Skip to content

Bitforge

Active Private limited companyfounded 2017active for 9 yearsPastoor Van Tendeloostraat (Bevel) 8, 2560 NijlenKBO/BCE: BE 0674.954.308
Bitforge
Follow ReportCompare

Overview

Lifetime

9 annual accounts with figures on one time axis
peak €53,305 (2022)
€42,936▲ 50.8%
peak €41,948 (2022)
€29,649▲ 57.9%
peak €59,206 (2023)
€48,249▲ 159%
€64,984▼ 0.9%
Board1 name since 2021
1 directorMike De Swert
Documentsfilings and deeds
30-06-202631 days before the deadline
2025micro format
Gross margin from €28,465 to €42,936Result from €18,778 to €29,649Equity from €18,600 to €48,249Investments €11,359Cash from €47,486 to €85,718

Key points

from the 2025 annual accounts

Equity

€48,249 ▲ 159%

Bitforge has made a profit in every financial year since 2017.

Investments

€11,359 3.1 × depreciation
2021202220242025

Green is investment, beige is depreciation.

Filings

9 annual accounts since 2017
AprilJune31 JulyOctober20202025

The last five annual accounts were filed 27 to 47 days before the end of the period.

Checked score

96
Excellent
Financially stronger than 67% of micro companies in computer programming and consultancy (NACE 62)
Probability in this band: under 0.55%
Bankruptcy probability within 12 months
< 0.1% Very low
0%0.5%1.5%4%10%≥ 25%

The dashed line is the sector median: 0.1% across 25,932 companies (NACE 62, micro).

Fewer than 1 in 1,000 comparable companies go bankrupt within 12 months (an estimate).

Last 24 months 12-2024: < 0.1% 01-2025: < 0.1%● unchanged vs 12-2024lowest value 02-2025: < 0.1%● unchanged vs 01-2025 03-2025: < 0.1%● unchanged vs 02-2025 04-2025: < 0.1%● unchanged vs 03-2025 05-2025: < 0.1%● unchanged vs 04-2025 06-2025: < 0.1%● unchanged vs 05-2025 07-2025: < 0.1%● unchanged vs 06-2025 08-2025: < 0.1%● unchanged vs 07-2025 09-2025: < 0.1%● unchanged vs 08-2025 10-2025: < 0.1%● unchanged vs 09-2025 11-2025: < 0.1%● unchanged vs 10-2025 12-2025: < 0.1%● unchanged vs 11-2025 01-2026: < 0.1%● unchanged vs 12-2025 02-2026: < 0.1%● unchanged vs 01-2026 03-2026: < 0.1%● unchanged vs 02-2026 04-2026: < 0.1%● unchanged vs 03-2026 05-2026: < 0.1%● unchanged vs 04-2026 06-2026: < 0.1%● unchanged vs 05-2026 07-2026: < 0.1%● unchanged vs 06-2026 08-2026: 0.1%▲ +0.1 percentage points vs 07-2026 09-2026: 0.1%● unchanged vs 08-2026highest value 10-2026: < 0.1%▼ -0.1 percentage points vs 09-2026 11-2026: < 0.1%● unchanged vs 10-2026

Financial strength
Strong

68+21equity 42.6% of total assets
71+13short-term debt 57.1% · cash 75.7%
100+3return on assets 26.2%

Score breakdown

lowers risk
Sector: Computer programming, consultancy and related activities (NACE 62)
Liquidity: current ratio 1.45, cash €85,718
Size: total assets €113,233
Equity €48,249 (42.6% of total assets)
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 62, micro). It does better than 37% of them on solvency, 54% on liquidity, 82% on profitability and 94% on growth.

The bankruptcy probability was computed on 09-11-2026 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).

Comparable companies, two years later

In July 2024, 26,972 companies had the same profile as Bitforge has now. Each dot stands for 68 companies, two years later.

94.9%
were still trading
3.4%
stopped another way
1.6%
went bankrupt
  • Micro
  • 5 to 10 years old
  • solvency 30% or more
  • a profit of 5% of the balance sheet or more

Another 0.1% stopped without a precise date, possibly only after those two years.

The bankruptcy probability of Bitforge itself is lower: < 0.1% within 12 months. It rests on far more data about Bitforge than the profile alone.

Test of the method

The method was tested on the 497,447 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.

