Ranking · Flanders · NACE 35
Electricity, gas, steam and air conditioning supply: the largest companies in Flanders
As of 14 Nov 2026, 623 companies in Electricity, gas, steam and air conditioning supply (NACE 35) in Flanders publish total assets in recent accounts (financial years 2023 to 2026). The top 10 account for €29.7bn, out of €40.4bn for all of them; median total assets are €1.65m. Fluvius System Operator leads with €10.2bn (financial year 2025).
Top 50 · Electricity, gas, steam and air conditioning supply · Flanders
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 | Fluvius System Operator 9090 Merelbeke-Melle | €10.2bn | €2.90bn | €993.8m | 5,326.3 | 2025 |
| 2 | Fluvius West 8500 Kortrijk | €3.38bn | €541.7m | €1.30bn | — | 2025 |
| 3 | Fluvius Limburg 3500 Hasselt | €3.26bn | €434.3m | €1.66bn | — | 2025 |
| 4 | Fluvius Imewo 9090 Merelbeke-Melle | €3.07bn | €544.9m | €772.5m | — | 2025 |
| 5 | Fluvius Zenne-Dijle 3210 Lubbeek | €2.52bn | €354.2m | €554.6m | — | 2025 |
| 6 | FLUVIUS Antwerpen 2100 Antwerp | €2.46bn | €430.9m | €755.4m | — | 2025 |
| 7 | Fluvius Halle-Vilvoorde 1800 Vilvoorde | €1.36bn | €238.2m | €343.2m | — | 2025 |
| 8 | Fluvius Midden-Vlaanderen 9200 Dendermonde | €1.29bn | €242.7m | €346.1m | — | 2025 |
| 9 | Fluvius Kempen 2300 Turnhout | €1.16bn | €221.6m | €298.6m | — | 2025 |
| 10 | SeaMade 8400 Ostend | €995.6m | €171.5m | €118.5m | — | 2025 |
| 11 | Norther 8400 Ostend | €816.7m | €170.8m | €133.8m | 16.6 | 2025 |
| 12 | Rentel 8400 Ostend | €690.1m | €134.1m | €140.3m | — | 2025 |
| 13 | C - Power 8400 Ostend | €536.4m | €130.5m | €289.0m | 20.9 | 2025 |
| 14 | Parkwind 3000 Leuven | €512.6m | €47.4m | €484.8m | 189.8 | 2025 |
| 15 | Advario GAS Terminal 9130 Beveren-Kruibeke-Zwijndrecht | €496.8m | €74.0m | €199.2m | 66.4 | 2025 |
| 16 | Northwester 2 3000 Leuven | €470.1m | €75.6m | €41.5m | — | 2025 |
| 17 | Northwind 8500 Kortrijk | €392.5m | €121.1m | €67.8m | — | 2025 |
| 18 | Nobelwind 3000 Leuven | €378.9m | €98.2m | €14.3m | — | 2025 |
| 19 | Eneco Belgium 2800 Mechelen | €361.8m | €1.21bn | €128.4m | 244.0 | 2026 |
| 20 | Aspiravi 8500 Kortrijk | €333.0m | €79.5m | €108.5m | 48.7 | 2025 |
| 21 | Elicio 8400 Ostend | €299.9m | €5.44m | €271.1m | 50.0 | 2025 |
| 22 | Belwind 3000 Leuven | €194.8m | €79.7m | €22.3m | — | 2025 |
| 23 | VGP Renewable Energy 2018 Antwerp | €147.2m | — | €9.93m | — | 2025 |
