Best Belgian Stocks: September 2026
Quality 84: ROIC in the top 5% of its sector and low debt. Value 75: cheap on EV/EBITDA and cheap on P/E. Momentum 70: near its 52-week high and quarterly earnings growing.
September 2026 edition · data as of ·Next edition forms ·How we score stocks·All Belgium stocks, refreshed daily
Top 25 Belgian Stocks by StockRank
| # | Stock | Yield | P/E | Score | Q | V | M | Style · Activity | |
|---|---|---|---|---|---|---|---|---|---|
| 1 | MOUR.BR Moury Construct SA BE · Industrials · $322.1M Quality 84: ROIC in the top 5% of its sector and low debt. Value 75: cheap on EV/EBITDA and cheap on P/E. Momentum 70: near its 52-week high and quarterly earnings growing. | Yield 2.0% | P/E 8.1 | 100 Score | 84 Q | 75 V | 70 M | Full HouseDeep dive → | |
| 2 | DECB.BR Deceuninck NV BE · Industrials · $389.7M Value 81: cheap on EV/EBITDA and cheap on sales. Momentum 79: near its 52-week high and estimates revised up. Quality 63: high gross profitability and F-Score 7/9. | Yield 3.6% | P/E 9.9 | 99 Score | 63 Q | 81 V | 79 M | Full House | |
| 3 | SIP.BR Sipef NV BE · Consumer Defensive · $1.3B Quality 72: wide operating margins and low debt. Momentum 72: near its 52-week high and estimates revised up. Value 68: cheap on EV/EBITDA and cheap on P/E. | Yield 4.0% | P/E 10.2 | 98 Score | 72 Q | 68 V | 72 M | Full HouseDeep dive → | |
| 4 | VAN.BR Van de Velde NV BE · Consumer Cyclical · $424M Quality 85: high gross profitability and ROIC in the top 10% of its sector. Momentum 68: estimates revised up and near its 52-week high. Value 51: a high yield but expensive on sales. | Yield 8.1% | P/E 20.3 | 96 Score | 85 Q | 51 V | 68 M | Full HouseDir. buyBuyback | |
| 5 | TITC.BR Titan S.A. BE · Basic Materials · $4.2B Momentum 69: quarterly earnings growing and near its 52-week high. Quality 69: high return on equity and strong free cash flow. Value 65: cheap on P/E. | Yield 2.2% | P/E 11.3 | 96 Score | 69 Q | 65 V | 69 M | Full HouseBuyback | |
| 6 | CAMB.BR Campine NV BE · Industrials · $316.8M Quality 84: ROIC in the top 5% of its sector and high return on equity. Value 78: cheap on P/E and cheap on EV/EBITDA. Momentum 39: quarterly earnings shrinking. | Yield 5.4% | P/E 5.4 | 95 Score | 84 Q | 78 V | 39 M | Unloved Quality | |
| 7 | UMI.BR Umicore SA BE · Industrials · $5.8B Value 72: cheap on sales and cheap on EV/EBITDA. Momentum 64: estimates revised up and outperforming the market over 6 months. Quality 59: F-Score 9/9 but high debt. | Yield 2.3% | P/E 10.8 | 93 Score | 59 Q | 72 V | 64 M | Full HouseDir. buy | |
| 8 | MTLS.BR Materialise NV BE · Technology · $446.9M Momentum 89: quarterly earnings growing and near its 52-week high. Value 55: below book value. Quality 50: high gross profitability but thin operating margins. | Yield — | P/E 29.3 | 93 Score | 50 Q | 55 V | 89 M | Full House | |
| 9 | CFEB.BR Compagnie d'Entreprises CFE SA BE · Industrials · $295.2M Value 87: cheap on free cash flow and cheap on P/E. Quality 62: strong free cash flow and high gross profitability. Momentum 43: quarterly earnings growing but estimates cut. | Yield 4.7% | P/E 6.6 | 92 Score | 62 Q | 87 V | 43 M | Unloved Quality | |