The companies in ten equal groups, from the lowest to the highest expected share
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 26,972 companies, not a prediction for Bitforge. 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.

Credit verdict

Credit of up to €4,500 on 30-day terms is acceptable

Liquidity is tight, with a current ratio of 1.45 (1.1 in 2024), below the usual 1.5. Short-term debt is 57.1% and cash 75.7% of total assets. 57.4% of the assets are financed with debt and provisions.

Credit check for an amount and term of your choice

Show the recommended maximum and see how the verdict changes with amount, term and advance.

The scores and ratios are Checked's own calculations, not a credit decision.

Signals

5 signals, none raises the risk
Five signals.
lowers riskneutral
lowers risk · Sector: Computer programming, consultancy and related activities (NACE 62)
KBO
lowers risk · Liquidity: current ratio 1.45, cash €85,718
NBB · annual accounts
lowers risk · Size: total assets €113,233
Companies of this size fail less often. How much that weighs depends on the rest of the company's profile.
NBB · annual accounts
lowers risk · Equity €48,249 (42.6% of total assets)
NBB · annual accounts
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 30-06-2026, 31 days ahead of the deadline.
NBB · 9 filings
Deviation from the deadline
2025
31 days early
2024
43 days early
2023
27 days early
2022
47 days early
2021
47 days early
2020
38 days early
2019
7 days early
← before the deadline after the deadline →
tick = median of all Belgian filingsring = median in the sector

The company filed its last 7 accounts on average 34 days before the deadline. In the sector (NACE 62), the median for financial year 2024 was 9 days before the deadline, and 33% of those companies filed late.

Searched, nothing found (2)
neutral · Next filing not due yet
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today. The company usually files around 18 June (5 of the last 5 accounts filed within 30 days either side of that date).
Companies Code · seven months
Where today falls in the filing period
10-11-2026 today31-12-2026 year end31-07-2027 deadline
neutral · No strike-offs in the KBO publications
That holds for every publication since 2021.
KBO publications

Board and ownership

MD
Mike De Swert
Director
Board & ownership

Recent changes

Registered in the Peppol Directory Reachable for e-invoices through 0208:0674954308
Appointment: Mike De Swert (director) General meeting of 23-11-2022 · Gazette deed
Registered office moved from Boechout to Bevel New registered office: Pastoor van Tendeloostraat 8 te 2560 Bevel · Previous registered office: Hovesesteenweg 5/3 te 2530 Boechout · General meeting of 10-06-2018 · Gazette deed
Incorporation published on 03-05-2017 · Gazette deed
All 16 events

Comparable companies

same main activity, similar in size and age
Company
Bitforge Nijlen €113,233 €42,936 42.6% -
HADES SERVICES Lier €105,475 €42,040 56.6% -
LGneering Schoten €124,528 €42,916 76.1% -
Verhagen Consultancy Kasterlee €112,399 €47,102 83.5% -
ESQI Zoersel €104,625 €41,005 80.8% -
Culsans IT consulting Mechelen €113,767 €46,325 64.9% -
IT FABRIC Ninove €106,812 €42,403 78.2% -

These companies have the same main activity as Bitforge: computer consultancy and computer facilities management (NACE 62200). They are comparable in size and age: total assets between €105,000 and €125,000, founded between 2016 and 2018.

Official details

Source: KBO
Status
Active since 28-04-2017Normal situation
Activity
Computer consultancy and computer facilities managementNACE 62200and 1 other
Establishment unit
2.264.087.5892560 Nijlen, since 28-04-2017
Financial year end
31 December
Peppol
Reachable since 24-11-2023
Company details

Annual accounts 2025

€42,936▲ 50.8%
≈ €140,000estimated
€29,649▲ 57.9%
€48,249▲ 159%
€113,233▲ 34.5%
Filing
Filed on 30-06-2026, 31 days before the end of the filing period
Financials

Insights on Bitforge

Bitforge files the micro format. That format states no turnover. The gross margin rose from €3,572 in 2017 to €42,936 in 2025.

Sources: KBO register, filings at the National Bank, Belgian Official Gazette.

Financials

Annual accounts 2025

micro format, filed on 30-06-2026, 31 days before the deadline
€42,936
▲ 50.8%
€39,080
▲ 54.2%
€29,649
▲ 57.9%
€28,927
▲ 323%
42.6%
▲ 20.5 percentage points
1.45
▲ 0.34

Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.

