Ranking · Flanders · NACE 72
Scientific research and development: the largest companies in Flanders
As of 12 Nov 2026, 599 companies in Scientific research and development (NACE 72) in Flanders publish total assets in recent accounts (financial years 2023 to 2026). The top 10 account for €14.0bn, out of €15.9bn for all of them; median total assets are 487,335 €. argenx leads with €7.01bn (financial year 2025).
Top 50 · Scientific research and development · 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 | 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 | United Beet Seeds 3300 Tienen | €673.5m | — | €659.6m | — | 2026 |
| 5 | Ablynx 9052 Ghent | €417.3m | €147.9m | €359.2m | 363.5 | 2025 |
| 6 | Vlaams Instituut voor Biotechnologie - Flanders Institute for Biotechnology 9052 Ghent | €323.7m | €52.6m | €172.4m | 928.4 | 2025 |
| 7 | Vlaamse Instelling voor Technologisch Onderzoek 2400 Mol | €256.2m | €88.2m | €88.8m | 969.8 | 2025 |
| 8 | Omega Pharma Innovation & Development 9050 Ghent | €246.6m | €16.3m | €240.2m | 38.2 | 2025 |
| 9 | Flanders Make 3920 Lommel | €234.7m | €32.3m | €26.0m | 218.6 | 2025 |
| 10 | Basf Belgium Coordination Center 2040 Antwerp | €215.4m | €627.4m | €105.9m | 555.7 | 2025 |
| 11 | Legend Biotech Belgium 9052 Ghent | €142.4m | €285.9m | €62.9m | 846.9 | 2025 |
| 12 | Devgen 9052 Ghent | €130.9m | €1.13m | €128.3m | 2.9 | 2025 |
| 13 | Cargill R&D Centre Europe 1800 Vilvoorde | €99.2m | €62.7m | €74.3m | 186.9 | 2025 |
| 14 | Ardena Holding 9030 Ghent | €87.1m | — | €84.2m | — | 2025 |
| 15 | Instituut voor Tropische Geneeskunde 2000 Antwerp | €68.1m | €21.1m | €36.2m | 454.9 | 2025 |
| 16 | von Karman Institute for Fluid Dynamics 1640 Sint-Genesius-Rode | €67.4m | €9.76m | €27.0m | 158.0 | 2025 |
| 17 | Biocartis 2800 Mechelen | €61.8m | €48.2m | €37.2m | 205.6 | 2025 |
| 18 | CellCarta 2610 Antwerp | €60.5m | €79.9m | €25.9m | 242.7 | 2025 |
| 19 | Ogeda 1800 Vilvoorde | €53.5m | — | €53.3m | — | 2025 |
| 20 | Confo Therapeutics 9052 Ghent | €37.8m | 176,727 € | €33.3m | 59.0 | 2025 |
| 21 | LabCorp 2800 Mechelen | €36.1m | €64.2m | €26.0m | 254.5 | 2025 |
| 22 | Oystershell 9820 Merelbeke-Melle | €32.7m | €39.8m | €15.1m | 37.6 | 2025 |
| 23 | Augustine Therapeutics 3001 Leuven | €30.9m | — | €29.0m | 11.0 | 2025 |
| 24 | Swave 3001 Leuven | €29.9m | — | €20.8m | 19.9 | 2025 |
| 25 | LO²CUS Gent 9052 Ghent | €29.4m | — | 532,347 € | 1.0 | 2024 |
| 26 | Institut Flamand de la Mer 8400 Ostend | €27.0m | €1.86m | €18.2m | 168.0 | 2025 |
| 27 | TMC Science & Technology 1930 Zaventem | €24.0m | €41.8m | €3.00m | 324.5 | 2025 |
| 28 | Innotech 3550 Heusden-Zolder | €23.6m | — | −229,071 € | — | 2025 |
| 29 | Magnax 8500 Kortrijk | €18.7m | — | €15.8m | 6.7 | 2025 |
| 30 | ECOO Innovation 3530 Houthalen-Helchteren | €18.6m | 300,000 € | €6.56m | — | 2025 |
| 31 | Alixar 3511 Hasselt | €18.5m | — | €11.3m | — | 2025 |
| 32 | Pall Artelis 3320 Hoegaarden | €18.2m | — | €6.30m | 7.9 | 2025 |
| 33 | IMEC International 3001 Leuven | €18.0m | €8.41m | 512,723 € | — | 2025 |
| 34 | Caloritum 2030 Antwerp | €17.4m | — | €14.8m | — | 2025 |
| 35 | PharmaFluidics 9052 Ghent | €16.4m | €1.44m | €15.9m | 13.8 | 2025 |
| 36 | Biotalys 9051 Ghent | €16.3m | — | €9.87m | 58.2 | 2025 |
| 37 | Aphea.Bio 9052 Ghent | €16.2m | 14,118 € | €11.4m | 56.9 | 2025 |
| 38 | Poulpharm 8870 Izegem | €15.5m | €17.0m | €2.17m | 106.0 | 2025 |
| 39 | Viaverda 9070 Destelbergen | €14.2m | — | €9.68m | 93.3 | 2025 |
| 40 | Etherna Immunotherapies 2845 Niel | €12.8m | €8.79m | −€3.91m | 52.1 | 2025 |
| 41 | AstriVax Therapeutics 3001 Leuven | €12.5m | — | €10.7m | 17.1 | 2025 |
| 42 | Instituut Born-Bunge voor Wetenschappelijk Onderzoek VZW 2610 Antwerp | €12.2m | — | €12.1m | 5.6 | 2025 |
| 43 | Inari Agriculture, NV 9052 Ghent | €12.1m | €12.1m | €10.2m | 56.5 | 2025 |
