Starter Fund
ActiveSummary
Starter Fund has been active since 1993 and the Belgian State Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €1.6m and a net result of €32,678. Equity remains stable across the filed fiscal years (±0.9% per year). The computed 12-month bankruptcy probability is 0.5% (low).
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Signals
This company filed its last 7 accounts on average 39 days before the deadline; the Belgian median for financial year 2024 is 4 days before the deadline, and 38% of all filings were late.
Checked, nothing found (2)
History
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Financials · fiscal year 2025, full schema
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Peer companies
Historical observationOf the 14,684 companies that looked in July 2024 the way this one looks now, 0.2% went bankrupt within 24 months and 96% are still going.
- Small
- 20 years or older
- solvency 30% or more
- a profit under 5% of the balance sheet
A further 0.2% stopped, but we cannot tell whether within those 24 months.
For this company itself Checked computes a bankruptcy probability of 0.5% over twelve months; the group does not contradict it.
How reliable is this rule?
Tested on the year before, without using that year itself: the groups of July 2023 gave each of the 497,058 companies of July 2024 its group's bankruptcy share. Expected: 1.5%; actually bankrupt within 24 months: 1.6%.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.4% |
| 3 | 0.5% | 0.5% |
| 4 | 0.6% | 0.7% |
| 5 | 0.8% | 0.9% |
| 6 | 1.2% | 1.3% |
| 7 | 1.5% | 1.6% |
| 8 | 1.7% | 1.7% |
| 9 | 2.7% | 2.8% |
| 10 | 5.3% | 5.7% |
The rule ranks well: a company that went bankrupt got a higher share than one that kept going in 74% of comparisons. The level follows the economy: in a year with more bankruptcies, the actual share is higher than the year before.
An observation about 14,684 comparable companies, not a prediction for this company. The sector does not count: the register keeps no sector for companies that stopped, so it would make the outcome look better than it was.
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Operating income70/76A | €5,025 | €54,850 | - | - | - | - |
| Non-recurring operating income76A | €5,025 | €54,850 | - | - | - | - |
| Operating charges60/66A | €4,392 | €6,614 | €7,352 | €11,232 | - | - |
| Services and other goods61 | €3,524 | €5,746 | €4,319 | €10,264 | - | - |
| Other operating charges640/8 | €868 | €868 | €961 | €968 | €998 | ▲ 3.1% |
| Non-recurring operating charges66A | - | - | €2,072 | - | - | - |
| Gross operating margin9900 | - | - | - | - | -€10,126 | - |
| Operating profit (loss)9901 | €633 | €48,236 | -€7,352 | -€11,232 | -€11,125 | ▲ 1.0% |
| Financial income75/76B | €28,104 | €118,620 | €112,856 | €50,411 | €74,893 | ▲ 48.6% |
| Recurring financial income75 | €11,139 | €12,787 | €45,727 | €50,411 | €45,879 | ▼ 9.0% |
| Income from financial fixed assets750 | €11,139 | €12,787 | €11,569 | €5,223 | - | - |
| Income from current assets751 | - | - | €34,158 | €45,155 | - | - |
| Other financial income752/9 | - | - | - | €33 | - | - |
| Non-recurring financial income76B | €16,965 | €105,833 | €67,129 | - | €29,014 | - |
| Financial charges65/66B | €199 | €106,380 | €67,876 | €197,836 | €31,090 | ▼ 84.3% |
| Recurring financial charges65 | €199 | €547 | €747 | €807 | €989 | ▲ 22.6% |