| 24 | E.ON Power Plants Belgium 2800 Mechelen | €135.9m | €33.7m | €38.2m | 19.0 | 2025 |
| 25 | Aspiravi Offshore 8500 Kortrijk | €132.2m | 557,384 € | €113.5m | — | 2025 |
| 26 | Gentse Warmte Centrale 2800 Mechelen | €122.6m | €12.2m | −€13.3m | — | 2025 |
| 27 | ABB 1831 Machelen (Brab.) | €113.3m | €207.0m | €32.4m | 233.6 | 2025 |
| 28 | Biopower Oostende 8400 Ostend | €107.2m | €22.5m | €30.9m | 21.9 | 2025 |
| 29 | E-Wood Energiecentrale 9130 Beveren | €106.5m | €11.7m | €10.00m | — | 2025 |
| 30 | Scholt Energy 8790 Waregem | €104.7m | €329.9m | €9.20m | 33.2 | 2025 |
| 31 | INEOS Oxide Utilities 2070 Beveren-Kruibeke-Zwijndrecht | €103.7m | €139.9m | €43.6m | — | 2025 |
| 32 | Zandvliet Power 2040 Antwerp | €97.6m | €49.9m | €28.8m | — | 2025 |
| 33 | Otary RS 8400 Ostend | €95.6m | €12.4m | €81.5m | 42.7 | 2025 |
| 34 | Ecopower 2600 Antwerp | €94.8m | €71.9m | €66.1m | 48.2 | 2025 |
| 35 | Vlaamse Ecologie-Energie- en Milieuonderneming 3 2000 Antwerp | €90.6m | €34.9m | €14.9m | — | 2025 |
| 36 | Elindus 8790 Waregem | €86.7m | €382.6m | €19.3m | 54.1 | 2025 |
| 37 | Hyoffwind Infrastructure 1500 Halle | €85.1m | — | €83.8m | — | 2025 |
| 38 | Harmignies Energy Storage 3550 Heusden-Zolder | €83.6m | — | −€2.84m | — | 2025 |
| 39 | Kristal Solar Park 3500 Hasselt | €77.2m | €5.72m | €21.2m | — | 2025 |
| 40 | Wind aan de Stroom 2013 9120 Beveren-Kruibeke-Zwijndrecht | €74.9m | €15.0m | €17.4m | — | 2025 |
| 41 | Access to Sustainability for Tenants through Energy Effective Retrofit 2020 Antwerp | €69.0m | — | €12.7m | 7.6 | 2025 |
| 42 | Distributienet- Beheer Brussels Airport 1930 Zaventem | €67.8m | €16.6m | €43.3m | — | 2025 |
| 43 | Elegant 2800 Mechelen | €64.5m | €178.0m | €5.64m | 28.9 | 2025 |
| 44 | A&U Energie 8780 Oostrozebeke | €63.8m | €27.8m | €9.12m | — | 2025 |
| 45 | Ecluse 9130 Beveren-Kruibeke-Zwijndrecht | €63.6m | — | €29.2m | — | 2025 |
| 46 | 7c Solarparken 2800 Mechelen | €61.9m | €2.63m | €29.2m | 2.0 | 2025 |
| 47 | Limburg Win(D)T 3500 Hasselt | €56.3m | €23.0m | €6.00m | — | 2025 |
| 48 | Warmtekracht Ondersteunings Maatschappij 2550 Kontich | €51.9m | €167.1m | €1.58m | 2.0 | 2026 |
| 49 | Beauvent 8400 Ostend | €51.7m | — | €33.9m | 11.5 | 2025 |
| 50 | Eneco Solar Belgium 9051 Ghent | €48.8m | €15.5m | €33.1m | 30.1 | 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.
