The 5,000 largest industrial and commercial companies in Belgium made a total of 36 billion euros in profit last year. This is evident from the ‘Top 5,000’ of Trends. Compared to 2020, this is a doubling, but then many companies were hit hard by the corona crisis. It is likely that many more heavy blows will follow.
The Belgian activities of the French energy giant Engie top the list in terms of profit. The company that operates, among other things, the Belgian nuclear power plants, made a profit of 1.92 billion euros in 2021, compared to a loss of 2 billion euros in 2020.
Pharma sector
Second place follows Etching. L. Lacroix Fils, the Belgian subsidiary of tobacco giant Imperial Brands, including rolling paper maker Rizla. That saw profits climb to 1.76 billion euros, after a loss of 7.4 million euros.
Janssen Pharmaceuticals – still in first place last year – completes the top three with a profit of 1.62 billion euros, a decrease of 581 million euros. Due to the corona crisis, 2020 was a booming year for the pharmaceutical sector: for example, GSK Biologicals and Pfizer Manufacturing Belgium – last year in second and third place – are no longer to be found in the top ten.
Another notable riser is Apetra, which is in ninth place with a profit of 785 million euros. This is the company that manages the strategic oil reserves in our country, which are used to compensate for market shortages. In 2020 there was still a loss of 610 million euros.
Revenue
In terms of turnover, the 5,000 largest industrial and commercial companies saw revenues increase by 17 percent to 755 billion euros. “That’s comfortable, but we have to take into account the general price increases,” emphasizes Trends, which points out that the added value (167 billion euros) increased at a slower pace.
Arranged by turnover is car company Toyota MotorEurope (28.3 billion euros) the largest company in Belgium. Then come the oil company ExxonMobil Petroleum & Chemical (19.9 billion euros) and Janssen Pharmaceuticals (19.75 billion euros).
“Dark clouds”
According to ‘Trends’, our country currently has a total of more than 1.6 million active companies, the highest number ever. According to the economic magazine, “a strong storm” is coming, “with a massive number of commercial businesses that give up after they struggled through the covid years”.
According to Trends, the difficult current economic situation, including the energy crisis, sky-high inflation and an imminent recession, will make victims, “and not only for companies that have been granted a stay of execution in one way or another (artificially) in the past period”.
LOOK. Inflation is expected to fall 2 percent next month. But does this mean that prices will also fall? “On the contrary”, explains financial expert Paul D’Hoore
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