Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
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Busy address KBO
35 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
WHITE FUND from Liège, company number BE0736705496, closed financial year 2025 with a result of € -326,406 after tax. For that financial year WHITE FUND recorded a gross margin of € -409,289 and equity of € 25.8 million. Compared with financial year 2024, the result moved from € -477,370 to € -326,406. The company made a loss. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on July 7, 2026.
€ 25.8 million
▲ 28% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -326,406
▲ 32 % less loss than in 2024
Profit after tax over the fiscal year.
€ 6 million
▲ 59% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -4.7 million.
People and assets in 2025
0
Average over the fiscal year, from the social balance sheet.
Debts at end 2025
None
No bank loans on the last day of the fiscal year.
€ 216,462
▼ 34% vs 2024
Supplier invoices still open on the last day of the fiscal year.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | - | - | € -724,551 | € -409,289 | ▲ € 315,262 |
| Profit after taxes | € -806,492 | € -793,532 | € -477,370 | € -326,406 | ▲ € 150,964 |
| Equity | € 9,888,015 | € 14,094,483 | € 20,117,113 | € 25,790,708 | ▲ 28% |
| Total debts | € 587,430 | € 393,116 | € 326,889 | € 216,462 | ▼ 34% |
| Cash | € 1,919,088 | € 3,106,264 | € 3,757,241 | € 5,973,052 | ▲ 59% |
| Retained profit | € -3,061,985 | € -3,855,517 | € -4,332,887 | € -4,659,292 | ▼ € 326,406 |
| Balance sheet total | € 10,475,445 | € 14,487,599 | € 20,444,002 | € 26,007,170 | ▲ 27% |
Key figures of WHITE FUND, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to WHITE FUND?
What happened at WHITE FUND in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- François FONTAINE stepped down as director. NBB
- NOSHAQ PARTNERS stepped down as director. NBB
- Pierre MERCENIER stepped down as director. NBB
- INVEST FOR JOBS stepped down as director. NBB
- Michel BAIJOT stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 326,406. Source: NBB ↗
- François FONTAINE became a director. NBB
- NOSHAQ PARTNERS became a director. NBB
In short
From € 806,492 loss in 2022 to € 326,406 loss in 2025.
A new publication or filing at WHITE FUND? We notify you, reason included.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The shares are held by NOSHAQ (31.8%), OGEO FUND (31.8%), INVEST FOR JOBS (15.9%), SFPI (13.2%), FINANCE&INVEST.BRUSSELS SA (2.7%) and CHAGRAL INVEST (2.7%). It owns 24.7% of EARLYTRACKS, 23.4% of MINZE, 22.8% of BINGLI and 10.3% of MOVEUP itself.
Directors
According to the 2025 annual accounts
François FONTAINE
Director
Also active at: COMETSAMBRE, COMET TRAITEMENTS, OncoDNA, EPIMEDE, PDC line Pharma, Newton Biocapital I, pricaf privée de droit belge, Curium PET Liège, EPICS THERAPEUTICS +6 more
since 2025 · until 2030
Director · represented by Gaëtan SERVAIS
Also active at: CAUTION MUTUELLE DES METIERS ET NEGOCES, Fonderies J. Marichal Ketin et Cie, DARDENNE, SOGECOM, VITAVERDE.BIO, HAEMERS Technologies, SPACEBEL, NOSHAQ VENTURE +169 more
since 2025 · until 2030
Pierre MERCENIER
Director
since 2025 · until 2030
Director · represented by Filip Goossens
Also active at: Fonderies J. Marichal Ketin et Cie, GALLER HOLDING, Century 21 Benelux, MICROMEGA - DYNAMICS, NOMICS, BEER PROJECT, IONICS, REIN4CED +9 more
since 2025 · until 2030
since 2025 · until 2030
Shareholders
31.8%
31.8%
15.9%
13.2%
2.7%
Participations
Establishments
Establishment units
Physical locations of this company
Rue Lambert-Lombard 3
4000 Liège
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 35 companies are registered at this address.
All companies at this address →CAUTION MUTUELLE DES METIERS ET NEGOCES same network
SOGECOM same network
€ -151,456 gross margin · 2025
NOSHAQ same network
€ 9 million revenue · 2025
NOSHAQ IMMO
€ 2.6 million revenue · 2025
NOSHAQ VENTURE same network
€ 89,352 revenue · 2025
+30 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0736.705.496
- VAT number
- BE 0736.705.496
- Registered office
- Rue Lambert-Lombard 3, 4000 Liège
- Names & denominations
- WHITE FUND
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 23 October 2019
- Peppol
- Active · Active since 20 Nov 2020
- Contact
- [email protected] +3242216211