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Investlytic Rankings

Ranking of the largest Belgian companies

Largest listed companies whose headquarters are in Belgium (95 companies ranked), by market capitalization, with their revenue and net income for the 2025 fiscal year.

Share prices and capitalizations at 2026-10-29·Reference fiscal year 2025·Calculated on 2026-11-01· 95 companies ranked
Metric : market capitalization at the date of the indicated prices; revenue and net income for fiscal year 2025 (published annual accounts). Scope : companies whose headquarters country is Belgium and whose 2025 accounts are published. Currency : Amounts converted into US dollars at the exchange rate of the day of calculation; the amount in the currency of the accounts is repeated under each value. Only companies whose data is published are ranked: a missing value excludes the company, it is never replaced by zero or estimated.
#EnterpriseMarketSector Market cap (USD)Turnover 2025Net income 2025
1Anheuser-Busch InBev SA/NVABI.BR🇧🇪EuropeConsumer Defensive140,80 billion $125,90 Md€59,32 billion $6,84 billion $
2UCB S.A.UCB.BR🇧🇪EuropeHealthcare60,00 billion $53,65 Md€8,66 billion $1,74 billion $
3KBC Group N.V.KBC.BR🇧🇪EuropeFinancial Services50,62 billion $45,26 Md€26,21 billion $3,99 billion $
4ageas SA/NVAGS.BR🇧🇪EuropeFinancial Services17,67 billion $15,80 Md€10,11 billion $1,91 billion $
5Elia Group SA/NVELI.BR🇧🇪EuropeUtilities15,73 billion $14,07 Md€4,97 billion $655,3 M$
6Lotus Bakeries N.V.LOTB.BR🇧🇪EuropeConsumer Defensive12,35 billion $11,04 Md€1,52 billion $192,7 M$
7Sofina S.A.SOF.BR🇧🇪EuropeFinancial Services10,87 billion $9,72 Md€144,6 M$126,4 M$
8Groupe Bruxelles Lambert S.A.GBLB.BR🇧🇪EuropeFinancial Services10,39 billion $9,29 Md€7,49 billion $-699,4 M$
9D'Ieteren Group S.A.DIE.BR🇧🇪EuropeConsumer Cyclical10,17 billion $9,09 Md€8,98 billion $474,8 M$
10Ackermans & Van Haaren N.V.ACKB.BR🇧🇪EuropeIndustrials9,62 billion $8,60 Md€6,67 billion $662,7 M$
11Syensqo SA/NVSYENS.BR🇧🇪EuropeBasic Materials8,72 billion $7,80 Md€6,44 billion $-69,3 M$
12KBC Ancora SCAKBCA.BR🇧🇪EuropeFinancial Services7,98 billion $7,13 Md€443,9 M$435,5 M$
13Aedifica S.A.AED.BR🇧🇪EuropeReal Estate5,94 billion $5,31 Md€414,0 M$273,4 M$
14Warehouses De PauwWDP.BR🇧🇪EuropeReal Estate5,59 billion $5,00 Md€583,9 M$395,8 M$
15Cmb.Tech N.V.CMBT.BR🇧🇪EuropeEnergy5,33 billion $4,76 Md€1,67 billion $160,7 M$
