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Belgian (BEL20) Real Estate Industry Analysis
UpdatedApr 03, 2026
DataAggregated Company Financials
Companies16
- 7D2.2%
- 3M-9.5%
- 1Y7.9%
- YTD-9.5%
In the last week, the Real Estate industry is up 1.4%, with VGP up 3.0%. Meanwhile, Atenor actually underperformed within the industry, shrinking 12% in the last week. This takes the industry's 12 month performance to a gain of 7.6%. Looking forward, earnings are forecast to grow by 12% annually.
Industry Valuation and Performance
Has the Belgian Real Estate Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 03 Apr 2026 | €3.1b | €776.5m | €228.4m | 14.4x | 13.7x | 4x |
| Sun, 01 Mar 2026 | €3.9b | €949.6m | €282.1m | 12.7x | 13.7x | 4.1x |
| Tue, 27 Jan 2026 | €3.7b | €922.2m | €317.6m | 11.9x | 11.5x | 4x |
| Thu, 25 Dec 2025 | €3.5b | €922.4m | €317.3m | 13.5x | 11x | 3.8x |
| Sat, 22 Nov 2025 | €3.5b | €922.4m | €317.3m | 12.7x | 11.1x | 3.8x |
| Mon, 20 Oct 2025 | €3.6b | €922.4m | €317.3m | 12.9x | 11.4x | 3.9x |
| Wed, 17 Sep 2025 | €3.4b | €922.0m | €316.8m | 13.5x | 10.7x | 3.7x |
| Fri, 15 Aug 2025 | €3.4b | €944.7m | €186.9m | 16.4x | 18.3x | 3.6x |
| Sun, 13 Jul 2025 | €3.2b | €944.8m | €186.1m | 15.4x | 17.1x | 3.4x |
| Tue, 10 Jun 2025 | €3.1b | €944.8m | €186.1m | 14.1x | 16.4x | 3.2x |
| Thu, 08 May 2025 | €2.9b | €945.4m | €186.2m | 14x | 15.7x | 3.1x |
| Sat, 05 Apr 2025 | €2.8b | €1.1b | €207.9m | 9.7x | 13.5x | 2.5x |
| Mon, 03 Mar 2025 | €2.9b | €800.5m | €155.8m | 8.9x | 18.7x | 3.6x |
| Wed, 29 Jan 2025 | €2.9b | €677.9m | €63.0m | 10.9x | 45.4x | 4.2x |
| Fri, 27 Dec 2024 | €2.6b | €678.0m | €63.0m | 10.4x | 42x | 3.9x |
| Sun, 24 Nov 2024 | €2.9b | €628.4m | -€45,197,427.00 | 16.9x | -64.1x | 4.6x |
| Tue, 22 Oct 2024 | €3.1b | €677.0m | €61.7m | 11.9x | 50.3x | 4.6x |
| Thu, 19 Sep 2024 | €3.3b | €672.5m | €60.0m | 11.9x | 55.5x | 5x |
| Sat, 17 Aug 2024 | €3.6b | €482.1m | -€13,925,249.00 | 14.1x | -255.8x | 7.4x |
| Mon, 15 Jul 2024 | €3.8b | €482.1m | -€13,925,249.00 | 14.1x | -273.5x | 7.9x |
| Wed, 12 Jun 2024 | €3.6b | €483.0m | -€12,511,469.00 | 12.8x | -290.5x | 7.5x |
| Fri, 10 May 2024 | €3.9b | €483.4m | -€12,511,469.00 | 13.1x | -313.7x | 8.1x |
| Sun, 07 Apr 2024 | €3.7b | €499.8m | -€11,659,941.00 | 11.2x | -319.3x | 7.4x |
| Tue, 05 Mar 2024 | €3.6b | €501.0m | €58.5m | 10.6x | 62x | 7.2x |
| Thu, 01 Feb 2024 | €3.9b | €462.5m | -€275,308,486.00 | 11.3x | -14.2x | 8.5x |
| Sat, 30 Dec 2023 | €3.6b | €462.5m | -€275,274,486.00 | 11.5x | -13x | 7.8x |
| Mon, 27 Nov 2023 | €6.6b | €810.6m | €249.4m | 6.7x | 26.4x | 8.1x |
| Wed, 25 Oct 2023 | €6.0b | €810.6m | €249.4m | 6.3x | 24x | 7.4x |
| Fri, 22 Sep 2023 | €6.7b | €810.5m | €249.3m | 6.8x | 26.9x | 8.3x |
| Sun, 20 Aug 2023 | €7.0b | €880.0m | €389.1m | 14.5x | 17.9x | 7.9x |
| Tue, 18 Jul 2023 | €7.2b | €847.6m | €502.3m | 19.8x | 14.3x | 8.5x |
| Thu, 15 Jun 2023 | €7.5b | €847.8m | €502.5m | 20.8x | 14.9x | 8.8x |
| Sat, 13 May 2023 | €7.7b | €858.3m | €505.9m | 21.2x | 15.2x | 8.9x |
| Mon, 10 Apr 2023 | €7.6b | €862.8m | €515.6m | 18.3x | 14.7x | 8.8x |
Price to Earnings Ratio
14.7x
Current Industry PE
- Investors are pessimistic on the Belgian Real Estate industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 13.7x which is higher than its 3-year average PE of -28.7x.
- The 3-year average PS ratio of 5.8x is higher than the industry's current PS ratio of 4.0x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have declined 24% per year over the last three years,
- Revenues have also declined 3.5% per year.
- This means overall sales from these companies are declining and profits are subsequently falling as well.
Industry Trends
Which industries have driven the changes within the Belgian Real Estate industry?
| BE Market | 3.59% | |
| Real Estate | 4.35% | |
| Real Estate | 2.21% | |
| Real Estate Development | 5.31% | |
| Real Estate Operating Companies | 2.01% | |
| Real Estate Services | 0% | 0 |
| Diversified Real Estate | -2.76% | |
Industry PE
- Investors are most optimistic about the Diversified Real Estate industry even though it's trading below its 3-year average PE ratio of 1kx.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
- Investors are most pessimistic about the Real Estate Development industry, which is trading below its 3-year average of 9.3x.
Forecasted Growth
- Analysts are most optimistic on the Real Estate Operating Companies industry, expecting annual earnings growth of 12% over the next 5 years.
- This is better than its past earnings decline of 27% per year.
- In contrast, the Real Estate Development industry is expected to see its earnings grow by 7.8% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| VGP VGP | €86.90 | 3.0% +€68.2m | 9.2% | PE8.2x | |
| IMMO Immobel | €21.80 | 5.3% +€11.3m | 27.5% | PE4.6x | |
| INCLU Inclusio | €17.60 | 1.7% +€2.3m | 24.8% | PE8.7x | |
| ACCB Accentis | €0.028 | 3.8% +€1.3m | -11.3% | PE28x | |
| IEP Iep Invest | €5.15 | 1.0% +€440.3k | -3.7% | PE41.6x |