Belgian Undervalued based on future growth

Deceuninck

Market Cap: €295.8m

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

Compagnie d'Entreprises CFE

Market Cap: €279.5m

Engages in the real estate development, multitechnics, construction and renovation, and sustainable investment businesses in Belgium, Poland, Luxembourg, and internationally.

What's Cooking Group

Market Cap: €265.4m

Produces and sells meat products and ready meals.

Ontex Group

Market Cap: €232.8m

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

Econocom Group

Market Cap: €230.3m

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

Immobel

Market Cap: €226.0m

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

Hybrid Software Group

Market Cap: €130.0m

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.

Miko

Market Cap: €75.8m

Engages in the coffee roasting business under the Miko brand name in Belgium, France, the Netherlands, the United Kingdom, Germany, Denmark, Norway, Sweden, Poland, the Czech Republic, Slovakia, and Australia.