Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Busy address KBO
12 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2026
SPG Dry Cooling Belgium from Sint-Lambrechts-Woluwe, company number BE0862198455, closed financial year 2026 with a result of € 12.1 million after tax. For that financial year SPG Dry Cooling Belgium recorded revenue of € 85.2 million and equity of € 24.1 million. Compared with financial year 2025, the result moved from € 4.2 million to € 12.1 million. Profitable, and profit is growing. The buffer is growing. Debts are under control. The most recent annual accounts were filed with the National Bank of Belgium on June 26, 2026.
€ 24.1 million
▲ 49% vs 2025
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 12.1 million
▲ 184% vs 2025
Profit after tax over the fiscal year.
€ 15.7 million
▲ 103% vs 2025
Cash and bank balances on the last day of the fiscal year.
€ 4 million paid out
33 % of the profit went to the shareholders, mostly to Paharpur Cooling Technologies (Singapore) PTE Limited (100 % of the shares). That is where the money ends up.
People and assets in 2026
59.8
▲ 3 vs 2025
Average over the fiscal year, from the social balance sheet.
€ 9.9 million
▼ 3% vs 2025
€ 166,000 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 1,276
▼ 55% vs 2025
Book value of vehicles, furniture and equipment.
Debts at end 2026
None
No bank loans on the last day of the fiscal year.
€ 25.5 million
▲ 10% vs 2025
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 161 days on average.
€ 3.5 million
▼ 30% vs 2025
Taxes, VAT and social contributions still to pay.
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| 2023 | 2024 | 2025 | 2026 | Change 2025 → 2026 | |
|---|---|---|---|---|---|
| Revenue | € 67,847,853 | € 186,965,430 | € 80,429,277 | € 85,245,461 | ▲ 6% |
| Profit after taxes | € -531,131 | € 3,224,169 | € 4,248,485 | € 12,052,109 | ▲ 184% |
| Equity | € 9,952,140 | € 13,094,116 | € 16,200,986 | € 24,111,480 | ▲ 49% |
| Total debts | € 180,888,907 | € 75,897,984 | € 58,682,388 | € 76,793,636 | ▲ 31% |
| Cash | € 1,134,017 | € 3,085,603 | € 7,728,981 | € 15,684,880 | ▲ 103% |
| Retained profit | € -21,774,295 | € -18,550,126 | € -15,301,641 | € -7,249,533 | ▲ € 8.1 million |
| Dividend | € 0 | € 0 | € 1,000,000 | € 4,000,000 | ▲ 300% |
| Bank debt | € 13,316,155 | € 4,633,233 | € 0 | € 0 | |
| Balance sheet total | € 191,505,741 | € 93,276,366 | € 78,690,374 | € 103,632,182 | ▲ 32% |
| Employees (FTE) | 55.6 | 55.9 | 56.8 | 59.8 | ▲ 3 |
Key figures of SPG Dry Cooling Belgium, fiscal years 2023 to 2026, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2027) expected before 31 October 2027.
What happened to SPG Dry Cooling Belgium?
What happened at SPG Dry Cooling Belgium in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2026: profit of € 12.1 million (▲ 184% vs 2025). Source: NBB ↗
- Mahima SWARUP became a director. NBB
- Gaurav Swarup became a director. NBB
- Siddhartt SWARUP became a director. NBB
- Arun SINGHANIA became a director. NBB
- Vineet ROHATGI became a director. NBB
- New establishment in Sint-Lambrechts-Woluwe. KBO
- Start of the company according to the CBE. KBO
In short
From € 531,131 loss in 2023 to € 12.1 million profit in 2026.
Paid € 613,922 in corporate taxes since 2023.
Best year ever: 2026, with € 12.1 million profit.
Paid out € 5 million in dividends to the owners in total.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
Behind SPG Dry Cooling Belgium are Siddhartt SWARUP, Gaurav Swarup, Arun SINGHANIA, Vineet ROHATGI and Mahima SWARUP. The shares are held by Paharpur Cooling Technologies (Singapore) PTE Limited (100%). It owns 100% of SPG DRY COOLING US LLC itself.
Directors
According to the 2026 annual accounts
Siddhartt SWARUP
Director
since 2019
Gaurav Swarup
Managing director
since 2021
Arun SINGHANIA
Director
since 2019
Vineet ROHATGI
Director
since 2019
Mahima SWARUP
Director
since 2024
Shareholders
Paharpur Cooling Technologies (Singapore) PTE Limited
100%
Participations
SPG DRY COOLING US LLC
100%
Establishments
Establishment units
Physical locations of this company
Arianelaan 5
1200 Sint-Lambrechts-Woluwe
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 12 companies are registered at this address.
All companies at this address →ENTREMONT BENELUX
€ 2.1 million gross margin · 2023
CENTRE D'ANATOMIE PATHOLOGIQUE et de CYTOLOGIE
€ 1.2 million gross margin · 2025
Sewan Belgium
€ 9.7 million revenue · 2025
SARTORIUS BELGIUM
€ 3.6 million revenue · 2025
UPS EUROPE
€ 592 million revenue · 2024
+7 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0862.198.455
- VAT number
- BE 0862.198.455
- Registered office
- Arianelaan 5, 1200 Sint-Lambrechts-Woluwe
- Names & denominations
- SPG Dry Cooling Belgium
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 15 December 2003
- Peppol
- Active · Active since 1 Jan 2001
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