Vivaqua: financial consolidation announced

Government agreement: what changes

The agreement of 12 February 2026 provides for the financial consolidation of Vivaqua with now-known modalities:

• 180M EUR recapitalisation — the Region takes a 49.99% stake in Vivaqua's capital
• Integration of Hydria (water recycling) into Vivaqua
• The government also earmarks EUR 30 million in accompaniment funding for the water merger
• Savings targets: 18M EUR by 2029 (Vivaqua) + 32M EUR (Hydria)
• A deconsolidation fund will be created to remove Vivaqua's debt from the regional budget

The end of the caretaker period unblocks the multi-year investment plan and tariff decisions that had been pending since June 2024.

Tariff increase and regulator criticism (February 2026)

From 1 January 2026, water tariffs in Brussels increased by 12.5%, amounting to approximately EUR 1.70/month per person according to Vivaqua. The utility's debt stands at approximately EUR 1 billion.

The Brussels regulator BRUGEL published a critical analysis of Vivaqua's management:

• EUR 73M in unpaid bills — the amount of uncollected consumer receivables
• EUR 35M in rejected costs — expenses deemed unjustified by the regulator and excluded from the tariff calculation
• BRUGEL denounces poor management that contributes to tariff pressure on households

The tariff increase comes at a time when the new government has announced a EUR 180M recapitalisation and the creation of a deconsolidation fund to remove the debt from the regional budget.

Series of sewer collapses (February 2026)

In early February 2026, a series of sewer collapses highlighted the critical state of the network:

• Rue Rogier: collapse in mid-January, trams 25 and 62 interrupted for two weeks
• Avenue Churchill (Uccle): tram 7 interrupted on 5 February
• Avenue Plasky: subsidence on 15 January
• Tram lines 81 and 92 also affected

Vivaqua stated: "The sewer network is in poor condition." Of the 1,900 km of network, 220 km require urgent renovation, at an estimated cost of 70M EUR per year. 85% of Vivaqua's debt (over 1 billion EUR) stems from sewer renovation contracts.

Sewerage network and overflows

According to IEB's opinion (November 2025), the Brussels sewerage network has structural weaknesses:

• Overflows: approximately 10 Mm³/year of mixed water (rainwater + wastewater) is discharged directly into the Canal and the Senne during heavy rainfall events
• Parasitic water: of the 62 Mm³/year treated in wastewater treatment plants (WWTP), approximately half consists of rainwater and clear parasitic water — a costly overload of the system
• 15% of wastewater treated in Brussels originates from Flanders — the inter-regional agreements governing these flows lack transparency according to IEB
• 20% of the water price covers services of general interest (flood prevention, clear water collection) which, according to IEB, should not be borne by household water bills
• The relationship between Vivaqua and Hydria is described as "unclear" by IEB: the distribution of competences and responsibilities needs to be clarified in the WMP 2028-2033

Source: IEB, opinion on future challenges of Brussels water policy, 14 November 2025.

Social tariff and water vulnerability

IEB's opinion raises the issue of water access for vulnerable households:

• Social tariff: persons with BIM status (beneficiary of increased intervention) receive a reduction of EUR 55/household/year + EUR 50/dependent/year, but must submit a social intervention request to the CPAS — a mechanism generating massive non-take-up (a form of "social downgrading")
• Social Water Fund: financed by a contribution of EUR 0.005/litre on the water bill, totalling EUR 2.5M/year distributed to CPAS offices — this fund also serves to cover unpaid bills, diverting its social purpose
• IEB calls for a flat-rate and automatic tariff modelled on the Flemish system, without mandatory CPAS involvement
• 31% of Brussels residents live below the poverty line (Xavier May, Belgian Observatory of Inequalities, April 2024)
• Ban on water disconnections: absent from the PGE 2028-2033 consultation document, IEB calls for its maintenance and formal enshrinement

Source: IEB, opinion on future challenges of Brussels water policy, 14 November 2025.

Inherited context

Vivaqua is the Brussels intermunicipal utility responsible for the production and distribution of drinking water as well as wastewater collection. Its pipeline network, spanning over 4,200 km, is largely outdated — some pipes date back to the 19th century.

