M 
7.40
-1.46%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€58.1m
FY2016FY2025
Net income
€6.7m
FY2016FY2025
Free cash flow
€2.4m
FY2016FY2025
Shareholders' equity
€145.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €58.1m | €67.6m | €48.0m | €46.6m | €38.8m | €35.2m | €68.2m | €66.8m | €59.1m | €50.3m |
| Research and development | €13.9m | €13.4m | €4.5m | €3.9m | €3.2m | €2.2m | €2.3m | €3.5m | €4.4m | €3.3m |
| Operating income | €5.0m | €10.4m | €7.4m | €5.8m | €7.9m | €6.6m | €17.8m | €17.8m | €12.3m | €9.2m |
| Net income | €6.7m | €11.0m | €8.2m | €7.3m | €5.5m | €5.4m | €14.3m | €12.5m | €8.6m | €7.2m |
| Diluted earnings per share | 1.00 | 1.79 | 1.33 | 1.18 | 0.89 | 0.89 | 2.32 | 2.03 | 1.39 | 1.05 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €183.8m | €169.6m | €147.7m | €140.6m | €137.9m | €137.9m | €131.0m | €116.5m | €101.9m | €95.3m |
| Cash and short-term investments | €40.2m | €35.5m | €31.1m | €32.2m | €43.3m | €48.7m | €40.8m | €26.8m | €19.1m | €16.6m |
| Total liabilities | €38.0m | €31.4m | €20.8m | €21.1m | €25.3m | €30.8m | €24.6m | €27.6m | €24.8m | €25.5m |
| Debt | €22.9m | €12.5m | €9.5m | €9.4m | €17.7m | €24.0m | €10.2m | €13.8m | €15.3m | €13.5m |
| Shareholders' equity | €145.7m | €138.1m | €126.9m | €119.5m | €112.5m | €107.0m | €103.1m | €88.9m | €77.2m | €69.8m |
| Shares outstanding | 7m | 6m | 6m | 6m | 6m | 6m | 6m | 6m | 6m | 7m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €3.4m | €24.1m | €8.2m | €6.5m | €2.5m | €5.6m | €22.5m | €14.6m | €9.3m | €6.3m |
| Capital spending | −€1.0m | −€20.3m | −€9.2m | −€5.2m | −€837,000 | −€722,000 | −€7.1m | −€1.5m | −€2.7m | −€476,000 |
| Free cash flow | €2.4m | €3.9m | −€905,000 | €1.2m | €1.7m | €4.8m | €15.4m | €13.1m | €6.6m | €5.8m |
| Dividends paid | — | — | — | — | — | — | — | −€636,000 | — | — |
Latest quarters
By quarter end
| Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | Jun 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €31.0m | €27.1m | €44.2m | €23.4m | €29.8m | €22.0m | €26.6m | €20.0m |
| Operating income | €4.3m | €627,000 | €8.4m | €1.9m | €6.0m | €1.5m | €3.2m | €2.7m |
| Net income | €4.2m | €2.5m | €8.5m | €2.5m | €5.7m | €2.5m | €3.9m | €3.4m |
| Diluted earnings per share | 0.63 | 0.37 | 1.37 | 0.41 | 0.92 | 0.41 | 0.63 | 0.55 |
| Cash from operations | €2.0m | €1.0m | €21.0m | €2.0m | €9.0m | — | €8.0m | −€1.0m |
| Capital spending | — | −€1.0m | −€11.0m | — | −€1.0m | — | −€1.0m | −€3.0m |
| Free cash flow | — | €0 | €10.0m | — | €8.0m | — | €7.0m | −€4.0m |
| Total assets | €183.8m | €169.0m | €169.6m | €150.5m | €147.5m | €142.1m | €140.6m | €135.4m |
| Cash and short-term investments | €40.2m | €29.4m | €35.5m | €28.7m | €31.1m | €27.0m | €32.2m | €31.9m |
| Debt | €30.3m | €11.6m | €12.3m | €8.5m | €9.6m | €11.1m | €9.4m | €11.3m |
| Shareholders' equity | €145.7m | €141.2m | €138.1m | €129.5m | €126.9m | €121.8m | €119.5m | €115.7m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 7.6% | 10.6% | 1.4% |
| Operating income | -5.3% | -5.5% | -6.9% |
| Net income | -3.0% | 4.1% | -1.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 12.2% | 13.0% | 14.7% | 18.7% |
| Net margin | 14.1% | 15.0% | 15.0% | 16.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 9.4 | 8.6 | 12.2 | 24.2 | 41.3 | 53.9 | 23.5 | 19.9 | 38.8 | 36.1 |
| Price to sales | 1.1 | 1.4 | 2.1 | 3.8 | 5.8 | 8.3 | 4.9 | 3.7 | 5.7 | 5.2 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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