ACTIVE

PULSAR

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Financial year 2025 · closed on 31/08/2025
Net result
382,7 €
-98.2% YoY
Revenue
591,3 k €
-11.0% YoY
Equity
193 k €
+0.2% YoY

What does PULSAR do?

PULSAR is a Private company with limited liability incorporated in 2014. Its main activity is: Other postal and courier activities. Its registered office is in Ixelles.

Legal situation
● Normal situation
BCE/KBO no. / VAT
BE 0505.865.589
Incorporation
02/12/2014
Legal form
Private company with limited liability
Registered office
Avenue Louise 54
1050 Ixelles · BruxellesSee on map
Contributed capital
12 400,00 €
Latest accounts
31/08/2025
Activities (NACE)
53200Other postal and courier activities· main
Signals
ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDAHealthy social debts
View the BCE/KBO Public Search record →
Health score
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Recommended credit limit
✦ Verdict · Analyst summary
Financials

Trend over 10 financial years

2025202420232022202120202019201820172016
Income statement
Revenue591,3 k €664,7 k €508,4 k €574,6 k €602,8 k €557,8 k €455,3 k €398,1 k €306,3 k €189,1 k €
EBITDA32,1 k €26,7 k €51,1 k €43,6 k €22,4 k €43,3 k €42,1 k €65,6 k €54,2 k €58,2 k €
Operating result9,2 k €25,2 k €36,1 k €27,9 k €1,5 k €22,5 k €18,6 k €46,4 k €33,5 k €22 k €
Net result382,7 €20,9 k €24,3 k €21,3 k €4,1 k €18,3 k €14,8 k €41,4 k €33,4 k €7,6 k €
Balance sheet
Equity193 k €192,6 k €171,7 k €141,2 k €119,9 k €115,9 k €97,5 k €82,7 k €47,3 k €13,8 k €
Total assets363,2 k €283,8 k €246 k €239,9 k €256,4 k €267,6 k €269,7 k €303,2 k €113,7 k €86,5 k €
Cash871,4 €1,3 k €18,5 k €16,7 k €11,3 €38,9 k €76,5 k €49,3 k €25,9 k €4,3 k €
Debts170,3 k €91,2 k €74,2 k €98,6 k €136,5 k €151,7 k €172,1 k €220,5 k €66,4 k €72,7 k €
Other
Workforce–––––––––2,0 ETP
Estimate

Indicative valuation

As an indication, this company is worth

between 0 € and 100 k€
See the valuation
Governance

Board of directors

Seen on filing of 31/08/2025 · 1 active

Active mandates

CLAUDIU BALAN MARDALE

Mandate

Active
At this address

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Annual accounts

Full financial information

202520242023202220212020
Type of accountMicro modelMicro modelMicro modelMicro modelMicro modelMicro model
Start of the financial year01/09/202401/09/202301/09/202201/09/202101/09/202001/09/2019
Closing of the financial year31/08/202531/08/202431/08/202331/08/202231/08/202131/08/2020
Length of the financial year12 months12 months12 months12 months12 months12 months
Filing date30/03/202604/04/202502/04/202424/04/202330/03/202225/03/2021
General meeting04/02/202605/02/202507/02/202401/02/202302/02/202203/02/2021
Currency of the financial yearEUREUREUREUREUREUR
NBB quality labelSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controlsSatisfying controls
Ratios

Financial ratios

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Filings

Annual accounts filings

10 filings with the NBB

ModelClosingGeneral meetingFiledLanguageDocument
Micro model31/08/202504/02/202630/03/2026FrenchPDF
Micro model31/08/202405/02/202504/04/2025FrenchPDF
Micro model31/08/202307/02/202402/04/2024FrenchPDF
Micro model31/08/202201/02/202324/04/2023FrenchPDF
Micro model31/08/202102/02/202230/03/2022FrenchPDF
Micro model31/08/202003/02/202125/03/2021FrenchPDF
Micro model31/08/201905/02/202030/03/2020FrenchPDF
Micro model31/08/201806/02/201928/03/2019FrenchPDF
Micro model31/08/201707/02/201827/02/2018FrenchPDF
Abridged model31/08/201601/02/201728/02/2017FrenchPDF
Estimate

Indicative valuation

Order of magnitude

As an indication, this company is worth

between 0 € and 100 k€

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 31/08/2025 · 1 active

Active mandates

CLAUDIU BALAN MARDALE

Mandate

Active
Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

  • Mandates09/06/2021
    SIEGE SOCIAL - CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
    PDF
  • Mandates08/01/2021
    CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
    PDF
  • Other04/12/2014
    RUBRIQUE CONSTITUTION (NOUVELLE PERSONNE MORALE, OUVERTURE SUCCURSALE, ETC...)
    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

Timeline

  1. 2025
    Annual accounts 2025382,7 €↓
  2. 2024
    Annual accounts 202420,9 k €↓
  3. 2023
    Annual accounts 202324,3 k €↑
  4. 2022
    Annual accounts 202221,3 k €↑
  5. 2021
    Annual accounts 20214,1 k €↓
  6. 2020
    Annual accounts 202018,3 k €↑
  7. 2019
    Annual accounts 201914,8 k €↓
  8. 2018
    Annual accounts 201841,4 k €↑
  9. 2017
    Annual accounts 201733,4 k €↑
  10. 2016
    Annual accounts 20167,6 k €
  11. 02/12/2014
    IncorporationPrivate company with limited liability