,276 | €70,167 | €49,957 | €47,658 | ▼ 4.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | -€28,783 | €1,935 | €9,656 | €0 | €452,069 | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | €53,862 | -€6,206 | -€6,090 | €1,985 | €0 | ▼ 100% |
| Other operating charges640/8 | €48,043 | €92,114 | €129,423 | €13,597 | €25,701 | ▲ 89.0% |
| Non-recurring operating charges66A | - | - | - | - | €168,762 | - |
| Operating profit (loss)9901 | €2.8m | €3.2m | €1.9m | €2.3m | €1.4m | ▼ 39.6% |
| Financial income75/76B | €104,524 | €327,180 | €172,083 | €147,648 | €178,449 | ▲ 20.9% |
| Recurring financial income75 | €104,524 | €327,180 | €172,083 | €147,648 | €178,449 | ▲ 20.9% |
| Income from current assets751 | €13,833 | €40,431 | €108,746 | €99,145 | €71,132 | ▼ 28.3% |
| Other financial income752/9 | €90,691 | €286,749 | €63,337 | €48,503 | €107,317 | ▲ 121% |
| Financial charges65/66B | €85,994 | €542,700 | €86,511 | €77,621 | €50,493 | ▼ 34.9% |
| Recurring financial charges65 | €85,994 | €542,700 | €86,511 | €77,621 | €50,493 | ▼ 34.9% |
| Debt charges650 | €3,853 | €2,190 | €64,155 | €42,467 | €25,275 | ▼ 40.5% |
| Other financial charges652/9 | €82,141 | €540,510 | €22,356 | €35,154 | €25,218 | ▼ 28.3% |
| Profit (loss) for the period before taxes9903 | €2.9m | €3.0m | €2.0m | €2.4m | €1.5m | ▼ 35.9% |
| Income taxes67/77 | €720,046 | €753,451 | €441,926 | €518,057 | €381,530 | ▼ 26.4% |
| Taxes670/3 | €720,046 | €753,943 | €442,840 | €518,087 | €382,016 | ▼ 26.3% |
| Tax adjustments and reversals of tax provisions77 | - | €492 | €914 | €31 | €486 | ▲ 1,485% |
| Profit (loss) for the period9904 | €2.1m | €2.2m | €1.6m | €1.8m | €1.1m | ▼ 38.6% |
| Profit (loss) for the period to be appropriated9905 | €2.1m | €2.2m | €1.6m | €1.8m | €1.1m | ▼ 38.6% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €14.0m | €16.1m | €13.9m | €12.9m | €13.3m | ▲ 2.6% |
| Fixed assets21/28 | €575,697 | €515,867 | €466,829 | €430,654 | €458,448 | ▲ 6.5% |
| Intangible fixed assets21 | €428 | €24 | €9,198 | €5,399 | €1,599 | ▼ 70.4% |
| Tangible fixed assets22/27 | €575,195 | €515,768 | €457,556 | €425,181 | €456,775 | ▲ 7.4% |
| Land and buildings22 | €476,356 | €455,386 | €414,162 | €382,415 | €353,597 | ▼ 7.5% |
| Plant, machinery and equipment23 | €297 | - | €31,234 | €33,274 | €24,017 | ▼ 27.8% |
| Furniture and vehicles24 | €98,542 | €60,382 | €12,161 | €9,493 | €79,161 | ▲ 734% |
| Financial fixed assets28 | €74 | €74 | €74 | €74 | €74 | = |
| Other financial fixed assets284/8 | €74 | €74 | €74 | €74 | €74 | = |
| Amounts receivable and cash guarantees285/8 | €74 | €74 | €74 | €74 | €74 | = |
| Current assets29/58 | €13.4m | €15.6m | €13.4m | €12.5m | €12.8m | ▲ 2.5% |
| Amounts receivable after more than one year29 | - | - | €227,925 | €46,440 | €0 | ▼ 100% |
| Other amounts receivable291 | - | - | €227,925 | €46,440 | €0 | ▼ 100% |
| Stocks and contracts in progress3 | €5.7m | €7.8m | €7.3m | €7.4m | €7.5m | ▲ 1.8% |
| Stocks30/36 | €5.7m | €7.8m | €7.3m | €7.4m | €7.5m | ▲ 1.8% |
| Goods purchased for resale34 | €5.7m | €7.8m | €7.3m | €7.4m | €7.4m | ▲ 1.3% |
| Advance payments36 | - | - | - | - | €37,893 | - |
| Amounts receivable within one year40/41 | €7.2m | €7.4m | €5.4m | €4.6m | €5.2m | ▲ 11.3% |
| Trade receivables40 | €3.2m | €3.7m | €3.2m | €3.1m | €2.5m | ▼ 16.6% |
| Other amounts receivable41 | €4.0m | €3.7m | €2.2m | €1.6m | €2.6m | ▲ 65.1% |
| Cash at bank and in hand54/58 | €549,741 | €405,352 | €466,002 | €427,514 | €125,452 | ▼ 70.7% |
| Deferred charges and accrued income490/1 | €24,391 | €22,356 | €19,168 | €28,953 | €29,777 | ▲ 2.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €14.0m | €16.1m | €13.9m | €12.9m | €13.3m | ▲ 2.6% |
| Equity10/15 | €8.1m | €8.3m | €8.3m | €8.6m | €9.7m | ▲ 13.2% |
| Contributions10/11 | €247,894 | €247,894 | €247,894 | €247,894 | €247,894 | = |
| Capital10 | €247,894 | €247,894 | €247,894 | €247,894 | €247,894 | = |
| Issued capital100 | €247,894 | €247,894 | €247,894 | €247,894 | €247,894 | = |
| Reserves13 | €2.9m | €2.9m | €2.9m | €2.9m | €2.9m | = |
