reports
- Guy Sips
- Jacob Mekhael
- Kristof Samoy
- Livio Luyten
- Lynn Hautekeete
- Mathijs Geerts Danau
- Michiel Declercq
- Thibault Leneeuw
- Thomas Couvreur
- Wim Hoste
- Wim Lewi
Dynamic Top Pick List How to start 2026?
How to start 2026? We have selected for the KBC Securities Dynamic Top Pick List 12 large-cap companies — AB InBev, Aedifica, Argenx, ASMi, Azelis, DEME, D'Ieteren, Shurgard, Sofina, Vopak, WDP, and Wolters Kluwer — along with 3 small and mid-cap names (under €1.5bn in market capitalization): Corbion, EVS, and IBA. So, going into 2026, we maintain a balanced approach in our Dynamic Top Pick List, featuring 8 cyclical and 6 defensive stocks, with a particular emphasis on value stocks that have b...
EVS EVS BROADCAST EQUIPMENT SA
DIE D'IETEREN SA
SOF SOFINA SA
ASM ASM INTERNATIONAL N.V.
IBAB ION BEAM APPLICATIONS SA
ROYAL VOPAK NV
AED AEDIFICA SA
CSM CORBION NV
ABI ANHEUSER-BUSCH INBEV SA/NV
ARGX ARGEN-X SE
WDP WAREHOUSES DE PAUW SCA
AZE AZELIS GROUP NV
DEME DEME GROUP NV
SHUR SHURGARD SELF STORAGE LIMITED
- Guy Sips
- Michiel Declercq
- Wim Hoste
Local Champions Mid Cap Conference Book 11.12.2025
This conference book is your guide to our annual Local Champions Mid Cap Conference set to take place on Thursday, 11 December 2025 at our historic building at Grand Place in Brussels. This event offers the possibility to have one-on-one meetings and/or attend small group sessions with the top management and/or IR of the following companies: BARCO | BEKAERT | DECEUNINCK | DEME | EVS | IBA | JENSEN GROUP | MATERIALISE | ONTEX | PROXIMUS | RECTICEL | XFAB
- Bruno Cavalier
- Jerôme Bodin
LI KLEPIERRE SA
COV COVIVIO SA
GFC GECINA SA
NXI NEXITY SA CLASS A
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
GYC GRAND CITY PROPERTIES SA
MERY MERCIALYS SA
EL ESSILORLUXOTTICA SA
INEA FONCIERE INEA
VIV VIVENDI SE
WHA WERELDHAVE N.V.
BLND BRITISH LAND COMPANY PLC
BRBY BURBERRY GROUP PLC
LPE LAURENT-PERRIER SA
KOF KAUFMAN & BROAD SA
KER KERING SA
ALTA ALTAREA SCA
VNA VONOVIA SE
XIOR XIOR STUDENT HOUSING N.V.
ICAD ICADE SA
01913 PRADA S.P.A.
BYG BIG YELLOW GROUP PLC
UTG UNITE GROUP PLC
COFB COFINIMMO SA
COR CORTICEIRA AMORIM SGPS SA
CAI CA IMMOBILIEN ANLAGEN AG
TEG TAG IMMOBILIEN AG
VASTB VASTNED RETAIL BELGIUM NV
PSPN PSP SWISS PROPERTY AG
UBS UBM DEVELOPMENT AG
SPSN SWISS PRIME SITE AG
PAT PATRIZIA AG
MONT MONTEA SCA
AED AEDIFICA SA
CARM CARMILA SAS
LEG LEG IMMOBILIEN AG
MONC MONCLER SPA
CPINV CARE PROPERTY INVEST SA
EUR EUROCASH S.A.
SAFE SAFESTORE HOLDINGS PLC
ARG ARGAN SA
VGP VGP NV
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
COL INMOBILIARIA COLONIAL SOCIMI SA
DIC DIC ASSET AG
FACC FACC AG
MERLIN MERLIN PROPERTIES SOCIMI S.A.
HOME NEINOR HOMES SA
AT1 AROUNDTOWN SA
LAND LAND SECURITIES GROUP PLC
MVC METROVACESA SA
NSI NSI N.V.
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
INS INSTONE REAL ESTATE GROUP AG
AEDAS AEDAS HOMES SA
WDP WAREHOUSES DE PAUW SCA
ECMPA EUROCOMMERCIAL PROPERTIES NV
ZGN ERMENEGILDO ZEGNA NV
CTPNV CTP NV
TTS TRANSPORT TRADE SVCS
SHUR SHURGARD SELF STORAGE LIMITED
- Bruno Cavalier
- Olfa Taamallah
- Steven Boumans
- Thomas Zlowodzki
- Yan Derocles
MC LVMH MOET HENNESSY LOUIS VUITTON SE
LI KLEPIERRE SA
COV COVIVIO SA
GFC GECINA SA
NXI NEXITY SA CLASS A
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
GYC GRAND CITY PROPERTIES SA
MERY MERCIALYS SA
EL ESSILORLUXOTTICA SA
INEA FONCIERE INEA
WHA WERELDHAVE N.V.
