Manufacture of paper and paperboard
90 Belgian companies whose main activity falls under NACE code 1712 have filed annual accounts. Their median solvency is 46.5% for financial year 2022.
Sector medians
Computed by IdonisDistribution across the sector's companies for financial year 2022: 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 | 18.4% | 46.5% | 72.0% | 83 |
| Current ratio | 1.02 | 1.65 | 3.25 | 82 |
| ROE | 0.2% | 7.2% | 19.0% | 77 |
| Equity | 163,489 € | €1.00m | €6.79m | 83 |
| Total assets | 445,842 € | €2.17m | €12.0m | 83 |
| Net result | −22,186 € | 32,889 € | 569,987 € | 83 |
| Headcount (avg FTE) | 6.0 | 20.0 | 66.0 | 58 |
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 paperboard
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 | Corex Holding 9300 Aalst | €284.1m | — | €279.4m | 2.1 | 2025 |
| 2 | Stora Enso Langerbrugge 9000 Ghent | €211.6m | €270.0m | €109.2m | 348.1 | 2025 |
| 3 | Golfkarton Soenen 8830 Hooglede | €181.5m | €105.9m | €50.9m | — | 2025 |
| 4 | VPK Paper 9200 Dendermonde | €162.1m | €222.8m | €99.1m | 292.2 | 2025 |
| 5 | Ippas Invest 3620 Lanaken | €148.1m | 61,350 € | €26.4m | — | 2025 |
| 6 | Ippas Industrial Acquisitions 3620 Lanaken | €122.8m | €1.80m | €117.4m | 1.1 | 2025 |
| 7 | VPK Packaging 9200 Dendermonde | €114.9m | €348.3m | €43.8m | 570.8 | 2025 |
| 8 | P. Van de Velde 9230 Wetteren | €100.8m | €31.4m | −€66.4m | 38.0 | 2025 |
| 9 | Essity PLD Belgium 4801 Verviers | €96.5m | €170.9m | €53.1m | 351.0 | 2025 |
| 10 | Smurfit Westrock Turnhout 2300 Turnhout | €82.0m | €119.7m | €53.3m | 330.7 | 2025 |
| 11 | Cartonnage Lammerant 7900 Leuze-en-Hainaut | €70.1m | €69.1m | €23.9m | 106.3 | 2025 |
| 12 | Mondi Poperinge 8970 Poperinge | €47.2m | €83.0m | €15.8m | 141.9 | 2025 |
| 13 | Avery Dennison Materials Belgium 7060 Soignies | €41.4m | €58.6m | €24.3m | — | 2025 |
| 14 | Pacapime 1500 Halle | €40.0m | €56.6m | €26.5m | 125.6 | 2025 |
| 15 | ACE Packaging 3290 Diest | €38.6m | €55.3m | €30.8m | 70.4 | 2025 |
| 16 | Sylvamo Europe 1170 Watermael-Boitsfort | €33.8m | €22.6m | €28.7m | 10.4 | 2025 |
| 17 | Chiyoda Europa 3600 Genk | €27.9m | €29.9m | €11.9m | 136.3 | 2025 |
| 18 | Ahlstrom Malmedy S.A. 4960 Malmedy | €23.9m | €41.5m | €6.52m | 111.5 | 2025 |
| 19 | Semoulin Packaging 7350 Hensies | €17.7m | €22.7m | €14.0m | 84.0 | 2025 |
| 20 | Nutripack Wavre 1300 Wavre | €16.3m | — | €4.34m | 6.6 | 2025 |
“—”: not published. Small companies (micro and abridged accounts) do not have to publish their revenue.
See all 90 companies, full list →
Where are they based?
Municipalities with the most
Related sectors
← The whole Manufacture of paper and paper products sector (NACE 17)
Frequently asked questions
How many Manufacture of paper and paperboard companies are there in Belgium?
90 Belgian companies whose main activity falls under NACE code 1712 (Manufacture of paper and paperboard) have filed annual accounts with the National Bank.
What is the median solvency in Manufacture of paper and paperboard?
For financial year 2022, median solvency (equity over total assets) is 46.5%. The middle half of companies lies between 18.4% and 72.0% (83 companies).
What is the largest company in Manufacture of paper and paperboard?
By total assets, it is Corex Holding (€284.1m, financial year 2025).
Where are Manufacture of paper and paperboard companies based?
The municipalities with the most: Brasschaat (3), Brussels (2), Etterbeek (2).
Analyse companies in Manufacture of paper and paperboard
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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 12 Nov 2026.