Belgian Strong Past Earnings Growth, P/E Ratio Below 20

Ackermans & Van Haaren

Market Cap: €7.5b

Engages in the marine engineering and contracting, private banking, real estate and senior care, energy and resources, and growth capital businesses worldwide.

Warehouses De Pauw

Market Cap: €5.0b

WDP develops and invests in logistics real estate warehouses and offices.

Cenergy Holdings

Market Cap: €3.4b

Manufactures and sells aluminium, copper, cables, steel and steel pipes, and other related products in Belgium, Greece, Other European Union countries, Other European countries, the United States, and internationally.

Shurgard Self Storage

Market Cap: €2.9b

Engages in the acquisition, development, and operation of self-storage facilities for business and personal use.

Barco

Market Cap: €994.9m

Develops visualization solutions, and collaboration and networking technologies for the entertainment, enterprise, and healthcare markets in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific.

Retail Estates

Market Cap: €943.7m

Retail Estates NV is a Belgian public real estate investment trust and is a niche player specialised in making out-of-town retail properties located on the periphery of residential areas or along main access roads to urban centres available to users.

Sipef

Market Cap: €854.2m

Operates as an agro-industrial company.

Exmar

Market Cap: €787.2m

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

Jensen-Group

Market Cap: €525.7m

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

Ascencio

Market Cap: €341.7m

A company incorporated under Belgian law, specialising in commercial property investments, and more specifically, supermarkets and retail parks.

Fountain

Market Cap: €9.5m

Engages in the sale, rental, and provision of machines for cold and hot drinks made from freeze-dried or grain products in in France, Belgium, the Netherlands, and rest of European Countries.