Ranking · Wallonia · NACE 17
Manufacture of paper and paper products: the largest companies in Wallonia
As of 14 Nov 2026, 57 companies in Manufacture of paper and paper products (NACE 17) in Wallonia publish total assets in recent accounts (financial years 2023 to 2026). The top 10 account for €726.2m, out of €831.3m for all of them; median total assets are €2.30m. Burgo Ardennes leads with €219.8m (financial year 2025).
Top 50 · Manufacture of paper and paper products · Wallonia
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 | Burgo Ardennes 6762 Virton | €219.8m | €379.1m | €87.1m | 591.5 | 2025 |
| 2 | Smurfit Westrock Cartomills 7011 Mons | €141.8m | €98.3m | €96.6m | 306.3 | 2025 |
| 3 | Essity PLD Belgium 4801 Verviers | €96.5m | €170.9m | €53.1m | 351.0 | 2025 |
| 4 | Europal 7700 Mouscron | €77.8m | €62.2m | €13.0m | 137.7 | 2025 |
| 5 | Cartonnage Lammerant 7900 Leuze-en-Hainaut | €70.1m | €69.1m | €23.9m | 106.3 | 2025 |
| 6 | Avery Dennison Materials Belgium 7060 Soignies | €41.4m | €58.6m | €24.3m | — | 2025 |
| 7 | Ahlstrom Malmedy S.A. 4960 Malmedy | €23.9m | €41.5m | €6.52m | 111.5 | 2025 |
| 8 | POP Factory 1400 Nivelles | €20.3m | €15.7m | €5.57m | 25.9 | 2025 |
| 9 | Semoulin Packaging 7350 Hensies | €17.7m | €22.7m | €14.0m | 84.0 | 2025 |
| 10 | Atelier 85 5620 Florennes | €16.8m | €7.86m | €13.3m | 174.3 | 2025 |
| 11 | Nutripack Wavre 1300 Wavre | €16.3m | — | €4.34m | 6.6 | 2025 |
| 12 | Mavane 1410 Waterloo | €9.37m | €13.6m | €1.68m | 3.8 | 2025 |
| 13 | Eurodividers 7321 Bernissart | €7.84m | — | €5.95m | 30.1 | 2025 |
| 14 | packaging4professionals 6061 Charleroi | €6.19m | — | €1.81m | 22.4 | 2025 |
| 15 | Cartonnages Delsaux 7700 Mouscron | €6.19m | — | €3.70m | 19.9 | 2025 |
| 16 | Wefold Mettet 5640 Mettet | €4.89m | — | €3.15m | 18.8 | 2025 |
| 17 | Groupe Trehout PLV 7730 Estaimpuis | €4.66m | — | €2.05m | 46.7 | 2025 |
| 18 | Cartonneries de Wallonie 6180 Courcelles | €3.87m | — | €3.11m | 25.6 | 2025 |
| 19 | Impritex 1300 Wavre | €3.63m | — | €2.36m | 15.3 | 2025 |
| 20 | Label-Pak-Int'l Co 1300 Wavre | €3.13m | — | −304,992 € | 23.9 | 2023 |
| 21 | Papier Hova 7700 Mouscron | €3.01m | — | €1.83m | 12.0 | 2025 |
| 22 | Pacarbel 4800 Verviers | €2.90m | — | €1.67m | 33.4 | 2025 |