The operator had developed an ambitious multi-year investment plan to progressively renew the network, improve resilience against extreme weather events, and reduce water losses.

What was blocked (June 2024 — February 2026)

• Approval of the multi-year investment plan
• Tariff increases needed to fund the works
• Priority arbitrations between network renewal and new infrastructure
• Regional guarantees on Vivaqua's borrowings

Routine maintenance continued, but renewal investments were deferred, worsening the network's deterioration.

Issues to monitor

• Public health: an ageing network increases the risk of contamination
• Water losses: network leaks represent a significant waste of the resource
• Climate resilience: stormwater drainage infrastructure is undersized for the increasingly frequent episodes of heavy rainfall
• Tariffs: financial consolidation could entail tariff adjustments for consumers

€180M recapitalisation via repeal of the municipal water dotation (18 May 2026)

In late April 2026, Brussels Local Authorities notified the 19 Brussels municipalities that the "water" dotation — the annual regional grant compensating municipal charges linked to water distribution and waste-water collection — will not be paid in 2026, and that the regional government will propose to Parliament to repeal the ordinance that establishes it. The envelope of €15.7 million/year is reallocated to the recapitalisation of Vivaqua, to the tune of €180 million announced (Local Authorities minister's cabinet).

Reading for the Vivaqua dossier: the recapitalisation materialises the "financial consolidation" set out in the February 2026 government agreement. It enables the multi-year investment plan (~€1.3 billion long-term) to be relaunched in the face of an ageing network and the 2025-2026 road collapses. Political cost: −€15.7M/year for municipalities — concentrated mainly on the City of Brussels (€2.7M), Schaerbeek (€1.5M), Anderlecht/Ixelles/Molenbeek/Uccle (>€1M each). The PTB parliamentary group leader speaks of a "cold shower" and warns about services to the population. To follow: the effective Vivaqua investment trajectory and any tariff adjustments.

See also: institutional card (water dotation section) and mobility card (Vivaqua + STIB Evere works section).

Source: La DH Bruxelles — €16M less for municipalities (18 May 2026). Confidence: official.

The Region a 49% shareholder: decision in principle (11 June 2026)

On 11 June 2026, the Brussels council of ministers took the decision in principle to inject 180 million EUR of capital into Vivaqua. The Region thereby becomes a 49% shareholder of the intermunicipal utility — until now owned by the municipalities — and obtains for the first time a seat on the board of directors, hence a direct say in the management criticised by BRUGEL in February 2026.

The government presents the operation as a move towards the model of the other Regions: De Watergroep in Flanders and the SWDE in Wallonia, two water companies with regional shareholdings. The State Secretary for Climate says she wants to 'reconcile affordable bills with urgent investment' in the sewerage network; the chair of Vivaqua acknowledges that the challenges are 'significant', especially for the sewers.

A complementary decision clarifies the division of roles: Hydria transfers five storm basins and 40 km of collector sewers to Vivaqua. Hydria will focus on wastewater treatment; Vivaqua will handle, in addition to drinking water production and distribution, the management of all storm basins and the sewerage network.

This decision gives concrete form to the recapitalisation announced on 18 May 2026 (financed in particular by the repeal of the 'water' dotation to municipalities, see previous section) and to the 'financial consolidation' commitment of the February 2026 government agreement.

Sources: BX1, BRUZZ, RTBF (12 June 2026). Confidence: unconfirmed (decision in principle communicated by the government, texts not published).

Evere: combined Vivaqua + STIB works block a neighbourhood (19 May 2026)

According to BX1 (19 May 2026), combined Vivaqua + STIB works in Evere have been blocking access to a whole neighbourhood for several weeks, with heavy impact on local shopkeepers. A concrete illustration of the interdependence of works (pipes + roadways + tram) on an ageing network. To set alongside the €180M recapitalisation announced on 18 May.

Source: BX1 — Evere: Vivaqua and STIB works block a neighbourhood (19 May 2026). Confidence: official.