| Non-distributable reserves130/1 | €24,789 | €24,789 | €24,789 | €24,789 | €24,789 | = |
| Legal reserve130 | €24,789 | €24,789 | €24,789 | €24,789 | €24,789 | = |
| Tax-exempt reserves132 | €56,250 | €56,250 | €56,250 | €56,250 | €56,250 | = |
| Distributable reserves133 | €2.8m | €2.8m | €2.8m | €2.8m | €2.8m | = |
| Profit (loss) carried forward14 | €5.0m | €5.2m | €5.2m | €5.5m | €6.6m | ▲ 20.8% |
| Provisions and deferred taxes16 | €242,360 | €236,154 | €230,065 | €232,050 | €232,050 | = |
| Provisions for liabilities and charges160/5 | €242,360 | €236,154 | €230,065 | €232,050 | €232,050 | = |
| Other liabilities and charges164/5 | €242,360 | €236,154 | €230,065 | €232,050 | €232,050 | = |
| Amounts payable17/49 | €5.7m | €7.6m | €5.3m | €4.1m | €3.3m | ▼ 19.4% |
| Amounts payable within one year42/48 | €5.7m | €7.4m | €5.3m | €4.1m | €2.9m | ▼ 28.4% |
| Financial debts43 | €525,406 | €166,943 | €1.3m | €143,404 | €154,857 | ▲ 8.0% |
| Credit institutions430/8 | €525,406 | €166,943 | €1.3m | €143,404 | €154,857 | ▲ 8.0% |
| Trade debts44 | €4.0m | €3.8m | €1.9m | €2.2m | €2.6m | ▲ 19.4% |
| Suppliers440/4 | €4.0m | €3.8m | €1.9m | €2.2m | €2.6m | ▲ 19.4% |
| Advances received on contracts in progress46 | - | - | - | €42,360 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | €178,283 | €484,607 | €481,060 | €152,487 | €201,646 | ▲ 32.2% |
| Taxes450/3 | €20,001 | €283,791 | €281,659 | €24,286 | €25,346 | ▲ 4.4% |
| Remuneration and social security454/9 | €158,282 | €200,816 | €199,401 | €128,200 | €176,300 | ▲ 37.5% |
| Other amounts payable47/48 | €1.0m | €3.0m | €1.5m | €1.6m | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | €32,229 | €177,007 | €67,120 | €3,221 | €371,690 | ▲ 11,438% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €2.1m | €2.2m | €1.6m | €1.8m | €1.1m | ▼ 38.6% |
| + Depreciation and write-downs630 | €106,275 | €86,276 | €70,167 | €49,957 | €47,658 | ▼ 4.6% |
| Operating cash flow (approximation) | €2.2m | €2.3m | €1.6m | €1.9m | €1.2m | ▼ 37.7% |
| Investment in fixed assets (approximation) | - | -€26,445 | -€21,129 | -€13,782 | -€75,452 | ▼ 447% |
| Change in cash | - | -€144,389 | €60,650 | -€38,488 | -€302,063 | ▼ 685% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
24-09
State Gazette act
Permanent representative: Boes YannickReappointment: Boes & Verrue bedrijfsrevisoren BV (statutory auditor)4 facts ▸
State Gazette act
Permanent representative: Boes Yannick
Reappointment: Boes & Verrue bedrijfsrevisoren BV (statutory auditor)4 facts ▸
- General meeting, 30-06-2026
- Permanent representative, Boes Yannick (representative)
- Auditor reappointment, Boes & Verrue bedrijfsrevisoren BV (statutory auditor)
- Other statement, auditor appointment, jaar
04-08
State Gazette act
Resignations: Pollet Water Group NV (managing director) and Revolve NV (chair of the board)Appointments: Pollet Water Group NV (director) and Smardix BV (director) · Permanent representatives: Sofie Pollet, Dimitri Taillieu and Erik Claus · Power of attorney11 facts ▸
State Gazette act
Resignations: Pollet Water Group NV (managing director) and Revolve NV (chair of the board)
Appointments: Pollet Water Group NV (director) and Smardix BV (director) · Permanent representatives: Sofie Pollet, Dimitri Taillieu and Erik Claus · Power of attorney11 facts ▸
- General meeting, 27 juli 2026
- Director resignation, Pollet Water Group NV (managing director)
- Director resignation, Revolve NV (chair of the board)
- Director appointment, Pollet Water Group NV (director)
- Director appointment, Pollet Water Group NV (chair of the board)
- Director appointment, Smardix BV (director)
- Director appointment, Smardix BV (managing director)
- Permanent representative, Sofie Pollet
- Permanent representative, Dimitri Taillieu
- Permanent representative, Erik Claus
- Power of attorney, Pollet Group NV
15-07
NBB filing
Annual accounts filed
fiscal year 2025 · full schema
2025
31-12
Financial
Weakest financial yearnet €1.1m ▼38.6%
Net result drops to €1.1m, the lowest in the series.
