Montea NV: 1 director

A director at Montea NV bought 1,000 shares at 73.740EUR and the significance rating of the trade was 57/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly show...

Proximus/Not your normal Telco yet, FCF lower for longer/HOLD

Ontex/Another challenging year ahead/HOLD

We reiterate our HOLD rating on Ontex and lower our target price from €5.40 to €4.70, following the group's weaker-than-expected FY25 results and a FY26 guidance we see as challenging, especially given the strong headwinds the company will have to cope with over 1H26. Ontex's material exposure to the Baby care segment remains the most challenged one in our view, given unsupportive demographics trends in key markets and material price and promotion pressure from branded players. At €4.7, Ontex wo...

Benelux Morning Notes

PostNL: 4Q25 notch better but supported by one-offs, Parcels below; outlook FY26 below. Recticel: FY25 preview

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 02/20/2026

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 20/02/2026

Cofinimmo : FY 2025: Stable results underpinned by robust healthcare p...

Benelux Morning Notes

Ahold Delhaize: Peer Walmart 4Q25/26 results. Arcadis: Main topics 4Q25/FY25 conference call. ASM: 4Q25 preview, FY26 should be strong. Brunel: 4Q25 result beats and trends stabilise; DACH back to growth in 1Q26; additional cost savings announced and special dividend. Cofinimmo: Beat on bottom line, strong investment outlook for 2026. IMCD: Another step in EMEA. Magnum Ice Cream Company: Peer Danone 4Q25 results. Recticel: Peer Kingspan FY25 results. Software sector: Cheaper code...

Morning Notes : COFB BB, GLPG NA, UMI BB

: COFB BB, GLPG NA, UMI BB

Cofinimmo FY25 results above expectations, guidance below

Cofinimmo reports recurring EPRA EPS +1,1% above our estimates and 4,0% above its guidance. The earnings beat is driven by higher like-for-like rental income at +2,9%. The EPRA EPS outlook of FY26 is below our estimates at € 6,35 vs € 6,39 KBCSe. The guided debt ratio at YE26 is 340 bps higher than our expectations at 44,0% due to only € 110,0m guided asset disposals and higher than expected investments at € 310,0m which will mainly impact FY27/28 rental income. In the medium term, the focus sho...

Benelux Morning Notes

AEGON: Uneventful results, US weaker, underlying OCG in line / Air France-KLM: Productivity gains starting to filter through / Arcadis: Weak revenues and EBITA, but strong NWC / Ascencio: Results in line, no concerns on Carrefour Belgium exposure / Azelis: Persisting softness in 4Q25, continued focus on costs and cash / BAM Group: Solid 2H25 results, 2026 outlook in line / Belgian telecoms: Telenet improved net adds, to relist as part of Ziggo in 2027, Liberty to sell half of its 66% Wyre stake ...

Materialise FIRST LOOK : 4Q25 results

We will update our model as Materialise expects FY26 to grow to a range of €273m to €283m (KBCSe € 282.5m). Materialise will continue investing in its Materialise Medical and Software segments while maintaining disciplined cost control and optimization, in particular in its Materialise Manufacturing segment and in its overhead. As a result, Materialise expects its FY26 Adj EBIT to reach € 10m to € 12m (KBCSe € 14.5m). FY25 revenue remained stable at € 267.6m (KBCSe € 269.3m), fuelled by stron...

Morning Notes : ABI BB, AGN NA, ARCAD NA, BESI NA, ENX FP, GIMB BB, HY...

: ABI BB, AGN NA, ARCAD NA, BESI NA, ENX FP, GIMB BB, HYL BB, IBAB BB, KIN BB, MTLS US, VGP BB, AZE BB, ZEAL DC

X-Fab Silicon Foundries SE: 1 director

A director at X-Fab Silicon Foundries SE bought 5,500 shares at 4.390EUR and the significance rating of the trade was 52/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two ye...

Benelux Morning Notes

ASR: Better results, strong solvency, SBB below though; new CEO, new CMD on 1 Dec / IMCD: Weak 4Q25 / Kinepolis: Bankruptcy of Belga Films, the oldest film distribution business, along with its eight-screen cinema complex in Brussels; 2H25 preview / Proximus: CpaaS peer Sinch 4Q25 results a bit light of consensus, stock down 14%

Morning Notes : AED BB, ASRNL NA, BAR BB, COFB BB, UMI BB, IMCD NA, ZE...

: AED BB, ASRNL NA, BAR BB, COFB BB, UMI BB, IMCD NA, ZEAL DC

Ontex - Earnings Flash - FY 2025 Results - Lucror Analytics

Ontex has released weak FY 2025 results. The company downgraded its guidance twice in the year, due to soft demand amid weak consumer sentiment, high promotional activity from A brands and supply-chain constraints, as well as increases in raw-material costs. Meanwhile, H2 was more challenging than management's initial expectations. Looking ahead, Ontex anticipates that market conditions will remain soft. That said, management is optimistic that performance will improve gradually through the year...

Benelux Morning Notes

Aedifica: Results slightly better, guidance for the combined entity to come in Sept. CM.com: 4Q25 results – no turning point yet. D'Ieteren: Allstate reports bumper 4Q25, touts premium cuts, consensus prudent. Heijmans: Construction cool cat. Proximus: CPaaS peer Twilio 4Q25 results better than expected. Talabat: 4Q25 results, doubling down on investments. Theon International: Preview – a busy year it was.