BLND BRITISH LAND COMPANY PLC
BRBY BURBERRY GROUP PLC
ITRK INTERTEK GROUP PLC
KOF KAUFMAN & BROAD SA
KER KERING SA
ALTA ALTAREA SCA
VNA VONOVIA SE
ALO ALSTOM SA
XIOR XIOR STUDENT HOUSING N.V.
ICAD ICADE SA
01913 PRADA S.P.A.
BYG BIG YELLOW GROUP PLC
UTG UNITE GROUP PLC
COFB COFINIMMO SA
CAI CA IMMOBILIEN ANLAGEN AG
TEG TAG IMMOBILIEN AG
VASTB VASTNED RETAIL BELGIUM NV
PSPN PSP SWISS PROPERTY AG
UBS UBM DEVELOPMENT AG
SPSN SWISS PRIME SITE AG
PAT PATRIZIA AG
MONT MONTEA SCA
AED AEDIFICA SA
CARM CARMILA SAS
LEG LEG IMMOBILIEN AG
MONC MONCLER SPA
CPINV CARE PROPERTY INVEST SA
SAFE SAFESTORE HOLDINGS PLC
ARG ARGAN SA
VGP VGP NV
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
COL INMOBILIARIA COLONIAL SOCIMI SA
DIC DIC ASSET AG
MERLIN MERLIN PROPERTIES SOCIMI S.A.
ASML ASML HOLDING NV
HOME NEINOR HOMES SA
AT1 AROUNDTOWN SA
LAND LAND SECURITIES GROUP PLC
MVC METROVACESA SA
NSI NSI N.V.
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
INS INSTONE REAL ESTATE GROUP AG
AEDAS AEDAS HOMES SA
WDP WAREHOUSES DE PAUW SCA
ECMPA EUROCOMMERCIAL PROPERTIES NV
AM DASSAULT AVIATION
ZGN ERMENEGILDO ZEGNA NV
CTPNV CTP NV
SHUR SHURGARD SELF STORAGE LIMITED
- Florent Laroche-Joubert
- Roy Külter
- Steven Boumans
COV COVIVIO SA
GFC GECINA SA
NXI NEXITY SA CLASS A
GYC GRAND CITY PROPERTIES SA
MERY MERCIALYS SA
INEA FONCIERE INEA
WHA WERELDHAVE N.V.
BLND BRITISH LAND COMPANY PLC
KOF KAUFMAN & BROAD SA
ALTA ALTAREA SCA
VNA VONOVIA SE
XIOR XIOR STUDENT HOUSING N.V.
ICAD ICADE SA
BYG BIG YELLOW GROUP PLC
UTG UNITE GROUP PLC
COFB COFINIMMO SA
CAI CA IMMOBILIEN ANLAGEN AG
TEG TAG IMMOBILIEN AG
VASTB VASTNED RETAIL BELGIUM NV
PSPN PSP SWISS PROPERTY AG
UBS UBM DEVELOPMENT AG
SPSN SWISS PRIME SITE AG
PAT PATRIZIA AG
MONT MONTEA SCA
AED AEDIFICA SA
CARM CARMILA SAS
LEG LEG IMMOBILIEN AG
CPINV CARE PROPERTY INVEST SA
SAFE SAFESTORE HOLDINGS PLC
ARG ARGAN SA
VGP VGP NV
COL INMOBILIARIA COLONIAL SOCIMI SA
DIC DIC ASSET AG
MERLIN MERLIN PROPERTIES SOCIMI S.A.
HOME NEINOR HOMES SA
AT1 AROUNDTOWN SA
LAND LAND SECURITIES GROUP PLC
MVC METROVACESA SA
NSI NSI N.V.
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
INS INSTONE REAL ESTATE GROUP AG
AEDAS AEDAS HOMES SA
WDP WAREHOUSES DE PAUW SCA
ECMPA EUROCOMMERCIAL PROPERTIES NV
CTPNV CTP NV
SHUR SHURGARD SELF STORAGE LIMITED
Aedifica NV/SA: Publication relating to transparency notifications fro...
Aedifica NV/SA: Publication relating to transparency notifications from BlackRock, Inc. Please find below a press release from Aedifica (a public regulated real estate company under Belgian law, listed on Euronext Brussels and Euronext Amsterdam), relating to two transparency notifications from BlackRock, Inc. Attachments
- Hilde Van Boxstael
- Livio Luyten
- Thomas Couvreur
- Wim Lewi
Aedifica NV/SA: Publication relating to a transparency notification
Aedifica NV/SA: Publication relating to a transparency notification Please find below a press release from Aedifica (a public regulated real estate company under Belgian law, listed on Euronext Brussels and Euronext Amsterdam), regarding a publication relating to a transparency notification from BlackRock, Inc. Attachments
- Marc Hesselink
- CFA
- Thymen Rundberg
Barco/More modest improvement/BUY
We maintain our Buy rating, reflecting our continued confidence in Barco's positioning within its niche markets and the ongoing enhancements to its product lineup. However, after the company communicated more modest long-term growth and margin objectives at the CMD, we have reduced our forecasts and, as a result, lowered our target price to €16.0 (previously €17.5).
