BitaGreen
ActiveSummary
BitaGreen has been active since 2022 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €66,917 and a net result of €197,982, of which €129,780 non-recurring income. Equity has been growing by about 9% per year since 2022. Its solvency ranks better than 25% of 11,783 sector peers (NACE 71, financial year 2025). The computed 12-month bankruptcy probability is 0.5% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 23-03-2022 Normal situation
- Activity
- Other technical testing and analysis NACE 71209and 5 others
- Joint committee
- 200 Auxiliary committee for white-collar workers · annual accounts 2025
- Establishment units
- 2.331.148.639 2200 Herentals, since 23-03-2022
- 2.386.699.747 1050 Ixelles, since 01-01-2026
- Financial year end
- 31 December
- Peppol
- Reachable since 12-02-2026
Board and ownership
- VAN CAUWENBERGH Nora Johanna MarthaDirector · since 23-03-2022
- VAN CAUWENBERGH Nora Johanna Martha50 sharesdeed of 25-03-2022
- REZAZADEH HELMI Nahad50 sharesdeed of 25-03-2022
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.5%
- Gross margin
- €328,459
- Turnover
- ≈ €800,000
- estimated
- Profit
- €197,982
- Equity
- €66,917
- Total assets
- €264,419
- ▲ 184%
- Employees on 31-12-2025
- 2
- =
- 2025 accounts filed 45 days after the deadline
Score breakdownraises riskLast filed accounts filed 45 days late; 1 of the last 3 accounts lateFounded in 20222 establishment unitslowers riskSector: Architectural and engineering activities; technical testing and analysis (NACE 71)Show the evidence
Checked score
About 5 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
Calculation
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 71, micro). It does better than 26% of them on solvency, 42% on liquidity, 88% on profitability and 94% on growth.
The bankruptcy probability was computed on 04-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-12-2025.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
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The scores and ratios are Checked's own calculations, not a credit decision.
Signals
The company filed its last 4 accounts on average 19 days after the deadline. In the sector (NACE 71), the median for financial year 2024 was 8 days before the deadline, and 34% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
2025 annual accounts filed 45 days after the deadline Filed on 14 September 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00513407.
Annual accounts 2025 filed on 14-09-2026 at the NBB all 4 filings
Every figure per financial year
The operating result for 2025 is a profit of €198,265, after a loss of €181,681 in 2024. It is the highest result since 2022.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Staff
| Item | 31-12-2024 | 31-12-2025 |
|---|---|---|
| Employees at the balance-sheet date | 2 | 2 |
| full-time | 2 | 2 |
| in full-time equivalents | 2 | 2 |
| Average over the year, in full-time equivalents | 1.3 | 2.8 |
| On a permanent contract | 1 | - |
| Joined | 2 | 2 |
| Left | 0 | 2 |
Source: social balance sheet in the 2024 to 2025 annual accounts
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | €656 | €4,356 |
| Intangible fixed assets | €22,931 | €13,890 | - | - |
| Depreciation and write-downs of the year | €2,254 | €7,518 | €9,126 | €10,332 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2023 · 2 entries · €50,000 awarded · €50,000 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2023 | 1 | €0 | €25,000 |
| 2022 | 1 | €50,000 | €25,000 |
European research
1 project · €126,543 EU contributionPublic contracts
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. The values are as the buyer published them. For a framework agreement, the value is a ceiling.
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €129,780 | - |
| Remuneration, social security and pensions62 | - | - | €47,418 | €119,383 | ▲ 152% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,254 | €7,518 | €9,126 | €10,332 | ▲ 13.2% |
| Other operating charges640/8 | - | - | €118 | €479 | ▲ 306% |
| Gross operating margin9900 | €36,238 | €5,315 | -€125,019 | €328,459 | - |
| Operating profit (loss)9901 | €33,984 | -€2,203 | -€181,681 | €198,265 | - |
| Financial income75/76B | €25 | €0 | €0 | €7 | ▲ 723× |
| Recurring financial income75 | €25 | €0 | €0 | €7 | ▲ 723× |
| Financial charges65/66B | €89 | - | €292 | €290 | ▼ 0.8% |
| Recurring financial charges65 | €89 | - | €292 | €290 | ▼ 0.8% |
