So the game crashed, right after the loading screen. then (in german) there popped up an error message, that "Port Royale.ink" seemed to caused an error. it offered me to show the "error log" and there was something with "Walhalla" - i found an old community entry on GOG.

After trying some compatibility, resolution, windowmode stuff, i found the solution at least for WIN7 in the shortcut-menu:

1. I set the compatibilty to Windows XP
2. I deactivated the checkbox for "Disable display scaling on high DPI settings"
3. INGAME: I set the resolution on 1024x768.

Game worked after that. It will NOT work on a higher resolution though! But i had the other settings on high.

I think the first two points are the most important ones :)

cheers!