Electricity, gas, steam and air conditioning supply across Belgium → All sectors · Flanders →
Other sectors · Flanders
- 01 Crop and animal production, hunting and related service activities5,114
- 02 Forestry and logging186
- 03 Fishing and aquaculture102
- 08 Other mining and quarrying88
- 09 Mining support service activities32
- 10 Manufacture of food products3,220
- 11 Manufacture of beverages386
- 12 Manufacture of tobacco products16
- 13 Manufacture of textiles704
- 14 Manufacture of wearing apparel300
- 15 Manufacture of leather and related products of other materials50
- 16 Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials1,102
- 17 Manufacture of paper and paper products196
- 18 Printing and reproduction of recorded media1,328
- 19 Manufacture of coke and refined petroleum products18
- 20 Manufacture of chemicals and chemical products539
- 21 Manufacture of basic pharmaceutical products and pharmaceutical preparations281
- 22 Manufacture of rubber and plastic products561
- 23 Manufacture of other non-metallic mineral products952
- 24 Manufacture of basic metals246
- 25 Manufacture of fabricated metal products, except machinery and equipment4,113
- 26 Manufacture of computer, electronic and optical products460
- 27 Manufacture of electrical equipment490
- 28 Manufacture of machinery and equipment n.e.c.1,127
- 29 Manufacture of motor vehicles, trailers and semi-trailers308
- 30 Manufacture of other transport equipment132
- 31 Manufacture of furniture968
- 32 Other manufacturing959
- 33 Repair, maintenance and installation of machinery and equipment2,363
- 36 Water collection, treatment and supply41
- 37 Sewerage127
- 38 Waste collection, recovery and disposal activities664
- 39 Remediation activities and other waste management service activities112
- 41 Construction of residential and non-residential buildings12,396
- 42 Civil engineering2,400
- 43 Specialised construction activities35,300
- 46 Wholesale trade24,468
- 47 Retail trade26,227
- 49 Land transport and transport via pipelines7,321
- 50 Water transport340
- 51 Air transport173
- 52 Warehousing, storage and support activities for transportation2,362
- 53 Postal and courier activities573
- 55 Accommodation2,104
- 56 Food and beverage service activities16,017
- 58 Publishing activities769
- 59 Motion picture, video and television programme production, sound recording and music publishing activities1,457
- 60 Programming, broadcasting, news agency and other content distribution activities163
- 61 Telecommunication294
- 62 Computer programming, consultancy and related activities18,473
- 63 Computing infrastructure, data processing, hosting and other information service activities2,622
- 64 Financial service activities, except insurance and pension funding20,943
- 65 Insurance, reinsurance and pension funding, except compulsory social security152
- 66 Activities auxiliary to financial services and insurance activities5,254
- 68 Real estate activities32,648
- 69 Legal and accounting activities12,871
- 70 Activities of head offices and management consultancy35,936
- 71 Architectural and engineering activities; technical testing and analysis9,882
- 72 Scientific research and development599
- 73 Activities of advertising, market research and public relations6,897
- 74 Other professional, scientific and technical activities3,245
- 75 Veterinary activities1,234
- 77 Rental and leasing activities2,338
- 78 Employment activities1,219
- 79 Travel agency, tour operator and other reservation service and related activities644
- 80 Investigation and security activities301
- 81 Services to buildings and landscape activities5,101
- 82 Office administrative, office support and other business support activities9,438
- 84 Public administration and defence; compulsory social security98
- 85 Education2,506
- 86 Human health activities25,368
- 87 Residential care activities584
- 88 Social work activities without accommodation1,025
- 90 Arts creation and performing arts activities2,109
- 91 Libraries, archives, museums and other cultural activities129
- 92 Gambling and betting activities119
- 93 Sports activities and amusement and recreation activities2,716
- 94 Activities of membership organisations457
- 95 Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles2,943
- 96 Personal service activities4,642
Municipalities with the most companies in the sector · Flanders
- 3550 Heusden-Zolder (Heusden, Zolder)28
- 3500 Hasselt (Sint-Lambrechts-Herk)26
- 8400 Ostend (Stene, Zandvoorde)24
- 8500 Kortrijk23
- 9051 Ghent (Afsnee, Sint-Denijs-Westrem)23
- 2800 Mechelen (Walem)19
- 2300 Turnhout15
- 2600 Antwerp (Berchem)14
- 3000 Leuven14
- 8790 Waregem14
- 1840 Londerzeel (Malderen, Steenhuffel)13
- 9000 Ghent12
Frequently asked questions
Which is the largest company in Electricity, gas, steam and air conditioning supply in Flanders?
By total assets, it is Fluvius System Operator (€10.2bn, financial year 2025).
How many companies in Electricity, gas, steam and air conditioning supply in Flanders are ranked?
623 out of 636 active companies in the sector with their registered office in the area: those whose latest accounts are less than 3 years old.
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.
Idonis
Analyse companies · Flanders
Filter these companies by size, soundness and trend, follow them and get an alert when their accounts or publications change.
Open the full file →Free account in 30 seconds, by email. No bank card.
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 14 Nov 2026.