Turnover ≈ €140,000. Estimated: probably between €120,000 and €200,000.

Balance sheet

balance sheet total €113,233 on 31-12-2025
What the company ownsHow it is paid for

in euro

in euro

Position in the sector

Compare with sector

42.6%

Higher than 36% of 21,208 companies in 2025.

1.45

Higher than 32% of 20,571 companies in 2025.

26.2%

Higher than 62% of 20,746 companies in 2025.

Bitforge Middle half of the sector 80% of the sector Micro accounts in computer programming and consultancy (NACE 62)

Net result: middle half · Equity: middle half · Balance sheet total: middle half · Working capital: middle half

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend202520242023202220212020201920182017
Balance sheet: assets
20/58 113,23384,17268,05194,98887,78771,92869,87145,17720,428
21/28 19,67211,9776,80910,37211,8707,1827,3973,292-
22/27 19,67211,9776,80910,37211,8707,1827,3973,292-
23 7,3738,5841,5931,993-----
24 6332,1423,6525,7688,2132,4781,6463,292-
26 11,6661,2511,5642,6113,6584,7045,751--
29/58 93,56172,19561,24284,61675,91664,74662,47441,88520,428
40/41 1,26120,67014,21125,62212,39010,49310,01511,18110,454
40 40019,36012,31825,62212,3909,1489,80111,17810,454
41 8611,3101,894--1,3452143-
54/58 85,71847,48643,12754,16160,91951,95945,32928,8358,721
490/1 6,5824,0383,9044,8342,6072,2957,1301,8701,253
Balance sheet: equity and liabilities
10/49 113,23384,17268,05194,98887,78771,92869,87145,17720,428
10/15 48,24918,60059,20641,21941,21945,45050,49932,28913,503
10/11 18,60018,60018,60018,60018,60018,60012,40012,40012,400
100 ------18,60018,60018,600
101 ------6,2006,2006,200
13 --40,60622,61922,61926,85038,09919,8891,103
130/1 ----1,8601,860---
130 ------1,8601,8601,103
1311 ----1,8601,860---
133 --40,60622,61920,75924,99036,23918,028-
14 29,649--------
17/49 64,98465,5728,84553,76946,56826,47819,37212,8896,925
42/48 64,63565,3608,84553,76946,56826,47819,37212,8896,925
43 5555-----
430/8 5555-----
44 4,2611,2441,4801,6961,0299359,2415,2473,590
440/4 4,2611,2441,4801,6961,0299359,2415,2473,590
45 1,9761,7182,6015,0102,7581,8295,7261,4692,174
450/3 1,9761,7182,6015,0102,7581,8295,7261,4692,174
47/48 58,39262,3924,75947,05742,78023,7154,4056,1731,162
492/3 349212-------
Income statement
76A ---7,385-----
9900 42,93628,46546,59753,30549,76546,87127,78627,4143,572
630 3,6652,9403,5633,4982,8593,0212,6931,646-
640/8 19218737398570477310304462
9901 39,08025,33842,99649,40946,33643,37324,78425,4643,110
75/76B -90-0-00-
75 -90-0-00-
65/66B 1,2911,3571,515666670582909820426
65 1,2911,3571,515666670582909820426
9903 37,78923,99141,48148,74445,66642,79123,87524,6432,684
67/77 8,1395,2135,4776,7966,4425,8965,6645,8581,581
9904 29,64918,77836,00441,94839,22436,89518,21018,7851,103
9905 29,64918,77836,00441,94839,22436,89518,21018,7851,103
Appropriation of the result
9906 29,64918,77836,00441,94839,22436,89518,21018,7851,103
791/2 -40,606--24,99030,000---
691/2 --17,987-20,75918,75118,21018,7851,103
6920 -------7571,103
6921 --17,987-20,75918,75118,21018,028-
694/7 -59,38418,01741,94843,45548,144---
694 -59,3841,60023,25524,99030,000---
697 --16,41718,69318,465----
Document PDFPDFPDFPDFPDFPDFPDFPDFPDF

The notes to these accounts have 5 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.

Source: Annual accounts 2025 at the NBB, filed on 30-06-2026.

