Hi NickHK

You are absolutely right!
In VB6 the function CurDir does exactly what I tried to do with a
hidden FileListBox.
Many thanks for that hint and sorry for my confusion. I'm still a
beginner ;-)

I don't exactly know which path the function CurDir in VBA (e.g.
Excel) shows. I just now it's not the path entered in 'Start In:'.
If I understand you right: there is no possibility to read the path
entered in 'Start In:' within VBA because Excel doesn't know how it
(the worksheet) has been started (direct or via shortcut) because it's
not an executable.
Is this correct?

Many thanks
Stefan