BEL 20 Index

📌 Definition

The BEL 20 is the benchmark stock index of the Brussels Stock Exchange (Euronext Brussels). It includes the 20 largest listed companies in Belgium, selected based on their free-float market capitalization and liquidity. Created in 1991, it reflects the overall performance of the Belgian market.

📜 Key Features

• 📅 Launch date: March 18, 1991
• 📊 Calculation base: 1000 points on December 30, 1990
• 🏢 Number of companies: 20
• 🔄 Update: real-time (every 15 seconds)
• 📈 Weighting: by free-float market capitalization
• 📋 Annual review: every March

🏢 Typically Included Companies

• AB InBev – Brewery
• KBC Group – Banking and Insurance
• UCB – Biopharmaceutical
• Solvay – Chemicals
• Proximus – Telecommunications
• Ageas – Insurance
• Umicore – Advanced Materials
• GBL – Financial Holding

📈 Role and Use

The BEL 20 index is used as:

• 🔍 Barometer of Belgian economic health
• 📊 Benchmark for index funds and ETFs
• 📉 Analytical tool for investors and economists
• 📌 Performance indicator of the Belgian market

🔧 Calculation Methodology

The BEL 20 is calculated based on free-float market capitalization, meaning the value of shares available for purchase on the market. Companies must have at least 15% free float and a minimum velocity of 35% (shares traded over the year).

📜 History of the BEL 20

The BEL 20 index was launched on March 18, 1991 by Euronext Brussels, with a base value of 1000 points on December 30, 1990. It was designed to support the development of index-based derivatives, particularly on the Belfox market.

• 1991: Closed at 1180 points on the first day (+18%).
• 1997: Index surpasses 2000 points.
• 1998: Breaks 3000 points, reaching a record of 3700 points in January 1999.
• 2000–2003: Hit by the dot-com bubble, drops to 1425 points.
• 2007–2009: Impacted by the global financial crisis, falls to 1523 points in March 2009.
• 2021: Celebrates its 30th anniversary.

Since its creation, the BEL 20 has reflected major economic developments in Belgium and globally. It is regularly adjusted to include the most representative companies of the Belgian market.