Waste collection, recovery and disposal activities
1,052 Belgian companies whose main activity falls under NACE code 38 have filed annual accounts. Their median solvency is 39.9% 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 | 18.2% | 39.9% | 64.2% | 963 |
| Current ratio | 0.82 | 1.32 | 2.21 | 946 |
| ROE | 0.1% | 9.4% | 24.5% | 851 |
| Equity | 68,871 € | 477,878 € | €2.18m | 968 |
| Total assets | 385,081 € | €1.69m | €6.04m | 967 |
| Net result | −7,372 € | 28,979 € | 207,743 € | 967 |
| Headcount (avg FTE) | 2.6 | 7.6 | 24.6 | 595 |
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: Waste collection, recovery and disposal activities
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 | Hedera 1000 Brussels | €16.1bn | — | — | 2.0 | 2025 |
| 2 | Organisme national des déchets radioactifs et des matières fissiles enrichies 1000 Brussels | €1.78bn | €315.6m | €185.4m | 190.6 | 2025 |
| 3 | Indaver 9130 Beveren-Kruibeke-Zwijndrecht | €751.0m | €330.6m | €372.8m | 579.7 | 2025 |
| 4 | Veolia Environmental Services Belux 1060 Saint-Gilles | €520.3m | €130.1m | €397.2m | 626.7 | 2025 |
| 5 | SPAQuE 4000 Liège | €479.8m | €10.6m | €55.9m | 84.4 | 2025 |
| 6 | Intercommunale de Gestion de l'Environnement 7503 Tournai | €379.7m | €83.0m | €185.4m | 406.3 | 2025 |
| 7 | Renewi 3920 Lommel | €365.0m | €409.1m | €133.2m | 1,525.5 | 2026 |
| 8 | Galloo 8930 Menen | €354.9m | €513.9m | €183.4m | 276.8 | 2025 |
| 9 | Centre de TRI - Trieercentrum 1150 Woluwe-Saint-Pierre | €295.0m | €23.1m | €287.0m | 11.5 | 2025 |
| 10 | DEME Environmental 2070 Beveren-Kruibeke-Zwijndrecht | €272.5m | €165.8m | €128.6m | 264.8 | 2025 |
| 11 | Association Intercommunale de Traitement des Dechets Liegeois 4040 Herstal | €187.4m | €125.1m | €35.5m | 321.0 | 2025 |
| 12 | TIBI 6010 Charleroi | €151.0m | €25.4m | €26.8m | 684.9 | 2025 |
| 13 | PSR 9308 Aalst | €142.1m | €2.21m | €33.6m | 3.5 | 2025 |
| 14 | Bebat 3300 Tienen | €137.0m | €42.0m | €40.2m | 36.8 | 2025 |
| 15 | Quatra 9160 Lokeren | €131.0m | €296.7m | €37.1m | 35.9 | 2025 |
| 16 | Indaver Plastics Recycling 2830 Willebroek | €116.9m | €33.2m | €91.1m | 106.4 | 2025 |
| 17 | Veolia Environmental Services BE 1060 Saint-Gilles | €113.6m | €260.8m | €46.1m | 525.3 | 2025 |
| 18 | Biostoom Beringen 3500 Hasselt | €112.1m | €42.7m | €38.1m | 25.0 | 2025 |
| 19 | Mineralz ES Treatment 3920 Lommel | €107.2m | €6.01m | €32.3m | 7.3 | 2026 |
| 20 | Belgonucleaire 1000 Brussels | €106.3m | — | €25.5m | — | 2025 |
“—”: not published. Small companies (micro and abridged accounts) do not have to publish their revenue.
Where are they based?
Municipalities with the most
- 2030 Antwerp18
- 3600 Genk15
- 6200 Châtelet (Bouffioulx, Châtelineau)13
- 1000 Brussels12
- 8400 Ostend (Stene, Zandvoorde)12
- 4040 Herstal11
- 3500 Hasselt (Sint-Lambrechts-Herk)10
- 3530 Houthalen-Helchteren (Helchteren, Houthalen)10
- 3920 Lommel10
- 8800 Roeselare (Beveren, Oekene, Rumbeke)10
- 9000 Ghent10
- 9130 Beveren-Kruibeke-Zwijndrecht (Doel, Kallo, Kieldrecht, …)10
Waste collection, recovery and disposal activities: 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 | Revenue | Employers |
| Antwerp province | Largest | Revenue | Employers |
| Flemish Brabant | Largest | Revenue | Employers |
| Limburg | Largest | Revenue | Employers |
| East Flanders | Largest | Revenue | Employers |
| West Flanders | Largest | Revenue | Employers |
| Walloon Brabant | Largest | — | Employers |
| Hainaut | Largest | Revenue | Employers |
| Liège province | Largest | Revenue | Employers |
| Luxembourg province | Largest | — | Employers |
| Namur province | Largest | — | Employers |
Sub-sectors
Frequently asked questions
How many Waste collection, recovery and disposal activities companies are there in Belgium?
1,052 Belgian companies whose main activity falls under NACE code 38 (Waste collection, recovery and disposal activities) have filed annual accounts with the National Bank.
What is the median solvency in Waste collection, recovery and disposal activities?
For financial year 2024, median solvency (equity over total assets) is 39.9%. The middle half of companies lies between 18.2% and 64.2% (963 companies).
What is the largest company in Waste collection, recovery and disposal activities?
By total assets, it is Hedera (€16.1bn, financial year 2025).
Where are Waste collection, recovery and disposal activities companies based?
The municipalities with the most: Antwerp (18), Genk (15), Châtelet (13).
Analyse companies in Waste collection, recovery and disposal activities
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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.