Can you reverse the car on the road once you go past this sign?

The D-40 sign shown in the photo indicates the beginning of a residential zone. According to Art. 23 para. 2 of the Road Traffic Act, reversing is prohibited in tunnels, on bridges, viaducts, motorways or expressways. A residential zone is not among the places covered by this prohibition, so performing a reversing manoeuvre here is permitted provided precautions are taken.