| Other financial charges652/9 | €199 | €547 | €747 | €807 | - | - |
| Non-recurring financial charges66B | - | €105,833 | €67,129 | €197,029 | €30,101 | ▼ 84.7% |
| Profit (loss) for the period before taxes9903 | €28,538 | €60,476 | €37,628 | -€158,657 | €32,678 | ▲ 121% |
| Income taxes67/77 | - | - | - | - | €0 | - |
| Profit (loss) for the period9904 | €28,538 | €60,476 | €37,628 | -€158,657 | €32,678 | ▲ 121% |
| Profit (loss) for the period to be appropriated9905 | €28,538 | €60,476 | €37,628 | -€158,657 | €32,678 | ▲ 121% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.7m | €1.7m | €1.8m | €1.6m | €1.6m | ▲ 1.9% |
| Fixed assets21/28 | €304,693 | €295,891 | €236,619 | €32,823 | €207,267 | ▲ 531% |
| Financial fixed assets28 | €304,693 | €295,891 | €236,619 | €32,823 | €207,267 | ▲ 531% |
| Companies linked by participating interests282/3 | €51,240 | €51,240 | €51,240 | €1,240 | - | - |
| Participating interests282 | €51,240 | €51,240 | €51,240 | €1,240 | - | - |
| Other financial fixed assets284/8 | €253,453 | €244,651 | €185,379 | €31,583 | - | - |
| Amounts receivable and cash guarantees285/8 | €253,453 | €244,651 | €185,379 | €31,583 | - | - |
| Current assets29/58 | €1.4m | €1.4m | €1.5m | €1.6m | €1.4m | ▼ 9.2% |
| Amounts receivable within one year40/41 | €1,839 | €12,391 | €49,354 | €24,500 | €6,624 | ▼ 73.0% |
| Trade receivables40 | €1,839 | €12,391 | €40,226 | €836 | €1,904 | ▲ 128% |
| Other amounts receivable41 | - | - | €9,128 | €23,664 | €4,720 | ▼ 80.1% |
| Current investments50/53 | - | - | €1.2m | €1.2m | €900,000 | ▼ 25.0% |
| Other investments51/53 | - | - | €1.2m | €1.2m | - | - |
| Cash at bank and in hand54/58 | €1.3m | €1.4m | €260,797 | €327,815 | €499,294 | ▲ 52.3% |
| Deferred charges and accrued income490/1 | - | - | €3,731 | €13,729 | €16,170 | ▲ 17.8% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.7m | €1.7m | €1.8m | €1.6m | €1.6m | ▲ 1.9% |
| Equity10/15 | €1.7m | €1.7m | €1.7m | €1.6m | €1.6m | ▲ 2.1% |
| Contributions10/11 | €2.1m | €2.1m | €2.1m | €2.1m | €2.1m | = |
| Capital10 | €2.1m | €2.1m | €2.1m | €2.1m | €2.1m | = |
| Issued capital100 | €2.1m | €2.1m | €2.1m | €2.1m | €2.1m | = |
| Reserves13 | €42,500 | €42,500 | €42,500 | €42,500 | €42,500 | = |
| Non-distributable reserves130/1 | €42,500 | €42,500 | €42,500 | €42,500 | €42,500 | = |
| Legal reserve130 | €42,500 | €42,500 | €42,500 | €42,500 | €42,500 | = |
| Profit (loss) carried forward14 | -€458,821 | -€398,345 | -€360,715 | -€519,372 | -€486,693 | ▲ 6.3% |
| Amounts payable17/49 | €3,874 | €1,936 | €1,216 | €8,239 | €6,048 | ▼ 26.6% |
| Amounts payable within one year42/48 | €3,874 | €1,936 | €1,216 | €2,662 | €1,197 | ▼ 55.0% |
| Trade debts44 | €1,936 | €1,936 | €1,216 | €2,662 | €1,197 | ▼ 55.0% |
| Suppliers440/4 | €1,936 | €1,936 | €1,216 | €2,662 | €1,197 | ▼ 55.0% |
| Other amounts payable47/48 | €1,938 | - | - | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €5,577 | €4,851 | ▼ 13.0% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €28,538 | €60,476 | €37,628 | -€158,657 | €32,678 | ▲ 121% |
| Operating cash flow (approximation) | €28,538 | €60,476 | €37,628 | -€158,657 | €32,678 | ▲ 121% |
| Investment in fixed assets (approximation) | - | €8,802 | €59,272 | €203,796 | -€174,444 | ▼ 186% |
