The largest companies in Belgium
624,644 companies in Belgium have filed annual accounts. Here are the 50 largest by total assets: Anheuser-Busch Inbev leads with €121.9bn (financial year 2025).
Top 50 · Belgium
Ranked by total assets in the latest filed accounts. This is a size criterion, not an assessment.
| # | Company | Total assets | Revenue | Equity | FTE | Year |
|---|---|---|---|---|---|---|
| 1 | Anheuser-Busch Inbev 1000 Brussels | €121.9bn | €1.43bn | €81.3bn | 227.7 | 2025 |
| 2 | AG Insurance 1000 Brussels | €76.3bn | — | €58.4bn | 4,379.8 | 2025 |
| 3 | Exxonmobil Petroleum & Chemical 2030 Antwerp | €41.1bn | €19.9bn | €11.7bn | 1,829.1 | 2025 |
| 4 | KBC Groupe 1080 Molenbeek-Saint-Jean | €39.7bn | €107.5m | €15.3bn | 633.9 | 2025 |
| 5 | KBC Assurances 3000 Leuven | €37.3bn | — | €18.2bn | 1,020.0 | 2025 |
| 6 | AXA Belgium 1000 Brussels | €36.8bn | — | €864.9m | — | 2025 |
| 7 | J.C. General Services 2340 Beerse | €36.8bn | €68.8m | €6.94bn | 72.4 | 2025 |
| 8 | Infrabel 1060 Saint-Gilles | €25.7bn | €1.43bn | €20.2bn | — | 2025 |
| 9 | Allianz Benelux 1000 Brussels | €24.7bn | — | €675.8m | — | 2024 |
| 10 | Atlas Services Belgium 1140 Evere | €22.7bn | €1.83m | €22.7bn | 13.2 | 2025 |
| 11 | Bass Master Issuer 1000 Brussels | €22.6bn | — | 62,000 € | — | 2025 |
| 12 | Janssen Pharmaceutica 2340 Beerse | €21.6bn | €21.8bn | €11.7bn | 5,324.5 | 2025 |
| 13 | P & V Assurances 1210 Saint-Josse-ten-Noode | €20.8bn | — | €1.16bn | — | 2024 |
| 14 | Ethias 4000 Liège | €20.8bn | — | €1.89bn | — | 2025 |
| 15 | UCB Pharma 1070 Anderlecht | €20.7bn | €4.62bn | €16.2bn | 1,960.6 | 2025 |
| 16 | Electrabel 1000 Brussels | €20.5bn | €13.1bn | €10.2bn | 4,261.0 | 2025 |
| 17 | Belfius Assurances 1210 Saint-Josse-ten-Noode | €20.4bn | — | €1.35bn | — | 2024 |
| 18 | GlaxoSmithKline Biologicals 1330 Rixensart | €17.8bn | €7.44bn | €9.98bn | 8,371.0 | 2025 |
| 19 | Engie CC 1000 Brussels | €17.4bn | €75.1m | €3.49bn | 254.0 | 2025 |
| 20 | Lloyd's Insurance Company 1050 Ixelles | €17.2bn | — | €653.6m | — | 2025 |
| 21 | Hedera 1000 Brussels | €16.1bn | — | — | 2.0 | 2025 |
| 22 | Belgian Lion 1000 Brussels | €15.5bn | — | 62,000 € | — | 2025 |
| 23 | Toyota Motor Europe 1140 Evere | €14.3bn | €38.5bn | €6.76bn | 2,787.2 | 2026 |
| 24 | Pfizer Service Company 1932 Zaventem | €14.2bn | €31.9bn | €135.6m | 221.3 | 2025 |
| 25 | Baloise Belgium 2600 Antwerp | €13.6bn | — | €811.4m | — | 2025 |
| 26 | Groupe Bruxelles Lambert 1000 Brussels | €13.3bn | €12.8m | €11.0bn | 49.4 | 2025 |
| 27 | Société Nationale DES Chemins DE FER Belges 1060 Saint-Gilles | €13.1bn | €2.62bn | €8.05bn | — | 2025 |
| 28 | ageas SA/NV 1210 Saint-Josse-ten-Noode | €13.0bn | — | €5.95bn | — | 2025 |
