Ekopak highlights its 'Water-as-a-Service' model: industrial water charged per liter
The Belgian industrial water treatment group published on October 23, 2026, on its website, news entitled 'Water-as-a-Service (WaaS) vs. One-Off Installation'. This is not a new decision but a reminder of the service model that the company offers to its industrial clients, alongside equipment supply.
According to the company's presentation, the Water-as-a-Service (WaaS) model is a service designed for enterprises, which ensures them constant access to water of optimal quality, produced sustainably. Ekopak indicates achieving this by combining its technologies with alternative water sources located on the client's site.
The client pays only per liter of water consumed. The company states that the cost is lower than that of conventional supply and that it handles the entire service "from A to Z".
Ekopak primarily targets sectors with high water consumption, citing agribusiness, textiles, pharmaceuticals and chemicals. It emphasizes the risk for these companies of a "water shortage" at critical times, and summarizes its approach with the formula "Revalue. Reduce. Reuse."
References at AGC Mol and TotalEnergies
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Among the projects presented, Ekopak cites a WaaS installation at glassmaker AGC Mol, in Belgium, as well as a water treatment installation delivered by Ekopak France to TotalEnergies at Grandpuits. The company presents this latter site as the first major WaaS project in France.
For implementation, the group indicates that its engineers analyze each project individually in order to design a tailor-made solution. Technical teams install the equipment on site, and the company reports continuous monitoring enabling operation 24 hours a day, 7 days a week.
Beyond WaaS, Ekopak's offering covers process water production, treatment and reuse of industrial wastewater, operational assistance services as well as energy valorization and biogas from water treatment processes.
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SectorUtilities›Eau / déchets
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Context
Period
Period: S1 2026
Key reported figures
Revenue: 23,5 millions d'euros
Quarterly revenue: 23,5 millions d'euros
EBITDA: -1,6 millions d'euros
EBITDA margin: 14,4 %
Net income: -1,8 millions d'euros
Guidance from the release
Ekopak reconfirms its expectation of considerable revenue growth in 2026 compared to 2025, but company remains vigilant regarding potential liquidity fluctuations
Risks mentioned
Material uncertainty regarding the Company's ability to continue as a going concern due to potential liquidity fluctuations from dynamic growth and project timing
Project Business revenue decline due to projects in engineering phase with relatively lower costs and revenue recognition
Dependence on successful monetization of water treatment installations portfolio and sourcing of additional capital for growth financing
Opportunities identified
Expected substantial revenue growth in H2 2026 from strong Project Business backlog of EUR 49 million as at end of December 2025
Successful acquisition of NWB contributing WaaS revenue and EBITDA from January 1, 2026, with further upside potential identified
Expansion of Recurring Business with strong growth (+53% in H1 2026) and successful integration of acquired assets through improved operational management
Outlook / guidance
Management commentary: For the full year 2026, the Company remains confident in its previously announced expectation of considerable revenue growth compared to 2025. This revenue growth should be accompanied by a further improvement in EBITDA from operating activities.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
