A 
1.41
0.00%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€12.5m
FY2016FY2025
Net income
−€2.6m
FY2016FY2025
Free cash flow
−€2.2m
FY2016FY2025
Shareholders' equity
€8.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €12.5m | €12.2m | €11.5m | €11.5m | €12.2m | €9.3m | €11.7m | €10.8m | €10.9m | €10.5m |
| Research and development | €149,000 | €103,000 | €233,000 | €223,000 | €246,000 | €290,000 | €440,000 | €1.1m | €533,000 | €836,000 |
| Operating income | −€2.5m | −€3.1m | −€5.0m | −€3.2m | −€3.9m | −€8.5m | −€9.6m | −€8.1m | −€9.3m | −€9.8m |
| Net income | −€2.6m | −€3.6m | −€5.1m | −€2.6m | −€2.5m | −€8.9m | −€19.4m | −€7.7m | −€9.3m | −€9.3m |
| Diluted earnings per share | -0.19 | -0.23 | -0.67 | -0.43 | -0.39 | -2.79 | -6.06 | -2.42 | -2.93 | -2.72 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €13.8m | €15.8m | €19.5m | €20.2m | €23.0m | €19.7m | €26.3m | €42.2m | €50.5m | €63.9m |
| Cash and short-term investments | €1.4m | €2.5m | €1.6m | €236,000 | €2.1m | €885,000 | €4.2m | €7.1m | €16.3m | €27.4m |
| Total liabilities | €5.1m | €5.4m | €8.6m | €7.4m | €10.2m | €9.4m | €7.4m | €7.3m | €7.9m | €9.1m |
| Debt | €984,000 | €1.7m | €5.3m | €3.2m | €5.1m | €4.4m | €2.5m | €629,000 | €2.1m | €2.8m |
| Shareholders' equity | €8.7m | €10.5m | €10.8m | €12.8m | €12.8m | €10.3m | €18.9m | €34.9m | €42.6m | €54.8m |
| Shares outstanding | 14m | 16m | 8m | 6m | 6m | 3m | 3m | 3m | 3m | 3m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −€1.4m | −€1.1m | −€3.0m | −€1.9m | −€2.5m | −€3.7m | −€5.8m | −€5.9m | −€5.4m | −€7.2m |
| Capital spending | −€725,000 | −€330,000 | −€406,000 | −€485,000 | −€523,000 | −€414,000 | −€1.7m | −€2.2m | −€1.4m | −€19,000 |
| Free cash flow | −€2.2m | −€1.5m | −€3.4m | −€2.4m | −€3.0m | −€4.1m | −€7.5m | −€8.1m | −€6.8m | −€7.2m |
| Dividends paid | — | — | — | — | — | — | −€124,000 | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €3.2m | €3.2m | €3.2m | €3.2m | €3.2m | €3.2m | €2.9m | €2.9m |
| Operating income | €1.4m | €1.4m | €765,000 | €765,000 | €1.1m | €1.1m | €1.3m | €1.3m |
| Net income | −€564,000 | −€564,000 | −€801,000 | −€801,000 | −€491,500 | −€491,500 | −€1.4m | −€1.4m |
| Diluted earnings per share | -0.04 | -0.04 | -0.06 | -0.06 | -0.04 | -0.04 | -0.09 | -0.09 |
| Total assets | €16.1m | €16.1m | €13.8m | €13.8m | €14.0m | €14.0m | €15.8m | €15.8m |
| Cash and short-term investments | €286,000 | €286,000 | €1.4m | €661,000 | €1.1m | €576,000 | €2.5m | €2.1m |
| Debt | €725,000 | €696,000 | €325,000 | €277,000 | €532,000 | €465,000 | €1.6m | €808,000 |
| Shareholders' equity | €8.2m | €8.2m | €8.7m | €8.7m | €9.4m | €9.4m | €10.5m | €10.5m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 2.8% | 6.0% | 0.2% |
| Operating income | -7.8% | -21.4% | -11.6% |
| Net income | 0.5% | -21.9% | -6.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -22.7% | -29.1% | -38.0% | -57.3% |
| Net margin | -25.2% | -29.2% | -36.7% | -60.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -7.5 | -5.6 | -1.2 | -3.1 | -7.7 | -1.1 | -0.6 | -4.7 | -6.2 | -4.5 |
| Price to sales | 1.6 | 1.7 | 0.6 | 0.7 | 1.6 | 1.1 | 1.0 | 3.3 | 5.2 | 4.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 10-to-1 reverse split · 29 Oct 2020
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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