Belgium’s top companies dominate various industries, from beverages to telecommunications. With a combined revenue of $151 billion, these companies play a crucial role in the country’s economy. Let’s take a closer look at the top 10 biggest companies in Belgium and their contributions to their respective sectors.
1. Anheuser-Busch Inbev
Industry: beverage
Revenue (2024: Q1; 2023: Q2, Q3, Q4): $60,870 Millions
Stock symbol: BUD
Anheuser-Busch Inbev Home Page
Anheuser-Busch Inbev, founded in 2008, is headquartered in Leuven, Belgium. It operates in over 50 countries worldwide, making it one of the largest multinational beverage and brewing companies. Anheuser-Busch Inbev is primarily engaged in the production and distribution of beer, with popular brands such as Budweiser, Stella Artois, and Corona. In 2024, the company continued its expansion in the non-alcoholic and low-alcohol beverage segment, reflecting changing consumer preferences.
2. Umicore
Industry: materials
Revenue (2024: Q1; 2023: Q2, Q3, Q4): $25,110 Millions
Stock symbol: UMI.VI
Umicore is headquartered in Brussels, Belgium and was founded in 1805. It operates in over 50 countries worldwide. The company’s main activities include materials technology, recycling, and clean mobility. Umicore offers a wide range of products and services such as catalysts, rechargeable batteries, and recycling solutions. In 2024, Umicore expanded its battery materials production capacity to meet the rising demand from electric vehicle manufacturers.
3. Solvay
Industry: chemicals
Revenue (2024: Q1; 2023: Q2, Q3, Q4): $13,980 Millions
Stock symbol: SOLB.VI
Solvay, founded in 1863, is headquartered in Brussels, Belgium. It operates in over 60 countries worldwide, making it a truly global company. Solvay is primarily engaged in the production of advanced materials and specialty chemicals. Their diverse range of products and services includes chemicals for various industries, such as automotive, aerospace, healthcare, and energy. Solvay is known for its innovative solutions and well-established brands, such as Rhodiasolv, Rhovanil, and Augeo. In 2024, Solvay completed the spin-off of its specialty chemicals division, focusing more on sustainable solutions and green chemistry.
4. KBC
Industry: banking
Revenue (2024: Q1; 2023: Q2, Q3, Q4): $9,380 Millions
Stock symbol: KBCSF
KBC is a multinational bank and insurance company headquartered in Brussels, Belgium. It was founded in 1889. KBC operates in several countries, including Belgium, Czech Republic, Slovakia, Hungary, and Bulgaria, among others. The company’s main activities include retail banking, corporate banking, asset management, and insurance services. KBC offers a wide range of products and services, including savings accounts, loans, investment solutions, and insurance policies. In 2024, KBC invested heavily in digital transformation, launching new AI-driven financial products for retail customers.
5. GBL
Industry: investment holding
Revenue (2024: Q1; 2023: Q2, Q3, Q4): $8,900 Millions
Stock symbol: GBLB.VI
GBL is headquartered in Brussels, Belgium, and was founded in 1956. It operates in multiple countries worldwide, with a presence in over 50 countries. GBL engages in various activities such as investment holding, private equity, and real estate. It offers a diverse range of products and services, including financial investments, asset management, and property development. GBL is associated with renowned brands such as Imerys, LafargeHolcim, and Adidas. In 2024, GBL increased its investments in renewable energy and digital infrastructure sectors.
6. UCB
Industry: pharmaceuticals
Revenue (2024: Q1; 2023: Q2, Q3, Q4): $7,020 Millions
Stock symbol: UCB.VI
UCB is a multinational pharmaceutical company headquartered in Brussels, Belgium, founded in 1928. It operates in over 40 countries worldwide, with a focus on research, development, and commercialization of innovative medicines and solutions for patients suffering from severe diseases such as epilepsy, Parkinson’s disease, and autoimmune disorders. UCB’s portfolio includes a range of prescription drugs, biologics, and medical devices, and it is known for its brands such as Keppra, Vimpat, and Cimzia. In 2024, UCB launched a new biologic drug for autoimmune disorders, marking a significant milestone in its R&D efforts.
7. Proximus
Industry: telecommunications
Revenue (2024: Q1; 2023: Q2, Q3, Q4): $6,380 Millions
Stock symbol: PROX.VI
Proximus is a telecommunications company headquartered in Brussels, Belgium. It was founded in 1994. Proximus operates in multiple countries, including Belgium, Luxembourg, and the Netherlands. The company’s main activities revolve around providing telecommunication services, including mobile, internet, and television. Proximus offers a range of products and services to both residential and business customers. Some of its notable brands include Proximus, Scarlet, and Tango. In 2024, Proximus rolled out 5G coverage across Belgium and expanded its fiber-optic network to more rural areas.
8. Bpost
Industry: postal services
Revenue (2024: Q1; 2023: Q2, Q3, Q4): $4,430 Millions
Stock symbol: 13B.F
Bpost is a Belgian postal company headquartered in Brussels, founded in 2010. It operates in Belgium and has expanded its operations to several other countries. Bpost’s main activities include postal services, parcel delivery, and e-commerce solutions. It offers a wide range of products and services, including express delivery, international shipping, and logistics solutions. Bpost also has various brands under its umbrella, such as Bpack, Bpost Bank, and Bpost Mobile. In 2024, Bpost increased its investment in green logistics and introduced electric delivery vehicles in major cities.
9. Sofina
Industry: investment
Revenue (2024: Q1; 2023: Q2, Q3, Q4): $3,220 Millions
Stock symbol: SOF.VI
Sofina is headquartered in Brussels, Belgium and was founded in 1956. It operates in multiple countries, with a presence in over 40 countries worldwide. The company is primarily engaged in investment activities, focusing on long-term investments in various sectors such as consumer goods, retail, and healthcare. Sofina’s portfolio includes a diverse range of companies and brands, including those in the food and beverage, technology, and financial services industries. In 2024, Sofina increased its exposure to tech startups and sustainable food ventures.
10. Telenet
Industry: telecommunications
Revenue (2024: Q1; 2023: Q2, Q3, Q4): $2,950 Millions
Stock symbol: TNET.BR
Telenet is a telecommunications company headquartered in Mechelen, Belgium, founded in 1996. It operates in Belgium and has a presence in several other countries. Telenet provides a range of services including cable television, high-speed internet, and mobile phone services. It also offers various products such as set-top boxes and modems. Telenet is known for its brands such as Yelo TV and King & Kong. In 2024, Telenet launched new streaming and cloud gaming services, strengthening its position in the digital entertainment market.
The combined revenue of Belgium’s top 10 companies amounts to $151 Billion
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