ACTIVE

SD2MH

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Financial year 2025 · closed on 31/12/2025

Net result

-10,8 k €

-161.1% YoY

Gross margin

-5,7 k €

-125.9% YoY

Equity

60,5 k €

-15.1% YoY

What does SD2MH do?

SD2MH is a Private limited company incorporated in 2011. Its main activity is: Market research and public opinion polling. Its registered office is in Koekelberg.

Legal situation

● Normal situation

BCE/KBO no. / VAT

BE 0838.989.325

Incorporation

02/09/2011

Legal form

Private limited company

Registered office

Avenue Seghers 83
1081 Koekelberg · BruxellesSee on map

Contributed capital

12 400,00 €

Latest accounts

31/12/2025

Activities (NACE)

73200Market research and public opinion polling· main 73200Market research and public opinion polling 46900Non-specialised wholesale trade 46900Non-specialised wholesale trade 70200Management consultancy activities 70220Business and other management consultancy activities

Signals

Solid equityLow riskGood liquidity

View the BCE/KBO Public Search record →

Health score

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✦ Verdict · Analyst summary

Financials

Trend over 14 financial years

	2025		2024		2023		2022		2021		2020		2019		2018		2017		2016		2015		2014		2013		2012
Income statement
Gross margin	-5,7 k €	-126%	21,9 k €	+138%	-57,9 k €	-1296%	4,8 k €	-95.2%	101,1 k €	+66.2%	60,8 k €	+156%	23,8 k €	-32.5%	35,2 k €	+11.5%	31,6 k €	+461%	-8,7 k €	-145%	19,4 k €	+152%	7,7 k €	+18.7%	6,5 k €	-41.8%	11,2 k €
EBITDA	-7 k €	-134%	20,4 k €	+134%	-59,4 k €	-1891%	3,3 k €	-96.6%	97,3 k €	+63.5%	59,5 k €	+165%	22,4 k €	-34.9%	34,4 k €	+13.7%	30,3 k €	+367%	-11,3 k €	-161%	18,5 k €	+170%	6,9 k €	+14.3%	6 k €	-40.9%	10,2 k €
Operating result	-8,3 k €	-144%	19 k €	+131%	-60,6 k €	-1927%	3,3 k €	-96.6%	96,7 k €	+64.1%	58,9 k €	+169%	21,9 k €	-34.4%	33,3 k €	+14.6%	29,1 k €	+319%	-13,3 k €	-181%	16,3 k €	+264%	4,5 k €	-14.9%	5,3 k €	-39.1%	8,7 k €
Net result	-10,8 k €	-161%	17,7 k €	+128%	-62,1 k €	-8797%	-698,3 €	-101%	69,5 k €	+71.1%	40,6 k €	+205%	13,3 k €	-41.4%	22,7 k €	+10.8%	20,5 k €	+244%	-14,2 k €	-249%	9,5 k €	+552%	1,5 k €	-26.4%	2 k €	-53.5%	4,3 k €
Balance sheet
Equity	60,5 k €	-15.1%	71,3 k €	+33.0%	53,6 k €	-53.7%	115,8 k €	-0.6%	116,5 k €	+45.4%	80,1 k €	+58.8%	50,5 k €	+35.9%	37,1 k €	+15.5%	32,1 k €	+176%	11,6 k €	-54.9%	25,8 k €	+58.4%	16,3 k €	+9.8%	14,9 k €	+15.4%	12,9 k €
Total assets	83,1 k €	+4.0%	79,9 k €	+1.7%	78,6 k €	-42.7%	137,1 k €	-23.7%	179,7 k €	+72.7%	104 k €	+43.9%	72,3 k €	-10.2%	80,5 k €	+44.5%	55,7 k €	+152%	22,1 k €	-50.8%	45 k €	+36.9%	32,8 k €	+32.8%	24,7 k €	-2.2%	25,3 k €
Cash	55,6 k €	+58.7%	35,1 k €	-40.4%	58,8 k €	-22.2%	75,6 k €	-37.4%	120,7 k €	+101%	60,1 k €	+108%	28,9 k €	-24.2%	38,2 k €	+131%	16,5 k €	+253%	4,7 k €	-49.3%	9,2 k €	-29.4%	13,1 k €	+2816%	449,2 €	-95.4%	9,8 k €
Debts	22,6 k €	+163%	8,6 k €	-65.6%	25 k €	+16.8%	21,4 k €	-66.2%	63,2 k €	+164%	23,9 k €	+11.4%	21,5 k €	-50.0%	42,9 k €	+84.6%	23,3 k €	+155%	9,1 k €	-52.3%	19,1 k €	+15.7%	16,5 k €	+67.3%	9,9 k €	-15.6%	11,7 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 31/12/2025 · 2 active · 4 ended