| 29 | U C B 1070 Anderlecht | €12.5bn | — | €9.16bn | 207.2 | 2025 |
| 30 | Vlaamse Maatschappij Voor Sociaal Wonen 1000 Brussels | €12.4bn | 343,301 € | €1.81bn | — | 2025 |
| 31 | NN Insurance Belgium 1060 Saint-Gilles | €12.0bn | — | €452.0m | — | 2025 |
| 32 | Cobrew 3000 Leuven | €11.9bn | — | €199.6m | 6.7 | 2025 |
| 33 | Alpha Credit 1000 Brussels | €11.9bn | €780.1m | €94.9m | 455.0 | 2025 |
| 34 | Societe Federale DE Participations ET D'Investissement 1050 Brussels | €11.7bn | — | €11.4bn | 38.4 | 2025 |
| 35 | Volkswagen International Belgium 1050 Brussels | €11.1bn | €8.80m | €150.0m | 41.4 | 2025 |
| 36 | Syensqo 1130 Brussels | €11.1bn | — | €7.63bn | — | 2025 |
| 37 | Athora Belgium 1050 Ixelles | €11.0bn | — | €336.4m | — | 2023 |
| 38 | Vinci Finance International 1050 Brussels | €10.9bn | — | €5.44bn | 4.0 | 2025 |
| 39 | Esmee Master Issuer 1000 Brussels | €10.5bn | — | 62,000 € | — | 2025 |
| 40 | Inbev Belgium 1070 Anderlecht | €10.5bn | €1.67bn | €2.26bn | 2,835.3 | 2025 |
| 41 | Elia Transmission Belgium 1000 Brussels | €10.5bn | €1.52bn | €3.86bn | 611.6 | 2025 |
| 42 | Fluvius System Operator 9090 Merelbeke-Melle | €10.2bn | €2.90bn | €993.8m | 5,326.3 | 2025 |
| 43 | Vlaams Woningfonds 1000 Brussels | €10.0bn | 356,653 € | €270.0m | 131.2 | 2025 |
| 44 | Proximus 1030 Schaerbeek | €9.96bn | €3.89bn | €1.42bn | 8,312.3 | 2025 |
| 45 | Wise Europe 1050 Ixelles | €9.82bn | €434.0m | €36.4m | 38.8 | 2026 |
| 46 | Atlas Copco Airpower 2610 Antwerp | €9.68bn | €2.31bn | €3.96bn | 3,520.5 | 2025 |
| 47 | BNP Paribas Fortis Factor 1000 Brussels | €9.11bn | €47.7m | €181.3m | 195.2 | 2025 |
| 48 | Société belge des Combustibles nucléaires Synatom 1000 Brussels | €8.98bn | €299.8m | €15.6m | 22.1 | 2025 |
| 49 | Ageas Insurance International NV 1210 Saint-Josse-ten-Noode | €8.71bn | — | €7.23bn | — | 2025 |
| 50 | Colruyt Group 1500 Halle | €8.45bn | €930.1m | €6.32bn | 4,183.3 | 2026 |
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.
“—”: not published. Small companies (micro and abridged accounts) do not have to publish their revenue.
Most represented sectors · Belgium
Frequently asked questions
What is the largest company in Belgium?
By total assets, it is Anheuser-Busch Inbev (€121.9bn, financial year 2025).
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.
How many companies in Belgium have filed annual accounts?
624,644 active companies are registered there and have filed at least one set of annual accounts.
Analyse companies · Belgium
Filter these companies by size, soundness and trend, follow them and get an alert when their accounts or publications change.
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 11 Nov 2026.