BEL 20

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BEL 20
BEL 20 performance between 1990 and 2012
Foundation 30 December 1990
Operator Euronext
Exchanges Euronext Brussels
Constituents 20
Type Large cap
Market cap 214.18 billion (end 2010)[1]
Weighting method Capitalization-weighted

The BEL 20 is the benchmark stock market index of Euronext Brussels. In general, the index consists of a minimum of 10 and a maximum of 20 companies traded at the Brussels Stock Exchange. Since 20 June 2011, the BEL20 has contained 20 listings.


The composition of the BEL 20 index is reviewed annually based on closing prices on the last Friday in February.[2] These changes are effective after the third Friday of March. In addition to meeting a set of criteria demanding a company be "representative of the Belgian equity market", at least 15% of its shares must be considered free float in order to qualify for the index.[2] In addition, a candidate for inclusion must possess a free float market capitalisation (in Euros) of at least 300000 times the price of the index on the last trading day of December.[2] The minimum requirement for an existing constituent to remain in the index is a market cap of 200000 times the index value.[2] At each annual review, the weights of companies in the index are capped at 15%,[2] but range freely with share price subsequently. The BEL20 is a capitalization-weighted index. Its record high is 4756,82 set on 23 May 2007.


Belgacom (now rebranded Proximus) payphone in Lebbeke.
Colruyt supermarket in Ghent.

The following 20 stocks make up the BEL 20 as of 20 March 2017.

Company ICB Sector Ticker symbol Index weighting (%)[1]
Ackermans V.Haaren Financial Services ACKB 2.18
Ageas Insurance AGS 5.15
AB InBev Food and Beverage ABI 13.01
Aperam Steel APAM
Bekaert Industrial Goods and Services BEKB 1.16
Cofinimmo Real Estate COFB 1.77
Colruyt Retail COLR 2.62
Galapagos Health Care GLPG 1.66
GBL Financial Services GBLB 5.01
Engie Utilities ENGI 11.67
ING Group N.V. Banks INGA 11.19
KBC Banks KBC 10.24
Ontex Group Personal and Household Goods ONTEX 1.42
Proximus Telecommunications PROX 3.18
Sofina Investment company SOF
Solvay Chemicals SOLB 6.01
Telenet Group Media TNET 1.93
Bpost Industrial Goods and Services BPOST 1.90
UCB Health Care UCB 6.85
Umicore Chemicals UMI 4.19
  • ^1 - Weightings accurate on 30 September 2016.

Former companies in the BEL20[edit]

Company ICB Sector Ticker symbol Removal Date
Almanij banks ALMB 3 March 2005[3]
Electrabel electricity ELE 15 November 2005[4]
Barco electronic equipment BAR 1 March 2007[5]
Agfa-Gevaert electronic equipment AGFB 2 March 2009[6]
NPM/CNP specialty finance NAT 2 May 2011[7]
Omega Pharma pharmaceuticals OME 29 December 2011[8]
Dexia banks DEXB 19 March 2012[9]
Befimmo-Sicafi industrial and office REITs BEFB 18 March 2016[10]
Delta Lloyd insurances DL 18 March 2016[10]
D'Ieteren consumer services DIE 18 March 2016[10]
Ahold Del Retail AD 17 March 2017[11]
Elia Utilities ELI 17 March 2017[11]


  1. ^ "BEL-20 Executive Presentation 2010" (PDF). Euronext. Archived from the original (PDF) on 9 November 2011. Retrieved 2010-12-31. 
  2. ^ a b c d e "Rules for the BEL 20-Index" (PDF). Euronext. 1 October 2015. Retrieved 1 October 2015. 
  3. ^ "BEL20: KBC-Almanij Merger" (PDF). Euronext. Archived from the original (PDF) on 20 March 2009. Retrieved 30 November 2007. 
  4. ^ "Suez replaces Electrabel in the BEL20 Index" (PDF). Euronext. Archived from the original (PDF) on 20 March 2009. Retrieved 4 December 2007. 
  5. ^ "Annual review of the BEL20 Index" (PDF). Euronext. 15 January 2007. Archived from the original (PDF) on 20 March 2009. Retrieved 30 November 2007. 
  6. ^ "Annual review of BEL20 index" (PDF). Euronext. 31 May 2011. Archived from the original (PDF) on 9 November 2011. Retrieved 22 June 2011. 
  7. ^ "Index Announcement" (PDF). NYSE Euronext. 29 April 2011. Retrieved 8 May 2011. 
  8. ^ "Omega Pharma verdwijnt uit Bel20 na geslaagd bod Marc Coucke". Trends (in Dutch). 27 December 2011. Retrieved 12 January 2013. 
  9. ^ "Dexia valt uit Bel20". De Standaard (in Dutch). January 2, 2012. Retrieved 12 January 2013. 
  10. ^ a b c "Galapagos, ING en Ontex komen in de Bel-20-index" [Galapagos, ING and Ontex enter the Bel-20-index]. de tijd (in Dutch). 4 March 2016. Retrieved 4 March 2016. 
  11. ^ a b "Nieuwkomer Aperam samen met Sofina naar Bel20". (in Dutch). 7 March 2017. Retrieved 7 March 2017. 

External links[edit]