Aedifica invests €21 million in the development of 4 care homes in Fin...
Aedifica invests €21 million in the development of 4 care homes in Finland Please find below a press release from Aedifica (a public regulated real estate company under Belgian law, listed on Euronext Brussels and Euronext Amsterdam), regarding the development of 4 care homes in Turku, Seinäjoki and Kuopio (Finland) for a total amount of €21 million. Attachments
- Guy Sips
- Jacob Mekhael
- Kristof Samoy
- Wim Hoste
Aedifica NV/SA: Publication relating to a transparency notification
Aedifica NV/SA: Publication relating to a transparency notification Please find below a press release from Aedifica (a public regulated real estate company under Belgian law, listed on Euronext Brussels and Euronext Amsterdam), regarding a publication relating to a transparency notification from the Goldman Sachs Group, Inc. Attachments
- Mathijs Geerts Danau
Hyloris Positive results for IV Aspirin, NDA will be submitted
Hyloris announced positive topline results from a pivotal study in healthy volunteers for IV aspirin. The trial achieved all its targets, enabling progression towards submission of a New Drug Application (NDA) in 2026 and expected approval in 2027. IV Aspirin is intended to be used in acute coronary syndrome and is part of Hyloris's CV portfolio, for which Hyloris needs to announce a commercial partner in the US. We model € 52m peak sales by 2037. We reiterate our HOLD and € 6 TP.
- Hilde Van Boxstael
- Lynn Hautekeete
- Mathijs Geerts Danau
- Wim Lewi
Aedifica NV/SA: Publication relating to a transparency notification
Aedifica NV/SA: Publication relating to a transparency notification Please find below a press release from Aedifica (a public regulated real estate company under Belgian law, listed on Euronext Brussels and Euronext Amsterdam), regarding a publication relating to a transparency notification from BlackRock, Inc. Attachments
- ING Helpdesk
Benelux Morning Notes
Adecco: 3Q25 strong beat; outlook 4Q25 seems in line. Air France-KLM: Bit light but outlook unchanged. ArcelorMittal: In line 3Q25, supportive medium-term outlook. AMG: 3Q25 EBITDA beats by 5%, ‘only' modest FY guidance increase might disappoint. BAM Group: Maintains outlook as expected. CTP: Guidance at the lower end due to a missed deal in Romania. Strong operational trends continued. IMCD: 3Q showed pressure on gross margin. Kinepolis: US peer AMC; better revenues and EBITDA in ...
MT ARCELORMITTAL SA
RAND RANDSTAD NV
BAMNB KONINKLIJKE BAM GROEP NV
SOLB SOLVAY SA
AF AIR FRANCE-KLM SA
SOF SOFINA SA
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
MELE MELEXIS NV
VGP VGP NV
KIN KINEPOLIS GROUP NV
INX IMCD N.V.
CTPNV CTP NV
SYENS SYENSQO
TALABAT TALABAT HOLDING PLC
- Guy Sips
- Hilde Van Boxstael
- Jacob Mekhael
- Lynn Hautekeete
- Thibault Leneeuw
- Thomas Couvreur
- Wim Hoste
- Wim Lewi
- Guy Sips
- Kristof Samoy
- Livio Luyten
- Michiel Declercq
- Thibault Leneeuw
- Thomas Couvreur
- Wim Hoste
- Wim Lewi
Dynamic Top Pick List Update November: Removing Xior; Adding Aedifica
The tariff war has eased, but with Trump, uncertainty has become a guarantee. While the macro-economic impact has been limited so far, the prolonged situation could still result in significant and long-lasting economic damage. We are maintaining a defensive stance in our Benelux Dynamic Top Pick List. The Federal Reserve (FED) has started its easing cycle, but the final amount of interest rate cuts is uncertain. The European Central Bank (ECB) has now largely completed its interest rate cutting ...
- Lynn Hautekeete
Aedifica Better too early than sorry
We upgrade Aedifica from HOLD to BUY and add it to our DTPL (Dynamic Top Pick List), ahead of the competition authorities' approval expected mid-January. As the visibility on the timeline has improved last week, we believe investors will start to take position. On a fundamental basis, factoring in the merger, the stock has 22.4% upside to its fair value of €78.0 at 14x forward EPRA EPS (pro forma 100.0% consolidated, FY26 including synergies, excluding one-offs).
Aedifica NV/SA: Publication relating to transparency notifications fro...
Aedifica NV/SA: Publication relating to transparency notifications from BlackRock, Inc. Please find below a press release from Aedifica (a public regulated real estate company under Belgian law, listed on Euronext Brussels and Euronext Amsterdam), regarding a publication relating to two transparency notifications from BlackRock, Inc. Attachments
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.