Belgian Undervalued based on future growth

VGP

Market Cap: €2.6b

Develops, owns, and manages logistics and semi-industrial real estate, and ancillary offices.

Barco

Market Cap: €686.9m

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.

Compagnie d'Entreprises CFE

Market Cap: €326.3m

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

Deceuninck

Market Cap: €306.9m

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

Econocom Group

Market Cap: €246.6m

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

Immobel

Market Cap: €237.3m

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

Ontex Group

Market Cap: €202.0m

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

Miko

Market Cap: €80.1m

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.