| Profit (loss) for the period before taxes9903 | €33,920 | -€2,203 | -€181,973 | €197,982 | - |
| Income taxes67/77 | €2,250 | -€1,441 | - | - | - |
| Profit (loss) for the period9904 | €31,670 | -€762 | -€181,973 | €197,982 | - |
| Profit (loss) for the period to be appropriated9905 | €31,670 | -€762 | -€181,973 | €197,982 | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €61,773 | €58,924 | €92,942 | €264,419 | ▲ 184% |
| Fixed assets21/28 | €20,677 | €27,049 | €18,580 | €12,604 | ▼ 32.2% |
| Intangible fixed assets21 | €20,677 | €27,049 | €18,025 | €9,001 | ▼ 50.1% |
| Tangible fixed assets22/27 | - | - | €555 | €3,603 | ▲ 550% |
| Furniture and vehicles24 | - | - | €555 | €3,603 | ▲ 550% |
| Current assets29/58 | €41,096 | €31,875 | €74,362 | €251,815 | ▲ 239% |
| Amounts receivable within one year40/41 | €1,213 | €236 | €44,321 | €234,320 | ▲ 429% |
| Trade receivables40 | - | - | €40,013 | €222,832 | ▲ 457% |
| Other amounts receivable41 | €1,213 | €236 | €4,308 | €11,488 | ▲ 167% |
| Cash at bank and in hand54/58 | €39,883 | €31,064 | €30,041 | €17,495 | ▼ 41.8% |
| Deferred charges and accrued income490/1 | - | €575 | - | - | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €61,773 | €58,924 | €92,942 | €264,419 | ▲ 184% |
| Equity10/15 | €51,670 | €50,908 | -€131,065 | €66,917 | - |
| Contributions10/11 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | - | - | - | €46,917 | - |
| Distributable reserves133 | - | - | - | €46,917 | - |
| Profit (loss) carried forward14 | €31,670 | €30,908 | -€151,065 | - | - |
| Amounts payable17/49 | €10,103 | €8,016 | €224,006 | €197,502 | ▼ 11.8% |
| Amounts payable after more than one year17 | - | - | €214,007 | €150,000 | ▼ 29.9% |
| Financial debts170/4 | - | - | €214,007 | €150,000 | ▼ 29.9% |
| Amounts payable within one year42/48 | €2,250 | €7,536 | €8,349 | €33,038 | ▲ 296% |
| Trade debts44 | - | €5,380 | €6,417 | €27,923 | ▲ 335% |
| Suppliers440/4 | - | €5,380 | €6,417 | €27,923 | ▲ 335% |
| Taxes, remuneration and social security45 | €2,250 | €2,156 | €1,932 | €5,115 | ▲ 165% |
| Taxes450/3 | €2,250 | €2,156 | €1,534 | €4,813 | ▲ 214% |
| Remuneration and social security454/9 | - | - | €398 | €302 | ▼ 24.2% |
| Accrued charges and deferred income492/3 | €7,853 | €480 | €1,650 | €14,464 | ▲ 777% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €31,670 | -€762 | -€181,973 | €197,982 | - |
| + Depreciation and write-downs630 | €2,254 | €7,518 | €9,126 | €10,332 | ▲ 13.2% |
| Operating cash flow (approximation) | €33,924 | €6,756 | -€172,847 | €208,314 | - |
| Investment in fixed assets (approximation) | - | -€13,890 | -€656 | -€4,356 | ▼ 564% |
| Change in cash | - | -€8,819 | -€1,023 | -€12,546 | ▼ 1,126% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 7,976 companies had the same profile as BitaGreen has now. Two years later, 94.4% were still going and 3.6% had gone bankrupt.
- Micro
- 2 to 5 years old
- solvency 10 to 30%
- a profit of 5% of the balance sheet or more
Another 0.3% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of BitaGreen itself is lower: 0.5% within 12 months. It rests on far more data about BitaGreen than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 7,976 companies, not a prediction for BitaGreen. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Board & ownership
Directors
Owners and capital
Shareholders
- VAN CAUWENBERGH Nora Johanna Martha 50 shares (50%) · €10,000
- REZAZADEH HELMI Nahad 50 shares (50%) · €10,000
Capital transactions
- 25-03-2022 Incorporation · €20,000 · 100 shares
Mandate history
- Board
| Name | Functions and periods |
|---|---|
| VAN CAUWENBERGH Nora Johanna Martha |
|
| REZAZADEH HELMI Nahad |
|
Articles of association
- Statutory auditorA statutory auditor is a registered auditor who checks the annual accounts. Small companies need not have one. According to the deed, the legal criteria do not require one here.
- No statutory auditor
Articles of association, deed of 25-03-2022 (in Dutch)
Network & group
BitaGreen shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of BitaGreen. Every other company they run is a node.
Timeline
Deeds, filings and financial milestones
14-07
Gazette deed
Resignation: Nahad REZAZADEH HELMI (director)Director discharge: Nahad REZAZADEH HELMI3 points ▸
- General meeting, 24-06-2025
- Director resignation, Nahad REZAZADEH HELMI
- Director discharge, Nahad REZAZADEH HELMI
- The deed holds 1 more point.
