Belgian Undervalued based on future growth

Kinepolis Group

Market Cap: €670.1m

Operates and manages cinemas in Belgium, France, Canada, Spain, the Netherlands, the United States, Luxembourg, and internationally.

bpost/SA

Market Cap: €362.0m

Provides mail and parcel services to individuals, businesses, and public institutions in Belgium, rest of Europe, the United States, and internationally.

Ontex Group

Market Cap: €323.4m

Develops, produces, and sells baby, feminine, and adult care products in Belgium, the United Kingdom, Italy, the United States, France, Poland, and internationally.

Deceuninck

Market Cap: €287.5m

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

What's Cooking Group

Market Cap: €262.6m

Produces and sells meat products and ready meals.

Immobel

Market Cap: €238.8m

Engages in the real estate development business in Belgium, France, Luxembourg, Germany, Poland, Spain, and the United Kingdom.

Econocom Group

Market Cap: €238.6m

Designs and develops digital solutions for public and private companies in Belgium and internationally.

Hybrid Software Group

Market Cap: €123.6m

Develops software and hardware technology solutions for graphics and industrial inkjet printing in the United Kingdom, rest of Europe, North and South America, and Asia.