European Growth Leaders 2026

Annual ranking data providerLSEG WorkspaceUsed with permission · acknowledgements

An independent research observatory tracking Europe’s listed growth companies.

Francesco Castellaneta, Full Professor of Strategy and Entrepreneurship, SKEMA Business School – Université Côte d’Azur (GREDEG) · Scientific Committee Diego Zunino and Jackie Krafft

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Annual rank34

Netherlands · Industrials

Heijmans

Combines property development, construction and technical services, and infrastructure across its Living, Working and Connecting activities.

+53%revenue growth
FY2022–FY2025
+119%net-income growth
FY2022–FY2025
+701%stock return
FY2022–FY2025
+32%2026 stock return
current context only

Company profile

Build the Netherlands in factories, on live sites and through software

Heijmans is a Dutch property developer, builder, technical-services provider and infrastructure contractor; it does not own the public networks and venues it works on. Current reporting groups several underlying businesses into Living, Working and Connecting. Its range runs from factory-built homes and data centres to high-voltage substations, tunnels and predictive maintenance, combining physical construction with prefabrication, sensors and software across the Netherlands.

Factory-built homes

A wind- and watertight home erected in one day

At Heerenveen, Heijmans digitally configures Horizon timber-frame homes and assembles demountable 2D wall, floor and roof elements plus 3D bathroom, installation and stair modules in its CO2-neutral factory. A wind- and watertight home can then be erected on site in one day. Standardised production still allows XS-to-L formats and varied facades for different neighbourhoods. An official 74-second timelapse follows 88 Horizon homes in 't Ven, Eindhoven, from construction start to handover.

Electricity infrastructure

480 modules for 120 high-voltage switching fields

Heijmans opened the Krachtveld plant in Ede at the end of 2025 to assemble and test 480 prefabricated modules for 120 switching fields over five years. By 21 May 2026, it said assembly of prefabricated high-voltage substations was under way; no delivered-module count was disclosed. TenneT commissioned the nearly EUR 80 million work and operates the grid; Heijmans is the manufacturer and contractor. The issuer says controlled production should be about 30% faster than traditional on-site construction. At Maasbracht, a separate EUR 194 million assignment upgrades a live 380 kV substation through 2029 while TenneT remains the operator.

Buildings and long-term service

Construct around aircraft, patients and secured computers

Working extends beyond a conventional handover. At the National Military Museum, Heijmans coordinated multiple disciplines beneath a 110-by-250-metre prefabricated roof and disclosed involvement across a 25-year operating period. A current North Holland data-centre contract covers an 11,000-square-metre, 10 MW building using prefabricated components, designed for water reuse and prepared for a district-heating connection that could reuse residual heat. At Amsterdam UMC, teams renovated an operational hospital ward in phases for five years, installing off-site-assembled ceiling skids. Heijmans is contractor and service participant, not museum, hospital or data-centre owner.

Smart infrastructure

About forty-five tunnel subsystems, one control layer and no driver

A modern tunnel can contain about 45 subsystems, from ventilation and lighting to escape doors and video. Heijmans' 3B platform brings their control, operation and monitoring together; BIM and gaming software simulate failures and train operators. In the Piet Hein Tunnel alliance with Amsterdam and Yunex Traffic, Heijmans integrated and installed the systems rather than operating the tunnel. Separate digital-mobility services connect roadside systems and maintenance data. A fully electric autonomous asphalt-roller prototype, developed with Avular and tested at Schiphol, follows pre-entered digital instructions, monitors temperature and operates without an onboard driver.

Current 2026 update

What is changing at Heijmans in 2026?

Heijmans is moving repeatable construction work into controlled production: grid equipment in Ede, homes in Heerenveen and refurbished guardrails in Son en Breugel.

Latest official evidence H1 factory, housing and execution update Published 24 July 2026

The change in one sentence

A project contractor is building more like a manufacturer.

Prefabrication now spans substations, homes and road safety assets, while delivery counts, location-specific demand and customer adoption remain the tests.

Four lenses on 2026

The same four-quadrant format used in the Company profile.

01 · Krachtveld

The grid factory moved from opening to active assembly

Heijmans opened Krachtveld in Ede at the end of 2025 and said on 21 May that it was assembling prefabricated high-voltage substations. The nearly EUR 80 million TenneT programme covers 480 modules for 120 switching fields over five years. Heijmans says factory assembly and testing are about 30% faster than traditional site construction; it has not disclosed how many finished modules have been delivered.

02 · Factory-built homes

A faster building system meets two different housing markets

Heijmans sold 1,506 homes in H1, 7.8% fewer than a year earlier. It says projects outside cities still sell out quickly while urban projects move much more slowly. Horizon modules from Heerenveen and standardised Optio homes are designed to build more quickly and with less site labour, but the company still identifies permits, affordability rules, the absence of foreign institutional investors and planning lead times as constraints.

  • Current signal1,506 H1 sales · -7.8% · suburban fast · urban slower
  • Why it mattersIndustrial production can shorten construction and reduce labour needs; it cannot by itself create demand or planning permission in a specific location.
  • H1 housing and segment update Heijmans · 2026-07-24

03 · Reforail

Guardrail replacement is becoming a factory process

Heijmans says the Netherlands has about 8,000 km of guardrail with a typical 20-30 year life. Existing rails are dismantled and assessed; a specialist applies the refit process, after which Heijmans prepares them at its Son en Breugel factory for roadside reinstallation. Heijmans says the same task can be handled with half the staff and roadside installation can be up to twice as fast; it also claims up to 82% less CO2 per metre and a 77% reduction in the Dutch MKI environmental-impact indicator. These are issuer-reported process claims, not independent measurements.

  • Current signalAbout 8,000 km installed · Heijmans claims half the staff and up to 2x faster roadside installation
  • Why it mattersThe factory logic is moving into recurring road maintenance, where labour exposure, closure time and reuse determine whether it scales.
  • Reforail factory process Heijmans · 2026-05-19

04 · What to watch

Three questions for the next disclosures

Three operating checks test whether prefabrication becomes repeatable delivery rather than a collection of demonstrations.

  • Krachtveld outputHow many modules and complete switching fields are delivered, and does the five-year programme achieve the claimed 30% time advantage?
  • Housing throughputDo Horizon and Optio improve delivery while urban sales and permit lead times remain slower than suburban projects?
  • Reforail rolloutHow many kilometres adopt the process, and do realised labour, closure-time and per-metre carbon results match Heijmans' claims?

Annual record

Ranking history

Future editions add rows; they do not rewrite the 2026 record.

EditionMeasurement periodRankRevenue growthNet-income growthStock return
2026FY2022–FY202534+53%+119%+701%