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Report 11 Feb 2026

NRB - Vendor Profile - Worldwide

NRB returned to strong growth in FY24, reporting revenues of €638m (+11% vs 2023) with a solid Belgian base. The NRB strategy focuses on European expansion while leveraging core strengths in mainframe, sovereign AI, and regulated sectors.

Overview

The NRB strategy is organized around four market pillars and aims for a 10.5% CAGR to 2026, combining organic and inorganic growth.

Key assets include a Mainframe Academy, nearshore delivery centers, and a geo-resilient Belgian data center footprint.

Market pillars

1. Pillar 1 – Large enterprises: core infrastructure, mainframe, hybrid cloud, cybersecurity, AI and data sovereignty.

2. Pillar 2 – Healthcare (ZORGI): billing, pharmacy, accounting and Electronic Patient Records.

3. Pillar 3 – Local authorities: payroll, tax, electoral and geospatial solutions.

4. Pillar 4 – SMEs and smaller public bodies: secure IT, SAP/Salesforce and connectivity.

Mainframe leadership & expansion

The NRB strategy capitalizes on the declining supply of mainframe services from large vendors, utilizing outsourcing, modernization, and talent pipelines to establish a defensible niche in France, the Netherlands, and EU institutions.

Nearshore centers in Greece, Romania, Italy, and Luxembourg support cost-competitive delivery and proximity.

Sovereign AI and cloud

The NRB strategy places strong emphasis on sovereign AI and hybrid cloud: the SophIA platform and a September 2025 sovereign AI ecosystem address data residency, privacy, and auditability.

NECS integrates five local data centers with public cloud partners to offer an alternative to hyperscaler-only models.

Outlook

If NRB executes a reference-led expansion, scales nearshore capacity, and simplifies its group offering, the NRB strategy can leverage Belgian strengths to create a differentiated European presence.

 

Recommended advisory: PAC Leadership Session – AI in Business Transformation

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Sidney Siegertsz

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