BLUEDUCK
ActiveSummary
BLUEDUCK has been active since 2008 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €68,721 and a net result of -€1,919. Equity has been shrinking by about 6.7% per year since 2018. Its solvency ranks better than 22% of 2,480 sector peers (NACE 90, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Overview
Overview
Official details
Source: KBO- Status
- Active since 29-09-2008 Normal situation
- Activity
- Other support activities for arts and performing arts NACE 90399
- Establishment units
- 2.174.674.078 8400 Oostende, since 29-09-2008
- 2.275.589.415 8400 Oostende, since 15-12-2017and 1 other
- Financial year end
- 31 December
- Peppol
- Reachable since 02-01-2026
Financial position
- Bankruptcy probabilitywithin 12 months
- 0.1%
- Gross margin
- €58,083
- ▲ 6.6%
- Turnover
- ≈ €170,000
- estimated
- Loss
- €1,919
- Equity
- €68,721
- ▼ 54.2%
- Total assets
- €645,466
- ▲ 3.8%
Score breakdownraises riskEquity €68,721 (10.6% of total assets)lowers riskSize: total assets €645,466Sector: Arts creation and performing arts activities (NACE 90)Figures for financial year 2025 (filed on 31-07-2026)Show the evidence
Checked score
About 1 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 90, micro). It does better than 24% of them on solvency, 38% on liquidity, 36% on profitability and 12% on growth.
The bankruptcy probability was computed on 02-11-2026 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.
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 7 accounts on average 11 days before the deadline. In the sector (NACE 90), the median for financial year 2024 was 4 days before the deadline, and 38% of those companies filed late.
Searched, nothing found (2)
Financials
Financials · financial year 2025, micro format
Annual accounts 2025 filed on 31-07-2026 at the NBB all 17 filings
Every figure per financial year
The operating result for 2025 is 45% lower than in 2024 and the lowest since 2021. It is the fourth fall in a row.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Mortgages, amount registered | - | - | - | - | €25,000 |
| Mortgage mandates | - | - | - | - | €235,000 |
| Carrying value of the mortgaged assets | - | - | - | - | €260,889 |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €56,841 | €16,801 | €281,521 |
| Depreciation and write-downs of the year | €28,822 | €20,581 | €23,944 | €31,770 | €43,135 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0 | - | €8,750 | €950 | €0 | ▼ 100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €25,641 | €36,222 | €34,763 | €28,822 | €20,581 | €23,944 | €31,770 | €43,135 | ▲ 35.8% |
| Other operating charges640/8 | - | - | - | €2,714 | €5,661 | €7,240 | €5,342 | €5,405 | ▲ 1.2% |
| Gross operating margin9900 | €76,661 | €51,728 | €45,457 | €71,873 | €63,173 | €65,801 | €54,498 | €58,083 | ▲ 6.6% |
| Operating profit (loss)9901 | €49,610 | €15,238 | €8,083 | €40,337 | €36,932 | €34,616 | €17,386 | €9,543 | ▼ 45.1% |
| Financial income75/76B | - | - | - | €273 | €1,027 | €397 | €2,039 | €83 | ▼ 95.9% |
| Recurring financial income75 | €551 | €323 | €271 | €273 | €1,027 | €397 | €2,039 | €83 | ▼ 95.9% |
| Financial charges65/66B | - | - | - | €8,641 | €12,268 | €4,930 | €5,271 | €11,370 | ▲ 116% |
