ACTIVE

Starter Fund

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Financial year 2025 · closed on 31/12/2025
Net result
32,7 k €
+120.6% YoY
Gross margin
-10,1 k €
Equity
1,6 M €
+2.1% YoY

What does Starter Fund do?

Starter Fund is a Public limited company incorporated in 1993. Its registered office is in Charleroi.

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0451.292.894
Incorporation
29/10/1993
Legal form
Public limited company
Registered office
Quai Arthur Rimbaud 6
6000 Charleroi · WallonieSee on map
Contributed capital
2 067 500,00 €
Latest accounts
31/12/2025
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflow
View the BCE/KBO Public Search record →
Health score
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✦ Verdict · Analyst summary
Financials

Trend over 19 financial years

2025202420232022202120202019201820172016201520142013201220112010200920082007
Income statement
Gross margin-10,1 k €––––––––––––––––––
EBITDA-11,1 k €-11,2 k €-7,4 k €48,2 k €633 €-3,2 k €-310,1 k €-4,3 k €-4,2 k €-4,8 k €-5,4 k €-7,4 k €-5,5 k €-13,1 k €-4,4 k €-4,5 k €-5 k €-4,3 k €-390 €
Operating result-11,1 k €-11,2 k €-7,4 k €48,2 k €633 €-3,2 k €-309,7 k €-4,3 k €-4,2 k €-4,8 k €-5,4 k €-7,4 k €-5,5 k €-13,5 k €-4,4 k €-4,5 k €-5 k €-4,3 k €-390 €
Net result32,7 k €-158,7 k €37,6 k €60,5 k €28,5 k €-145,3 k €15,5 k €3,4 k €9,2 k €13,4 k €20,8 k €20,9 k €-76 k €-120,4 k €-253,8 k €53,7 k €-385,9 k €115,8 k €70,9 k €
Balance sheet
Equity1,6 M €1,6 M €1,7 M €1,7 M €1,7 M €1,6 M €1,8 M €1,8 M €1,7 M €1,7 M €1,7 M €1,7 M €1,7 M €1,8 M €1,9 M €2,1 M €2,1 M €2,5 M €2,4 M €
Total assets1,6 M €1,6 M €1,8 M €1,7 M €1,7 M €1,6 M €1,8 M €1,8 M €1,8 M €1,7 M €1,7 M €1,7 M €1,7 M €1,8 M €1,9 M €2,1 M €2,1 M €2,5 M €2,4 M €
Cash499,3 k €327,8 k €260,8 k €1,4 M €1,3 M €1,3 M €1,4 M €1,5 M €1,5 M €1,4 M €1,5 M €1,5 M €1,4 M €1,2 M €1,1 M €992,3 k €342,3 k €29,2 k €40,1 k €
Debts1,2 k €2,7 k €1,2 k €1,9 k €3,9 k €4,8 k €1,4 k €2,7 k €2,4 k €2,4 k €2,4 k €2,4 k €2,4 k €2,4 k €2,1 k €2,5 k €2,5 k €2,4 k €2,4 k €
Estimate

Indicative valuation

As an indication, this company is worth

between 1 M€ and 2,5 M€
See the valuation
Governance

Board of directors

Seen on filing of 31/12/2025 · 6 active · 51 ended

Active mandates

Leyla BUEKENS

Director · since 04 juin 2025 · until 04 juin 2031

Active
Denis LESOIL

Director · since 02 juin 2022 · until 02 juin 2028

Active
Nathalie CZERNIATYNSKI

Chairman of the board of directors · since 02 juin 2022 · until 02 juin 2028

Active
Patrick LECLERQ

Director · since 02 juin 2022 · until 02 juin 2028

Active
SAMBRELEASE

Director · since 02 juin 2022 · until 02 juin 2028 · 0430.467.687

Represented by Xavier DAIVE

Active
Société de Développement et de Participation du Bassin de Charleroi

Director · since 02 juin 2022 · until 02 juin 2028 · 0427.908.867

Represented by Grégoire DUPUIS

Active

Ended mandates

Joëlle LABILLOY

Director · since 16 janvier 2022 · until 02 juin 2028

Ended
Denis LESOIL

Director · since 02 juin 2020 · until 02 juin 2025

Ended
Denis LESOIL

Director · since 02 juin 2020 · until 02 juin 2028

Ended
6K venture capital

Director · since 03 juin 2019 · until 02 juin 2022 · 0809.505.580

Represented by Fabrice CAROSELLA

Ended
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Annual accounts

Full financial information

202520242023202220212020
Type of accountAbridged modelFull modelFull modelFull modelFull modelFull model
Start of the financial year01/01/202501/01/202401/01/202301/01/202201/01/202101/01/2020
Closing of the financial year31/12/202531/12/202431/12/202331/12/202231/12/202131/12/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date10/06/202611/06/202510/07/202407/06/202319/07/202225/06/2021
General meeting01/06/202602/06/202503/06/202405/06/202307/06/202207/06/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

