ACTIVE

SPG Dry Cooling Belgium

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Financial year 2026 · Closed on 31/03/2026

Net result12,1 M €+183,7 %over 1 year
Revenue85,2 M €+6,0 %over 1 year
Equity24,1 M €+48,8 %over 1 year
Workforce59,8 ETP+5,3 %over 1 year

Identity

Source · BCE/KBO

SPG Dry Cooling Belgium is a Private limited company incorporated in 2003. Its main activity is: Wholesale of machinery for the textile industry and of sewing and knitting machines. Its registered office is in Woluwe-Saint-Lambert. It employs on average 59,8 ETP workers (FTE).

Legal situation
Normal situation
BCE/KBO no. / VAT
BE 0862.198.455
Incorporation
15/12/2003
Legal form
Private limited company
Registered office
Avenue Ariane 5
1200 Woluwe-Saint-Lambert · BruxellesSee on map
Contributed capital
31 068 723,44 €
Latest accounts
31/03/2026
Average workforce
59,8 ETP
Joint committees (4)
  • 200
  • 209
  • 218
  • 219
Signals
ProfitableLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debtsHigh revenue

Financials

Source · NBB, 22 filings

Trend over 19 financial years

20262025202420232022
Income statement
Revenue85,2 M €80,4 M €187 M €67,8 M €144,2 M €
EBITDA15 M €7,1 M €10,6 M €4 M €-11,9 M €
Operating result14 M €5,5 M €5 M €1,9 M €-14 M €
Net result12,1 M €4,2 M €3,2 M €-531,1 k €-15,8 M €
Balance sheet
Equity24,1 M €16,2 M €13,1 M €10 M €-9,1 M €
Total assets103,6 M €78,7 M €93,3 M €191,5 M €155,5 M €
Cash15,7 M €7,7 M €3,1 M €1,1 M €526,3 k €
Debts76,8 M €58,7 M €75,9 M €180,9 M €164 M €
Other
Workforce59,8 ETP56,8 ETP55,9 ETP55,6 ETP55,2 ETP

Valuation

Indicative valuation

As an indication, this company is worth

between 100 M€ and 250 M€
See the valuation

Board of directors

Source · NBB, accounts to 31/03/2026

5 active · 42 ended

Active mandates

Mahima SWARUP

Director · since 19 juin 2024

Active
Gaurav Swarup

Managing director · since 01 octobre 2021

Active
Arun SINGHANIA

Director · since 29 novembre 2019

Active
Siddhartt SWARUP

Director · since 29 novembre 2019

Active
Vineet ROHATGI

Director · since 29 novembre 2019

Active

Ended mandates

Guarav Swarup

Managing director · since 01 octobre 2021

Ended
AGCI

Director · since 01 novembre 2019 · until 30 septembre 2021 · 0736.527.334

Represented by Andreas Coumnas

Ended
AGCI

Director · since 01 novembre 2019 · 0736.527.334

Represented by Andreas Coumnas

Ended
Siddharth Swarup

Manager · since 18 avril 2017

Ended

Other companies at this address

Avenue Ariane 5 1200 Woluwe-Saint-Lambert
CompanyCBE no.
Association des Membres d'Intégrale● Active
0655.868.171
BIOMEDICAL DISTRIBUTION BELGIUM● Active
0724.560.504
CENTRE D'ANATOMIE PATHOLOGIQUE et de CYTOLOGIE● Active
0426.715.866
ENTREMONT BENELUX● Active
0424.939.182
PAN AND PRO EUROPE● Active
0839.680.005
RADIOLOGIE BRAEKEVELD MB● Active
0650.546.039
RAINBOWCOM● Active
0550.987.417
SARTORIUS BELGIUM● Active
0456.749.937
SARTORIUS STEDIM BELGIUM● Active
0888.466.946
Sewan Belgium● Active
0440.985.457
STEEL FOR PACKAGING EUROPE● Active
0480.186.424
UPS EUROPE● Active
0458.890.865
WILFRID REIX● Active
0463.912.594