| Recurring financial charges65 | €13,861 | €10,408 | €5,305 | €8,641 | €12,268 | €4,930 | €5,271 | €11,370 | ▲ 116% |
| Non-recurring financial charges66B | - | - | - | €0 | - | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €36,300 | €5,153 | €3,050 | €31,969 | €25,690 | €30,083 | €14,154 | -€1,745 | - |
| Income taxes67/77 | €10,895 | €2,052 | €35,081 | -€23,751 | €9,038 | €8,288 | €4,302 | €174 | ▼ 96.0% |
| Profit (loss) for the period9904 | €25,405 | €3,101 | -€32,031 | €55,721 | €16,652 | €21,795 | €9,852 | -€1,919 | - |
| Profit (loss) for the period to be appropriated9905 | €25,405 | €3,101 | -€32,031 | €55,721 | €16,652 | €21,795 | €9,852 | -€1,919 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €501,413 | €571,604 | €542,569 | €548,729 | €587,156 | €640,804 | €621,909 | €645,466 | ▲ 3.8% |
| Fixed assets21/28 | €218,065 | €319,453 | €284,689 | €255,867 | €235,287 | €268,183 | €253,214 | €491,600 | ▲ 94.1% |
| Tangible fixed assets22/27 | €218,065 | €319,453 | €284,689 | €255,867 | €235,287 | €268,183 | €253,214 | €491,600 | ▲ 94.1% |
| Land and buildings22 | - | - | - | €255,867 | €235,287 | €214,706 | €197,647 | €442,637 | ▲ 124% |
| Plant, machinery and equipment23 | - | - | - | - | - | - | €2,502 | €12,506 | ▲ 400% |
| Furniture and vehicles24 | - | - | - | - | - | €53,478 | €53,065 | €36,456 | ▼ 31.3% |
| Current assets29/58 | €283,348 | €252,151 | €257,879 | €292,861 | €351,869 | €372,621 | €368,695 | €153,866 | ▼ 58.3% |
| Amounts receivable after more than one year29 | - | - | - | - | - | €10,000 | €8,329 | €8,329 | = |
| Other amounts receivable291 | - | - | - | - | - | €10,000 | €8,329 | €8,329 | = |
| Amounts receivable within one year40/41 | €75,888 | €90,217 | €51,851 | €61,253 | €64,893 | €21,006 | €61,640 | €81,309 | ▲ 31.9% |
| Trade receivables40 | - | - | - | €52,367 | €63,879 | €13,274 | €39,107 | €48,543 | ▲ 24.1% |
| Other amounts receivable41 | - | - | - | €8,885 | €1,014 | €7,733 | €22,533 | €32,766 | ▲ 45.4% |
| Current investments50/53 | €16,256 | €16,256 | €16,256 | €16,256 | €10,256 | €10,256 | €10,256 | €10,256 | = |
| Cash at bank and in hand54/58 | €191,203 | €145,678 | €189,773 | €215,353 | €276,521 | €329,864 | €286,329 | €51,966 | ▼ 81.9% |
| Deferred charges and accrued income490/1 | - | - | - | - | €199 | €1,494 | €2,142 | €2,006 | ▼ 6.3% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €501,413 | €571,604 | €542,569 | €548,729 | €587,156 | €640,804 | €621,909 | €645,466 | ▲ 3.8% |
| Equity10/15 | €204,513 | €180,298 | €88,841 | €101,866 | €118,518 | €140,313 | €150,165 | €68,721 | ▼ 54.2% |
| Contributions10/11 | €12,400 | €12,400 | - | €12,400 | €12,400 | €12,400 | €12,400 | €12,400 | = |
| Reserves13 | €192,113 | €167,898 | €76,441 | €89,466 | €106,118 | €127,913 | €137,765 | €56,321 | ▼ 59.1% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €0 | - | - | - |
| Distributable reserves133 | - | - | - | €87,606 | €104,258 | €127,913 | €137,765 | €56,321 | ▼ 59.1% |
| Profit (loss) carried forward14 | - | - | - | - | €0 | - | - | €0 | - |
| Amounts payable17/49 | €296,900 | €391,306 | €453,727 | €446,863 | €468,638 | €500,491 | €471,744 | €576,745 | ▲ 22.3% |
| Amounts payable after more than one year17 | €136,982 | €228,236 | €214,862 | €201,553 | €187,953 | €191,079 | €172,543 | €397,046 | ▲ 130% |