Download as CSV

Filings

each dot is a set of accounts, on the day it reached the National Bank
Financial year Type Filed Reference Document
31-12-2025 micro format 30-06-2026 2026-00220354 PDF
31-12-2024 micro format 18-06-2025 2025-00162884 PDF
31-12-2023 micro format 04-07-2024 2024-00210780 PDF
31-12-2022 micro format 14-06-2023 2023-00127132 PDF
31-12-2021 micro format 14-06-2022 2022-20072401 PDF
31-12-2020 micro format 23-06-2021 2021-23200166 PDF
31-12-2019 micro format 24-07-2020 2020-34100049 PDF
31-12-2018 micro format 18-07-2019 2019-34600335 PDF
31-12-2017 micro format 24-07-2018 2018-37700549 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend202520242023202220212020201920182017
42,74428,27746,55952,90749,19546,39427,47627,110-
33,31421,71739,56845,44642,08339,91620,90320,432-
11,3598,10809,6147,5472,8066,7984,938-
38,2324,359-11,034-6,7588,9606,63016,49420,114-
28,9276,83552,39830,84729,34938,26843,10228,99713,503
42.6%22.1%87.0%43.4%47.0%63.2%72.3%71.5%66.1%
1.451.106.921.571.632.453.223.252.95
1.353.530.151.301.130.580.380.400.51
61.5%101.0%60.8%101.8%95.2%81.2%36.1%58.2%8.2%
26.2%22.3%52.9%44.2%44.7%51.3%26.1%41.6%5.4%
33.1120.8430.7479.5073.38----

A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.

Investments

fixed assets acquired
Item20252024202320222021
Tangible fixed assets€11,359€8,108-€9,614€7,547
€3,665€2,940€3,563€3,498€2,859

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on Bitforge

The operating result for 2025 is 54% higher than in 2024. It is a recovery after the fall in 2024.

Debt's share of the balance-sheet total falls from 77.9% to 57.4%. Equity is higher and debt is lower.

Board & ownership

Board

1 director, last change in 2022
Mike De Swert
Director
appointed by deed of 13-12-2022 term without a fixed end
listed in the 2025 annual accounts, filed on 30-06-2026
Signing authorityThe articles say who may bind the company, for example by signing a contract.
Each director alone
deed of 13-12-2022

Office holders in the KBO →

Mandates through the years

1 name, the dashed line is today
Mike De Swert
Director
Boardmandate already running before its first mention
Mandates as a list
  • Mike De Swert
    • Director, since before 31-12-2021

See the board, name and registered office on a given date →

Control

See the annual accounts at the National Bank and the publications in the Belgian Official Gazette.

Capital

Contribution
€18,600
Source
2025 annual accounts

Articles of association

deed of 13-12-2022 (in Dutch)
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
Board ruleThese rules set how the board is made up, meets and takes decisions.
At least 1 director
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Second Thursday of June at 18:00

Network & group

No group

Bitforge has no parent and no holdings in its annual accounts. Mike De Swert is the only director. Bitforge shares no director with another company.

Timeline

Timeline

16 events since 2017

Deadline for the 2026 accounts: 31-07-2027

2026
Annual accounts 2025 filed NBBmicro format · 31 days before the deadline
2025
Annual accounts 2024 filed PDFmicro format · 43 days before the deadline
2024
Annual accounts 2023 filed PDFmicro format · 27 days before the deadline
2023
Liquidity more than quadruples current ratio 6.92 The current ratio rises from 1.57 to 6.92. Short-term debt falls from €53,769 to €8,845.
Registered in the Peppol Directory Reachable for e-invoices through 0208:0674954308
Annual accounts 2022 filed PDFmicro format · 47 days before the deadline
2022
Highest result from 2017 to 2025 net €41,948 ▲6.9% The operating result of €49,409 and the net result of €41,948 are both a record.
Appointment: Mike De Swert (director)General meeting of 23-11-20226 points ▸
  • General meeting, 23-11-2022
  • Registered office clause, Gewest
  • 186 shares
  • Power of attorney, Katrien MAES
  • Director appointment, Mike De Swert
  • Registered office clause, Pastoor Van Tendeloostraat 8, 2560 Nijlen
  • The deed holds 3 more points.

