Belgium Best Managed Companies

The global framework for Best Managed Companies

Best Managed Companies is a programme that aims to challenge and recognise the overall strength of successful private companies, while coaching and recognising their leadership teams.

The programme was established in Canada in 1993 where it has been run successfully ever since and has become the country’s leading business awards programme. Launched in Belgium in 2017, the programme is active in 46 countries and counting.

What constitutes a Best Managed Company?

Deloitte has found that four leading practices are adopted by Best Managed Companies, setting them apart from the average and ensuring that they sustain exceptional performance.

An independent jury of academics and entrepreneurs evaluates applicants against the following pillars:

Strategy

Alignment & implementation
Best Managed Companies apply a formal methodology for strategy development, execute strategy through strong governance, implement programme management and metrics to measure progress, and clearly and consistently communicate the strategy internally and externally.

Capabilities

Assets & innovation
Best Managed Companies seek to think differently relative to their competitors and focus on embracing innovation and efficiency, develop skills through partnerships, and focus on attracting and retaining the right people internally.

Commitment

Talent engagement & leadership
Best Managed Companies focus on building a ‘one-team’ culture, promote desired behaviour through an effective performance management process and holistic compensation package, and address succession planning by investing in the NextGen.

Financial

Business insights & governance
Best Managed Companies grow and maintain strong P&L and balance sheets, apply key customised metrics, install a mature reporting system to drive business decisions, and build and sustain strong relationships with financial stakeholders.

How to become a Best Managed Company?

Who can apply?

Companies that wish to enter the programme must meet the following eligibility criteria:

• Turnover in excess of €25 million
• Established for at least five years
• More than 25 full-time employees
• Majority stake (> 60%) owned by Belgian residents or entities
• HQ or major decision centre in Belgium (operations can be abroad)
• Fully compliant from legal, tax and ethical perspective
• Managing finances effectively, adapting to changing market conditions, over the past three financial years
• Strong governance structure (cf. active advisory board/board of directors)
  

Companies that do not yet meet all the programme criteria can take part in the Best Managed Labs.

The following companies are ineligible:

Credit institutions, banks, insurance companies, co-ops, SEC (Securities and exchange commission) regulated companies (e.g., SEC registrants and their affiliates), companies active in the gambling industry, Belgian subsidiaries of foreign multinationals, government-owned entities/public sector agencies, charities and not-for-profit organisations and their affiliates and subsidiaries

The application process?

To be considered for Best Managed Companies, new applicants must go through a two phase application process.

• Step 1: Register for the programme (Phase 1)
  Register for the programme by completing the Phase 1 online application form by Monday 7 October 2024. All companies deemed eligible are then invited to complete a further more detailed submission.
• Step 2: Complete your submission (Phase 2)
  Companies shortlisted for the Phase 2 process will work with coaches from Deloitte Private to complete their submission by 17 February 2025.
• Step 3: Review of your submission
  Submissions are reviewed by coaches and an independent judging panel.
• Step 4: Awarding
  Laureates are announced at the gala event that will take place on 22 May 2025.

Rules of the programme

Best Managed Companies is a programme aiming to challenge and recognise the overall strength of successful privately-owned companies, while coaching and recognising their leadership teams.