20 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Abridged model31/12/202501/06/202610/06/2026FrenchPDF
Full model31/12/202402/06/202511/06/2025FrenchPDF
Full model31/12/202303/06/202410/07/2024FrenchPDF
Full model31/12/202205/06/202307/06/2023FrenchPDF
Full model31/12/202107/06/202219/07/2022FrenchPDF
Full model31/12/202007/06/202125/06/2021FrenchPDF
Full model31/12/201902/06/202015/06/2020FrenchPDF
Full model31/12/201803/06/201918/06/2019FrenchPDF
Full model31/12/201704/06/201811/06/2018FrenchPDF
Full model31/12/201606/06/201729/06/2017FrenchPDF
Full model31/12/201506/06/201628/07/2016FrenchPDF
Full model31/12/201401/06/201503/06/2015FrenchPDF
Full model31/12/201302/06/201425/06/2014FrenchPDF
Full model31/12/201227/05/201311/06/2013FrenchPDF
Full model31/12/201104/06/201208/06/2012FrenchPDF
Full model31/12/201006/06/201108/06/2011FrenchPDF
Full model31/12/200907/06/201018/06/2010FrenchPDF
Full model31/12/200802/06/200919/06/2009FrenchPDF
Full model31/12/200702/06/200829/08/2008FrenchPDF
Full model31/12/200604/06/200703/07/2007FrenchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 1 M€ and 2,5 M€

The detail comes with the Business plan: low and high bounds, the valuation bridge for each financial year, transaction multiples by sector and size, group valuation and exports.

Discover the Business plan
Disclaimer

Indicative estimate based on public sector multiples and the filed annual accounts. It is neither a certified valuation nor financial or investment advice.

Governance

Board of directors

Seen on filing of 31/12/2025 · 6 active · 51 ended

Active mandates

Leyla BUEKENS

Director · since 04 juin 2025 · until 04 juin 2031

Active
Denis LESOIL

Director · since 02 juin 2022 · until 02 juin 2028

Active
Nathalie CZERNIATYNSKI

Chairman of the board of directors · since 02 juin 2022 · until 02 juin 2028

Active
Patrick LECLERQ

Director · since 02 juin 2022 · until 02 juin 2028

Active
SAMBRELEASE

Director · since 02 juin 2022 · until 02 juin 2028 · 0430.467.687

Represented by Xavier DAIVE

Active
Société de Développement et de Participation du Bassin de Charleroi

Director · since 02 juin 2022 · until 02 juin 2028 · 0427.908.867

Represented by Grégoire DUPUIS

Active

Ended mandates

Joëlle LABILLOY

Director · since 16 janvier 2022 · until 02 juin 2028

Ended
Denis LESOIL

Director · since 02 juin 2020 · until 02 juin 2025

Ended
Denis LESOIL

Director · since 02 juin 2020 · until 02 juin 2028

Ended
6K venture capital

Director · since 03 juin 2019 · until 02 juin 2022 · 0809.505.580

Represented by Fabrice CAROSELLA

Ended
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates08/06/2026
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates15/04/2026
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates14/07/2025
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates30/10/2024
    DEMISSIONS, NOMINATIONS
    PDF
  • Registered office28/02/2024
    SIEGE SOCIAL
    PDF
  • Mandates02/06/2023
    DEMISSIONS, NOMINATIONS
    PDF
  • Mandates22/06/2022
    DENOMINATION - OBJET - DEMISSIONS, NOMINATIONS - STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, …)
    PDF
  • Mandates10/12/2021
    DEMISSIONS, NOMINATIONS - DIVERS
    PDF

Source: Belgian Official Gazette

Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

Timeline

  1. 2025
    Annual accounts 202532,7 k €↑
  2. 2024
    Annual accounts 2024-158,7 k €↓
  3. 2023
    Annual accounts 202337,6 k €↓
  4. 2022
    Annual accounts 202260,5 k €↑
  5. 2022
    Name changeStarter Fund
  6. 2021
    Annual accounts 202128,5 k €↑
  7. 2021
    Name changeFONDS DE CAPITAUX D'AMORCAGE
  8. 2020
    Annual accounts 2020-145,3 k €↓
  9. 2019
    Annual accounts 201915,5 k €↑
  10. 2018
    Annual accounts 20183,4 k €↓
  11. 2017
    Annual accounts 20179,2 k €↓
  12. 2016
    Annual accounts 201613,4 k €↓
  13. 2015
    Annual accounts 201520,8 k €↓
  14. 2014
    Annual accounts 201420,9 k €↑
  15. 2013
    Annual accounts 2013-76 k €↑
  16. 2012
    Annual accounts 2012-120,4 k €↑
  17. 2011
    Annual accounts 2011-253,8 k €↓
  18. 2010
    Annual accounts 201053,7 k €↑
  19. 2009
    Annual accounts 2009-385,9 k €↓
  20. 2008
    Annual accounts 2008115,8 k €↑
  21. 2007
    Annual accounts 200770,9 k €
  22. 29/10/1993
    IncorporationPublic limited company