| Financial debts170/4 | - | - | - | €201,553 | €187,953 | €191,079 | €172,543 | €397,046 | ▲ 130% |
| Amounts payable within one year42/48 | €159,918 | €163,070 | €238,865 | €245,310 | €244,829 | €295,961 | €285,306 | €167,698 | ▼ 41.2% |
| Current portion of amounts payable after more than one year42 | - | - | - | €13,309 | €13,600 | €18,090 | €18,535 | €28,541 | ▲ 54.0% |
| Trade debts44 | €6,806 | €5,824 | €15,876 | €476 | €1,767 | €8,444 | €4,328 | €2,491 | ▼ 42.5% |
| Suppliers440/4 | - | - | - | €476 | €1,767 | €8,444 | €4,328 | €2,491 | ▼ 42.5% |
| Taxes, remuneration and social security45 | - | - | - | €12,835 | €2,897 | €8,583 | €4,197 | €3,570 | ▼ 14.9% |
| Taxes450/3 | - | - | - | €12,835 | €2,897 | €8,583 | €4,197 | €3,570 | ▼ 14.9% |
| Other amounts payable47/48 | - | - | - | €218,690 | €226,565 | €260,845 | €258,245 | €133,097 | ▼ 48.5% |
| Accrued charges and deferred income492/3 | - | - | - | - | €35,855 | €13,451 | €13,894 | €12,000 | ▼ 13.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €25,405 | €3,101 | -€32,031 | €55,721 | €16,652 | €21,795 | €9,852 | -€1,919 | - |
| + Depreciation and write-downs630 | €25,641 | €36,222 | €34,763 | €28,822 | €20,581 | €23,944 | €31,770 | €43,135 | ▲ 35.8% |
| Operating cash flow (approximation) | €51,046 | €39,323 | €2,732 | €84,543 | €37,233 | €45,740 | €41,623 | €41,216 | ▼ 1.0% |
| Investment in fixed assets (approximation) | - | -€137,610 | €0 | €0 | €0 | -€56,841 | -€16,801 | -€281,521 | ▼ 1,576% |
| Change in cash | - | -€45,525 | €44,094 | €25,580 | €61,168 | €53,343 | -€43,535 | -€234,363 | ▼ 438% |
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, 1,423 companies had the same profile as BLUEDUCK has now. Two years later, 96.5% were still going and 1.0% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a small loss
Another 0.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of BLUEDUCK itself: 0.1% within 12 months.
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 1,423 companies, not a prediction for BLUEDUCK. 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.
Latest 10 of 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 31-07-2026 | 2026-00364049 | |
| 31-12-2024 | micro format | 10-07-2025 | 2025-00253608 | |
| 31-12-2023 | micro format | 31-07-2024 | 2024-00310573 | |
| 31-12-2022 | micro format | 31-07-2023 | 2023-00292374 | |
| 31-12-2021 | micro format | 11-07-2022 | 2022-20169578 | |
| 31-12-2020 | micro format | 15-07-2021 | 2021-36200246 | |
| 31-12-2019 | micro format | 13-07-2020 | 2020-29600426 | |
| 31-12-2018 | micro format | 17-07-2019 | 2019-33700456 | |
| 31-12-2017 | micro format | 16-07-2018 | 2018-33700317 | |
| 31-12-2016 | micro format | 02-07-2017 | 2017-26200103 |
Board & ownership
Directors
Owners and capital
Capital transactions
- 22-12-2023 Converted to unavailable equity
Mandate history
- Board
- began earlier
- end not dated
| Name | Functions and periods |
|---|---|
| Dieter Cottenies |
|
| DUBOIS Veerle Irena |
|
Network & group
BLUEDUCK shares no director with another company.
Connections & network
1 current directorThe network starts from the directors of BLUEDUCK. Every other company they run is a node.
