And why doesn't the Flemish region join The Netherlands, and the Walloon region join France?
Because the Flemish aren't Dutch and the Walloons aren't French. I doubt that the Flemish would like being part of the Netherlands anymore than they did last time round and Wallonia has never been part of France (some of the random meglomaniac periods of French history excepted, obviously).
What's the point of any country? If you want to go back a long way then the answer is, more or less, religious divisions between it and it's northern neighbour.