Highest published revenue in Belgium
43,152 companies in Belgium publish their revenue in recent accounts; here are the top 50. Toyota Motor Europe leads with €38.5bn (financial year 2026).
Top 50 · Belgium
Ranked by revenue published in the latest filed accounts (accounts less than 3 years old).
| # | Company | Total assets | Revenue | Equity | FTE | Year |
|---|---|---|---|---|---|---|
| 1 | Toyota Motor Europe 1140 Evere | €14.3bn | €38.5bn | €6.76bn | 2,787.2 | 2026 |
| 2 | Pfizer Service Company 1932 Zaventem | €14.2bn | €31.9bn | €135.6m | 221.3 | 2025 |
| 3 | Janssen Pharmaceutica 2340 Beerse | €21.6bn | €21.8bn | €11.7bn | 5,324.5 | 2025 |
| 4 | Exxonmobil Petroleum & Chemical 2030 Antwerp | €41.1bn | €19.9bn | €11.7bn | 1,829.1 | 2025 |
| 5 | TotalEnergies Petrochemicals & Refining 1000 Brussels | €6.33bn | €15.5bn | €4.72bn | 352.8 | 2025 |
| 6 | Eurelec Trading 1040 Brussels | €1.55bn | €13.4bn | €1.52m | 39.2 | 2025 |
| 7 | Cargill NV 2800 Mechelen | €2.46bn | €13.4bn | €494.3m | 992.8 | 2025 |
| 8 | Electrabel 1000 Brussels | €20.5bn | €13.1bn | €10.2bn | 4,261.0 | 2025 |
| 9 | Mastercard Europe 1410 Waterloo | €6.08bn | €9.63bn | €657.8m | 2,358.7 | 2025 |
| 10 | Colruyt Food Retail 1500 Halle | €3.05bn | €8.05bn | €786.2m | 16,584.4 | 2026 |
| 11 | GlaxoSmithKline Biologicals 1330 Rixensart | €17.8bn | €7.44bn | €9.98bn | 8,371.0 | 2025 |
| 12 | Barry Callebaut Belgium NV 9280 Lebbeke | €2.63bn | €6.57bn | €246.6m | 1,016.6 | 2025 |
| 13 | Volvo CAR Belgium NV 9000 Ghent | €1.58bn | €6.25bn | €220.1m | 5,497.2 | 2025 |
| 14 | TotalEnergies Marketing Belgium 1000 Brussels | €852.2m | €6.08bn | €211.4m | 508.7 | 2025 |
| 15 | Scabel 1000 Brussels | €600.5m | €6.07bn | €1.76m | 37.5 | 2025 |
| 16 | BASF Antwerpen 2040 Antwerp | €2.38bn | €5.69bn | €998.9m | 3,640.9 | 2025 |
| 17 | Delhaize Le Lion/De Leeuw 1730 Asse | €2.02bn | €5.49bn | €239.4m | 3,423.3 | 2025 |
| 18 | Umicore 1000 Brussels | €6.26bn | €5.43bn | €2.10bn | 3,209.0 | 2025 |
| 19 | Arcelormittal Belgium 1000 Brussels | €4.55bn | €4.89bn | €1.66bn | 5,838.8 | 2025 |
| 20 | UCB Pharma 1070 Anderlecht | €20.7bn | €4.62bn | €16.2bn | 1,960.6 | 2025 |
| 21 | Mazda Motor Logistics Europe 2830 Willebroek | €1.80bn | €4.62bn | €116.1m | 307.0 | 2026 |
| 22 | Aurubis Olen 2250 Olen | €1.31bn | €4.19bn | €976.0m | 704.0 | 2025 |
| 23 | Volvo Group Belgium 9041 Ghent | €943.9m | €4.17bn | €123.5m | 3,810.2 | 2025 |
| 24 | D'Ieteren Automotive SA/NV 1050 Ixelles | €1.23bn | €4.11bn | €334.6m | 832.1 | 2025 |
| 25 | Carrefour Belgium 1930 Zaventem | €1.42bn | €4.02bn | €42.5m | 6,365.9 | 2025 |
| 26 | Proximus 1030 Schaerbeek | €9.96bn | €3.89bn | €1.42bn | 8,312.3 | 2025 |
| 27 | Bridgestone Europe NV/SA 1930 Zaventem | €4.89bn | €3.89bn | €2.33bn | 429.5 | 2025 |
| 28 | argenx 9052 Ghent | €7.01bn | €3.80bn | €5.71bn | 510.9 | 2025 |
| 29 | Gmed Healthcare 1831 Machelen (Brab.) | €2.14bn | €3.61bn | €85.1m | 89.4 | 2025 |
| 30 | Philip Morris Benelux 2600 Antwerp | €1.31bn | €3.45bn | €13.1m | 187.4 | 2025 |
| 31 | Luminus 1210 Saint-Josse-ten-Noode | €2.37bn | €3.12bn | €772.5m | 1,181.2 | 2025 |
