Manufacture of industrial gases
37 Belgian companies whose main activity falls under NACE code 2011 have filed annual accounts. Their median solvency is 41.6% for financial year 2024.
Sector medians
Computed by IdonisDistribution across the sector's companies for financial year 2024: 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 | 17.3% | 41.6% | 68.0% | 35 |
| Current ratio | 0.87 | 1.29 | 2.03 | 35 |
| ROE | 0.7% | 5.2% | 10.5% | 31 |
| Equity | 318,969 € | €2.34m | €45.5m | 35 |
| Total assets | €2.04m | €13.3m | €74.4m | 35 |
| Net result | −12,505 € | 288,762 € | €5.20m | 35 |
| Headcount (avg FTE) | 12.0 | 39.8 | 226.4 | 27 |
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 industrial gases
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 | Air Products 1831 Machelen (Brab.) | €704.4m | €220.8m | €631.3m | 258.3 | 2025 |
| 2 | Air Liquide Industries Belgium 1932 Zaventem | €475.8m | €573.8m | €265.2m | 269.4 | 2025 |
| 3 | INOVYN Manufacturing Belgium 5190 Jemeppe-sur-Sambre | €460.1m | €396.8m | €97.2m | 657.0 | 2025 |
| 4 | DOW Silicones Belgium 7180 Seneffe | €345.8m | €131.8m | €129.3m | 440.2 | 2025 |
| 5 | Nippon Sanso Belgium 2250 Olen | €238.1m | €174.1m | €183.4m | 279.3 | 2026 |
| 6 | Air Liquide Large Industry 1932 Zaventem | €164.3m | €283.6m | €125.7m | 54.9 | 2025 |
| 7 | TotalEnergies Petrochemicals Feluy 7181 Seneffe | €160.5m | €74.0m | €98.2m | 385.7 | 2025 |
| 8 | Nouryon Chemicals 7011 Mons | €93.2m | €65.7m | €66.9m | 191.3 | 2025 |
| 9 | L'Air liquide Belge 1932 Zaventem | €86.7m | €126.7m | €43.8m | 304.7 | 2025 |
| 10 | Messer Belgium 2070 Beveren-Kruibeke-Zwijndrecht | €68.6m | €55.3m | €54.8m | 93.1 | 2025 |
| 11 | Balchem 1850 Grimbergen | €34.6m | €32.4m | €10.6m | 36.7 | 2025 |
| 12 | Sensient Flavors Belgium 3001 Leuven | €23.0m | €23.6m | €20.5m | 48.9 | 2025 |
| 13 | Messer Air Gases Belgium 2070 Beveren-Kruibeke-Zwijndrecht | €18.3m | — | −€1.33m | — | 2025 |
| 14 | Vital Materials Belgium 1495 Villers-la-Ville | €16.6m | €27.1m | €3.04m | 46.4 | 2024 |
| 15 | Sol B 7860 Lessines | €13.4m | €12.9m | €8.47m | 24.3 | 2025 |
| 16 | Greenco2 2070 Beveren-Kruibeke-Zwijndrecht | €12.9m | €6.43m | 61,500 € | — | 2025 |
| 17 | Volcke Aerosol Belgium 8520 Kuurne | €11.8m | €22.7m | €6.66m | 46.5 | 2026 |
| 18 | Galco 1090 Jette | €10.3m | €17.8m | €2.55m | 9.6 | 2025 |
| 19 | bECO2 2070 Beveren-Kruibeke-Zwijndrecht | €9.16m | €2.75m | 49,660 € | 2.8 | 2025 |
| 20 | Serpo 9100 Sint-Niklaas | €8.85m | €6.38m | €7.00m | 15.4 | 2025 |
“—”: not published. Small companies (micro and abridged accounts) do not have to publish their revenue.
See all 37 companies, full list →
Where are they based?
Municipalities with the most
- 2070 Beveren-Kruibeke-Zwijndrecht (Burcht, Zwijndrecht)4
- 1932 Zaventem (Sint-Stevens-Woluwe)3
- 1090 Jette2
- 1400 Nivelles (Monstreux)1
- 1495 Villers-la-Ville (Marbais, Mellery, Sart-Dames-Avelines, …)1
- 1830 Machelen (Brab.) (Machelen)1
- 1831 Machelen (Brab.) (Diegem)1
- 1850 Grimbergen1
- 2250 Olen1
- 2460 Kasterlee (Lichtaart, Tielen)1
- 3001 Leuven (Heverlee)1
- 3930 Hamont-Achel (Achel, Hamont)1
Related sectors
← The whole Manufacture of chemicals and chemical products sector (NACE 20)
- 2059 Manufacture of other chemical products n.e.c.147
- 2042 Manufacture of perfume and toilet preparations135
- 2041 Manufacture of soap and detergents, cleaning and polishing preparations109
- 2016 Manufacture of plastics in primary forms103
- 2030 Manufacture of paints, varnishes and similar coatings, printing ink and mastics101
- 2014 Manufacture of other organic basic chemicals83
- 2015 Manufacture of fertilisers and nitrogen compounds56
- 2013 Manufacture of other inorganic basic chemicals53
- 2020 Manufacture of pesticides, disinfectants and other agrochemical products24
- 2060 Manufacture of man-made fibres23
- 2012 Manufacture of dyes and pigments11
Frequently asked questions
How many Manufacture of industrial gases companies are there in Belgium?
37 Belgian companies whose main activity falls under NACE code 2011 (Manufacture of industrial gases) have filed annual accounts with the National Bank.
What is the median solvency in Manufacture of industrial gases?
For financial year 2024, median solvency (equity over total assets) is 41.6%. The middle half of companies lies between 17.3% and 68.0% (35 companies).
What is the largest company in Manufacture of industrial gases?
By total assets, it is Air Products (€704.4m, financial year 2025).
Where are Manufacture of industrial gases companies based?
The municipalities with the most: Beveren-Kruibeke-Zwijndrecht (4), Zaventem (3), Jette (2).
Analyse companies in Manufacture of industrial gases
Filter these companies by size, soundness and trend, follow them and get an alert when their accounts or publications change.
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.