Belgian Undiscovered Gems With Strong Fundamentals

Spadel

Market Cap: €938.0m

Produces and markets natural mineral water in Belgium.

Gimv

Market Cap: €1.6b

A private equity and venture capital firm specializing in direct and fund of funds investments.

Exmar

Market Cap: €817.4m

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

Campine

Market Cap: €269.3m

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

Jensen-Group

Market Cap: €534.9m

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

Floridienne

Market Cap: €568.1m

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

Sipef

Market Cap: €856.3m

Operates as an agro-industrial company.

What's Cooking Group

Market Cap: €194.9m

Produces and sells meat products and ready meals.

Deceuninck

Market Cap: €313.8m

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

Ion Beam Applications

Market Cap: €338.3m

Designs, produces, and markets solutions for cancer diagnosis and treatments in Belgium, the United States, and internationally.