Belgian Undervalued based on future growth

Aedifica/SA

Market Cap: €3.1b

Aedifica is a Regulated Real Estate Company under Belgian law specialised in European healthcare real estate, particularly in elderly care.

Solvay

Market Cap: €2.9b

Provides basic and performance chemicals worldwide.

NV Bekaert

Market Cap: €1.8b

Provides steel wire transformation and coating technologies worldwide.

Cmb.Tech

Market Cap: €1.5b

Engages in marine transportation business in Belgium.

Econocom Group

Market Cap: €307.0m

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

Deceuninck

Market Cap: €298.2m

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

Compagnie d'Entreprises CFE

Market Cap: €240.1m

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

Miko

Market Cap: €63.6m

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.