Ranking · Flanders · NACE 72
Scientific research and development: highest revenue in Flanders
As of 12 Nov 2026, 43 companies in Scientific research and development (NACE 72) in Flanders publish their revenue in recent accounts (financial years 2024 to 2025). The top 10 account for €7.06bn, out of €7.42bn for all of them; median revenue is €10.00m. argenx leads with €3.80bn (financial year 2025).
Top 43 · Scientific research and development · Flanders
Ranked by revenue published in the latest filed accounts (accounts less than 3 years old).
| # | Company | Total assets | Revenue | Equity | FTE | Year |
|---|---|---|---|---|---|---|
| 1 | argenx 9052 Ghent | €7.01bn | €3.80bn | €5.71bn | 510.9 | 2025 |
| 2 | Lakefront Biotherapeutics 2800 Mechelen | €3.34bn | €1.10bn | €3.15bn | 172.9 | 2025 |
| 3 | Interuniversitair Micro-Electronica Centrum 3001 Leuven | €1.27bn | €804.3m | €512.1m | 2,904.3 | 2025 |
| 4 | Basf Belgium Coordination Center 2040 Antwerp | €215.4m | €627.4m | €105.9m | 555.7 | 2025 |
| 5 | Legend Biotech Belgium 9052 Ghent | €142.4m | €285.9m | €62.9m | 846.9 | 2025 |
| 6 | Ablynx 9052 Ghent | €417.3m | €147.9m | €359.2m | 363.5 | 2025 |
| 7 | Vlaamse Instelling voor Technologisch Onderzoek 2400 Mol | €256.2m | €88.2m | €88.8m | 969.8 | 2025 |
| 8 | CellCarta 2610 Antwerp | €60.5m | €79.9m | €25.9m | 242.7 | 2025 |
| 9 | LabCorp 2800 Mechelen | €36.1m | €64.2m | €26.0m | 254.5 | 2025 |
| 10 | Cargill R&D Centre Europe 1800 Vilvoorde | €99.2m | €62.7m | €74.3m | 186.9 | 2025 |
| 11 | Vlaams Instituut voor Biotechnologie - Flanders Institute for Biotechnology 9052 Ghent | €323.7m | €52.6m | €172.4m | 928.4 | 2025 |
| 12 | Biocartis 2800 Mechelen | €61.8m | €48.2m | €37.2m | 205.6 | 2025 |
| 13 | TMC Science & Technology 1930 Zaventem | €24.0m | €41.8m | €3.00m | 324.5 | 2025 |
| 14 | Oystershell 9820 Merelbeke-Melle | €32.7m | €39.8m | €15.1m | 37.6 | 2025 |
| 15 | Flanders Make 3920 Lommel | €234.7m | €32.3m | €26.0m | 218.6 | 2025 |
| 16 | Instituut voor Tropische Geneeskunde 2000 Antwerp | €68.1m | €21.1m | €36.2m | 454.9 | 2025 |
| 17 | Eurofins Amatsigroup 9052 Ghent | €6.78m | €17.5m | €3.65m | 76.4 | 2025 |
| 18 | Poulpharm 8870 Izegem | €15.5m | €17.0m | €2.17m | 106.0 | 2025 |
| 19 | Omega Pharma Innovation & Development 9050 Ghent | €246.6m | €16.3m | €240.2m | 38.2 | 2025 |
| 20 | Inari Agriculture, NV 9052 Ghent | €12.1m | €12.1m | €10.2m | 56.5 | 2025 |
| 21 | Orionis Biosciences 9052 Ghent | €6.88m | €11.6m | €4.92m | 36.3 | 2025 |
| 22 | CD3 Labs 3001 Leuven | €1.79m | €10.00m | 21,267 € | 43.5 | 2025 |
| 23 | von Karman Institute for Fluid Dynamics 1640 Sint-Genesius-Rode | €67.4m | €9.76m | €27.0m | 158.0 | 2025 |
| 24 | Etherna Immunotherapies 2845 Niel | €12.8m | €8.79m | −€3.91m | 52.1 | 2025 |
| 25 | IMEC International 3001 Leuven | €18.0m | €8.41m | 512,723 € | — | 2025 |
| 26 | Proefcentrum Fruitteelt 3800 Sint-Truiden | €10.4m | €3.14m | €8.34m | 92.4 | 2025 |
| 27 | Institut Flamand de la Mer 8400 Ostend | €27.0m | €1.86m | €18.2m | 168.0 | 2025 |
| 28 | PharmaFluidics 9052 Ghent | €16.4m | €1.44m | €15.9m | 13.8 | 2025 |
| 29 | Devgen 9052 Ghent | €130.9m | €1.13m | €128.3m | 2.9 | 2025 |
| 30 | Societe Internationale de la Science Horticole - I.S.H.S. - International Society for Horticultural Science 3360 Bierbeek | €1.52m | 931,992 € | €1.06m | 7.0 | 2025 |
| 31 | Life Sciences Research Partners 3000 Leuven | €11.8m | 363,437 € | €11.7m | 3.2 | 2025 |
| 32 | Pxlence 9000 Ghent | 147,731 € | 307,489 € | −75,779 € | — | 2025 |
| 33 | ECOO Innovation 3530 Houthalen-Helchteren | €18.6m | 300,000 € | €6.56m | — | 2025 |
| 34 | Vanbecelaere Luc 8820 Torhout | 197,209 € | 244,480 € | 143,766 € | — | 2025 |
| 35 | the International Network for Information on Ventilation and Energy performance 9000 Ghent | 676,007 € | 239,033 € | 175,467 € | — | 2025 |
| 36 | ORSI Academy 9090 Merelbeke-Melle | €2.02m | 237,028 € | €1.51m | — | 2025 |
| 37 | Confo Therapeutics 9052 Ghent | €37.8m | 176,727 € | €33.3m | 59.0 | 2025 |
| 38 | Palmir 2160 Wommelgem | 4 € | 162,645 € | −8,121 € | — | 2024 |
| 39 | Larno Computing 1851 Grimbergen | 431,598 € | 159,600 € | 393,808 € | — | 2025 |
| 40 | Aphea.Bio 9052 Ghent | €16.2m | 14,118 € | €11.4m | 56.9 | 2025 |
| 41 | Antarctiq 2280 Grobbendonk | 36,922 € | 11,876 € | −190,946 € | — | 2025 |
| 42 | Spray Ventures 9800 Deinze | 27,331 € | 4,968 € | −€3.69m | — | 2025 |
| 43 | Koninklijke Academie voor Nederlandse Taal en Letteren 9000 Ghent | €1.52m | 593 € | 998,004 € | 6.4 | 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.