16Cenergy Holdings S.A.CENER.BR🇧🇪EuropeIndustrials5,28 billion $4,72 Md€2,30 billion $216,4 M$
17Umicore S.A.UMI.BR🇧🇪EuropeIndustrials4,74 billion $4,24 Md€21,67 billion $430,0 M$
18DEME Group N.V.DEME.BR🇧🇪EuropeIndustrials4,72 billion $4,22 Md€4,65 billion $387,3 M$
19Colruyt Group N.V.COLR.BR🇧🇪EuropeConsumer Defensive4,61 billion $4,12 Md€12,26 billion $377,2 M$
20Viohalco S.A.VIO.BR🇧🇪EuropeIndustrials4,45 billion $3,98 Md€8,08 billion $263,3 M$
21Titan Cement International S.A.TITC.BR🇧🇪EuropeBasic Materials3,94 billion $3,52 Md€2,98 billion $264,3 M$
22Azelis Group N.V.AZE.BR🇧🇪EuropeBasic Materials3,19 billion $2,85 Md€4,62 billion $124,4 M$
23Solvay S.A.SOLB.BR🇧🇪EuropeBasic Materials2,78 billion $2,49 Md€5,31 billion $33,6 M$
24Titan America S.A.TTAM🇧🇪EuropeBasic Materials2,56 billion $1,66 billion $185,4 M$
25Melexis N.V.MELE.BR🇧🇪EuropeTechnology2,45 billion $2,19 Md€939,0 M$125,8 M$
26Proximus PLCPROX.BR🇧🇪EuropeCommunication Services2,24 billion $2,00 Md€6,99 billion $445,1 M$
27N.V. Bekaert S.A.BEKB.BR🇧🇪EuropeIndustrials2,14 billion $1,92 Md€4,14 billion $75,3 M$
28Galapagos N.V.GLPGF🇧🇪EuropeHealthcare2,11 billion $1,24 billion $358,9 M$
29VGP N.V.VGP.BR🇧🇪EuropeReal Estate2,06 billion $1,84 Md€195,6 M$324,8 M$
30Gimv N.V.GIMB.BR🇧🇪EuropeFinancial Services2,04 billion $1,82 Md€97,2 M$193,8 M$
31Solvac S.A.SOLV.BR🇧🇪EuropeBasic Materials1,97 billion $1,76 Md€4 215 $140,1 M$
32Fagron N.V.FAGR.BR🇧🇪EuropeHealthcare1,92 billion $1,72 Md€1,06 billion $101,8 M$
33Montea Comm. VAMONT.BR🇧🇪EuropeReal Estate1,71 billion $1,53 Md€187,2 M$182,6 M$
34Orange Belgium S.A.OBEL.BR🇧🇪EuropeCommunication Services1,67 billion $1,50 Md€2,20 billion $46,2 M$
35Fluxys Belgium S.A.FLUX.BR🇧🇪EuropeEnergy1,65 billion $1,48 Md€860,1 M$85,9 M$
36Spadel S.a.SPA.BR🇧🇪EuropeConsumer Defensive1,62 billion $1,45 Md€446,8 M$57,2 M$
37Kinepolis Group N.V.KIN.BR🇧🇪EuropeCommunication Services1,44 billion $1,29 Md€631,8 M$42,4 M$
38Sipef N.V.SIP.BR🇧🇪EuropeConsumer Defensive1,29 billion $1,15 Md€570,4 M$130,6 M$
39Xior Student Housing N.V.XIOR.BR🇧🇪EuropeReal Estate1,29 billion $1,15 Md€250,4 M$76,1 M$
40Tessenderlo Group N.V.TESB.BR🇧🇪EuropeBasic Materials1,13 billion $1,01 Md€3,09 billion $-90,7 M$
41Retail Estates N.V.RET.BR🇧🇪EuropeReal Estate1,04 billion $928,6 M€180,6 M$137,5 M$
42Exmar N.V.EXM.BR🇧🇪EuropeEnergy819,9 M$733,1 M€248,1 M$77,4 M$
43X-FAB Silicon Foundries SEXFABF🇧🇪EuropeTechnology783,8 M$905,7 M$31,4 M$
44Recticel SA/NVRECT.BR🇧🇪EuropeBasic Materials767,4 M$686,2 M€732,6 M$11,4 M$
