Largest Listed Companies in Belgium by Market Capitalization
Belgium is widely considered the birthplace of the “Bourse” concept, and its exchange has been operating since 1801, when it was founded by decree of Napoleon. Today, Euronext Brussels lists around 142 companies and trades exclusively in euros. In 2000, the Brussels Stock Exchange merged with the Paris Bourse and Amsterdam Stock Exchange to form Euronext, the first pan-European exchange.
The BEL 20 index, launched in 1991, tracks up to 20 of the most capitalized and liquid Belgian stocks. Financials and healthcare dominate the upper ranks of the market. Key sectors and companies on Euronext Brussels include:
- Consumer Staples: Anheuser-Busch InBev (AB InBev) — the world’s largest brewer, headquartered in Leuven, with more than 630 beer brands
- Healthcare & Biotechnology: UCB SA, argenx SE — Belgium has a strong pharma and biotech cluster
- Financials: KBC Group (banking and insurance), Groupe Bruxelles Lambert (investment holding with over sixty years of stock exchange listing), Sofina, ageas
- Utilities & Industrials: Elia Group (regulated electricity transmission), Ackermans & Van Haaren (engineering and construction)
- Real Estate: Cofinimmo, Warehouses De Pauw (WDP) — structured as Belgian REITs (GVV-SIR)
All Belgian listed companies trade in EUR and are regulated by the Financial Services and Markets Authority (FSMA). BEL 20 membership requires at least 15% free float and Euronext Brussels as the company’s market of reference. Since 2005, the index has also been open to European companies with a significant presence in Belgium.
Regulated brokerThe table below ranks the largest Belgian publicly traded companies by market capitalization. All data — including share price and market cap — updates regularly to reflect current conditions.
| Stock | Price | Change % | Marketcap |
|---|---|---|---|
 Anheuser-Busch Inbev BUD | $83.97 | 1.42% | 165.35B |
 KBC KBCSF | $146.20 | 6.54% | 58.33B |
 UCB UCB.VI | €228.90 | 0.74% | 43.64B |
 D'Ieteren Group DIE.BR | €183.50 | 0.43% | 9.65B |
 GBL GBLB.VI | €79.10 | 0.88% | 9.42B |
 ageas AGS.BR | €74.20 | 0.00% | 15.52B |
 Lotus Bakeries LOTB.BR | €11,440.00 | 1.24% | 9.30B |
 Sofina SOF.VI | €246.60 | 0.88% | 8.74B |
 Elia Group ELI.BR | €132.60 | 1.61% | 14.47B |
 Warehouses De Pauw WDP.BR | €21.82 | 0.46% | 5.25B |
 Colruyt COLR.BR | €38.68 | 0.92% | 4.60B |
Azelis Group AZE.BR | €11.60 | 0.09% | 2.82B |
Ackermans & Van Haaren ACKB.BR | €268.00 | 0.81% | 8.76B |
Umicore UMI.VI | €23.56 | 1.64% | 5.67B |
DEME Group DEME.BR | €165.20 | 1.08% | 4.16B |
KBC Ancora KBCA.BR | €89.90 | 0.55% | 6.92B |
Solvay SOLB.VI | €26.76 | 0.07% | 2.80B |
 Melexis NV MELE.BR | €71.35 | 0.28% | 2.81B |
Aedifica AED.BR | €69.30 | 0.65% | 5.78B |
 VGP NV VGP.BR | €83.30 | 1.88% | 2.53B |
 NV Bekaert BEKB.BR | €38.35 | 1.67% | 1.85B |
Solvac SOLV.BR | €80.00 | 0.63% | 1.71B |
 Titan Cement International TITC.BR | €53.00 | 0.38% | 3.96B |
 Proximus PROX.VI | €6.32 | 0.72% | 2.04B |
Montea Comm MONT.BR | €67.50 | 0.00% | 1.57B |
Tessenderlo Group TESB.BR | €21.80 | 0.93% | 1.29B |
Viohalco VIO.BR | €17.90 | 4.58% | 4.64B |
 Fluxys Belgium FLUX.BR | €19.90 | 2.45% | 1.40B |
Fagron FAGR.BR | €22.35 | 0.45% | 1.64B |
Gimv NV GIMB.BR | €44.75 | 0.33% | 1.64B |
Barco NV BAR.BR | €8.04 | 0.06% | 654.36M |
Kinepolis Group KIN.BR | €41.55 | 0.12% | 1.11B |
 Retail Estates NV RET.BR | €66.20 | 0.30% | 994.75M |
 X-FAB XFAB.PA | €6.77 | 0.22% | 884.38M |
 Ontex Group ONTEX.BR | €2.51 | 3.30% | 199.73M |
 Bpost 13B.F | €1.53 | 1.55% | 305.20M |
Care Property Invest NV CPINV.BR | €12.56 | 0.32% | 530.95M |
 Immobel IMMO.BR | €21.30 | 0.47% | 217.85M |
Materialise NV MTLS | $6.75 | 0.59% | 390.56M |
 Nyxoah NYXH | $1.31 | 7.09% | 131.10M |
Banque nationale de Belgique BNB.BR | €389.00 | 5.14% | 155.60M |
MDxHealth MDXH | $0.438 | 1.04% | 22.50M |