Scientific research and development across Belgium → All sectors · Flanders →
Other sectors · Flanders
- 01 Crop and animal production, hunting and related service activities202
- 08 Other mining and quarrying23
- 10 Manufacture of food products505
- 11 Manufacture of beverages47
- 13 Manufacture of textiles114
- 14 Manufacture of wearing apparel23
- 16 Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials66
- 17 Manufacture of paper and paper products58
- 18 Printing and reproduction of recorded media75
- 20 Manufacture of chemicals and chemical products205
- 21 Manufacture of basic pharmaceutical products and pharmaceutical preparations30
- 22 Manufacture of rubber and plastic products153
- 23 Manufacture of other non-metallic mineral products151
- 24 Manufacture of basic metals72
- 25 Manufacture of fabricated metal products, except machinery and equipment348
- 26 Manufacture of computer, electronic and optical products96
- 27 Manufacture of electrical equipment63
- 28 Manufacture of machinery and equipment n.e.c.164
- 29 Manufacture of motor vehicles, trailers and semi-trailers58
- 30 Manufacture of other transport equipment22
- 31 Manufacture of furniture74
- 32 Other manufacturing73
- 33 Repair, maintenance and installation of machinery and equipment130
- 35 Electricity, gas, steam and air conditioning supply146
- 37 Sewerage18
- 38 Waste collection, recovery and disposal activities156
- 41 Construction of residential and non-residential buildings882
- 42 Civil engineering222
- 43 Specialised construction activities1,342
- 46 Wholesale trade2,896
- 47 Retail trade1,541
- 49 Land transport and transport via pipelines790
- 50 Water transport49
- 51 Air transport17
- 52 Warehousing, storage and support activities for transportation466
- 53 Postal and courier activities50
- 55 Accommodation105
- 56 Food and beverage service activities498
- 58 Publishing activities55
- 59 Motion picture, video and television programme production, sound recording and music publishing activities67
- 60 Programming, broadcasting, news agency and other content distribution activities10
- 61 Telecommunication45
- 62 Computer programming, consultancy and related activities1,005
- 63 Computing infrastructure, data processing, hosting and other information service activities57
- 64 Financial service activities, except insurance and pension funding1,457
- 66 Activities auxiliary to financial services and insurance activities150
- 68 Real estate activities1,138
- 69 Legal and accounting activities292
- 70 Activities of head offices and management consultancy1,100
- 71 Architectural and engineering activities; technical testing and analysis290
- 73 Activities of advertising, market research and public relations207
- 74 Other professional, scientific and technical activities72
- 75 Veterinary activities20
- 77 Rental and leasing activities175
- 78 Employment activities135
- 79 Travel agency, tour operator and other reservation service and related activities43
- 80 Investigation and security activities25
- 81 Services to buildings and landscape activities261
- 82 Office administrative, office support and other business support activities336
- 84 Public administration and defence; compulsory social security24
- 85 Education463
- 86 Human health activities385
- 87 Residential care activities346
- 88 Social work activities without accommodation243
- 90 Arts creation and performing arts activities180
- 91 Libraries, archives, museums and other cultural activities19
- 93 Sports activities and amusement and recreation activities144
- 94 Activities of membership organisations109
- 95 Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles185
- 96 Personal service activities211
Municipalities with the most companies in the sector · Flanders
Frequently asked questions
Which company in Scientific research and development in Flanders has the highest revenue?
argenx, with €3.80bn of published revenue (financial year 2025).
Why are some companies missing?
Small companies (micro and abridged accounts) do not have to publish their revenue: only the 43 that publish it, out of 610 companies in the sector in the area, are ranked.
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.
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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 12 Nov 2026.