45Jensen-Group N.V.JEN.BR🇧🇪EuropeIndustrials740,9 M$662,4 M€604,8 M$65,6 M$
46Wereldhave BelgiumWEHB.BR🇧🇪EuropeReal Estate641,9 M$574,0 M€108,5 M$47,4 M$
47Floridienne S.A.FLOB.BR🇧🇪EuropeIndustrials623,9 M$557,9 M€811,8 M$8,9 M$
48Care Property Invest N.V.CPINV.BR🇧🇪EuropeReal Estate581,5 M$520,0 M€82,6 M$66,2 M$
49TINC N.V.TINC.BR🇧🇪EuropeFinancial Services559,6 M$500,4 M€30,8 M$45,4 M$
50Barco N.V.BAR.BR🇧🇪EuropeTechnology548,2 M$490,2 M€1,08 billion $80,0 M$
51Ion Beam Applications S.A.IBAB.BR🇧🇪EuropeHealthcare521,8 M$466,5 M€693,6 M$14,2 M$
52Nextensa NV/SANEXTA.BR🇧🇪EuropeReal Estate516,6 M$461,9 M€164,3 M$37,2 M$
53Vastned BelgiumVASTB.BR🇧🇪EuropeReal Estate491,1 M$439,1 M€78,9 M$54,9 M$
54Compagnie du Bois Sauvage S.A.COMB.BR🇧🇪EuropeFinancial Services478,7 M$428,0 M€380,1 M$42,3 M$
55Materialise N.V.MTLS🇧🇪EuropeTechnology424,1 M$287,5 M$8,3 M$
56Ascencio S.A.ASCE.BR🇧🇪EuropeReal Estate407,9 M$364,7 M€69,8 M$39,9 M$
57Van de Velde N.V.VAN.BR🇧🇪EuropeConsumer Cyclical407,3 M$364,2 M€226,4 M$19,9 M$
58Home Invest Belgium S.A.HOMI.BR🇧🇪EuropeReal Estate393,7 M$352,0 M€45,1 M$66,8 M$
59Deceuninck N.V.DECB.BR🇧🇪EuropeIndustrials374,1 M$334,5 M€864,2 M$27,0 M$
60Campine N.V.CAMB.BR🇧🇪EuropeIndustrials301,1 M$269,2 M€856,7 M$63,3 M$
61Moury Construct S.A.MOUR.BR🇧🇪EuropeIndustrials300,1 M$268,4 M€279,1 M$38,6 M$
62Compagnie d'Entreprises CFE S.A.CFEB.BR🇧🇪EuropeIndustrials295,4 M$264,1 M€1,16 billion $37,5 M$
63EVS Broadcast Equipment S.A.EVS.BR🇧🇪EuropeTechnology261,0 M$233,4 M€232,8 M$43,1 M$
64bpost NV/SABPOST.BR🇧🇪EuropeIndustrials238,9 M$213,6 M€5,00 billion $-45,0 M$
65Whitestone GroupROCK.BR🇧🇪EuropeIndustrials210,7 M$188,4 M€390,2 M$1,2 M$
66Immobel S.A.IMMO.BR🇧🇪EuropeReal Estate200,7 M$179,5 M€367,6 M$54,2 M$
67Brouwerij Handelsmaatschappij N.V.COBH.BR🇧🇪EuropeConsumer Defensive179,5 M$160,5 M€122,0 M$-12,8 M$
68Roularta Media Group N.V.ROU.BR🇧🇪EuropeCommunication Services166,3 M$148,7 M€337,2 M$5,4 M$
69Banque nationale de Belgique S.A.BNB.BR🇧🇪EuropeFinancial Services149,0 M$133,2 M€5,48 billion $-1,70 billion $
70Warehouses Estates Belgium SCAWEB.BR🇧🇪EuropeReal Estate148,9 M$133,1 M€32,5 M$16,9 M$
71Qrf Comm. VAQRF.BR🇧🇪EuropeReal Estate147,5 M$131,9 M€16,2 M$20,4 M$
72Texaf S.A.TEXF.BR🇧🇪EuropeReal Estate146,0 M$130,5 M€41,9 M$10,0 M$
73Inclusio S.A.INCLU.BR🇧🇪EuropeReal Estate131,6 M$117,7 M€18,9 M$17,2 M$
74Ontex Group N.V.ONTEX.BR🇧🇪EuropeConsumer Defensive125,3 M$112,0 M€1,97 billion $-194,0 M$
