Black Cod
ActiveSummary
Black Cod has been active since 2017 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €64,679 and a net result of €7,071. Equity is growing by about 12% per year across the filed financial years. Its solvency ranks better than 31% of 1,859 sector peers (NACE 59, financial year 2025). The computed 12-month bankruptcy probability is 0.4% (very low).
Overview
- Staff
- 4 FTE
- Equity
- €64,679
- Profit
- €7,071
- Holdings
- 1
Why 81raises risk1 change of registered office in 24 monthsLast filed accounts filed 11 days late; 1 of the last 3 latelowers riskLiquidity: current ratio 1.72, cash €66,133Sector: Motion picture, video and television programme production, sound recording and music publishing activities (NACE 59)Show the evidence
Checked score
About 4 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
How it is calculated
The band follows from the bankruptcy probability, on a scale where 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 59, micro): better than 35% on solvency, 47% on liquidity, 51% on profitability and 14% on growth.
The bankruptcy probability was computed on 29-10-2026 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.
Some facts cap the score, however low the probability. Negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late hold it at Fair at most (59); two missing filings, at Weak (44). An ongoing judicial reorganisation or the company's end (bankruptcy, dissolution, liquidation) holds it at Critical at most (24).
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Signals
This company filed its last 7 accounts on average 17 days after the deadline; the sector median (NACE 59) for financial year 2024 is 2 days before the deadline, and 41% of those companies filed late.
Searched, nothing found (2)
- Annual accounts filedfinancial year 2025 · micro…
- Registered officeRegistered-office move
- Annual accounts filedfinancial year 2024 · micro…
Financials · financial year 2025, micro format
2025 annual accounts filed late (11 days) Filed on 11 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00405698.
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result recovers in 2025; 2025 is 93% above 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Average staff in full-time equivalents (FTE).
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 59, Motion picture, video and television programme production, sound recording and music publishing activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Peer companies
Historical observationOf the 3,274 companies that looked in July 2024 the way this one looks now, 2.5% went bankrupt within 24 months and 94.7% are still going.
- Micro
- 5 to 10 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a lower bankruptcy probability: 0.4% over twelve months. The score reads more about this company than the group's four characteristics; both figures are right about what they measure.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,445 companies of July 2024 its group's bankruptcy share. Expected: 1.6%; actually bankrupt within 24 months: 1.7%.
| 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% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74.5% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 3,274 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | - | €2,521 | - |
| Remuneration, social security and pensions62 | - | - | - | €106,885 | €237,551 | €405,680 | €238,756 | €228,182 | ▼ 4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €2,185 | €4,219 | €3,484 | €3,429 | €3,145 | €11,750 | €26,653 | €12,768 | ▼ 52.1% |
| Other operating charges640/8 | - | - | - | €9,858 | €4,167 | €3,272 | €10,686 | €4,125 | ▼ 61.4% |
| Gross operating margin9900 | €33,056 | €81,509 | €91,428 | €171,563 | €328,615 | €438,557 | €287,175 | €266,493 | ▼ 7.2% |
| Operating profit (loss)9901 | €24,593 | €50,591 | €41,929 | €51,392 | €83,753 | €17,856 | €11,080 | €21,417 | ▲ 93.3% |
| Financial income75/76B | - | - | - | €131 | €160 | €150 | €8,177 | €197 | ▼ 97.6% |