| 10 | ASCE.BR Ascencio SA BE · Real Estate · $415.3M Quality 64: F-Score 8/9 and wide operating margins. Momentum 64: near its 52-week high and estimates revised up. Value 62: a high yield and cheap on free cash flow. | Yield 8.5% | P/E 9.5 | 91 Score | 64 Q | 62 V | 64 M | Full House | |
| 11 | RET.BR Retail Estates N.V. BE · Real Estate · $1.1B Momentum 64: near its 52-week high and estimates revised up. Value 62: a high yield and cheap on P/E. Quality 60: wide operating margins and strong free cash flow. | Yield 8.0% | P/E 7.9 | 89 Score | 60 Q | 62 V | 64 M | Full HouseDir. buy | |
| 12 | COLR.BR Colruyt Group N.V. BE · Consumer Defensive · $5.2B Momentum 67: near its 52-week high and above its moving averages. Value 64: cheap on EV/EBITDA and cheap on sales. Quality 55: high gross profitability but a tight balance sheet. | Yield 3.6% | P/E 13.7 | 88 Score | 55 Q | 64 V | 67 M | Full House | |
| 13 | ECONB.BR Econocom Group SE BE · Technology · $254.8M Value 94: cheap on sales and cheap on free cash flow. Momentum 47: quarterly earnings growing but estimates cut. Quality 43: strong free cash flow but high debt. | Yield 3.4% | P/E 5.4 | 88 Score | 43 Q | 94 V | 47 M | Bargain Bin | |
| 14 | EVS.BR EVS SA BE · Technology · $412.7M Value 81: cheap on P/E and cheap on EV/EBITDA. Quality 70: high gross profitability and ROIC in the top 20% of its sector. Momentum 32: estimates cut. | Yield 4.3% | P/E 9.3 | 86 Score | 70 Q | 81 V | 32 M | Unloved QualityDeep dive → | |
| 15 | BEKB.BR NV Bekaert SA BE · Industrials · $2.1B Value 77: a high yield and cheap on free cash flow. Momentum 59: EPS improving but estimates cut. Quality 46: strong free cash flow but low return on equity. | Yield 5.1% | P/E 22.6 | 86 Score | 46 Q | 77 V | 59 M | Second WindDir. buyBuyback | |
| 16 | JEN.BR Jensen-Group NV BE · Industrials · $817M Quality 78: high gross profitability and F-Score 8/9. Value 55: cheap on P/E. Momentum 48: above its moving averages but estimates cut. | Yield 2.0% | P/E 12.6 | 86 Score | 78 Q | 55 V | 48 M | Unloved QualityDir. buyBuyback | |
| 17 | VIO.BR Viohalco S.A. BE · Industrials · $4.9B Momentum 70: outperforming the market over 6 months and above its moving averages. Value 59: cheap on sales but expensive on free cash flow. Quality 53: F-Score 8/9 but a tight balance sheet. | Yield 1.8% | P/E 12.5 | 86 Score | 53 Q | 59 V | 70 M | Full House | |
| 18 | FAGR.BR Fagron NV BE · Healthcare · $1.8B Quality 62: high return on equity and ROIC in the top 20% of its sector. Value 60: cheap on sales. Momentum 57: near its 52-week high but estimates cut. | Yield 1.8% | P/E 17.6 | 84 Score | 62 Q | 60 V | 57 M | Full House | |
| 19 | WEHB.BR Wereldhave Belgium BE · Real Estate · $684.9M Momentum 67: near its 52-week high and estimates revised up. Value 60: a high yield. Quality 52: wide operating margins but a tight balance sheet. | Yield 8.3% | P/E 10.7 | 84 Score | 52 Q | 60 V | 67 M | Full House | |
| 20 | AZE.BR Azelis Group NV BE · Basic Materials · $3.2B Momentum 63: near its 52-week high and above its moving averages. Value 59: cheap on free cash flow. Quality 56: strong free cash flow but high debt. | Yield 1.9% | P/E 25.6 | 83 Score | 56 Q | 59 V | 63 M | Full House | |
