W 
22.85
0.00%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€40.6m
FY2016FY2025
Net income
−€875,000
FY2016FY2025
Free cash flow
€1.0m
FY2016FY2025
Shareholders' equity
€10.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €40.6m | €34.1m | €30.2m | €25.2m | €23.2m | €20.1m | €16.4m | €12.7m | €11.7m | €7.4m |
| Research and development | — | — | €3.9m | €3.4m | — | — | — | — | €1.4m | €1.1m |
| Operating income | −€1.8m | −€5.7m | −€9.5m | −€7.1m | −€2.9m | −€7.3m | −€6.8m | −€3.3m | −€845,000 | −€1.8m |
| Net income | −€875,000 | −€4.3m | −€8.5m | −€6.0m | −€3.0m | −€7.3m | −€6.8m | −€3.3m | −€1.1m | −€1.7m |
| Diluted earnings per share | -0.13 | -0.65 | -1.30 | -1.01 | -0.50 | -1.25 | -1.19 | -0.79 | -0.26 | -0.42 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €64.4m | €54.2m | €58.5m | €51.1m | €52.6m | €52.9m | €55.4m | €53.9m | €22.1m | €17.8m |
| Cash and short-term investments | €12.1m | €11.2m | €17.6m | €13.5m | €22.7m | €23.2m | €29.3m | €36.4m | €7.0m | €5.9m |
| Total liabilities | €53.6m | €44.4m | €43.3m | €33.6m | €29.9m | €27.6m | €23.2m | €14.6m | €14.1m | €9.0m |
| Debt | €8.2m | €8.3m | €9.0m | €2.0m | €2.7m | €3.8m | €3.9m | €1.6m | €1.9m | €1.7m |
| Shareholders' equity | €10.7m | €9.8m | €15.1m | €17.5m | €22.6m | €25.3m | €32.2m | €39.3m | €8.0m | €8.8m |
| Shares outstanding | 7m | 7m | 7m | 6m | 6m | 6m | 6m | 4m | 4m | 4m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €7.6m | €1.5m | −€3.5m | −€2.3m | €6.2m | −€891,000 | −€3.1m | −€1.8m | €3.4m | −€854,000 |
| Capital spending | −€6.5m | −€6.4m | −€4.7m | −€5.7m | −€6.0m | −€5.6m | −€4.0m | −€3.2m | −€3.0m | −€2.6m |
| Free cash flow | €1.0m | −€4.9m | −€8.2m | −€8.0m | €231,000 | −€6.5m | −€7.1m | −€5.0m | €417,000 | −€3.5m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €20.6m | €22.6m | €18.0m | €18.9m | €15.1m | €18.2m | €13.9m | €14.2m |
| Operating income | −€1.2m | €1.5m | −€3.3m | €136,000 | −€5.8m | −€3.4m | −€6.6m | −€3.8m |
| Net income | −€907,000 | €2.2m | −€3.1m | €1.3m | −€5.6m | −€3.1m | −€5.4m | −€2.4m |
| Diluted earnings per share | -0.13 | 0.34 | -0.47 | 0.20 | -0.85 | -0.47 | -0.82 | -0.40 |
| Cash from operations | €4.0m | €6.0m | €1.0m | €2.0m | −€1.0m | −€2.0m | — | — |
| Capital spending | −€3.0m | −€3.0m | −€3.0m | −€3.0m | −€2.0m | −€2.0m | −€2.0m | −€2.0m |
| Free cash flow | €1.0m | €3.0m | −€2.0m | −€1.0m | −€3.0m | −€4.0m | — | — |
| Total assets | €59.4m | €64.4m | €50.8m | €54.2m | €51.3m | €58.5m | €57.5m | €51.1m |
| Cash and short-term investments | — | €12.1m | €9.4m | €11.2m | €12.8m | €17.6m | €20.6m | €13.5m |
| Debt | — | €11.1m | €8.1m | €8.3m | €8.6m | €8.8m | €6.5m | €2.0m |
| Shareholders' equity | €10.0m | €10.7m | €6.7m | €9.8m | €9.0m | €15.1m | €17.3m | €17.5m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 17.3% | 15.1% | 22.6% |
| Operating income | -36.7% | -24.4% | 5.4% |
| Net income | -47.4% | -34.6% | -2.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -10.0% | -18.6% | -19.8% | -21.2% |
| Net margin | -6.9% | -15.1% | -17.3% | -19.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -182.9 | -15.1 | -7.1 | -11.7 | -62.4 | -16.7 | -12.4 | -15.9 | -67.7 | -19.2 |
| Price to sales | 3.9 | 1.9 | 2.0 | 2.8 | 8.0 | 6.1 | 5.2 | 4.1 | 6.1 | 4.4 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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