Open the deed in the Belgian Official Gazette

Annual accounts 2021 filed PDFmicro format · 47 days before the deadline
2021
Annual accounts 2020 filed PDFmicro format · 38 days before the deadline
2020
Annual accounts 2019 filed PDFmicro format · 7 days before the deadline
2019
Annual accounts 2018 filed PDFmicro format · 13 days before the deadline
2018
Registered office moved from Boechout to BevelNew registered office: Pastoor van Tendeloostraat 8 te 2560 Bevel · Previous registered office: Hovesesteenweg 5/3 te 2530 Boechout · General meeting of 10-06-20182 points ▸
  • General meeting, 10-06-2018
  • Registered-office move, Pastoor van Tendeloostraat 8 te 2560 Bevel

Open the deed in the Belgian Official Gazette

Annual accounts 2017 filed PDFmicro format · 7 days before the deadline
2017
Incorporation PDFpublished on 03-05-2017
First establishment Pastoor Van Tendeloostraat (Bevel) 8, Nijlen

Financial milestones sit on the financial year-end date, not the filing date.

Sources: Publications in the Belgian Official GazetteFilings with the National Bank

History

On 28 April 2017, Bitforge was incorporated.1 In 2018 the registered office moved to Bevel.2 Total assets went from €45,177 in 2018 to €113,233 in 2025.3

  1. 1KBO register
  2. 2Belgian Official Gazette, 03-08-2018
  3. 3National Bank, annual accounts 2018 and 2025

Company details

Identity

Enterprise number
0674.954.308
VAT number
BE 0674.954.308
Peppol ID
0208:0674954308
Other Peppol ID
9925:BE0674954308
Legal form
Private limited company
Status
Active, normal situation
Founded
28-04-2017
Financial year
ends on 31 December
Annual meetingThe shareholders approve the annual accounts, among other things, at the annual meeting.
Second Thursday of June at 18:00
deed of 13-12-2022 (in Dutch)
Peppol
Reachable since 24-11-2023Follow this company and you will hear the next morning if it leaves the Peppol register.
Name
Bitforge in Dutch
Entity type
Legal entity
DurationMost companies exist for an unlimited period, until they are dissolved.
Unlimited
deed of 13-12-2022 (in Dutch)
Registered office clauseThe articles name the region of the registered office. The language of official documents depends on that region, among other things.
“Vlaams Gewest”
deed of 13-12-2022 (in Dutch)

Activities

NACEBEL 2025
62200 Computer consultancy and computer facilities management main activity
62100 Computer programming
Codes under NACEBEL 2008
62020 IT consultancy main activity
62010 Computer programming, consultancy and related activities
PurposeThe purpose describes the activities the company may carry out under its articles.
“Het ontwikkelen van op maat gemaakte hardware en software, de realisatie van software, programma’s en gebruiksklare systemen; het…”
3 activities
  1. Het ontwikkelen van op maat gemaakte hardware en software, de realisatie van software, programma’s en gebruiksklare systemen; het analyseren, ontwerpen, programmeren en eventueel uitgeven van gebruiksklare systemen, inclusief systemen van automatische data identificatie.
  2. De ontwikkeling, productie, levering/samenstelling van documentatie over standaard- of speciale programmatuur.
  3. IT-consulting en -advies, waaronder het verlenen van advies en praktische hulp aan de bedrijven, consulting (onder meer in verband met de keuze en het gebruik van software, hardware en communicatie; in verband met de beveiliging van computer en computernetwerken, enzovoort).
deed of 13-12-2022 (in Dutch)

Registered office and establishments

1 establishment
Establishment Since Unit number
Pastoor Van Tendeloostraat (Bevel) 8 registered office 2560 Nijlen 28-04-2017 2.264.087.589
1 former office
  • Hovesesteenweg 5/3, 2530 Boechout until 01-07-2018 · deed of 03-08-2018

Buildings and parcels at the address

Ground area
586 m²
Buildings
119 m²
Volume, LiDAR
727 m³
Tallest building
8.7 m
Buildings to scale, each on its own parcel
119 m², 8.7 m 119 m², 8.7 m

Location

registered office establishment The establishment unit on the map

Parcels

Cadastral parcelArea Buildings Height / floors
12003A0174/00T000586 m² 1 · 119 m² 8.7 m · 2

We would like to set cookies. That happens only with your consent. What we measure