To clean up polluted groundwater or protect a drinking water source, it matters not only what is in the water but how fast and in which direction it is moving. iFLUX, founded in 2017 in Niel near Antwerp as a spin-off from the University of Antwerp and the Flemish research institute VITO, measures that "flux": first with patented passive samplers left in wells, and now with a real-time sensor developed with EIC funding.
The European Innovation Council granted €2,425,019.02 towards a €3.46 million project to build the sensor, data logger and analytics. It was piloted at three drinking water companies. iFLUX's filed accounts show the other side: losses of more than €1.3 million in each of 2023, 2024 and 2025, and negative equity at the end of 2025.
Company file
- Legal entity
- iFLUX NV, BE 0683.854.156
- Founded
- October 2017, Niel, Belgium
- Origin
- University of Antwerp and VITO research by Goedele Verreydt (co-founder, CTO)
- Products
- iFLUX passive samplers; real-time sensing with a proprietary flux sensor
- Uses
- Contaminated sites, PFAS remediation, drinking water protection
- Staff
- 11.4 FTE (latest filed accounts)
- EIC project
- iFLUX, 1 Jul 2022 to 31 Oct 2024, closed
- EIC funding
- Grant first
Where iFLUX Stands Today
According to accounts published by Companyweb, iFLUX lost €496,000 in 2022, €1.43 million in 2023, €1.61 million in 2024 and €1.31 million in 2025. Gross margin, the closest public measure of sales in its abridged accounts, fell from €420,000 in 2022 to €90,000 in 2024 before recovering to €450,000 in 2025. Equity, positive after capital increases in 2023 and 2024, was negative again at −€356,000 at the end of 2025, and the register shows capital changes continuing into 2026.
The company's case studies show its work continuing, including a February 2026 project using flux data to design PFAS groundwater treatment.
The Technology: Flux, Not Just Concentration
A conventional groundwater sample gives a concentration at one moment. Flux combines concentration with water flow to show how much pollutant is actually moving and where. iFLUX's samplers measure it over weeks; the new sensor, per the CORDIS report, "measures groundwater flow speed and direction with unmatched accuracy" in real time, with modular water quality measurements, an autonomous data logger and a cloud pipeline that uses machine learning to flag anomalies.
"We deliver insights for data-driven groundwater management."
iFLUX, company statementWhat the EIC Project Promised, and What CORDIS Shows
The project ran from July 2022 to October 2024. CORDIS reports a new flux sensor, a data logger for autonomous operation and a cloud analytics pipeline, validated in pilots with three drinking water companies on problems including saltwater intrusion, water balance and retention time. It does not name the companies or report sales.
- Real-time flux sensorDeliveredSensor, logger and cloud analytics built.
- Validation with usersDeliveredPilots at three drinking water companies.
- Commercial growthPartialGross margin back to €450K in 2025.
- A sustainable businessNot yetLosses over €1.3M a year; negative equity.
What Has Happened Since the Award
The Money
The accounts show equity moving from −€649,000 at the end of 2022 to €752,000 in 2023 and €955,000 in 2024, which means new capital came in during those years, before losses pushed it negative again in 2025. A profile published by Innovations of the World says iFLUX "secured €1.8 million in a new investment round" in summer 2024, without naming investors. In January 2026 iFLUX was named one of ten winners of the Water Resilience Challenge run by the World Economic Forum's UpLink and HCL Group. The EIC award was "grant first", and we found no EIC Fund investment.
What cannot be checked
Who invested in the 2024 round, how the real-time sensor sells compared with the samplers, and how the company will fund its losses are not public.
Why Europe Should Care
PFAS pollution and pressure on drinking water supplies make groundwater monitoring more important across Europe. A Belgian company with a patented way to measure how contamination moves serves a growing need, if it can make the business pay.
What the project promised
Real-time flow and flux measurement to combat groundwater supply and pollution problems.
What the record shows
A working sensor piloted by three utilities, and a company losing over €1M a year with negative equity.
The Verdict
Useful technology, fragile finances
The EIC project delivered what it set out to build, and water utilities tested it. The company's accounts, though, show losses larger than its gross margin every year, with equity negative again at the end of 2025. The recovery in gross margin in 2025 is a hopeful sign; whether it is enough depends on new funding the public cannot see.
iFLUX has not been asked for comment for this article. It is based entirely on public records, company statements and EU project data, linked throughout.
