Construction of railways and underground railways
60 Belgian companies whose main activity falls under NACE code 4212 have filed annual accounts. Their median solvency is 48.5% for financial year 2025.
Sector medians
Computed by IdonisDistribution across the sector's companies for financial year 2025: 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 | 27.6% | 48.5% | 70.0% | 53 |
| Current ratio | 1.11 | 1.61 | 3.23 | 53 |
| ROE | 2.8% | 18.6% | 39.7% | 52 |
| Equity | 37,280 € | 106,245 € | €1.08m | 53 |
| Total assets | 76,432 € | 384,541 € | €2.58m | 53 |
| Net result | 7,256 € | 24,836 € | 97,917 € | 53 |
| Headcount (avg FTE) | 1.5 | 4.1 | 17.5 | 21 |
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: Construction of railways and underground railways
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 | Project Brabo 1 2018 Antwerp | €161.3m | €18.0m | €4.63m | — | 2025 |
| 2 | Strukton Rail 9820 Merelbeke-Melle | €57.9m | €57.3m | €14.0m | 132.4 | 2025 |
| 3 | Taveirne Algemene Ondernemingen 8820 Torhout | €25.9m | €25.9m | €16.0m | 94.1 | 2025 |
| 4 | Vanormelingen - Stas 2220 Heist-op-den-Berg | €16.6m | €19.0m | €6.24m | 22.8 | 2025 |
| 5 | Algemene Ondernemingen E. de Vuyst 9620 Zottegem | €9.21m | €14.4m | €8.31m | 30.2 | 2025 |
| 6 | Ardenne Rails 4821 Dison | €7.85m | — | €3.39m | 12.0 | 2025 |
| 7 | UNI-Rail 7170 Manage | €6.89m | — | €1.23m | 17.5 | 2025 |
| 8 | Sateba Prefarails 7060 Soignies | €6.61m | €6.14m | €5.69m | 36.4 | 2025 |
| 9 | Grondwerken Hendrickx 1670 Pepingen | €4.02m | — | 369,497 € | 2.0 | 2025 |
| 10 | De Coppel Rik 9400 Ninove | €4.00m | — | €1.90m | — | 2025 |
| 11 | Swejo 3870 Heers | €3.97m | — | €1.96m | 4.1 | 2025 |
| 12 | Leus Invest 9160 Lokeren | €2.68m | — | 317,901 € | — | 2025 |
| 13 | INCE 9000 Ghent | €2.58m | — | 941,736 € | — | 2025 |
| 14 | Bedagro 1540 Pajottegem | €2.31m | — | €1.37m | — | 2025 |
| 15 | Mirmil 9400 Ninove | €1.71m | — | €1.08m | 11.9 | 2025 |
| 16 | Railconstruct 6150 Anderlues | €1.50m | — | €1.36m | 12.2 | 2025 |
| 17 | Sustainable Railway 4821 Dison | €1.39m | — | −366,171 € | 2.7 | 2025 |
| 18 | Genius del Nolo 8400 Ostend | €1.08m | — | 931,006 € | — | 2023 |
| 19 | Dmrail 4650 Herve | 951,590 € | — | 413,115 € | 3.3 | 2025 |
| 20 | H-Rail 1400 Nivelles | 829,619 € | — | 580,445 € | — | 2025 |
“—”: not published. Small companies (micro and abridged accounts) do not have to publish their revenue.
See all 60 companies, full list →
Where are they based?
Municipalities with the most
- 9220 Hamme (Vl.) (Hamme, Moerzeke)6
- 9500 Geraardsbergen (Goeferdinge, Moerbeke, Nederboelare, …)4
- 1670 Pepingen (Bogaarden, Heikruis)3
- 9160 Lokeren (Daknam, Eksaarde)3
- 4821 Dison (Andrimont)2
- 8800 Roeselare (Beveren, Oekene, Rumbeke)2
- 9000 Ghent2
- 9400 Ninove (Appelterre-Eichem, Denderwindeke, Lieferinge, …)2
- 9660 Brakel (Elst, Everbeek, Michelbeke, …)2
- 1060 Saint-Gilles1
- 1400 Nivelles (Monstreux)1
- 1540 Pajottegem (Herfelingen, Herne)1
Related sectors
← The whole Civil engineering sector (NACE 42)
- 4211 Construction of roads and motorways1,161
- 4222 Construction of utility projects for electricity and telecommunications928
- 4299 Construction of other civil engineering projects n.e.c.468
- 4221 Construction of utility projects for fluids444
- 4291 Construction of water projects143
- 4213 Construction of bridges and tunnels60
Frequently asked questions
How many Construction of railways and underground railways companies are there in Belgium?
60 Belgian companies whose main activity falls under NACE code 4212 (Construction of railways and underground railways) have filed annual accounts with the National Bank.
What is the median solvency in Construction of railways and underground railways?
For financial year 2025, median solvency (equity over total assets) is 48.5%. The middle half of companies lies between 27.6% and 70.0% (53 companies).
What is the largest company in Construction of railways and underground railways?
By total assets, it is Project Brabo 1 (€161.3m, financial year 2025).
Where are Construction of railways and underground railways companies based?
The municipalities with the most: Hamme (Vl.) (6), Geraardsbergen (4), Pepingen (3).
Analyse companies in Construction of railways and underground railways
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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.