| Recurring financial income75 | €27 | €531 | €2,284 | €131 | €160 | €150 | €8,177 | €197 | ▼ 97.6% |
| Financial charges65/66B | - | - | - | €2,605 | €1,762 | €1,350 | €2,846 | €3,879 | ▲ 36.3% |
| Recurring financial charges65 | €121 | €1,161 | €1,698 | €2,605 | €1,762 | €1,350 | €2,846 | €3,879 | ▲ 36.3% |
| Profit (loss) for the period before taxes9903 | €24,499 | €49,961 | €42,515 | €48,918 | €82,152 | €16,655 | €16,412 | €17,735 | ▲ 8.1% |
| Income taxes67/77 | €5,765 | €12,728 | €15,771 | €16,652 | €14,052 | €10,000 | €14,500 | €10,664 | ▼ 26.5% |
| Profit (loss) for the period9904 | €18,734 | €37,233 | €26,744 | €32,266 | €68,099 | €6,655 | €1,912 | €7,071 | ▲ 270% |
| Profit (loss) for the period to be appropriated9905 | €18,734 | €37,233 | €26,744 | €32,266 | €68,099 | €6,655 | €1,912 | €7,071 | ▲ 270% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €58,913 | €90,099 | €143,609 | €180,541 | €243,725 | €371,193 | €315,027 | €261,711 | ▼ 16.9% |
| Fixed assets21/28 | €5,534 | €7,418 | €3,934 | €11,666 | €17,190 | €77,987 | €93,008 | €17,149 | ▼ 81.6% |
| Intangible fixed assets21 | - | - | - | - | - | - | €23,928 | €13,262 | ▼ 44.6% |
| Tangible fixed assets22/27 | €3,634 | €5,518 | €2,034 | €7,316 | €12,840 | €75,537 | €66,631 | €2,437 | ▼ 96.3% |
| Plant, machinery and equipment23 | - | - | - | €7,316 | €8,430 | €11,489 | €7,035 | €675 | ▼ 90.4% |
| Furniture and vehicles24 | - | - | - | - | €4,410 | €64,047 | €59,596 | €1,762 | ▼ 97.0% |
| Financial fixed assets28 | €1,900 | €1,900 | €1,900 | €4,350 | €4,350 | €2,450 | €2,450 | €1,450 | ▼ 40.8% |
| Current assets29/58 | €53,379 | €82,681 | €139,675 | €168,875 | €226,536 | €293,206 | €222,019 | €244,562 | ▲ 10.2% |
| Amounts receivable within one year40/41 | €43,660 | €67,778 | €111,685 | €128,884 | €169,683 | €273,392 | €178,200 | €178,429 | ▲ 0.1% |
| Trade receivables40 | - | - | - | €117,704 | €146,208 | €258,419 | €163,174 | €162,832 | ▼ 0.2% |
| Other amounts receivable41 | - | - | - | €11,180 | €23,475 | €14,974 | €15,026 | €15,597 | ▲ 3.8% |
| Cash at bank and in hand54/58 | €9,620 | €13,794 | €25,805 | €37,671 | €53,743 | €19,814 | €43,819 | €66,133 | ▲ 50.9% |
| Deferred charges and accrued income490/1 | - | - | - | €2,320 | €3,109 | - | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €58,913 | €90,099 | €143,609 | €180,541 | €243,725 | €371,193 | €315,027 | €261,711 | ▼ 16.9% |
| Equity10/15 | €38,699 | €75,932 | €82,676 | €54,942 | €123,042 | €129,697 | €131,609 | €64,679 | ▼ 50.9% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,005 | €1,860 | €1,860 | €1,860 | €1,860 | €111,097 | €113,009 | €46,079 | ▼ 59.2% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | - | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | - | - | - | - | - |
| Distributable reserves133 | - | - | - | - | €1,860 | €111,097 | €113,009 | €46,079 | ▼ 59.2% |
| Profit (loss) carried forward14 | €19,094 | €55,472 | €62,216 | €34,482 | €102,582 | - | - | - | - |
| Amounts payable17/49 | €20,214 | €14,167 | €60,933 | €125,599 | €120,684 | €241,496 | €183,419 | €197,032 | ▲ 7.4% |
| Amounts payable after more than one year17 | - | - | - | - | - | €35,684 | €26,644 | €54,716 | ▲ 105% |
| Financial debts170/4 | - | - | - | - | - | €35,684 | €26,644 | €54,716 | ▲ 105% |
| Amounts payable within one year42/48 | €19,464 | €14,167 | €52,526 | €117,724 | €120,550 | €205,811 | €156,774 | €142,315 | ▼ 9.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | €8,564 | €9,045 | €18,130 | ▲ 100% |
| Trade debts44 | €6,999 | €7,464 | €8,951 | €18,674 | €14,005 | €56,154 | €28,660 | €38,199 | ▲ 33.3% |
| Suppliers440/4 | - | - | - | €18,674 | €14,005 | €56,154 | €28,660 | €38,199 | ▲ 33.3% |
| Taxes, remuneration and social security45 | - | - | - | €34,772 | €81,669 | €122,741 | €107,012 | €67,021 | ▼ 37.4% |
| Taxes450/3 | - | - | - | €21,115 | €25,519 | €87,516 | €83,166 | €47,869 | ▼ 42.4% |
| Remuneration and social security454/9 | - | - | - | €13,657 | €56,150 | €35,224 | €23,846 | €19,152 | ▼ 19.7% |
| Other amounts payable47/48 | - | - | - | €64,278 | €24,876 | €18,353 | €12,057 | €18,965 | ▲ 57.3% |
