Annual Report 2022

Foreword

Dear reader

AIn 2023, Aquafin started a new cooperation agreement with the Flemish Region. And this agreement reflects strong confidence in the company as a partner for deploying resources efficiently and effectively in the water sector. A result-oriented follow-up gives us the autonomy to do so. At the same time, the new agreement gives us the opportunity to take on additional tasks related to our key mission due to new European legislation, for example. The freedom we are given for this allows us to work towards optimal water quality.

Like the previous one, the new agreement has also been entered into on a rolling basis for 20 years. Such a long-term perspective is necessary given the repayment terms of the financing that Aquafin has entered into for the supra-municipal investment projects. That financing is crucial for the implementation of the projects. Confirmation of our investors’ confidence in the new cooperation agreement was therefore an absolute must.

With more autonomy comes more responsibilities. Whereas our results mainly used to be monitored on an operational basis, we are now responsible ourselves for the control mechanisms for ensuring that objectives are achieved in the best manner financially. In 2022, together with the Flemish Environment Agency, we prepared for a new method of supervision based on critical performance indicators that will provide transparency on the course that we take.

Connector In The Water Sector

Meanwhile, Aquafin looked for ways to bring the actors in the water sector even closer together in order to further improve efficiency gains for Flanders. That is because we believe that more integrated management of the waste water and stormwater infrastructure will greatly benefit connectivity and consequently water quality. Initial experiences in our role as matchmaker where we match supra-municipal investments with those of the municipalities are already pointing in that direction.

In 2022, Aquafin also excelled in terms of digitalisation. Thanks to the additional funding from Europe and Flanders released for this purpose, we can widen the deployment of our infrastructure to address social challenges such as climate change. That also applies to the end product of the water treatment process: treated waste water. The increasingly frequent periods of drought that Flanders has to cope with have put the reuse of this alternative water source on the radar. The Blue Deal also gave an extra boost to a number of major projects which we are keen to support.

Not Only A Water Treatment Company But Also An Energy Producer

Water treatment remains our main activity but we also create extra sustainable value for society through new services, by supplying green energy in the form of heat (sewer thermal energy) and natural gas (biomethane production), for example. Or by advising municipalities to provide space specifically for water and greenery.

Because we want to respond to current and future needs within our environment as much as possible, we held a consultation round with our stakeholders on corporate social responsibility last year. We will use their valuable input to work with them to make even more of a difference in the future.

Alain Bernard Chairman