ACTIVE

FONDS D'INVESTISSEMENT DANS LES ENTREPRISES CULTURELLES "St'art"

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Financial year 2025 · closed on 30/06/2025

Net result

255,4 k €

+171.0% YoY

Gross margin

390,7 k €

+164.4% YoY

Equity

35,2 M €

+0.7% YoY

Workforce

5,0 ETP

-9.1% YoY

What does FONDS D'INVESTISSEMENT DANS LES ENTREPRISES CULTURELLES "St'art" do?

FONDS D'INVESTISSEMENT DANS LES ENTREPRISES CULTURELLES "St'art" is a Public limited company incorporated in 2009. Its registered office is in Saint-Gilles. It employs on average 5,0 ETP workers (FTE).

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0812.088.849

Incorporation

27/05/2009

Legal form

Public limited company

Registered office

Avenue de la Toison d'Or 72
1060 Saint-Gilles · BruxellesSee on map

Contributed capital

37 750 000,00 €

Latest accounts

30/06/2025

Average workforce

5,0 ETP

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowHealthy social debts

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 16 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2012		2011		2010		2009
Income statement
Gross margin	390,7 k €	+164%	147,8 k €	-69.0%	476,9 k €	-40.5%	801,7 k €	+73.0%	463,5 k €	+36.9%	338,6 k €	+6.6%	317,6 k €		–		–		–		–		–		–		–		–		–
EBITDA	-276,9 k €	+47.3%	-525,4 k €	-187%	-183,3 k €	+47.4%	-348,2 k €	+15.5%	-412,2 k €	+24.1%	-543,0 k €	-23.1%	-441,0 k €	-237%	321,8 k €	+243%	-225,1 k €	+65.0%	-642,8 k €	-55.8%	-412,6 k €	+7.5%	-446,0 k €	-477%	-77,3 k €	+57.2%	-180,6 k €	-57.3%	-114,8 k €	-225%	92,0 k €
Operating result	-573,4 k €	+6.9%	-615,9 k €	-88.1%	-327,4 k €	-36.7%	-239,6 k €	+21.9%	-306,6 k €	+76.6%	-1,3 M €	+48.0%	-2,5 M €	-77.7%	-1,4 M €	+22.7%	-1,8 M €	-7.0%	-1,7 M €	-217%	-541,7 k €	+6.3%	-578,2 k €	-61.9%	-357,0 k €	-0.5%	-355,2 k €	-172%	-130,7 k €	-248%	88,4 k €
Net result	255,4 k €	+171%	-359,7 k €	-249%	-103,1 k €	-23.8%	-83,3 k €	+71.2%	-289,3 k €	-88.8%	-153,2 k €	+58.1%	-366,0 k €	-234%	272,7 k €	+140%	-684,8 k €	-32.9%	-515,4 k €	-185%	-181,0 k €	+37.4%	-289,1 k €	-2317%	13,0 k €	+106%	-236,3 k €	-446%	68,3 k €	-54.7%	150,8 k €
Balance sheet
Equity	35,2 M €	+0.7%	35,0 M €	+18.2%	29,6 M €	-0.3%	29,7 M €	-0.5%	29,9 M €	-0.8%	30,1 M €	-38.1%	48,6 M €	+19.3%	40,8 M €	+9.3%	37,3 M €	-5.3%	39,4 M €	-3.6%	40,9 M €	+145%	16,7 M €	+4.4%	16,0 M €	+0.1%	16,0 M €	-1.5%	16,2 M €	+59.8%	10,2 M €
Total assets	42,0 M €	-3.5%	43,5 M €	+23.7%	35,2 M €	+2.3%	34,4 M €	+0.6%	34,2 M €	-2.6%	35,1 M €	-36.1%	54,9 M €	+22.9%	44,7 M €	+15.1%	38,8 M €	-3.4%	40,2 M €	-2.3%	41,1 M €	+143%	16,9 M €	+5.2%	16,1 M €	-0.1%	16,1 M €	-1.2%	16,3 M €	+58.7%	10,3 M €
Cash	646,3 k €	-62.3%	1,7 M €	+89.4%	904,1 k €	-94.2%	15,6 M €	-26.1%	21,2 M €	+38.0%	15,3 M €	-12.1%	17,4 M €	+39.2%	12,5 M €	+57.3%	8,0 M €	-17.5%	9,7 M €	-46.8%	18,2 M €	+973%	1,7 M €	-2.9%	1,7 M €	+594%	251,1 k €	-65.9%	735,5 k €	+2593%	27,3 k €
Debts	6,7 M €	-21.3%	8,5 M €	+53.5%	5,5 M €	+20.3%	4,6 M €	+10.2%	4,2 M €	-16.8%	5,0 M €	-20.6%	6,3 M €	+61.2%	3,9 M €	+358%	852,3 k €	+87.1%	455,6 k €	+95.7%	232,8 k €	+222%	72,4 k €	-4.7%	75,9 k €	-5.1%	80,0 k €	+19.5%	67,0 k €	+93.0%	34,7 k €
Other
Workforce	5,0 ETP	-9.1%	5,5 ETP	-5.2%	5,8 ETP	+13.7%	5,1 ETP	+21.4%	4,2 ETP	0.0%	4,2 ETP	-31.1%	6,1 ETP	+29.8%	4,7 ETP	-13.0%	5,4 ETP	+1.9%	5,3 ETP	-3.6%	5,5 ETP	+10.0%	5,0 ETP	+51.5%	3,3 ETP	+6.5%	3,1 ETP	+47.6%	2,1 ETP	+600%	0,3 ETP

