ACTIVE

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

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Financial year 2025 · Closed on 30/06/2025

Net result255,4 k €+171,0 %over 1 year

Gross margin390,7 k €+164,4 %over 1 year

Equity35,2 M €+0,7 %over 1 year

Workforce5,0 ETP-9,1 %over 1 year

Identity

Source · BCE/KBO

FONDS D'INVESTISSEMENT DANS LES ENTREPRISES CULTURELLES "St'art" is a Public limited company incorporated in 2009. Its main activity is: Trusts, funds and similar financial entities. 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

Activities (NACE)

64300Trusts, funds and similar financial entities· main 64310Trusts, funds and similar financial entities

Joint committees (2)

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowHealthy social debts

Financials

Source · NBB, 16 filings

Trend over 16 financial years

	2025		2024		2023		2022		2021
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 €
EBITDA	-276,9 k €	+47.3%	-525,4 k €	-187%	-183,3 k €	+47.4%	-348,2 k €	+15.5%	-412,2 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 €
Net result	255,4 k €	+171%	-359,7 k €	-249%	-103,1 k €	-23.8%	-83,3 k €	+71.2%	-289,3 k €
Balance sheet
Equity	35,2 M €	+0.7%	35 M €	+18.2%	29,6 M €	-0.3%	29,7 M €	-0.5%	29,9 M €
Total assets	42 M €	-3.5%	43,5 M €	+23.7%	35,2 M €	+2.3%	34,4 M €	+0.6%	34,2 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 €
Debts	6,7 M €	-21.3%	8,5 M €	+53.5%	5,5 M €	+20.3%	4,6 M €	+10.2%	4,2 M €
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

Valuation

Indicative valuation

As an indication, this company is worth

between 25 M€ and 50 M€

See the valuation

Board of directors

Source · NBB, accounts to 30/06/2025

10 active · 15 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Ruba SALEH	Director08/10/2024 → 07/12/2028
Diane PLATTEEUW	Director16/06/2023 → 07/12/2028
finance&invest.brussels0426.936.986Represented by Hugues VAN RENTERGHEM	Director27/02/2014 → 07/12/2028
Frédéric DELCOR	Director27/05/2009 → 07/12/2028
Gaëtan SERVAIS	Vice-chairman of the board of directors26/09/2013 → 07/12/2028
Gwenaelle GRUSELLE	Director16/06/2023 → 07/12/2028
Jean LEBLON	Chairman of the board of directors16/06/2023 → 07/12/2028Director27/05/2009 → 01/12/2022ended
Jean-Gilles LOWIES	Director16/06/2023 → 07/12/2028
Laurent FACK	Director16/06/2023 → 07/12/2028
Mélissa MILIOTO	Director16/06/2023 → 07/12/2028

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Josiane DOSTIE	Director16/06/2023 → 07/12/2028
Clio BRZAKALA	Director20/06/2012 → 22/12/2014

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Avenue de la Toison d'Or 72 1060 Saint-Gilles

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Lego Architects● Active	0754.519.547
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SERVICE D'ACCOMPAGNEMENT SOCIAL AUX LOCATAIRES SOCIAUX - DIENST VOOR MAATSCHAPPELIJKE BEGELEIDING VAN SOCIALE HUURDERS● Active	0475.634.847
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Full financial information

Source · NBB

	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

Financial ratios

Source · NBB

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Annual accounts filings

Source · NBB, 16 filings

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

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.

Board of directors

Source · NBB, accounts to 30/06/2025

10 active · 15 ended

Active mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Ruba SALEH	Director08/10/2024 → 07/12/2028
Diane PLATTEEUW	Director16/06/2023 → 07/12/2028
finance&invest.brussels0426.936.986Represented by Hugues VAN RENTERGHEM	Director27/02/2014 → 07/12/2028
Frédéric DELCOR	Director27/05/2009 → 07/12/2028
Gaëtan SERVAIS	Vice-chairman of the board of directors26/09/2013 → 07/12/2028
Gwenaelle GRUSELLE	Director16/06/2023 → 07/12/2028
Jean LEBLON	Chairman of the board of directors16/06/2023 → 07/12/2028Director27/05/2009 → 01/12/2022ended
Jean-Gilles LOWIES	Director16/06/2023 → 07/12/2028
Laurent FACK	Director16/06/2023 → 07/12/2028
Mélissa MILIOTO	Director16/06/2023 → 07/12/2028

Ended mandates

Director	Mandates in this company	Period	Other mandatescurrentendedstruck offbankruptcies
Josiane DOSTIE	Director16/06/2023 → 07/12/2028
Clio BRZAKALA	Director20/06/2012 → 22/12/2014

Ownership and network

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Belgian Official Gazette publications

Source · Belgian Official Gazette

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

Similar companies

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

See the Business plan

Timeline

Source · CBE, NBB annual accounts

Year

Identity

Incorporation

Name

Registered office

Annual accounts

Filings16 filings

Mandates

Ruba SALEH

finance&invest.brussels

Diane PLATTEEUW

Jean-Gilles LOWIES

Mélissa MILIOTO

Jean LEBLON

Gwenaelle GRUSELLE

Frédéric DELCOR

Laurent FACK

Gaëtan SERVAIS

Josiane DOSTIE

Clio BRZAKALA

and 13 more mandates

20092010201120122013201420152016201720182019202020212022202320242025202620272028

Fonds d'investissement dans les entreprises culturelles (en abrégé "ST'ART")

Avenue de la Toison d'Or 72, 1060 Saint-GillesRue des Soeurs Noires 4, 7000 Mons

Director

Chairman of the board of directorsDirector

Director

Vice-chairman of the board of directors

Director

CurrentPlanned, not yet servedEndedAccounts filedToday

Registered offices

Source · NBB annual accounts, CBE

Registered address	Period	Source
Avenue de la Toison d'Or 72, 1060 Saint-GillesCurrent	accounts 2025	Accounts 2025 · 2025-00591027
Rue des Soeurs Noires 4, 7000 Mons	accounts 2022 → 2024	Accounts 2024 · 2024-00615134

Company names

Source · NBB annual accounts, CBE

Name	Period	Source
FONDS D'INVESTISSEMENT DANS LES ENTREPRISES CULTURELLES "St'art"Current		CBE
Fonds d'investissement dans les entreprises culturelles (en abrégé "ST'ART")	accounts 2022 → 2025	Accounts 2025 · 2025-00591027

Events

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 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 k €↑
2014
Annual accounts 2014-289,1 k €↓
2012
Annual accounts 201213 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

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

Overview

Identity

Financials

Valuation

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

Timeline

Registered offices

Company names

Events