Active mandates

Michel Hoyaux

Director · since 02 septembre 2011

Active

Sylvie Degraeve

Director · since 02 septembre 2011

Active

Ended mandates

Michel Hoyaux

Manager · since 02 septembre 2011

Ended

Sylvie Degraeve

Manager · since 02 septembre 2011

Ended

Michel Hoyaux

Director

Ended

Sylvie Degraeve

Director

Ended

Annual accounts

Full financial information

	2025	2024	2023	2022	2021	2020
Type of account	Micro model	Micro model	Micro model	Micro model	Micro model	Micro model
Start of the financial year	01/01/2025	01/01/2024	01/01/2023	01/01/2022	01/01/2021	01/01/2020
Closing of the financial year	31/12/2025	31/12/2024	31/12/2023	31/12/2022	31/12/2021	31/12/2020
Length of the financial year	12 months	12 months	12 months	12 months	12 months	12 months
Filing date	24/07/2026	18/06/2025	19/06/2024	21/06/2023	30/06/2022	13/09/2021
General meeting	16/06/2026	17/06/2025	18/06/2024	20/06/2023	21/06/2022	15/06/2021
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

14 filings with the NBB

Model	Closing	General meeting	Filed	Language	Document
Micro model	31/12/2025	16/06/2026	24/07/2026	French	PDF
Micro model	31/12/2024	17/06/2025	18/06/2025	French	PDF
Micro model	31/12/2023	18/06/2024	19/06/2024	French	PDF
Micro model	31/12/2022	20/06/2023	21/06/2023	French	PDF
Micro model	31/12/2021	21/06/2022	30/06/2022	French	PDF
Micro model	31/12/2020	15/06/2021	13/09/2021	French	PDF
Micro model	31/12/2019	16/06/2020	09/07/2020	French	PDF
Micro model	31/12/2018	18/06/2019	03/07/2019	French	PDF
Micro model	31/12/2017	19/06/2018	12/07/2018	French	PDF
Micro model	31/12/2016	20/06/2017	05/07/2017	French	PDF
Abridged model	31/12/2015	21/06/2016	15/07/2016	French	PDF
Abridged model	31/12/2014	16/06/2015	13/07/2015	French	PDF
Abridged model	31/12/2013	17/06/2014	16/07/2014	French	PDF
Abridged model	31/12/2012	18/06/2013	25/06/2013	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 31/12/2025 · 2 active · 4 ended

Active mandates

Michel Hoyaux

Director · since 02 septembre 2011

Active

Sylvie Degraeve

Director · since 02 septembre 2011

Active

Ended mandates

Michel Hoyaux

Manager · since 02 septembre 2011

Ended

Sylvie Degraeve

Manager · since 02 septembre 2011

Ended

Michel Hoyaux

Director

Ended

Sylvie Degraeve

Director

Ended

Shareholders

Ownership and network

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Competition

Similar companies

A company's peers, by sector and size, are included in the Business plan.

See the Business plan

2025
Annual accounts 2025-10,8 k €↓
2024
Annual accounts 202417,7 k €↑
2023
Annual accounts 2023-62,1 k €↓
2022
Annual accounts 2022-698,3 €↓
2021
Annual accounts 202169,5 k €↑
2020
Annual accounts 202040,6 k €↑
2019
Annual accounts 201913,3 k €↓
2018
Annual accounts 201822,7 k €↑
2017
Annual accounts 201720,5 k €↑
2016
Annual accounts 2016-14,2 k €↓
2015
Annual accounts 20159,5 k €↑
2014
Annual accounts 20141,5 k €↓
2013
Annual accounts 20132 k €↓
2012
Annual accounts 20124,3 k €
02/09/2011
IncorporationPrivate limited company

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

SD2MH

Overview

What does SD2MH do?

Trend over 14 financial years

Indicative valuation

Board of directors

Financials

Full financial information

Financial ratios

Annual accounts filings

Valuation

Indicative valuation

Directors & structure

Board of directors

Ownership and network

Publications

Similar companies

Similar companies

Timeline