Estimate

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Governance

Board of directors

Seen on filing of 30/06/2025 · 10 active · 84 ended

Active mandates

Ruba SALEH

Director · since 08 octobre 2024 · until 07 décembre 2028

Active

Diane PLATTEEUW

Director · since 16 juin 2023 · until 07 décembre 2028

Active

finance&invest.brussels

Director · since 16 juin 2023 · until 07 décembre 2028 · 0426.936.986

Represented by Hugues VAN RENTERGHEM

Active

Frédéric DELCOR

Director · since 16 juin 2023 · until 07 décembre 2028

Active

Gaëtan SERVAIS

Vice-chairman of the board of directors · since 16 juin 2023 · until 07 décembre 2028

Active

Gwenaelle GRUSELLE

Director · since 16 juin 2023 · until 07 décembre 2028

Active

Jean LEBLON

Chairman of the board of directors · since 16 juin 2023 · until 07 décembre 2028

Active

Jean-Gilles LOWIES

Director · since 16 juin 2023 · until 07 décembre 2028

Active

Laurent FACK

Director · since 16 juin 2023 · until 07 décembre 2028

Active

Mélissa MILIOTO

Director · since 16 juin 2023 · until 07 décembre 2028

Active

Ended mandates

Josiane DOSTIE

Director · since 16 juin 2023 · until 25 juin 2024

Ended

Josiane DOSTIE

Director · since 16 juin 2023 · until 07 décembre 2028

Ended

finance&invest.brussels

Director · since 27 février 2014 · until 22 décembre 2014 · 0426.936.986

Represented by Serge VILAIN

Ended

finance&invest.brussels

Director · since 27 février 2014 · until 03 décembre 2015 · 0426.936.986

Ended

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Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model	Abridged model
Start of the financial year	01/07/2024	01/07/2023	01/07/2022	01/07/2021	01/07/2020	01/07/2019
Closing of the financial year	30/06/2025	30/06/2024	30/06/2023	30/06/2022	30/06/2021	30/06/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	22/12/2025	13/12/2024	19/12/2023	10/01/2023	28/01/2022	31/01/2021
General meeting	04/12/2025	05/12/2024	07/12/2023	01/12/2022	02/12/2021	03/12/2020
Currency of the financial year	EUR	EUR	EUR	EUR	EUR	EUR
NBB quality label	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls	Satisfying controls

Ratios

Financial ratios

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Filings

Annual accounts filings

16 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Abridged model	30/06/2025	04/12/2025	22/12/2025	French	PDF
Abridged model	30/06/2024	05/12/2024	13/12/2024	French	PDF
Abridged model	30/06/2023	07/12/2023	19/12/2023	French	PDF
Abridged model	30/06/2022	01/12/2022	10/01/2023	French	PDF
Abridged model	30/06/2021	02/12/2021	28/01/2022	French	PDF
Abridged model	30/06/2020	03/12/2020	31/01/2021	French	PDF
Abridged model	30/06/2019	05/12/2019	15/01/2020	French	PDF
Full model	30/06/2018	06/12/2018	14/01/2019	French	PDF
Full model	30/06/2017	07/12/2017	20/12/2017	French	PDF
Full model	30/06/2016	01/12/2016	21/12/2016	French	PDF
Full model	30/06/2015	03/12/2015	05/01/2016	French	PDF
Full model	30/06/2014	22/12/2014	08/01/2015	French	PDF
Full model	31/12/2012	06/06/2013	03/07/2013	French	PDF
Full model	31/12/2011	20/06/2012	19/07/2012	French	PDF
Full model	31/12/2010	06/06/2011	27/06/2011	French	PDF
Full model	31/12/2009	03/06/2010	12/07/2010	French	PDF

Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 25 M€ and 50 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 30/06/2025 · 10 active · 84 ended

