Manufacture of paper and paperboard: highest published revenue
27 Belgian companies in the sector (NACE 1712) publish their revenue in recent accounts; here are the top 20. VPK Packaging leads with €348.3m (financial year 2025).
Top 20
Ranked by revenue published in the latest filed accounts (accounts less than 3 years old).
| # | Company | Total assets | Revenue | Equity | FTE | Year |
|---|---|---|---|---|---|---|
| 1 | VPK Packaging 9200 Dendermonde | €114.9m | €348.3m | €43.8m | 570.8 | 2025 |
| 2 | Stora Enso Langerbrugge 9000 Ghent | €211.6m | €270.0m | €109.2m | 348.1 | 2025 |
| 3 | VPK Paper 9200 Dendermonde | €162.1m | €222.8m | €99.1m | 292.2 | 2025 |
| 4 | Essity PLD Belgium 4801 Verviers | €96.5m | €170.9m | €53.1m | 351.0 | 2025 |
| 5 | Smurfit Westrock Turnhout 2300 Turnhout | €82.0m | €119.7m | €53.3m | 330.7 | 2025 |
| 6 | Golfkarton Soenen 8830 Hooglede | €181.5m | €105.9m | €50.9m | — | 2025 |
| 7 | Mondi Poperinge 8970 Poperinge | €47.2m | €83.0m | €15.8m | 141.9 | 2025 |
| 8 | Cartonnage Lammerant 7900 Leuze-en-Hainaut | €70.1m | €69.1m | €23.9m | 106.3 | 2025 |
| 9 | Avery Dennison Materials Belgium 7060 Soignies | €41.4m | €58.6m | €24.3m | — | 2025 |
| 10 | Pacapime 1500 Halle | €40.0m | €56.6m | €26.5m | 125.6 | 2025 |
| 11 | ACE Packaging 3290 Diest | €38.6m | €55.3m | €30.8m | 70.4 | 2025 |
| 12 | Ahlstrom Malmedy S.A. 4960 Malmedy | €23.9m | €41.5m | €6.52m | 111.5 | 2025 |
| 13 | P. Van de Velde 9230 Wetteren | €100.8m | €31.4m | −€66.4m | 38.0 | 2025 |
| 14 | Chiyoda Europa 3600 Genk | €27.9m | €29.9m | €11.9m | 136.3 | 2025 |
| 15 | Semoulin Packaging 7350 Hensies | €17.7m | €22.7m | €14.0m | 84.0 | 2025 |
| 16 | Sylvamo Europe 1170 Watermael-Boitsfort | €33.8m | €22.6m | €28.7m | 10.4 | 2025 |
| 17 | COREX Belgium 8540 Deerlijk | €8.26m | €17.6m | €3.73m | 54.1 | 2025 |
| 18 | Lumipaper 9130 Beveren-Kruibeke-Zwijndrecht | €13.0m | €17.4m | €9.16m | 96.5 | 2025 |
| 19 | Servibox 1742 Ternat | €7.65m | €16.8m | €4.12m | 34.0 | 2025 |
| 20 | Mavane 1410 Waterloo | €9.37m | €13.6m | €1.68m | 3.8 | 2025 |
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.
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Frequently asked questions
Which company in Manufacture of paper and paperboard has the highest revenue?
VPK Packaging, with €348.3m in revenue (financial year 2025).
How many Manufacture of paper and paperboard companies publish their revenue?
27 out of 90, in accounts less than 3 years old. Small companies (micro and abridged accounts) are not required to publish it.
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 14 Nov 2026.