75Hyloris Pharmaceuticals S.A.HYL.BR🇧🇪EuropeHealthcare119,9 M$107,2 M€8,1 M$-7,1 M$
76Miko N.V.MIKO.BR🇧🇪EuropeConsumer Defensive101,4 M$90,7 M€349,2 M$13,2 M$
77Nyxoah S.A.NYXH🇧🇪EuropeHealthcare88,8 M$11,2 M$-100,7 M$
78Agfa-Gevaert N.V.AGFB.BR🇧🇪EuropeIndustrials70,1 M$62,7 M€1,21 billion $-79,4 M$
79Atenor S.A.ATEB.BR🇧🇪EuropeReal Estate60,0 M$53,7 M€164,4 M$-155,2 M$
80Quest for Growth BelgiumQFG.BR🇧🇪EuropeFinancial Services54,5 M$48,7 M€7,0 M$-2,7 M$
81Ekopak N.V.EKOP.BR🇧🇪EuropeUtilities51,8 M$46,3 M€57,2 M$-15,5 M$
82Banimmo S.A.BANI.BR🇧🇪EuropeReal Estate37,7 M$33,7 M€8,6 M$940 558 $
83Accentis N.V.ACCB.BR🇧🇪EuropeReal Estate37,4 M$33,5 M€6,5 M$1,4 M$
84ABO-Group Environment N.V.ABO.BR🇧🇪EuropeIndustrials31,2 M$27,9 M€119,1 M$742 605 $
85European Medical SolutionsALEMS.BR🇧🇪EuropeHealthcare17,0 M$15,2 M€55,8 M$2,1 M$
86Immo Moury SCAIMMOU.BR🇧🇪EuropeReal Estate15,7 M$14,0 M€3,3 M$1,4 M$
87MDxHealth S.A.MDXH🇧🇪EuropeHealthcare15,6 M$107,9 M$-33,5 M$
88Belysse Group N.V.BELYS.BR🇧🇪EuropeConsumer Cyclical13,9 M$12,4 M€284,3 M$-7,4 M$
89Celyad Oncology S.A.CYAD.BR🇧🇪EuropeHealthcare10,6 M$9,5 M€23 486 $928 256 $
90Fountain S.A.FOU.BR🇧🇪EuropeConsumer Defensive6,8 M$6,1 M€33,9 M$938 321 $
91Invibes Advertising N.V.ALINV.PA🇧🇪EuropeCommunication Services6,2 M$5,6 M€22,1 M$-10,3 M$
92Crescent N.V.OPTI.BR🇧🇪EuropeTechnology5,8 M$5,2 M€10,3 M$-2,5 M$
93Coil S.A./N.V.ALCOI.PA🇧🇪EuropeBasic Materials3,7 M$3,3 M€21,7 M$-5,3 M$
94Softimat S.A.SOFT.BR🇧🇪EuropeReal Estate3,2 M$2,8 M€751 552 $1,0 M$
95Oxurion N.V.OXUR.BR🇧🇪EuropeHealthcare125 916 $112 588 €620 701 $-4,2 M$
Raw data (JSON)

⚠ Ranking provided for information purposes, based on public data. It does not constitute investment advice. Values may contain source errors and change with financial publications.

Frequently Asked Questions

About this ranking

Which companies are in this ranking?
Listed companies headquartered in Belgium whose 2025 fiscal year accounts are published, ranked by market capitalization. A company without this data is excluded, never estimated.
Are the amounts comparable between countries?
Yes: amounts are converted to US dollars at the exchange rate of the calculation day, and the amount in local currency is repeated under each value.
Is this ranking investment advice?
No. It is provided for information purposes and does not constitute investment advice.

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