Active mandates

Ruba SALEH

Director · since 08 octobre 2024 · until 07 décembre 2028

Active

Diane PLATTEEUW

Director · since 16 juin 2023 · until 07 décembre 2028

Active

finance&invest.brussels

Director · since 16 juin 2023 · until 07 décembre 2028 · 0426.936.986

Represented by Hugues VAN RENTERGHEM

Active

Frédéric DELCOR

Director · since 16 juin 2023 · until 07 décembre 2028

Active

Gaëtan SERVAIS

Vice-chairman of the board of directors · since 16 juin 2023 · until 07 décembre 2028

Active

Gwenaelle GRUSELLE

Director · since 16 juin 2023 · until 07 décembre 2028

Active

Jean LEBLON

Chairman of the board of directors · since 16 juin 2023 · until 07 décembre 2028

Active

Jean-Gilles LOWIES

Director · since 16 juin 2023 · until 07 décembre 2028

Active

Laurent FACK

Director · since 16 juin 2023 · until 07 décembre 2028

Active

Mélissa MILIOTO

Director · since 16 juin 2023 · until 07 décembre 2028

Active

Ended mandates

Josiane DOSTIE

Director · since 16 juin 2023 · until 25 juin 2024

Ended

Josiane DOSTIE

Director · since 16 juin 2023 · until 07 décembre 2028

Ended

finance&invest.brussels

Director · since 27 février 2014 · until 22 décembre 2014 · 0426.936.986

Represented by Serge VILAIN

Ended

finance&invest.brussels

Director · since 27 février 2014 · until 03 décembre 2015 · 0426.936.986

Ended

Shareholders

Ownership and network

Looking for more information about this company?

Try for 7 days

Belgian Official Gazette

Belgian Official Gazette publications

Mandates12/02/2026
DEMISSIONS, NOMINATIONS
PDF
Registered office14/04/2025
SIEGE SOCIAL
PDF
Mandates17/01/2025
DEMISSIONS, NOMINATIONS
PDF
Registered office16/01/2025
SIEGE SOCIAL
PDF
Capital / shares21/03/2024
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - CAPITAL, ACTIONS
PDF
Mandates26/06/2023
STATUTS (TRADUCTION, COORDINATION, AUTRES MODIFICATIONS, ) - OBJET - DEMISSIONS, NOMINATIONS
PDF
Mandates27/05/2022
DEMISSIONS, NOMINATIONS
PDF
Mandates09/09/2021
DEMISSIONS, NOMINATIONS
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

30/10/2025
nominationPaul VERWILGHEN — administrateur
2025
Annual accounts 2025255,4 k €↑
08/10/2024
nominationRuba SALEH — administratrice
2024
Annual accounts 2024-359,7 k €↓
08/03/2024
augmentation_capital
2023
Annual accounts 2023-103,1 k €↓
2022
Annual accounts 2022-83,3 k €↑
02/12/2021
reconductionRenaud WITMEUR — Président du Conseil d'Administration
02/12/2021
reconductionGaëtan SERVAIS — Vice-Président du Conseil d'Administration
02/12/2021
reconductionAndré-Marie PONCELET — Administrateur
02/12/2021
reconductionFrédéric DELCOR — Administrateur
02/12/2021
reconductionAlain JEUNEHOMME — Administrateur
02/12/2021
reconductionJean LEBLON — Administrateur
02/12/2021
reconductionOlivier MEES — Administrateur
02/12/2021
reconductionClio BRZAKALA — Administrateur
02/12/2021
reconductionAnne-Frangoise DE VETH — Administrateur
02/12/2021
reconductionRoby VAN DAELE — Administrateur
02/12/2021
reconductionJean-François RASKIN — Administrateur
02/12/2021
reconductionPierre HERMANT — Administrateur
02/12/2021
reconductionCéline Arnaud — réviseur
2021
Annual accounts 2021-289,3 k €↓
2020
Annual accounts 2020-153,2 k €↑
2019
Annual accounts 2019-366,0 k €↓
2018
Annual accounts 2018272,7 k €↑
2017
Annual accounts 2017-684,8 k €↓
2016
Annual accounts 2016-515,4 k €↓
2015
Annual accounts 2015-181,0 k €↑
2014
Annual accounts 2014-289,1 k €↓
2012
Annual accounts 201213,0 k €↑
2011
Annual accounts 2011-236,3 k €↓
2010
Annual accounts 201068,3 k €↓
2009
Annual accounts 2009150,8 k €
27/05/2009
IncorporationPublic limited company

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

FONDS D'INVESTISSEMENT DANS LES ENTREPRISES CULTURELLES "St'art"

Overview

What does FONDS D'INVESTISSEMENT DANS LES ENTREPRISES CULTURELLES "St'art" do?

Trend over 16 financial years

Indicative valuation

Board of directors

Other companies at this address

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Belgian Official Gazette publications

Similar companies

Similar companies

Timeline