Sector · NACE 72

Scientific research and development

1,209 Belgian companies whose main activity falls under NACE code 72 have filed annual accounts. Their median solvency is 59.9% for financial year 2024.

Companies1,209
Median solvency59.9%
Median equity223,101 €
Median headcount (FTE)5.3
Founded in the last 3 years110

Sector medians

Computed by Idonis

Distribution 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.

Indicator1st quartileMedian3rd quartileCompanies
Solvency 22.6%59.9%83.2% 1,071
Current ratio 1.012.105.25 1,055
ROE -1.9%13.5%35.6% 936
Equity 37,113 €223,101 €809,159 € 1,084
Total assets 143,262 €503,526 €€1.67m 1,085
Net result −13,923 €26,024 €98,475 € 1,082
Headcount (avg FTE) 1.35.315.6 406

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: Scientific research and development

Ranked by total assets in the latest filed accounts. This is a size criterion, not an assessment.

#Company Total assetsRevenue EquityFTEYear
1 argenx 9052 Ghent €7.01bn €3.80bn €5.71bn 510.9 2025
2 Lakefront Biotherapeutics 2800 Mechelen €3.34bn €1.10bn €3.15bn 172.9 2025
3 Interuniversitair Micro-Electronica Centrum 3001 Leuven €1.27bn €804.3m €512.1m 2,904.3 2025
4 UCB Developed Brands 1070 Anderlecht €1.07bn €1.24bn €867.8m 20.7 2025
5 United Beet Seeds 3300 Tienen €677.2m — €659.4m — 2025
6 Fonds DE LA Recherche Scientifique-Fnrs 1000 Brussels €446.5m — €134.8m 2,180.8 2025
7 Ablynx 9052 Ghent €417.3m €147.9m €359.2m 363.5 2025
8 Studiecentrum voor Kernenergie - Centre d'Etude de l'Energie Nucléaire 1160 Auderghem €405.0m €99.3m €52.7m 883.6 2025
9 Vlaams Instituut Voor Biotechnologie - Flanders Institute FOR Biotechnology 9052 Ghent €323.7m €52.6m €172.4m 928.4 2025
10 Fonds voor wetenschappelijk Onderzoek - Vlaanderen 1000 Brussels €260.3m — €183.9m 2,772.6 2025
11 Vlaamse Instelling Voor Technologisch Onderzoek 2400 Mol €256.2m €88.2m €88.8m 969.8 2025
12 Omega Pharma Innovation & Development 9050 Ghent €246.6m €16.3m €240.2m 38.2 2025
13 Flanders Make 3920 Lommel €234.7m €32.3m €26.0m 218.6 2025
14 Basf Belgium Coordination Center 2040 Antwerp €215.4m €627.4m €105.9m 555.7 2025
15 MDxHealth 4040 Herstal €159.3m €4.16m €134.0m — 2025
16 Legend Biotech Belgium 9052 Ghent €142.4m €285.9m €62.9m 846.9 2025
17 Europese Organisatie Voor Onderzoek EN Behandeling VAN Kanker - Organisation Europeenne Pour LA Recherche ET LE Traitement DU Cancer - European Organi 1200 Woluwe-Saint-Lambert €135.2m €52.3m €90.4m 220.3 2025
18 Devgen 9052 Ghent €130.9m €1.13m €128.3m 2.9 2025
19 TotalEnergies OneTech Belgium 7181 Seneffe €116.7m €96.0m €79.8m 297.7 2025
20 Ncardia Holding 1435 Mont-Saint-Guibert €108.4m — €98.8m — 2025

“—”: not published. Small companies (micro and abridged accounts) do not have to publish their revenue.

Where are they based?

  • Brussels-Capital186
  • East Flanders169
  • Antwerp158
  • Flemish Brabant148
  • Liège138
  • Walloon Brabant103
  • Hainaut93
  • West Flanders77
  • Limburg61
  • Namur56
  • Luxembourg19

Municipalities with the most

Sub-sectors

Frequently asked questions

How many Scientific research and development companies are there in Belgium?

1,209 Belgian companies whose main activity falls under NACE code 72 (Scientific research and development) have filed annual accounts with the National Bank.

What is the median solvency in Scientific research and development?

For financial year 2024, median solvency (equity over total assets) is 59.9%. The middle half of companies lies between 22.6% and 83.2% (1,071 companies).

What is the largest company in Scientific research and development?

By total assets, it is argenx (€7.01bn, financial year 2025).

Where are Scientific research and development companies based?

The municipalities with the most: Liège (38), Brussels (36), Charleroi (33).

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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 10 Oct 2026.