The company was established in 1990 by the Flemish government. Its mission is to design, prefinance, build and operate all supra-municipal infrastructure needed to treat domestic wastewater. Nowadays, Aquafin manages 281 wastewater treatment plants, over 5.000 km of supra-municipal collectors and 1.394 pumping stations and detention basins. Aquafin also offers its services for the expansion and management of the local municipal system. A municipality may choose to have a long-term partnership by means of a concession or award contracts to Aquafin on an ad hoc basis. In addition, they can join the joint ventures that Aquafin has with the water companies water-link (rio-link), De Watergroep (RioAct and Rio-P) and Vivaqua.
Aquafin's subsidiary Aquaplus, focuses in Belgium on the operation of industrial watewater treatment plants. Internationally, Aquaplus offers technological assistance and conducts a wide range of studies. Abroad the company mostly operates through partners and joint ventures.