Full financial information

Source · NBB
202620252024202320222021
Type of accountFull modelFull modelFull modelFull modelFull modelFull model
Start of the financial year01/04/202501/04/202401/04/202301/04/202201/04/202101/04/2020
Closing of the financial year31/03/202631/03/202531/03/202431/03/202331/03/202231/03/2021
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date26/06/202620/06/202516/07/202417/07/202302/09/202227/10/2021
General meeting18/06/202613/06/202519/06/202430/06/202310/08/202226/10/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 22 filings
ModelClosingGeneral meetingFiledLanguageDocument
Full model31/03/202618/06/202626/06/2026FrenchPDF
Full model31/03/202513/06/202520/06/2025EnglishPDF
Full model31/03/202513/06/202517/06/2025FrenchPDF
Full model31/03/202419/06/202416/07/2024FrenchPDF
Full model31/03/202330/06/202317/07/2023FrenchPDF
Full model31/03/202210/08/202202/09/2022FrenchPDF
Full model31/03/202126/10/202127/10/2021FrenchPDF
Full model31/03/202027/11/202030/11/2020FrenchPDF
Full model31/12/201828/06/201924/07/2019FrenchPDF
Full model31/12/201729/06/201820/07/2018FrenchPDF
Full model31/12/201628/06/201713/07/2017FrenchPDF
Full modelCorrection31/12/201529/06/201623/09/2016FrenchPDF
Full model31/12/201529/06/201615/07/2016FrenchPDF
Full model31/12/201430/06/201507/07/2015FrenchPDF
Full model31/12/201327/06/201404/07/2014FrenchPDF
Full model31/12/201228/06/201331/07/2013FrenchPDF
Full model31/12/201129/06/201210/07/2012FrenchPDF
Full model31/12/201030/06/201125/07/2011FrenchPDF
Full model31/12/200930/06/201015/07/2010FrenchPDF
Full model31/12/200830/06/200927/07/2009FrenchPDF
Full model31/12/200725/06/200808/07/2008FrenchPDF
Full model31/12/200627/06/200712/07/2007FrenchPDF

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 100 M€ and 250 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan
Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Board of directors

Source · NBB, accounts to 31/03/2026

5 active · 42 ended

Active mandates

Mahima SWARUP

Director · since 19 juin 2024

Active
Gaurav Swarup

Managing director · since 01 octobre 2021

Active
Arun SINGHANIA

Director · since 29 novembre 2019

Active
Siddhartt SWARUP

Director · since 29 novembre 2019

Active
Vineet ROHATGI

Director · since 29 novembre 2019

Active

Ended mandates

Guarav Swarup

Managing director · since 01 octobre 2021

Ended
AGCI

Director · since 01 novembre 2019 · until 30 septembre 2021 · 0736.527.334

Represented by Andreas Coumnas

Ended
AGCI

Director · since 01 novembre 2019 · 0736.527.334

Represented by Andreas Coumnas

Ended
Siddharth Swarup

Manager · since 18 avril 2017

Ended

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette
  • Mandates21/10/2025
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates26/08/2024
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates19/01/2023
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates04/01/2023
    DEMISSIONS, NOMINATIONS
    PDF
  • Other19/08/2022
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …)
    PDF
  • Other09/08/2022
    STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …)
    PDF
  • Mandates01/03/2022
    DEMISSIONS, NOMINATIONS
    PDF
  • Other11/02/2022
    DIVERS
    PDF

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

  1. 2026
    Annual accounts 202612,1 M €↑
  2. 2025
    Annual accounts 20254,2 M €↑
  3. 24/03/2025
    nominationGaurav Swarup — administrateur délégué
  4. 24/03/2025
    reconductionTorsten Andersch — vice-président exécutif
  5. 24/03/2025
    nominationMahima Swarup — Administrateur
  6. 24/03/2025
    reconductionOlivier Homans — Directeur Financier
  7. 19/06/2024
    nominationMahima Swarup — membre du Conseil d'administration
  8. 2024
    Annual accounts 20243,2 M €↑
  9. 2023
    Annual accounts 2023-531,1 k €↑
  10. 16/12/2022
    nominationGRANT THORNTON REVISEURS D'ENTREPRISES SCRL — commissaire
  11. 2022
    Annual accounts 2022-15,8 M €↓
  12. 2021
    Annual accounts 2021413,1 k €↑
  13. 2020
    Annual accounts 2020-6,2 M €↓
  14. 2020
    Name changeSPG Dry Cooling Belgium
  15. 2017
    Annual accounts 2017273,9 k €↑
  16. 2016
    Annual accounts 2016-706,1 k €↑
  17. 2015
    Annual accounts 2015-10 M €↓
  18. 2015
    Name changeSPX DRY COOLING BELGIUM
  19. 2014
    Annual accounts 2014-4,9 M €↓
  20. 2013
    Annual accounts 2013-4,1 M €↑
  21. 2012
    Annual accounts 2012-4,7 M €↓
  22. 2011
    Annual accounts 20111,3 M €↓
  23. 2010
    Annual accounts 20103,7 M €↑
  24. 2009
    Annual accounts 20092,9 M €↓
  25. 2008
    Annual accounts 20083,5 M €↓
  26. 2007
    Annual accounts 20075,4 M €↑
  27. 2006
    Annual accounts 20061,1 M €
  28. 2006
    Name changeSPX COOLING TECHNOLOGIES BELGIUM
  29. 15/12/2003
    IncorporationPrivate limited company