Belgian Undiscovered Gems With Strong Fundamentals

Viohalco

Market Cap: €1.5b

Through its subsidiaries, manufactures, and sells aluminium, copper, cables, and steel and steel pipe products.

Spadel

Market Cap: €809.3m

Produces and markets natural mineral water in Belgium.

Wereldhave Belgium

Market Cap: €497.7m

A public regulated real estate company with a focus on commercial property in Belgium.

Exmar

Market Cap: €661.8m

Engages in the provision of shipping and floating infrastructure solutions worldwide.

Campine

Market Cap: €322.5m

Engages in the circular metals and specialty chemicals businesses in Belgium and internationally.

Roularta Media Group

Market Cap: €191.0m

Operates as a multimedia company in Belgium, the Netherlands, and Germany.

What's Cooking Group

Market Cap: €238.5m

Produces and sells meat products and ready meals.

Jensen-Group

Market Cap: €506.5m

Designs, produces, and supplies single machines, systems, turnkey solutions, and laundry process automation for the heavy-duty laundry industry.

Floridienne

Market Cap: €685.6m

Through its subsidiaries, operates in the life sciences, food, and chemistry sectors in Belgium and internationally.

Deceuninck

Market Cap: €304.4m

Engages in the design, manufacture, recycling, and distribution of multi-material window, door, and building solutions in Europe, North America, Turkey, and internationally.