| Change in cash | - | €56,788 | -€1.1m | €67,018 | €171,479 | ▲ 156% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
14-07
State Gazette act
Appointment: Nathalie Czerniatynski (chair of the board)Permanent representative: Michaël De Ridder3 facts ▸
- Board meeting, 15-05-2025
- Director appointment, Nathalie Czerniatynski (chair of the board)
- Permanent representative, Michaël De Ridder
30-10
State Gazette act
Reappointment: DGST (statutory auditor)2 facts ▸
- Board meeting, 03-06-2024
- Auditor reappointment, DGST
28-02
State Gazette act
Registered officeRegistered-office move2 facts ▸
- Board meeting, 18-12-2023
- Registered-office move, Quai Arthur Rimbaud, 6, 6000, Charleroi
02-06
State Gazette act
Resignations & appointmentsPower of attorney2 facts ▸
- Board meeting, 21-04-2023
- Power of attorney, SA Sambrelease
Show earlier events
10-12
State Gazette act
Appointments: Anne Prignon (managing director) and SRL DGST & Partners - Réviseurs d'entreprises (statutory auditor)Permanent representatives: Michaë De Ridder and Fabrice Carosella · Power of attorney7 facts ▸
- Board meeting, 12-10-2021
- Director appointment, Anne Prignon (managing director)
- Power of attorney, Anne Prignon
- Power of attorney, Anne Prignon
- Auditor appointment, SRL DGST & Partners - Réviseurs d'entreprises (statutory auditor)
- Permanent representative, Michaë De Ridder
- Permanent representative, Fabrice Carosella
07-09
State Gazette act
Reappointment: SRL DGST & Partners (company auditor)2 facts ▸
- General meeting, 07-06-2021
- Auditor reappointment, SRL DGST & Partners (company auditor)
15-07
State Gazette act
Appointments: Denis LESOIL (director) and 6k Venture Capital (director)Resignations: Emilien WATHELET (director) and Fonds de capital à risque - Objectif n°1 (director) · Rectification6 facts ▸
- General meeting, 02-06-2020
- Director appointment, Denis LESOIL (director)
- Director resignation, Emilien WATHELET (director)
- Director appointment, 6k Venture Capital (director)
- Director resignation, Fonds de capital à risque - Objectif n°1 (director)
- Rectification, Rectification de l'erreur de publication du 9 juillet 2019 : remplacement de l'administrateur SA SAMBRINVEST par la SA SAMBRELEASE
09-07
State Gazette act
Reappointments: Patrick LECLERCQ, Nathalie CZERNIATINSKY and 5 othersPermanent representatives: Anne PRIGNON, Philippe TIELEMANS and Fabrice CAROSELLA12 facts ▸
- General meeting, 03-06-2019
- Director reappointment, Patrick LECLERCQ (director)
- Director reappointment, Nathalie CZERNIATINSKY (director)
- Director reappointment, Alain LEPERE (director)
- Director reappointment, SA SAMBRINVEST (director)
- Permanent representative, Anne PRIGNON
- Director reappointment, SA SAMBRINVEST (director)
- Permanent representative, Philippe TIELEMANS
- Director reappointment, SA Fonds de Capital à Risque - Objectif 1 (director)
- Permanent representative, Fabrice CAROSELLA
- Director reappointment, Emilien WATELET (director)
- Director reappointment, Perrine CONTI (director)
10-07
State Gazette act
Reappointment: Fondu, Pyl, Stassin & Cie (statutory auditor)Permanent representative: Philippe Tielemans · Resignations: Bernard Fierens Gevaert (permanent representative) and Philippe Chèvremont (director) · Appointments: Emilien Watelet (director) and FONDS DE CAPITAL A RISQUE Objectif n°1 (director)7 facts ▸
- General meeting, 04-06-2018
- Auditor reappointment, Fondu, Pyl, Stassin & Cie