Timeline
Acts, filings and financial milestones
22-12
Gazette deed
Change of role: Dieter Cottenies, from manager and director to directorAppointment: DUBOIS Veerle Irena (opvolgend bestuurder) · Approval · Purpose change13 points ▸
- General meeting, 14-12-2023
- Approval, “verslag van de bestuurder houdende omstandige verantwoording voorgestelde wijziging voorwerp” (deed in Dutch)
- Purpose change
- Amendment of the articles, mentioned 3 times in the deed
- Capital conversion, “statutair onbeschikbare eigen vermogensrekening” (deed in Dutch)
- Reserve release, “vormen en meerderheden statutenwijziging, opheffing statutair onbeschikbare eigen vermogensrekening en beschikbaar maken voor uitkering” (deed in Dutch)
- Capital
- Director resignation, Dieter Cottenies (manager and director)
- Director appointment, Dieter Cottenies (director)
- Director appointment, DUBOIS Veerle Irena (opvolgend bestuurder)
- Other provision, “kwijting ontslagnemende zaakvoerder/bestuurder, op volgende jaarvergadering” (deed in Dutch)
- Other provision, “verplichting artikel 2:8,§4 WVV, instrumenterend notaris vestigt aandacht van partijen” (deed in Dutch)
- The act holds 1 more point.
Show earlier events
Sources:Publications in the Belgian Official GazetteFilings with the National Bank
History
Company details
Register details
Identity
KBO recordRegistered office and establishments
Activities
NACEBEL 2025Codes under NACEBEL 2008
18 activities
- Het inrichten van allerlei events van om het even welke aard,zoals concerten,festivals,ballet-,dans- en toneelvoorstellingen,modeshows
- Het organiseren van conferenties,seminaries,feesten,banketten,tentoonstellingen en kunstgalerijen
- Het schrijven van scenario's,het ontwikkelen,produceren,regisseren,presenteren,realiseren en afwerken van producties op film,video en andere audiovisuele dragers,hierin begrepen publicitaire films en promotiefilms,films over technische onderwerpen of over bedrijven,films met educatieve inhoud of voor vormingsdoeleinden,videoclips
- Het uitoefenen voor rekening van derden,van alle activiteiten die aan de filmproductie verwant zijn zoals het nasynchroniseren,het toevoegen van speciale effecten,het ontwikkelen,monteren,inkleuren enzovoort
- Het uitoefenen van alle activiteiten van filmstudio's,inclusief de terbeschikkingstelling van technisch materiaal
- Het verlenen van diensten verwant aan de filmindustrie
- Het organiseren,regisseren en presenteren van openbare debatten,literaire avonden en studiedagen ten behoeve van een zo groot mogelijk publiek
- De communicatie in de ruimste zin van het woord,met alle moderne media en in het bijzonder via film,TV,radio,webdesign,theater,beeldregistratie,videocassettes,fotomateriaal,pers,enzovoort
- Het verwerven,vervreemden en exploiteren van auteursrechten en door auteursrechten beschermde werken
- Het promoten,stimuleren,organiseren,deelnamen aan en uitvoeren van televisie en filmische evenementen zoals:concerten,tentoonstellingen,theater,televisie en filmische experimenten.Hetzij als productieleider,producer,regisseur,researcher,monteur,realisator,presentator
- Het management van artiesten en casting in het algemeen
- Het verlenen van audio-visuele diensten,voor eigen rekening of voor derden
- Het produceren van literaire werken zowel fictie als non-fictie
- Het vervullen van onderwijs- en academische opdrachten
- Het verlenen van logistieke en administratieve steun of van rechtstreekse medewerking bij de programmatie en productie van geluid- en beelddragers
- Projectontwikkeling en handel in onroerend goed voor eigen rekening,voor woningbouw,voor nieuwbouw van individuele woningen of renovatiewerken,voor de bouw van appartementsgebouwen,voor kantoorgebouwen,voor infrastructuurwerken,voor de bouw of aanleg van commerciële en industriële centra,hotels,enzovoort
- Verhuur van eigen onroerende goederen of van derden,van woningen,van al dan niet gemeubelde appartementen en huizen,appartementen in hotels en het verlenen van bijkomende diensten
- Het zoeken naar en verwerven van financiële middelen voor de verwezenlijking van al deze gestelde doeleinden
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 |
|---|---|---|---|---|
| 35020B0467/00K013 | Flanders | 372 m² | 1 · 88 m² | 11.1 m · 3 |
| 35013A0341/00G000 | Flanders | 302 m² | 1 · 302 m² | 20.4 m · 6 |
| 35013A0405/00F000 | Flanders | 124 m² | 1 · 125 m² | 19.9 m · 6 |