| 23 | Galand Emballages 4920 Aywaille | €2.71m | 0 € | €1.60m | 9.9 | 2025 |
| 24 | Bemapack 4890 Thimister-Clermont | €2.70m | — | 328,992 € | 6.8 | 2025 |
| 25 | Les Infernaux 6001 Charleroi | €2.52m | — | 291,224 € | 14.5 | 2025 |
| 26 | CPB 4770 Amel | €2.49m | — | €1.69m | 8.1 | 2025 |
| 27 | Happy Paper 7850 Enghien | €2.45m | — | −248,260 € | 28.8 | 2023 |
| 28 | Propac 4000 Liège | €2.41m | — | 562,223 € | 1.6 | 2025 |
| 29 | Label'OR 4850 Plombières | €2.30m | — | €1.49m | 7.7 | 2025 |
| 30 | Alizé 4432 Ans | €2.09m | — | €1.54m | 11.9 | 2025 |
| 31 | Etibel International 1410 Waterloo | €1.80m | — | €1.80m | — | 2025 |
| 32 | Brangs en Heinrich 4821 Dison | €1.66m | — | €1.23m | 5.0 | 2025 |
| 33 | SABEL - Emballage 4801 Verviers | €1.40m | — | €1.08m | 5.0 | 2025 |
| 34 | Premium Cellulose Insulation Manufacturer 5590 Ciney | €1.28m | €3.76m | 317,149 € | 8.0 | 2025 |
| 35 | Rotacol 5300 Andenne | €1.27m | — | 876,963 € | 7.1 | 2025 |
| 36 | Papeteries Pierre MERTENS 1325 Chaumont-Gistoux | €1.06m | — | 532,986 € | 5.5 | 2025 |
| 37 | Barcodex 6000 Charleroi | 540,553 € | — | 442,847 € | — | 2025 |
| 38 | Continental Cellulose 1410 Waterloo | 512,948 € | — | 353,482 € | 3.0 | 2025 |
| 39 | Transfosac 7060 Soignies | 505,705 € | — | 213,553 € | 4.0 | 2025 |
| 40 | C.D. Paper Products 1495 Villers-la-Ville | 474,296 € | — | 258,889 € | — | 2025 |
| 41 | Envelnor Export 7170 Manage | 447,306 € | €1.24m | 154,510 € | 2.0 | 2025 |
| 42 | Bausac 7331 Saint-Ghislain | 432,972 € | — | 301,318 € | 0.9 | 2025 |
| 43 | Emballages Gruselle 6220 Fleurus | 420,638 € | — | 156,081 € | 2.0 | 2025 |
| 44 | Relior 7500 Tournai | 315,016 € | — | 278,248 € | — | 2025 |
| 45 | Coloprint 1400 Nivelles | 246,023 € | — | 19,562 € | — | 2025 |
| 46 | Atelier Formes et Reliefs 4252 Geer | 226,448 € | — | 161,425 € | 3.0 | 2025 |
| 47 | Etablissements C. de Roy 6960 Manhay | 203,591 € | — | −90,365 € | — | 2025 |
| 48 | Globalprinting 1410 Waterloo | 127,934 € | — | 127,107 € | — | 2025 |
| 49 | Renaissance Design 6042 Charleroi | 126,970 € | — | 38,301 € | 2.3 | 2023 |
| 50 | JAM & RY 4000 Liège | 113,955 € | — | 59,567 € | — | 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.
