Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Tight liquidity NBB
Cash and receivables cover 56 % of short-term debt in 2025; threshold 65 %.
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Not on Peppol Peppol
Not registered in the Peppol network, mandatory for VAT-liable companies since 1 January 2026.
Financials
Financial year 2025
BLACK DUCK from Damme, company number BE0632535713, closed financial year 2025 with a result of € 292,832 after tax. For that financial year BLACK DUCK recorded a gross margin of € -506 and equity of € 1.1 million. Compared with financial year 2024, the result moved from € -106,553 to € 292,832. Profitable, and profit is growing. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on January 2, 2026.
€ 1.1 million
▲ 35% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 292,832
▲ still € 106,553 loss in 2024
Profit after tax over the fiscal year.
€ 3,751
▲ 39% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € -257,957.
Debts at end 2025
€ 445,000
▼ 62% vs 2024
Loans from banks and other lenders, long and short.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € -425 | € -449 | € -522 | € -506 | ▲ € 16 |
| Profit after taxes | € -117,777 | € -66,112 | € -106,553 | € 292,832 | ▲ € 399,385 |
| Equity | € 1,015,876 | € 949,765 | € 843,211 | € 1,136,043 | ▲ 35% |
| Total debts | € 2,894,599 | € 2,481,516 | € 1,209,482 | € 451,675 | ▼ 63% |
| Cash | € 10,882 | € 3,766 | € 2,693 | € 3,751 | ▲ 39% |
| Retained profit | € -378,124 | € -444,235 | € -550,789 | € -257,957 | ▲ € 292,832 |
| Bank debt | € 2,100,000 | € 2,100,000 | € 1,168,000 | € 445,000 | ▼ 62% |
| Balance sheet total | € 3,910,475 | € 3,431,281 | € 2,052,693 | € 1,587,718 | ▼ 23% |
Key figures of BLACK DUCK, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 January 2027.
What happened to BLACK DUCK?
What happened at BLACK DUCK in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Next Gear BV stepped down as director. NBB
- Olivier Rogiest stepped down as director. NBB
- New annual accounts for financial year 2025: profit of € 292,832. Source: NBB ↗
- Christian Bultiauw stepped down as director. NBB
- Christian Bultiauw became a director. NBB
- Next Gear BV became a director. NBB
- Olivier Rogiest became a director. NBB
- New establishment in Damme. KBO
In short
From € 117,777 loss in 2022 to € 292,832 profit in 2025.
Best year ever: 2025, with € 292,832 profit.
Management
The stake of J&M INVEST, BLACK SWAN, CEBELEC comes from that shareholder’s own annual accounts; small companies do not report their shareholders themselves.
BLACK DUCKThe shares are held by J&M INVEST (25%), BLACK SWAN (25%) and CEBELEC (25%). It owns 13.7% of Premier Development Fund itself.
Directors
According to the 2025 annual accounts
Christian Bultiauw
Director
Also active at: CB CLASSIC CARS, VIGNÉE INVEST, COFIMEX, CEBELEC, UNIMMO INVEST, BLACK GOOSE, BLACK PANTHER, BLACK SWAN +1 more
since 2020 · until 2025
Director · represented by Anthony Theys
Also active at: HELEBLITZ services, STORM HOLDING 2, BLACK GOOSE, STORM HOLDING IERLAND, BLACK PANTHER, BLACK DRAGON, BLACK WOLF, FARADAY BROTHERS +3 more
since 2020 · until 2026
Olivier Rogiest
Director
Also active at: BLACK GOOSE, Quaestor Rentmeesters, 3SAG, BLACK PANTHER, ACCONSTRUCT, Quaestor MC, QUAESTOR VENTURI, QUAESTOR WPEF IX & WPF I +7 more
since 2020 · until 2026
Shareholders
Participations
13.7%
Establishments
Establishment units
Physical locations of this company
Vissersstraat 21 box B
8340 Damme
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 9 companies are registered at this address.
All companies at this address →BLACK GOOSE same network
€ -559 gross margin · 2025
SWAN ENERGY 2
€ -2,752 gross margin · 2025
FARADAY BROTHERS same network
€ 169,906 gross margin · 2025
BLACK SWAN same network
€ -47,835 gross margin · 2025
FIRST GEAR
€ 195,467 gross margin · 2025
+4 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
- 0632.535.713
- VAT number
- BE 0632.535.713
- Registered office
- Vissersstraat 21 bus B, 8340 Damme
- Names & denominations
- BLACK DUCK
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 17 June 2015
- Peppol
- Not registered