Tools · Valuation

SDE Calculator

Calculate your Seller's Discretionary Earnings in one minute: the standard metric for valuing an owner-operated SME under €1m revenue. With an indicative sector multiple band. Free, no signup.

Your numbers

EBITDA (€)

Earnings before interest, taxes, depreciation, amortization.

Owner compensation (€)

Full-time owner salary + benefits + employer charges.

Discretionary expenses (€)

Personal car, phone, memberships, family items routed through the business.

Non-recurring items (€)

One-off costs added back (relocation, legal, exceptional bonus).

Your SDE

Indicative valuation band

Based on typical Benelux SDE multiples (1.5x-3.5x). Midpoint is 2.0x. Upper band only if you have recurring contracts.

Conservative (1.5x): -
Midpoint (2.0x): -
Recurring revenue (3.5x): -

Want a defensible figure?

A sale-grade valuation normalises owner comp to market, re-classes one-offs, and triangulates with EBITDA / NAV. Upswitch runs all of that in one session.

Run a full Upswitch valuation Read: SDE vs EBITDA

Embed this tool

Drop the snippet on your accountant blog, client portal, or any page where SME owners might land. Free, no registration required.

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How to use it

Enter your EBITDA, full-time owner compensation, and the discretionary expenses you route through the business (car, phone, memberships). Non-recurring items: one-off relocation, legal dispute, bonus: go in too. The calculator surfaces your SDE plus an indicative valuation band based on typical Benelux SDE multiples (1.5x-3.5x). Only use the upper band if you have recurring contracts.

Formula

SDE = EBITDA + Owner compensation + Discretionary expenses + Non-recurring items

Frequently asked

When do I use SDE instead of EBITDA?: Below €1m revenue, in owner-operated businesses where owner compensation exceeds profit. Above that threshold: or once a professional management team runs the business: switch to EBITDA multiples.
Which expenses count as "discretionary"?: Personal use of car, phone, memberships, subscriptions not strictly required to operate. Family expenses routed through the business. Not amounts a new owner would actually need to spend to keep operations running.
What is a realistic SDE multiple for Belgian SMEs?: Between 1.5x and 3.5x SDE. Recurring-contract services land 2.5x-3.5x; transactional service businesses 1.5x-2.2x. The calculator shows 2.0x as a midpoint: for a defensible figure run a full Upswitch valuation.
Is this a defensible valuation?: No: this is a quick indicator. A sale-grade valuation requires normalising owner compensation to market, re-classing one-off items, and triangulating with EBITDA and NAV. Upswitch does all of that in one session.

Go deeper

Your numbers

EBITDA (€)

Earnings before interest, taxes, depreciation, amortization.

Owner compensation (€)

Full-time owner salary + benefits + employer charges.

Discretionary expenses (€)

Personal car, phone, memberships, family items routed through the business.

Non-recurring items (€)

One-off costs added back (relocation, legal, exceptional bonus).

How to use it

Formula

SDE = EBITDA + Owner compensation + Discretionary expenses + Non-recurring items

Frequently asked

When do I use SDE instead of EBITDA?

Below €1m revenue, in owner-operated businesses where owner compensation exceeds profit. Above that threshold: or once a professional management team runs the business: switch to EBITDA multiples.

Which expenses count as "discretionary"?

Personal use of car, phone, memberships, subscriptions not strictly required to operate. Family expenses routed through the business. Not amounts a new owner would actually need to spend to keep operations running.

What is a realistic SDE multiple for Belgian SMEs?

Between 1.5x and 3.5x SDE. Recurring-contract services land 2.5x-3.5x; transactional service businesses 1.5x-2.2x. The calculator shows 2.0x as a midpoint: for a defensible figure run a full Upswitch valuation.

Is this a defensible valuation?

No: this is a quick indicator. A sale-grade valuation requires normalising owner compensation to market, re-classing one-off items, and triangulating with EBITDA and NAV. Upswitch does all of that in one session.