| Accrued charges and deferred income492/3 | - | - | - | €7,875 | €134 | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18,734 | €37,233 | €26,744 | €32,266 | €68,099 | €6,655 | €1,912 | €7,071 | ▲ 270% |
| + Depreciation and write-downs630 | €2,185 | €4,219 | €3,484 | €3,429 | €3,145 | €11,750 | €26,653 | €12,768 | ▼ 52.1% |
| Operating cash flow (approximation) | €20,919 | €41,452 | €30,227 | €35,695 | €71,244 | €18,405 | €28,564 | €19,839 | ▼ 30.5% |
| Investment in fixed assets (approximation) | - | -€6,103 | €0 | -€11,161 | -€8,669 | -€72,547 | -€41,674 | €63,091 | - |
| Change in cash | - | €4,174 | €12,011 | €11,866 | €16,072 | -€33,929 | €24,006 | €22,313 | ▼ 7.1% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Filings with the National Bank (9)
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | micro format | 11-08-2026 | 2026-00405698 |
| 31-12-2024 | micro format | 31-07-2025 | 2025-00344382 |
| 31-12-2023 | micro format | 17-09-2024 | 2024-00471679 |
| 31-12-2022 | micro format | 12-09-2023 | 2023-00444547 |
| 31-12-2021 | micro format | 22-08-2022 | 2022-20300432 |
| 31-12-2020 | micro format | 05-07-2021 | 2021-30000465 |
| 31-12-2019 | micro format | 21-08-2020 | 2020-42800212 |
| 31-12-2018 | micro format | 15-07-2019 | 2019-32200413 |
| 31-12-2017 | micro format | 02-07-2018 | 2018-25600051 |
Similar companies · same sector, comparable size
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.
Directors
Mandate history
- Board
- began earlier
| Name | Functions and periods |
|---|---|
| Kayvc |
|
| Rembert van Cauwenbergh |
|
Owners and capital
Owners
No owners or capital events in the accounts and acts we read.
Group and network
Holdings and subsidiaries
1 holdingHoldings 1
-
33.33%
Sources: the companies' annual accounts, the acts in the Belgian Official Gazette and the LEI register. Annual accounts state the shareholders that notified the company under article 7:225 of the Code of Companies and Associations and the parent companies that consolidate it. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not include these statements in its annual accounts, or does not have to, is not listed.
Connections & network
The board mandates are listed below; here you explore them as a network.
History
Acts, filings and financial milestones
04-02
Gazette deed
Registered officeRegistered-office move2 facts ▸
- Board meeting, 22-09-2025
- Registered-office move, Riemstraat 19,2000 Antwerpen
06-06
Gazette deed
Resignation: Kayvc (director)Permanent representative: Rembert van Cauwenbergh3 facts ▸
- General meeting, 16-05-2025
- Director resignation, Kayvc (director (not named in the articles))
- Permanent representative, Rembert van Cauwenbergh
20-03
Gazette deed
Registered officeRegistered-office move2 facts ▸
- Board meeting, 04-07-2023
- Registered-office move, 2000 Antwerpen,Kloosterstraat 152 bus 001
21-09
Gazette deed
Resignation: Rembert VAN CAUWENBERGH (director)Appointment: KAYVC (director) · Permanent representative: Rembert VAN CAUWENBERGH · Registered-office move6 facts ▸
- General meeting, 08-09-2021
- Director resignation, Rembert VAN CAUWENBERGH (director)
- Director appointment, KAYVC (director)
- Permanent representative, Rembert VAN CAUWENBERGH
- Board meeting, 15-07-2022
- Registered-office move, 2018 Antwerpen,Regine Beerplein 1,Bedrijfsruimte Blok D 403
Show earlier events
About the unread acts
Of the 7 Belgian Official Gazette deeds we know for this company, 4 have been read. The other 3 have not been read yet: what they contain is neither established nor disproved here.
Register details
If you follow this company, Checked tells you the day it leaves the Peppol register.
Register as of 29 October 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.
Environmental permits: No permit applications found in Flanders. Brussels and Wallonia do not publish the applicant.
Sites & property
1 establishment unit
1 parcel
| Cadastral parcel | Region | Area | Buildings | Height / floors |
|---|---|---|---|---|
| 11804D3492/00C002 | Flanders | 377 m² | 1 · 377 m² | 19.9 m · 5 |