1. Belgium Best Managed Companies programme is open to all companies who satisfy the eligibility criteria.
2. Companies will need to complete a Phase I application form via a secure online website.
3. Applicants will be required to confirm that the information contained in their application form is accurate, and that they have obtained all necessary authorisations, including consents, to permit handling of this information, in accordance with the Belgium Best Managed Companies programme Terms and Conditions, including the Privacy Statement.
4. The closing date for receipt of Phase I entries is 18:00 CET on Friday, 13 October 2023.
5. Applicants that successfully passed Phase I will be notified and invited to proceed to Phase II. Phase II will include interviews, events and public relations activities, which may include a media interview.
6. The closing date for receipt of Phase II submissions is 18:00 CET on Friday, 16 February 2024.
7. The Best Managed Companies will be selected by an independent judging panel of captains of industry according to the global Best Managed Companies framework in which management abilities and practices are assessed in the following domains: clear strategy, strong capabilities, company commitment and financial performance. The judging panel reserves the right to de-select an application at any stage of the programme.
8. The jury decision of Belgium Best Managed Companies is solely based on the information provided by the applicant within the self-assessment. The applicant remains the responsible for the provided information. At no times, the jury decision could be interpreted as a professional attestation or opinion (based on the necessary audit steps). The judging panel’s decision, regarding the award of the Best Managed Companies programme and the companies that will be awarded, is indisputable.
9. The Best Managed Companies will be announced at the Gala Awards Ceremony on Thursday, 30 May 2024.
10. Applicants agree that Deloitte may incorporate a link to their corporate website on www.bestmanaged.be if they are selected.
11. Belgium Best Managed Companies programme respects the privacy of applicants and their identified contacts, and has put in place processes to support this. Individuals may review, update and correct their personal information, and request removal from the mailing list.

What’s in it for your company?

There are obvious benefits to receiving any award, but the Belgium Best Managed Companies label offers some unique opportunities.
 

The benefit of applying

• Coaching your way to success: One to one coaching from Deloitte Private professionals to conduct a detailed self-analysis of your business, focusing on strategic and operational issues, and to help you complete the Best Managed Companies application before it goes to the judging panel.
• Excellent opportunity to review and re-evaluate your business strategy and help with a future development path for your organisation.
• Shine a light on current best practices and areas for improvement.
   

The benefit of receiving the label

• Increased market visibility and credibility through the exclusive usage of the Belgium Best Managed Companies quality designation/logo.
• Extensive media and online exposure.
• Access to networking opportunities with other exceptional business leaders to learn from peers and share best practices.
• Benchmark your organisation against other strong private companies.
• Strengthened ability to attract and retain talent.
• Professional development at the Best Managed Companies community initiatives, featuring the latest in business leadership and cutting-edge thinking.
• Recognition by business influencers at an exclusive gala celebration.
• Celebrate the efforts and commitment of your entire company.
  

A select group of industry captains

The Belgium Best Managed Companies applications are reviewed by an independent judging panel that decides which companies will be recognised with the ‘Best Managed’ designation.

1. Koenraad Debackere
   Professor at KU Leuven and Chair of KBC Group
2. Carl Dewulf
   CEO of LVD Group
3. Rik Jacob
   Former CEO of Ardo
4. Anne Lafère
   Group CEO of Easyfairs
   
5. Geert Noels
   CEO and Chief Economist Econopolis
6. Hannelore Raes
   Chief People & Finance Officer of Agristo
   
7. Victoria Vandeputte
   CIO at Diversi Foods and Board Member of Ackermans & van Haaren

2025 Belgium Best Managed Companies

The Belgium Best Managed Companies programme is proud to announce its 2025 laureates. These 24 private Belgian companies are being recognised for operating at the highest standards of business performance.
 

• Aertssen Group
• Alides
• Aqualex
• Beddeleem
• Belgian Pork Group
• BMT Aerospace
  
• e5
• Easyfairs
• Elneo
• Eloy 
• Golazo
• Iscal
• Leonidas
• Locinox
• N-SIDE
• QbD Group
• Soudal Group
• Stadsbader
• Technord
• Vandenbussche
• Vanheede Environment Group
• Verhelst Group
• Woodstoxx
• Zuidnatie
  

Connecting the best

The laureates become part of the Best Managed community, a local and global network of companies that have achieved this mark of business success. The programme is active in 46 countries and counting. 

Successful new entrants to the programme are awarded as New laureates and join the exclusive Best Managed Community. The network is made up of requalifying laureates including those that have been awarded with the Gold and Platinum label. 

Laureates have access to attend the programme's year-round events including CEO roundtables, webinars, networking events and the Best Managed Companies Symposium and Gala.