Bitforge: what changed
Bitforge
Largest movements
- Cash +€38,232
up €38,232 (+80.5%), from €47,486 to €85,718
mainly Net result for the year (+€29,649) and Receivables within one year (+€19,409)
- Receivables within one year -€19,409
down €19,409 (-93.9%), from €20,670 to €1,261
of which Trade receivables: -€18,960
- Tangible fixed assets +€7,695
up €7,695 (+64.2%), from €11,977 to €19,672
of which Other tangible fixed assets: +€10,415
- Deferred charges and accrued income +€2,544
up €2,544 (+63.0%), from €4,038 to €6,582
- Profit (loss) carried forward +€29,649
new in 2025: €29,649
- Other debts -€3,999
down €3,999 (-6.4%), from €62,392 to €58,392
- Trade debts +€3,017
up €3,017 (+242%), from €1,244 to €4,261
- Gross operating margin +€14,471
up €14,471 (+50.8%), from €28,465 to €42,936
- Taxes +€2,926
up €2,926 (+56.1%), from €5,213 to €8,139
- Depreciation +€725
up €725 (+24.7%), from €2,940 to €3,665
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €84,172 | €113,233 | +€29,061 | +34.5% |
| Fixed assets | 21/28 | €11,977 | €19,672 | +€7,695 | +64.2% |
| Tangible fixed assets | 22/27 | €11,977 | €19,672 | +€7,695 | +64.2% |
| Plant, machinery and equipment | 23 | €8,584 | €7,373 | -€1,211 | -14.1% |
| Furniture and vehicles | 24 | €2,142 | €633 | -€1,509 | -70.5% |
| Other tangible fixed assets | 26 | €1,251 | €11,666 | +€10,415 | +832% |
| Current assets | 29/58 | €72,195 | €93,561 | +€21,367 | +29.6% |
| Amounts receivable within one year | 40/41 | €20,670 | €1,261 | -€19,409 | -93.9% |
| Trade receivables | 40 | €19,360 | €400 | -€18,960 | -97.9% |
| Other amounts receivable | 41 | €1,310 | €861 | -€449 | -34.3% |
| Cash at bank and in hand | 54/58 | €47,486 | €85,718 | +€38,232 | +80.5% |
| Deferred charges and accrued income | 490/1 | €4,038 | €6,582 | +€2,544 | +63.0% |
| Total equity and liabilities | 10/49 | €84,172 | €113,233 | +€29,061 | +34.5% |
| Equity | 10/15 | €18,600 | €48,249 | +€29,649 | +159% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €29,649 | +€29,649 | |
| Amounts payable | 17/49 | €65,572 | €64,984 | -€588 | -0.9% |
| Amounts payable within one year | 42/48 | €65,360 | €64,635 | -€725 | -1.1% |
| Financial debts | 43 | €5 | €5 | = | 0.0% |
| Credit institutions | 430/8 | €5 | €5 | = | 0.0% |
| Trade debts | 44 | €1,244 | €4,261 | +€3,017 | +242% |
| Suppliers | 440/4 | €1,244 | €4,261 | +€3,017 | +242% |
| Taxes, remuneration and social security | 45 | €1,718 | €1,976 | +€257 | +15.0% |
| Taxes | 450/3 | €1,718 | €1,976 | +€257 | +15.0% |
| Other amounts payable | 47/48 | €62,392 | €58,392 | -€3,999 | -6.4% |
| Accrued charges and deferred income | 492/3 | €212 | €349 | +€137 | +64.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,940 | €3,665 | +€725 | +24.7% |
| Other operating charges | 640/8 | €187 | €192 | +€4 | +2.3% |
| Gross operating margin | 9900 | €28,465 | €42,936 | +€14,471 | +50.8% |
| Operating profit (loss) | 9901 | €25,338 | €39,080 | +€13,742 | +54.2% |
| Financial income | 75/76B | €9 | - | -€9 | |
| Recurring financial income | 75 | €9 | - | -€9 | |
| Financial charges | 65/66B | €1,357 | €1,291 | -€66 | -4.8% |
| Recurring financial charges | 65 | €1,357 | €1,291 | -€66 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €23,991 | €37,789 | +€13,798 | +57.5% |
| Income taxes | 67/77 | €5,213 | €8,139 | +€2,926 | +56.1% |
| Profit (loss) for the period | 9904 | €18,778 | €29,649 | +€10,872 | +57.9% |
| Profit (loss) for the period to be appropriated | 9905 | €18,778 | €29,649 | +€10,872 | +57.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.