| 44 | Life Sciences Research Partners 3000 Leuven | €11.8m | 363,437 € | €11.7m | 3.2 | 2025 |
| 45 | Microbial Resource Management Health 9052 Ghent | €11.7m | — | €6.93m | 22.8 | 2025 |
| 46 | Biomedical Systems 3000 Leuven | €11.2m | — | €9.06m | 22.3 | 2025 |
| 47 | Protealis 9052 Ghent | €11.1m | — | €9.06m | 17.2 | 2025 |
| 48 | Proefcentrum Fruitteelt 3800 Sint-Truiden | €10.4m | €3.14m | €8.34m | 92.4 | 2025 |
| 49 | AmphiStar 9052 Ghent | €10.1m | — | €6.40m | 13.5 | 2025 |
| 50 | B.C. Oncology 1930 Zaventem | €9.50m | — | €9.48m | — | 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.
“—”: not published. Small companies (micro and abridged accounts) do not have to publish their revenue.
Scientific research and development 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 apparel299
- 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 metals244
- 25 Manufacture of fabricated metal products, except machinery and equipment4,115
- 26 Manufacture of computer, electronic and optical products460
- 27 Manufacture of electrical equipment489
- 28 Manufacture of machinery and equipment n.e.c.1,127
- 29 Manufacture of motor vehicles, trailers and semi-trailers307
- 30 Manufacture of other transport equipment132
- 31 Manufacture of furniture968
- 32 Other manufacturing960
- 33 Repair, maintenance and installation of machinery and equipment2,361
- 35 Electricity, gas, steam and air conditioning supply623
- 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 buildings12,390
- 42 Civil engineering2,400
- 43 Specialised construction activities35,294
- 46 Wholesale trade24,470
- 47 Retail trade26,224
- 49 Land transport and transport via pipelines7,319
- 50 Water transport339
- 51 Air transport173
- 52 Warehousing, storage and support activities for transportation2,364
- 53 Postal and courier activities573
- 55 Accommodation2,106
- 56 Food and beverage service activities16,014
- 58 Publishing activities768
- 59 Motion picture, video and television programme production, sound recording and music publishing activities1,456
- 60 Programming, broadcasting, news agency and other content distribution activities163
- 61 Telecommunication294
- 62 Computer programming, consultancy and related activities18,472
- 63 Computing infrastructure, data processing, hosting and other information service activities2,623
- 64 Financial service activities, except insurance and pension funding20,945
- 65 Insurance, reinsurance and pension funding, except compulsory social security152
- 66 Activities auxiliary to financial services and insurance activities5,256
- 68 Real estate activities32,646
- 69 Legal and accounting activities12,868
- 70 Activities of head offices and management consultancy35,926
- 71 Architectural and engineering activities; technical testing and analysis9,882
- 73 Activities of advertising, market research and public relations6,897
- 74 Other professional, scientific and technical activities3,244
- 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 activities5,098
- 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 activities25,365
- 87 Residential care activities583
- 88 Social work activities without accommodation1,024
- 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 activities2,717
- 94 Activities of membership organisations457
- 95 Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles2,942
- 96 Personal service activities4,643
Municipalities with the most companies in the sector · Flanders
Frequently asked questions
Which is the largest company in Scientific research and development in Flanders?
By total assets, it is argenx (€7.01bn, financial year 2025).
How many companies in Scientific research and development in Flanders are ranked?
599 out of 610 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.
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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.