- Permanent representative, Philippe Tielemans
- Director resignation, Bernard Fierens Gevaert (permanent representative)
- Director appointment, Emilien Watelet (director)
- Director resignation, Philippe Chèvremont (director)
- Director appointment, FONDS DE CAPITAL A RISQUE Objectif n°1 (director)
20-07
State Gazette act
Resignations: Joëlle LABILLOY (director) and Nathalie DESPLAT (director)Appointments: Perrine CONTI, Patrick LECLERCQ and Bernard LIEBIN6 facts ▸
- Board meeting, 25-03-2016
- Director resignation, Joëlle LABILLOY (director)
- Director appointment, Perrine CONTI (director)
- Director resignation, Nathalie DESPLAT (director)
- Director appointment, Patrick LECLERCQ (director)
- Director appointment, Bernard LIEBIN (observateur)
21-10
State Gazette act
Reappointment: Fondu, Pyi, Stassin & Cie (statutory auditor)Resignation: Eléonore DUBOIS (director) · Appointments: Joëlle LABILLOY (director) and Bernard LIEBIN (observateur) · Mandate compensation6 facts ▸
- General meeting, 01-06-2015
- Auditor reappointment, Fondu, Pyi, Stassin & Cie (statutory auditor)
- Mandate compensation, Fondu, Pyi, Stassin & Cie
- Director resignation, Eléonore DUBOIS (director)
- Director appointment, Joëlle LABILLOY (director)
- Director appointment, Bernard LIEBIN (observateur)
11-07
State Gazette act
Reappointments: Nathalie DESPLAT, Philippe CHEVREMONT and 5 othersAppointment: Renaud HATTIEZ (observateur)9 facts ▸
- General meeting
- Director reappointment, Nathalie DESPLAT (director)
- Director reappointment, Philippe CHEVREMONT (director)
- Director reappointment, Alain LEPERE (director)
- Director reappointment, SA SAMBRINVEST (director)
- Director reappointment, SA SAMBRELEASE (director)
- Director reappointment, Renier de CARITAT (director)
- Director reappointment, Eléonore DUBOIS (director)
- Director appointment, Renaud HATTIEZ (observateur)
29-07
State Gazette act
Reappointment: Fondu, Pyl, Stassin & Cie (statutory auditor)2 facts ▸
- General meeting, 06-06-2011
- Auditor reappointment, Fondu, Pyl, Stassin & Cie (statutory auditor)
30-07
State Gazette act
Resignation: Denis TILLIER (représentant permanent de la sa sambrelease)Appointment: Bernard FIERENS GEVAERT (représentant permanent de la sa sambrelease)3 facts ▸
- General meeting, 02-06-2009
- Director resignation, Denis TILLIER (représentant permanent de la sa sambrelease)
- Director appointment, Bernard FIERENS GEVAERT (représentant permanent de la sa sambrelease)
03-01
State Gazette act
Capital & shares · Purpose · Statutes amendmentCapital · Capital conversion · Board composition4 facts ▸
- Capital, €2.067.431,99
- Statutes amendment
- Capital conversion, 2067431.99, 83400000.00
- Board composition, 6 ans au plus, assemblée générale
05-04
State Gazette act
Resignation: Lucyan PAPIERNIK (director)Appointment: Nathalie DESPLAT (director)6 facts ▸
- Board meeting, 04-01-2006
- Director resignation, Lucyan PAPIERNIK (director)
- Director appointment, Nathalie DESPLAT (director)
- Board composition, SA SAMBRINVEST (director)
- Board composition, SA SAMBRELEASE (director)
- Board composition, SA FONDS DE CAPITAL A RISQUE - Objectif n° 1 (director)
About the unread acts
Of the 19 Belgian State Gazette acts we know for this company, 17 have been read. The other 2 have not been read yet: what they contain is neither established nor disproved here.