| 21 | VASTB.BR Vastned BE · Real Estate · $535.1M Momentum 66: estimates revised up and near its 52-week high. Value 58: cheap on P/E but expensive on sales. Quality 54: wide operating margins but a tight balance sheet. | Yield 6.6% | P/E 8.3 | 83 Score | 54 Q | 58 V | 66 M | Full House | |
| 22 | COMB.BR Compagnie du Bois Sauvage S.A. BE · Consumer Defensive · $545.8M Momentum 64: quarterly earnings growing and near its 52-week high. Value 61: cheap on P/E and cheap on free cash flow. Quality 51: mixed. | Yield 2.8% | P/E 10.9 | 81 Score | 51 Q | 61 V | 64 M | Full House | |
| 23 | MELE.BR Melexis NV BE · Technology · $3B Quality 68: a liquid balance sheet and high return on equity. Momentum 57: outperforming the market over 6 months but quarterly earnings shrinking. Value 50: a high yield but far above book value. | Yield 5.7% | P/E 25.8 | 80 Score | 68 Q | 50 V | 57 M | Full House | |
| 24 | UCB.BR UCB SA BE · Healthcare · $46.2B Quality 75: F-Score 8/9 and wide operating margins. Value 51: little or no yield. Momentum 49: quarterly earnings growing. | Yield 0.7% | P/E 18.4 | 80 Score | 75 Q | 51 V | 49 M | Unloved QualityDir. buy | |
| 25 | SYENS.BR Syensqo SA/NV BE · Basic Materials · $9.3B Momentum 81: EPS improving and near its 52-week high. Value 48: mixed. Quality 44: a weak F-Score 4/9. | Yield 2.1% | P/E — | 79 Score | 44 Q | 48 V | 81 M | Hot AirDir. buy |
Ranked by StockRank (Quality + Value + Momentum composite) at a minimum market cap of $250M. Yield and P/E are as of the data date; click a ticker for today’s price and score. A new edition is generated on the first scoring run of each month.
Director buying reported in the 90 days to : VAN.BR, UMI.BR, RET.BR, BEKB.BR, JEN.BR, UCB.BR and 1 more
Active share buybacks in the 180 days to : VAN.BR, TITC.BR, BEKB.BR, JEN.BR
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How Belgium scores
Where the top 25 come from, and how the whole Belgian market sits against the global universe. StockRank is a global percentile, so the universe splits evenly into five bands by construction; a market that piles up on the right is scoring well as a whole.
Top 25 by sector
- Industrials8
- Real Estate4
- Technology4
- Basic Materials3
- Consumer Defensive3
- Healthcare2
- Other1
Share of Belgian stocks by StockRank band
- 0-1910% / 20%
- 20-396% / 20%
- 40-5917% / 20%
- 60-7938% / 20%
- 80-10029% / 20%
Belgiumall markets
Holding Companies, Biotech, and a Market of Specialists
Belgium is a small, open economy whose stock exchange punches above its weight: the world's largest brewer, one of Europe's most important biotech clusters, a bench of chemicals and materials companies, and a set of listed holding companies through which the country's old industrial families still own much of its corporate base. It is a market of specialists rather than an index story. The list below is where Quality, Value and Momentum agree.
MoatMap scored 87 Belgian stocks on 2026-09-25; 67 cleared the $250M market-cap floor this list applies. The market's average StockRank is 64. Industrials is the most represented sector in the top 10 (5 names).
