Euronext today announced the results of the September 2025 quarterly review for the BEL 20®, BEL Mid®, BEL Small® and BEL® ESG, which will be implemented after markets close on Friday 19 September 2025 and will be effective from Monday 22 September 2025.
Results of the Quarterly Review
BEL 20®
No changes in the composition of the index.
BEL Mid®
| Inclusion of: | Exclusion of: |
| CMB.TECH | |
| SIPEF |
BEL Small®
| Inclusion of: | Exclusion of: |
| QUESTFOR GR-PRICAF | BANQUP GROUP |
| WAREHOUSES ESTATES |
BEL® ESG
No changes in the composition of the index.
Please note that due to an ongoing assessment regarding the index methodology, the Independent Supervisor has decided to keep the composition of the BEL® ESG index unchanged, pending further potential rule changes which will be consulted upon with the market.
The Independent Supervisor retains the right to change the published selection, for instance in the case of a removal due to a takeover, until the publication of the final data after close of Wednesday 17 September 2025.
All events taking place after that date will not result in the replacement of any company that may need to be removed from the final index selection.
Review BEL® Family
The BEL 20®, BEL Mid®, BEL Small® and BEL® ESG are reviewed quarterly (March, June, September, December). The full annual review is in March.
Next Index Steering Committee Review: Wednesday 10 December 2025.