29-07
NBB filing
Annual accounts filed
fiscal year 2024 · full schema
2024
29-08
NBB filing
Annual accounts filed
fiscal year 2023 · full schema · 29 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · full schema · 31 days late
2022
31-12
Financial
Highest result since 2018net €2.2m ▲3.1%
Operating result €3.2m, net result €2.2m, both a record.
31-08
NBB filing
Annual accounts filed
fiscal year 2021 · full schema · 31 days late
2021
31-08
NBB filing
Annual accounts filed
fiscal year 2020 · full schema · 31 days late
2020
24-07
NBB filing
Annual accounts filed
fiscal year 2019 · full schema
2019
29-07
NBB filing
Annual accounts filed
fiscal year 2018 · full schema
2018
07-08
NBB filing
Annual accounts filed
fiscal year 2017 · full schema · 7 days late
2017
23-08
NBB filing
Annual accounts filed
fiscal year 2016 · full schema · 23 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
2 of 18 acts read
About the unread acts
Of the 18 Belgian State Gazette acts we know for this company, 2 have been read. The other 16 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
2 directors, 1 in day-to-day management, last change in 2026
Board 2
Pollet Water Group NV
CurrentChair of the board · since 27-07-2026 · Director · since 27-07-2026 · Legal entity · perm. rep.: Sofie Pollet
Smardix BV
CurrentDirector · since 27-07-2026 · Legal entity · perm. rep.: Dimitri Taillieu
Day-to-day management 1
Smardix BV
CurrentManaging director · since 27-07-2026 · Legal entity · perm. rep.: Dimitri Taillieu
Permanent representatives 2
Dimitri Taillieu
CurrentPermanent representative · since 27-07-2026 · for Smardix BV
Sofie Pollet
CurrentPermanent representative · since 27-07-2026 · for Pollet Water Group NV
Statutory auditor 1
Boes & Verrue Bedrijfsrevisoren BV
CurrentStatutory auditor · since 24-09-2026 · perm. rep.: Boes Yannick
Derived from published Gazette acts. The CBE keeps the official list of function holders; we do not read it, so the two can differ.
See the function holders in the CBE →
Not every act has been read: a resignation may be missing here
16 of this company's 18 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Registered office, Koekelare · 1 establishment unit since 1993
Ground area
1.2 ha
Building footprint
4,703 m²
Volume, LiDAR
31,982 m³
2 parcels, Flanders · tallest building 22.8 m, ±3 floors. Linked by address, not a title deed.
24
companies at this address
See who is registered here
1 establishment unit
Diamantstraat (HRT) 1, 2200 Herentals
since 19932.061.268.311
2 parcels
Flanders
2
(100%)
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 13027A0023/00B000 | Flanders | 1.1 ha | 1 · 3,246 m² | 7.5 m · 2 fl. |
| 32010D0015/00Y000 | Flanders | 1,629 m² | 1 · 1,456 m² | 22.8 m · 3 fl. |
Linked by address, not proof of ownership
Good to know
2 of 2 parcels with an exact address match; the rest are indicative.
Linked through address data, this is not proof of ownership.
Mandate history
4 people since 2026, 3 in office
- Board
- Day-to-day management
- Statutory auditor
- began earlier
| Name | Functions and periods |
|---|---|
| Pollet Water Group NV |
|
| Smardix BV |
|
| Boes & Verrue Bedrijfsrevisoren BV |
|
| Revolve NV |
|
Structure & network
Connections & network
2 current directorsThe network starts from this company’s directors. Other companies they run appear here as nodes.
This company
Company
Director
Shareholding
+N: links not shown yet
Click a node to look further, drag to arrange, scroll to zoom.
Recognitions · licences · registrations
Legal Entity Identifier
967600MEJYFZCCQK0475
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Identification & contact
Identification
Legal formPublic limited company
Founded02-03-1993
Fiscal year end31-12
Activities, NACEBEL 2025
42911Civil engineering
46649Wholesale of other machinery and equipment
Scores and ratios are computed by Checked and are not a credit decision.