Manufacture of paper and paper products across Belgium → All sectors · Wallonia →
Other sectors · Wallonia
- 01 Crop and animal production, hunting and related service activities2,551
- 02 Forestry and logging541
- 03 Fishing and aquaculture31
- 08 Other mining and quarrying121
- 09 Mining support service activities17
- 10 Manufacture of food products1,478
- 11 Manufacture of beverages275
- 13 Manufacture of textiles155
- 14 Manufacture of wearing apparel101
- 15 Manufacture of leather and related products of other materials18
- 16 Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials442
- 18 Printing and reproduction of recorded media532
- 20 Manufacture of chemicals and chemical products239
- 21 Manufacture of basic pharmaceutical products and pharmaceutical preparations179
- 22 Manufacture of rubber and plastic products196
- 23 Manufacture of other non-metallic mineral products441
- 24 Manufacture of basic metals140
- 25 Manufacture of fabricated metal products, except machinery and equipment1,528
- 26 Manufacture of computer, electronic and optical products210
- 27 Manufacture of electrical equipment185
- 28 Manufacture of machinery and equipment n.e.c.379
- 29 Manufacture of motor vehicles, trailers and semi-trailers114
- 30 Manufacture of other transport equipment56
- 31 Manufacture of furniture278
- 32 Other manufacturing409
- 33 Repair, maintenance and installation of machinery and equipment654
- 35 Electricity, gas, steam and air conditioning supply276
- 36 Water collection, treatment and supply19
- 37 Sewerage67
- 38 Waste collection, recovery and disposal activities297
- 39 Remediation activities and other waste management service activities29
- 41 Construction of residential and non-residential buildings4,193
- 42 Civil engineering477
- 43 Specialised construction activities12,039
- 46 Wholesale trade8,104
- 47 Retail trade12,950
- 49 Land transport and transport via pipelines1,819
- 50 Water transport41
- 51 Air transport53
- 52 Warehousing, storage and support activities for transportation567
- 53 Postal and courier activities126
- 55 Accommodation1,322
- 56 Food and beverage service activities6,704
- 58 Publishing activities410
- 59 Motion picture, video and television programme production, sound recording and music publishing activities595
- 60 Programming, broadcasting, news agency and other content distribution activities69
- 61 Telecommunication130
- 62 Computer programming, consultancy and related activities5,398
- 63 Computing infrastructure, data processing, hosting and other information service activities468
- 64 Financial service activities, except insurance and pension funding3,810
- 65 Insurance, reinsurance and pension funding, except compulsory social security111
- 66 Activities auxiliary to financial services and insurance activities2,334
- 68 Real estate activities12,723
- 69 Legal and accounting activities5,344
- 70 Activities of head offices and management consultancy12,300
- 71 Architectural and engineering activities; technical testing and analysis3,981
- 72 Scientific research and development396
- 73 Activities of advertising, market research and public relations2,471
- 74 Other professional, scientific and technical activities1,209
- 75 Veterinary activities727
- 77 Rental and leasing activities793
- 78 Employment activities299
- 79 Travel agency, tour operator and other reservation service and related activities262
- 80 Investigation and security activities133
- 81 Services to buildings and landscape activities1,907
- 82 Office administrative, office support and other business support activities2,358
- 84 Public administration and defence; compulsory social security39
- 85 Education1,500
- 86 Human health activities14,912
- 87 Residential care activities736
- 88 Social work activities without accommodation561
- 90 Arts creation and performing arts activities659
- 91 Libraries, archives, museums and other cultural activities86
- 92 Gambling and betting activities46
- 93 Sports activities and amusement and recreation activities1,303
- 94 Activities of membership organisations326
- 95 Repair and maintenance of computers, personal and household goods, and motor vehicles and motorcycles1,290
- 96 Personal service activities1,967
Municipalities with the most companies in the sector · Wallonia
- 1410 Waterloo5
- 1300 Wavre (Limal)3
- 7700 Mouscron (Luingne)3
- 1400 Nivelles (Monstreux)2
- 4000 Liège (Glain, Rocourt)2
- 4801 Verviers (Stembert)2
- 7060 Soignies (Horrues)2
- 1325 Chaumont-Gistoux (Bonlez, Corroy-Le-Grand, Dion-Valmont, …)1
- 1350 Orp-Jauche (Enines, Folx-Les-Caves, Jandrain-Jandrenouille, …)1
- 1460 Ittre (Virginal-Samme)1
- 1495 Villers-la-Ville (Marbais, Mellery, Sart-Dames-Avelines, …)1
- 4252 Geer (Omal)1
Frequently asked questions
Which is the largest company in Manufacture of paper and paper products in Wallonia?
By total assets, it is Burgo Ardennes (€219.8m, financial year 2025).
How many companies in Manufacture of paper and paper products in Wallonia are ranked?
57 out of 60 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 14 Nov 2026.