30-06
Gazette deed
Registered office moved from Heverlee to HerentalsNew registered office: Nederrij 44a, 2200 Herentals · Previous registered office: Hoveniersdreef 37, 3001 Heverlee3 points ▸
- Board meeting, 06-04-2023
- Registered-office move, Nederrij 44a, 2200 Herentals
- Director in office, Nora Van Cauwenbergh
25-03
Gazette deed
IncorporationFounding capital of €20,000, 100 shares · Founders: VAN CAUWENBERGH Nora Johanna Martha and REZAZADEH HELMI Nahad · Appointments: VAN CAUWENBERGH Nora Johanna Martha (director) and REZAZADEH HELMI Nahad (director)7 points ▸
- Founder, VAN CAUWENBERGH Nora Johanna Martha
- Founder, REZAZADEH HELMI Nahad
- Founding capital, €20,000, 100 shares
- Registered office clause, Hoveniersdreef 37, 3001 Leuven (Heverlee)
- Board rule, 2
- Director appointment, VAN CAUWENBERGH Nora Johanna Martha
- Director appointment, REZAZADEH HELMI Nahad
- The deed holds 4 more points.
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
On 23 March 2022, BitaGreen was incorporated as a private limited company by two natural persons, with a starting capital of €20,000.12 In 2023 the registered office moved to Herentals.3 VAN CAUWENBERGH Nora Johanna Martha has served as director since 2022.4 Total assets went from €61,773 in 2022 to €264,419 in 2025.5
Company details
Register details
Identity
KBO recordRegistered office and establishments
1 former office
- 3001 Heverlee until 01-05-2023 · deed of 30-06-2023
Activities
NACEBEL 2025Codes under NACEBEL 2008
23 activities
- Het uitvoeren van opdrachten die kaderen in de disciplines van de klimaat- en milieutechnologie en ruimtelijke ontwikkeling (e.g. bio-ingenieur, waterbouwkundig ingenieur, software-ingenieur, ingenieur architect, landschapsarchitect, landbouwingenieur, bioloog, socioloog, antropoloog etc.);
- Het ontwikkelen van hydrologische, hydraulische, milieu en welzijn modellen, analyses en kaarten ter ondersteuning van gemeenten, verzekeraars, projectontwikkelaars en investeerders in stedelijke en landelijke omgeving;
- De uitwerking van kosten-baten analyses van groene, grijze en menselijke infrastructuur ter bestrijding van de risico’s verbonden aan de klimaatverandering;
- Het uitwerken van data onderhoud en verwerking op basis van artificiële intelligentie, machine learning en cloud computing;
- Lease en verkoop van software as a service (SaaS) met bijhorende technische support;
- Ontwikkeling van software producten die kaderen in de disciplines van de klimaat- en milieutechnologie;
- Het faciliteren en adviseren van investeringsprojecten in groene infrastructuur;
- Het ondersteunen van publieke en private partijen in het reduceren van de koolstof afdruk en algemene impact op het milieu;
- Ingenieurs en aanverwante technische adviezen, de uitwerking en realisatie van projecten op het gebied van de stedelijke ontwikkeling, de landbouw, de mijnbouw, de chemie, de machine- en werktuigbouw, de industriële systeemontwikkeling, de groene infrastructuur, de veiligheid en vormgeving;
- De uitwerking van projecten op het gebied van klimaatbeheersing, koeltechniek, zuivering en voorkomen van pollutie, akoestiek;
- Geologisch onderzoek en prospectie: metingen en waarnemingen van het aardoppervlakte om informatie te verkrijgen over aardstructuren en aanwezigheid van aardolie, aardgas, mineralen en grondwater;
- Geodetisch onderzoek: hydrografisch onderzoek, onderzoek van de bodemstructuur, grensonderzoek, cartografie en informatie over ruimtelijke ordening, inclusief luchtfotografie, sensors, crowdsourcing enz.;
- Aardobservatie – het verzamelen, verwerken en verkopen van data die met satelliet, drones of (crowdsourcing en andere) sensors zijn opgenomen;
- Activiteiten van bouweconomisten;
- Overig speur- en ontwikkelingswerk op natuurwetenschappelijk gebied;
- Overige gespecialiseerde wetenschappelijke en technische activiteiten;
- Lease van intellectuele eigendom en vergelijkbare producten, met uitzondering van werken onder auteursrecht;
- Onderwijsondersteunende activiteiten;
- Verlenen van advies en praktische hulp aan de bedrijven i.v.m. public relations en communicatie;
- Berekenen van de kosten en baten van de voorgestelde maatregelen op het gebied van het beheer, zoals de agronomen en landbouweconomen ten behoeve van landbouwbedrijven enz.;
- Exploitatie van en handel in onroerend goed;
- Het verrichten van alle handelingen welke rechtstreeks of onrechtstreeks in verband staan met haar voorwerp;
- Het nemen van participaties onder welke vorm ook, en het deelnemen aan het bestuur van bestaande en nog op te richten vennootschappen of ondernemingen.
Invoicing and payment
Financial year and general meeting
Accounts at the NBBSites & property
Buildings and parcels at the addresses
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 21807G0181/00P000 | Brussels | 1,180 m² | 1 · 1,184 m² | 32.6 m · 6 |
| 13302G0012/00D002 | Flanders | 791 m² | 1 · 111 m² | 12.1 m · 2 |