Belgian Undervalued based on future growth

Cenergy Holdings

Market Cap: €1.9b

Manufactures and sells aluminium, copper, cables, steel and steel pipes, and other related products in Belgium and internationally.

NV Bekaert

Market Cap: €1.7b

Provides steel wire transformation and coating technologies worldwide.

Econocom Group

Market Cap: €303.4m

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

Deceuninck

Market Cap: €301.7m

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: €191.0m

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

Miko

Market Cap: €64.6m

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.

ABO-Group Environment

Market Cap: €53.5m

An engineering company, provides geotechnics, soil remediation, energy, and water and waste management solutions in Belgium, the Netherlands, France, and internationally.