| 32 | Daikin Europe N.V. 8400 Ostend | €2.53bn | €3.11bn | €1.24bn | 1,724.0 | 2026 |
| 33 | Fluvius System Operator 9090 Merelbeke-Melle | €10.2bn | €2.90bn | €993.8m | 5,326.3 | 2025 |
| 34 | Avnet Europe 1831 Machelen (Brab.) | €3.77bn | €2.84bn | €1.26bn | 216.1 | 2025 |
| 35 | Aperam Stainless Belgium 3600 Genk | €2.13bn | €2.78bn | €527.3m | 2,081.9 | 2025 |
| 36 | KUWAIT PETROLEUM (Belgium) 2018 Antwerp | €628.7m | €2.73bn | €214.6m | 426.3 | 2025 |
| 37 | Société Nationale DES Chemins DE FER Belges 1060 Saint-Gilles | €13.1bn | €2.62bn | €8.05bn | — | 2025 |
| 38 | BMW Belgium Luxembourg 2880 Bornem | €659.2m | €2.59bn | €41.7m | 176.6 | 2025 |
| 39 | HR Rail 1060 Saint-Gilles | €549.4m | €2.37bn | €28.3m | 27,811.0 | 2025 |
| 40 | Atlas Copco Airpower 2610 Antwerp | €9.68bn | €2.31bn | €3.96bn | 3,520.5 | 2025 |
| 41 | Viatris International Supply Point 1560 Hoeilaart | €3.12bn | €2.30bn | €1.42bn | 40.0 | 2025 |
| 42 | Mercedes-Benz Belgium Luxembourg 1200 Woluwe-Saint-Lambert | €402.2m | €2.20bn | €59.3m | 212.5 | 2025 |
| 43 | bpost 1000 Brussels | €4.27bn | €2.19bn | €657.6m | 23,730.2 | 2025 |
| 44 | St. Jude Medical Coordination Center 1930 Zaventem | €1.37bn | €2.12bn | €568.5m | 349.1 | 2025 |
| 45 | Telenet 2800 Mechelen | €4.49bn | €2.12bn | €2.70bn | 2,475.5 | 2025 |
| 46 | Mercedes-Benz Financial Services Belux 1200 Woluwe-Saint-Lambert | €1.44bn | €2.09bn | €82.0m | 59.0 | 2025 |
| 47 | UCB Biopharma 1070 Anderlecht | €7.15bn | €2.04bn | €1.18bn | 1,395.2 | 2025 |
| 48 | Argentor Essayeurs 2018 Antwerp | €145.6m | €1.94bn | €8.38m | 13.7 | 2025 |
| 49 | Belgian Shell 1000 Brussels | €317.5m | €1.94bn | €92.0m | 172.7 | 2025 |
| 50 | Stellantis Belux 1130 Brussels | €778.5m | €1.94bn | €20.3m | 237.5 | 2025 |
Ranking based on each company's own annual accounts (statutory, not consolidated): a subsidiary and its parent appear separately, and the ranking differs from lists based on consolidated group accounts. These are the revenue figures published in the annual accounts. Small companies (micro and abridged accounts) do not have to publish theirs: they do not appear in this ranking.
Most represented sectors · Belgium
Frequently asked questions
Which company in Belgium has the highest revenue?
Toyota Motor Europe, with €38.5bn in published revenue (financial year 2026).
Why does this ranking differ from other lists?
It uses each company's annual accounts as filed with the National Bank, not consolidated group accounts. A holding, a subsidiary or a purchasing entity can therefore appear separately. Only companies whose latest accounts are less than 3 years old are ranked.
Why are some companies missing?
Small companies (micro and abridged accounts) do not have to publish their revenue: only the 43,152 that publish it are ranked.
Analyse companies · Belgium
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Open the full file →Active companies (legal entities) that have filed at least one set of annual accounts, based on the Crossroads Bank for Enterprises and the National Bank of Belgium. The sector is the main activity in the register; the municipality is that of the registered office. Data updated on 10 Oct 2026.