Brussels has three layers. The top is a handful of global companies that happen to be Belgian: AB InBev in beer, UCB and argenx in pharmaceuticals and biotech, Solvay and Syensqo in chemicals, Umicore in materials, KBC in banking. The middle is the holding companies, a Belgian tradition: Groupe Bruxelles Lambert, Sofina, Ackermans & van Haaren, Brederode and their peers own stakes in listed and private businesses across Europe and trade at a discount to the value of what they hold. Like Sweden's investment companies they can score well on Value and Quality by construction, because their reported earnings include gains on the portfolio, so read a holding company's discount to net asset value rather than its earnings multiple. The bottom layer is the specialists, from real estate investment trusts (Belgium has one of the largest listed REIT sectors in Europe) to sensors, coatings, medical devices and a long tail of family-controlled industrial mid caps.
Biotech is the sector that makes Belgium unusual for its size. Leuven, Ghent and the Walloon science parks have produced a cluster of listed drug developers, argenx the largest, and their scores behave like nothing else on the board: a pre-revenue biotech scores poorly on Quality by construction and can sit at either end of Momentum depending on a trial readout. The screen surfaces the ones with earnings, which is fine for a best-stocks list but means the sector's most speculative names never appear here; the ranked-stocks screener carries them all.
Disclosure follows the EU Market Abuse Regulation and MoatMap reads the Belgian register directly. Persons discharging managerial responsibilities must report trades to the FSMA within three business days, and the regulator publishes them as structured detail pages with the person, the role, the instrument, the volume and the price. Buybacks are disclosed on the Euronext company-news feed as weekly aggregated reports, and several Brussels issuers file the multi-venue daily tables the feed parses. Both feed the director-buying and buyback callouts below the table through MoatMap's Euronext feed.
Access is straightforward: Euronext Brussels is available through most international brokers, settlement is in euros, and the largest names trade as US ADRs. Belgium withholds 30% on dividends paid to non-residents, one of the highest rates in Europe, reduced under treaties by reclaim, and a handful of Brussels-listed companies (argenx, Shurgard, Vastned) keep a Dutch or Luxembourg registered office while trading here as a home market; they appear on this page where they clear the screen.
Frequently Asked Questions
- What are the best Belgian stocks to buy right now?
- The table above ranks MoatMap's top 25 Euronext Brussels stocks by StockRank, a composite of Quality (ROIC, F-Score, leverage), Value (P/E, EV/EBITDA, P/B, shareholder yield) and Momentum (price trend plus earnings revisions). It refreshes monthly with a stated data date, and each ticker links to a full score breakdown.
- Why do Belgian holding companies score so well?
- Groupe Bruxelles Lambert, Sofina, Ackermans & van Haaren and their peers own stakes in other businesses and their reported earnings include gains on the portfolio, so their Quality and Value scores read high by construction. They are well-run vehicles, but read the published discount to net asset value rather than the earnings multiple.
- Where are Belgium's biotech stocks in this list?
- Mostly absent by construction: a pre-revenue drug developer scores poorly on Quality and swings on Momentum with each trial readout, so the screen surfaces the biotechs that have earnings (argenx among them) and leaves the speculative ones to the ranked-stocks screener, which carries every Brussels listing.
- Does MoatMap track Belgian insider trades and buybacks?
- Yes, through the Euronext feed. Directors' dealings come from the FSMA's MAR Article 19 register (person, role, instrument, volume and price, within three business days) and buybacks from the weekly aggregated reports on the Euronext company-news feed, including the multi-venue daily tables several Brussels issuers file.
- How can foreigners buy Belgian stocks, and what about the withholding tax?
- Euronext Brussels is available through most international brokers, settlement is in euros and the largest names trade as US ADRs. Belgium withholds 30% on dividends paid to non-residents, one of the highest rates in Europe, reduced under treaties by reclaim, so confirm the process with your broker before comparing yields.
- How often does this Belgium ranking refresh?
- A new edition forms on the first scoring run of each calendar month and the page states its data-as-of date. Underlying scores recompute nightly; for the daily view, use the ranked-stocks screener filtered to Belgium.