Directors · office · real estate
Board 1
12 not recently confirmed
Day-to-day management 1
Permanent representatives 1
Statutory auditor 1
Other functions 2
Not every act has been read: a resignation may be missing here
1 establishment unit
1 parcel
| Parcel (capakey) | Region | Area | Buildings | Height / fl. |
|---|---|---|---|---|
| 52011D0139/00D005 | Wallonia | 656 m² | 1 · 206 m² | 20.9 m · 6 fl. |
Linked by address, not proof of ownership
Mandate history
- Board
- Day-to-day management
- Permanent representative
- Statutory auditor
- Other function
- not recently confirmed
- began earlier
| Name | Functions and periods |
|---|---|
| Nathalie Czerniatynski |
|
| Anne PRIGNON |
|
| DGST |
|
| Alain LEPERE |
|
| Renier de CARITAT |
|
| SA SAMBRELEASE |
|
| Sambrinvest SA |
|
| Patrick LECLERCQ |
|
| Perrine CONTI |
|
| Emilien WATELET |
|
| FONDS DE CAPITAL A RISQUE Objectif n°1 |
|
| 6K Venture Capital |
|
| Nathalie CZERNIATINSKY |
|
| SA Fonds de Capital à Risque - Objectif 1 |
|
| Denis LESOIL |
|
| Renaud HATTIEZ |
|
| Bernard LIEBIN |
|
| DGST & Partners - Réviseurs d'entreprises SRL |
|
| Fondu, Pyi, Stassin & Cie |
|
| Emilien WATHELET |
|
| Fonds de capital à risque - Objectif n°1 |
|
| Bernard FIERENS GEVAERT |
|
| Philippe CHEVREMONT |
|
| Joëlle LABILLOY |
|
| Nathalie DESPLAT |
|
| Eléonore DUBOIS |
|
| Fondu, Pyl, Stassin & Cie |
|
| Bernard FIERENS GEVAERT |
|
| Denis TILLIER |
|
| Lucyan PAPIERNIK |
|
Articles of association
Full purpose
La société a pour objet la constitution d'un fonds spécifique de financement d'ensemencement sous toutes les formes permises par la loi prises de participations en capital, prêts ordinaires, prêts subordonnés, avances, prêts obligataires convertibles Ce fonds est destiné à financer le démarrage ou le développement de petites entreprises en phase d'amorçage en assurant le financement d'investissements et du besoin en fonds de roulement. Les entreprises nouvelles ou embryonnaires qui nécessitent une aide financière ou de gestion pour atteindre le stade de développement leur permettant de rassembler le capital à risque et/ou les formes de financement traditionnelles sont la cible privilégiée de ce Fonds de Capitaux d'Amorçage Outre l'apport de moyens financiers, le Fonds aura également pour mission d'encadrer les petites et moyennes entreprises bénéficiaires au niveau de la gestion et du développement de leurs activités, en vue d'assurer toutes les garanties de réussite de leur volonté d'entreprendre Les interventions de Fonds de Capitaux d'Amorçage devront répondre aux critères d'intervention suivants: -les entreprises devront avoir leur siège social et/ou leur siège d'exploitation dans les arrondissements de Charleroi et Thuin ou Communauté de Charleroi Val de Sambre et Sud Hainaut, -occuper mois de vingt-cing (25) travailleurs; -répondre à un critère de rentabilité et de viabilité, -les interventions seront limitées, compte tenu de la nature des projets susceptibles d'être introduits, mais de toute façon inférieures ou égales à deux cent cinquante mille euros (250 000,00 €) La société a également pour objet l'étude, le conseil, la consultation, l'expertise, l'ingénierie et toutes prestations de services dans le cadre des activités prédécrites Elle peut participer à toutes entreprises et opérations se rapportant directement ou indirectement à son objet social ou de nature à favoriser la réalisation et le développement de ses affaires, et notamment s'ıntéresser par voie d'apport, de souscription, de cession, de participation, de fusion, d'intervention financière ou autrement dans toutes sociétés, associations et entreprses, tant en Belgique qu'à l'étranger. La société peut être administrateur, gérant ou liquidateur
Structure & network
Owners and holdings
2 owners · 1 holdingOwners 2
- 48.8%
-
1%
Holdings 1
-
16.39%
According to the 2025 annual accounts of Starter Fund and those of the other companies, the acts in the Belgian Gazette and the LEI register. The register of ultimate beneficial owners (UBO) is not public: who ultimately stands behind a natural person or a foreign parent is not stated here. A company that does not fill in these statements, or need not, is missing.
Connections & network
25 connected companiesShow 21 more companies with a shared director
Capital and shareholders
- 03-01-2007 Capital stated in the act · 2,067,431.99 EUR · 83,400 shares
Identification & contact
Register as of 27 September 2026 · Peppol Directory
Scores and ratios are computed by Checked and are not a credit decision.