ACTIVE

SD

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Financial year 2026 · closed on 31/03/2026

Net result

2,3 k €

+62.8% YoY

Gross margin

18,9 k €

+163.0% YoY

Equity

52,3 k €

+4.7% YoY

What does SD do?

SD is a Private company with limited liability incorporated in 2013. Its main activity is: Postal activities under universal service obligation. Its registered office is in Bruxelles.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0535.592.032

Incorporation

11/06/2013

Legal form

Private company with limited liability

Registered office

Avenue de Stalingrad 52
1000 Bruxelles · BruxellesSee on map

Contributed capital

100,00 €

Latest accounts

31/03/2026

Activities (NACE)

53100Postal activities under universal service obligation· main 53100Postal activities under universal service obligation 53200Other postal and courier activities 53200Other postal and courier activities

Signals

ProfitableSolid equityLow riskGood liquidityPositive cashflowPositive EBITDA

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Health score

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✦ Verdict · Analyst summary

Financials

Trend over 9 financial years

	2026		2025		2024		2023		2022		2021		2020		2019		2018
Income statement
Gross margin	18,9 k €	+163%	7,2 k €	-59.0%	17,5 k €	+15.1%	15,3 k €	+26.5%	12,1 k €	-24.2%	15,9 k €	+239%	4,7 k €	-60.9%	12 k €	+495%	2 k €
EBITDA	15,3 k €	+115%	7,1 k €	-58.9%	17,3 k €	+16.8%	14,8 k €	+28.2%	11,6 k €	-27.3%	15,9 k €	+239%	4,7 k €	-59.4%	11,6 k €	+591%	1,7 k €
Operating result	8,4 k €	+88.7%	4,5 k €	-70.8%	15,3 k €	+56.8%	9,8 k €	-15.4%	11,6 k €	-27.3%	15,9 k €	+239%	4,7 k €	+32.0%	3,6 k €	+425%	-1,1 k €
Net result	2,3 k €	+62.8%	1,4 k €	-85.6%	9,9 k €	+79.2%	5,5 k €	-51.5%	11,4 k €	-28.3%	15,9 k €	+239%	4,7 k €	+32.0%	3,6 k €	+425%	-1,1 k €
Balance sheet
Equity	52,3 k €	+4.7%	50 k €	+2.9%	48,5 k €	+25.7%	38,6 k €	+16.7%	33,1 k €	+52.6%	21,7 k €	+275%	5,8 k €	+428%	1,1 k €	+145%	-2,5 k €
Total assets	97,3 k €	+33.3%	73 k €	+34.5%	54,3 k €	+23.3%	44 k €	+4.5%	42,1 k €	+50.9%	27,9 k €	+0.7%	27,7 k €	-70.9%	95 k €	+56.0%	60,9 k €
Cash	14,8 k €	+135%	6,3 k €	-2.7%	6,5 k €	-41.1%	11 k €	-9.8%	12,2 k €	+23.9%	9,8 k €	+607%	1,4 k €		–		–
Debts	45 k €	+95.5%	23 k €	+302%	5,7 k €	+6.5%	5,4 k €	-40.3%	9 k €	+45.0%	6,2 k €	-71.7%	21,9 k €	-76.7%	93,9 k €	+48.2%	63,4 k €

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 31/03/2026 · 1 active · 1 ended

Active mandates

EROL BAYSAL

Mandate

Active

Ended mandates

Mediha Elbir

Mandate

Ended

At this address

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Annual accounts

Full financial information

	2026	2025	2024	2023	2022	2021
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro model
Start of the financial year	01/04/2025	01/04/2024	01/04/2023	01/04/2022	01/04/2021	01/04/2020
Closing of the financial year	31/03/2026	31/03/2025	31/03/2024	31/03/2023	31/03/2022	31/03/2021
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	03/09/2026	03/06/2025	24/06/2024	25/06/2023	14/09/2022	21/02/2022
General meeting	31/08/2026	31/05/2025	31/05/2024	23/06/2023	14/09/2022	30/09/2021
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

Ratios

Financial ratios

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Filings

Annual accounts filings

9 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/03/2026	31/08/2026	03/09/2026	French	PDF
Micro model	31/03/2025	31/05/2025	03/06/2025	French	PDF
Micro model	31/03/2024	31/05/2024	24/06/2024	French	PDF
Micro model	31/03/2023	23/06/2023	25/06/2023	French	PDF
Micro model	31/03/2022	14/09/2022	14/09/2022	French	PDF
Micro model	31/03/2021	30/09/2021	21/02/2022	French	PDF
Micro model	31/03/2020	30/09/2020	04/02/2021	French	PDF
Abridged model	31/03/2019	30/09/2019	04/02/2021	French	PDF
Abridged model	31/03/2018	30/06/2019	29/08/2019	French	PDF

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 31/03/2026 · 1 active · 1 ended

Active mandates

EROL BAYSAL

Mandate

Active

Ended mandates

Mediha Elbir

Mandate

Ended

Shareholders

Ownership and network

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Belgian Official Gazette

Belgian Official Gazette publications

Mandates11/01/2024
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
PDF
Registered office12/05/2021
SIEGE SOCIAL
PDF
Mandates12/10/2017
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
PDF
Mandates05/05/2014
DEMISSIONS, NOMINATIONS
PDF
Mandates03/04/2014
CAPITAL, ACTIONS - DEMISSIONS, NOMINATIONS
PDF
Other20/06/2013
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

2026
Annual accounts 20262,3 k €↑
2025
Annual accounts 20251,4 k €↓
2024
Annual accounts 20249,9 k €↑
2023
Annual accounts 20235,5 k €↓
2022
Annual accounts 202211,4 k €↓
2021
Annual accounts 202115,9 k €↑
2020
Annual accounts 20204,7 k €↑
2019
Annual accounts 20193,6 k €↑
2018
Annual accounts 2018-1,1 k €
11/06/2013
IncorporationPrivate company with limited liability

10/15	1 240 000	1 180 000	1 050 000
70	8 630 000	8 120 000	7 940 000
9904	412 000	388 000	301 000
17/49	2 970 000	3 140 000	3 380 000
9087	24,3	23,1	21,8

SD

Overview

What does SD do?

Trend over 9 financial years

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