Manufacture of paper and paper products
287 Belgian companies whose main activity falls under NACE code 17 have filed annual accounts. Their median solvency is 46.3% for financial year 2023.
Sector medians
Computed by IdonisDistribution across the sector's companies for financial year 2023: a quarter of companies sit below the 1st quartile, half below the median, three quarters below the 3rd quartile.
| Indicator | 1st quartile | Median | 3rd quartile | Companies |
|---|---|---|---|---|
| Solvency | 22.6% | 46.3% | 66.4% | 270 |
| Current ratio | 1.04 | 1.56 | 2.60 | 265 |
| ROE | 0.6% | 11.3% | 25.6% | 250 |
| Equity | 121,998 € | €1.05m | €3.75m | 271 |
| Total assets | 403,930 € | €2.50m | €8.70m | 271 |
| Net result | −683 € | 53,443 € | 414,638 € | 270 |
| Headcount (avg FTE) | 4.3 | 16.5 | 46.5 | 207 |
Medians computed by Idonis from annual accounts filed with the National Bank, all sizes combined. The same panel is the sector benchmark on every company page. Method
Largest companies: Manufacture of paper and paper products
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 | Etablissements L. Lacroix Fils 2610 Antwerp | €2.71bn | €439.6m | €2.48bn | 190.2 | 2025 |
| 2 | Ontex 9255 Buggenhout | €1.14bn | €1.51bn | €360.1m | 578.9 | 2025 |
| 3 | VPK Group 9200 Dendermonde | €956.3m | — | €719.4m | 76.0 | 2025 |
| 4 | Accent 8560 Wevelgem | €416.2m | €35.3m | €199.1m | 81.1 | 2025 |
| 5 | Corex Holding 9300 Aalst | €284.1m | — | €279.4m | 2.1 | 2025 |
| 6 | Burgo Ardennes 6762 Virton | €219.8m | €379.1m | €87.1m | 591.5 | 2025 |
| 7 | Label printing Europe 8560 Wevelgem | €213.7m | €1.42m | €213.0m | 12.0 | 2025 |
| 8 | Stora Enso Langerbrugge 9000 Ghent | €211.6m | €270.0m | €109.2m | 348.1 | 2025 |
| 9 | Golfkarton Soenen 8830 Hooglede | €181.5m | €105.9m | €50.9m | — | 2025 |
| 10 | VPK Paper 9200 Dendermonde | €162.1m | €222.8m | €99.1m | 292.2 | 2025 |
| 11 | Ippas Invest 3620 Lanaken | €148.1m | 61,350 € | €26.4m | — | 2025 |
| 12 | Smurfit Westrock Cartomills 7011 Mons | €141.8m | €98.3m | €96.6m | 306.3 | 2025 |
| 13 | Avery Dennison Belgie 2300 Turnhout | €140.4m | €150.7m | €42.4m | 382.6 | 2025 |
| 14 | Ippas Industrial Acquisitions 3620 Lanaken | €122.8m | €1.80m | €117.4m | 1.1 | 2025 |
| 15 | VPK Packaging 9200 Dendermonde | €114.9m | €348.3m | €43.8m | 570.8 | 2025 |
| 16 | W.H. Brady 9240 Zele | €108.9m | €103.0m | €43.8m | 270.6 | 2025 |
| 17 | Essity Belgium 1831 Machelen (Brab.) | €108.3m | €151.4m | €20.6m | 87.0 | 2025 |
| 18 | P. Van de Velde 9230 Wetteren | €100.8m | €31.4m | −€66.4m | 38.0 | 2025 |
| 19 | Essity PLD Belgium 4801 Verviers | €96.5m | €170.9m | €53.1m | 351.0 | 2025 |
| 20 | Kimberly - Clark 1831 Machelen (Brab.) | €84.4m | €37.9m | €70.8m | 21.2 | 2025 |
“—”: not published. Small companies (micro and abridged accounts) do not have to publish their revenue.
Where are they based?
Municipalities with the most
Manufacture of paper and paper products: rankings by region and province
The largest companies in the sector in each region and province, by municipality of the registered office. A ranking is published once 10 companies in the sector publish the figure there.
| Area | Total assets | Revenue | Headcount |
|---|---|---|---|
| Flanders | Largest | Revenue | Employers |
| Wallonia | Largest | Revenue | Employers |
| Brussels | Largest | — | Employers |
| Antwerp province | Largest | Revenue | Employers |
| Flemish Brabant | Largest | — | Employers |
| Limburg | Largest | — | Employers |
| East Flanders | Largest | Revenue | Employers |
| West Flanders | Largest | Revenue | Employers |
| Walloon Brabant | Largest | — | — |
| Hainaut | Largest | — | Employers |
| Liège province | Largest | — | Employers |
Sub-sectors
- 1721 Manufacture of corrugated paper, paperboard and containers of paper and paperboard109
- 1712 Manufacture of paper and paperboard90
- 1725 Manufacture of other articles of paper and paperboard46
- 1723 Manufacture of paper stationery17
- 1722 Manufacture of household and sanitary goods and of toilet requisites15
Frequently asked questions
How many Manufacture of paper and paper products companies are there in Belgium?
287 Belgian companies whose main activity falls under NACE code 17 (Manufacture of paper and paper products) have filed annual accounts with the National Bank.
What is the median solvency in Manufacture of paper and paper products?
For financial year 2023, median solvency (equity over total assets) is 46.3%. The middle half of companies lies between 22.6% and 66.4% (270 companies).
What is the largest company in Manufacture of paper and paper products?
By total assets, it is Etablissements L. Lacroix Fils (€2.71bn, financial year 2025).
Where are Manufacture of paper and paper products companies based?
The municipalities with the most: Turnhout (6), Ixelles (5), Anderlecht (5).
Analyse companies in Manufacture of paper and paper products
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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 13 Nov 2026.