W 
4.13
+0.73%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€19.6m
FY2016FY2025
Net income
−€682,000
FY2016FY2025
Free cash flow
€862,000
FY2016FY2025
Shareholders' equity
€5.4m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €19.6m | €22.2m | €23.2m | €26.1m | €19.1m | €14.4m | €19.1m | €19.0m | €16.2m | €15.7m |
| Research and development | — | — | €3.0m | €3.3m | €287,000 | €374,000 | €271,000 | €276,000 | €223,000 | €381,000 |
| Operating income | −€496,000 | −€2.5m | −€675,000 | €921,000 | €2.2m | −€2.7m | €1.2m | −€675,000 | −€4.0m | €203,000 |
| Net income | −€682,000 | −€1.1m | −€1.5m | €753,000 | €2.1m | −€2.8m | €663,000 | −€757,000 | −€4.1m | €71,000 |
| Diluted earnings per share | -0.17 | -0.27 | -0.37 | 0.18 | 0.52 | -0.69 | 0.16 | -0.18 | -1.04 | 0.02 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €19.6m | €20.4m | €22.0m | €23.7m | €26.4m | €20.5m | €21.6m | €21.2m | €21.6m | €20.5m |
| Cash and short-term investments | €892,000 | €727,000 | €1.5m | €2.8m | €2.7m | €2.6m | €157,000 | €2.3m | €3.7m | €5.5m |
| Total liabilities | €14.2m | €15.3m | €15.4m | €16.5m | €20.4m | €17.0m | €15.9m | €16.0m | €15.4m | €10.8m |
| Debt | €2.7m | €3.7m | €6.0m | €3.3m | €4.3m | €4.9m | €2.7m | €5.0m | €5.4m | €4.1m |
| Shareholders' equity | €5.4m | €5.1m | €6.6m | €7.3m | €6.0m | €3.5m | €5.7m | €5.2m | €6.1m | €9.8m |
| Shares outstanding | 4m | 4m | 4m | 4m | 4m | 4m | 4m | 4m | 4m | 4m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €4.9m | €4.3m | −€732,000 | €5.3m | €4.6m | €2.2m | €3.6m | €2.0m | −€1.5m | −€2.1m |
| Capital spending | −€4.0m | −€2.8m | −€4.1m | −€5.0m | −€5.5m | −€4.5m | −€3.3m | −€4.1m | −€2.6m | −€1.9m |
| Free cash flow | €862,000 | €1.5m | −€4.8m | €314,000 | −€892,000 | −€2.3m | €254,000 | −€2.1m | −€4.1m | −€4.0m |
| Dividends paid | — | — | — | −€8,000 | −€30,000 | — | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Sept 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €10.2m | €11.9m | €7.7m | €11.8m | €10.4m | €11.2m | €5.6m | €10.4m |
| Operating income | €5,000 | €2.0m | −€2.5m | −€199,000 | −€1.8m | €544,000 | €272,000 | −€2.3m |
| Net income | €1.1m | €1.9m | −€2.5m | −€431,000 | −€696,000 | −€241,000 | −€120,500 | −€1.3m |
| Diluted earnings per share | 0.26 | 0.45 | -0.62 | -0.10 | -0.17 | -0.06 | -0.03 | -0.32 |
| Cash from operations | — | €3.0m | €1.0m | €4.0m | €2.0m | €1.0m | — | −€2.0m |
| Capital spending | — | −€4.0m | — | −€2.0m | — | — | — | −€1.0m |
| Free cash flow | — | −€1.0m | — | €2.0m | — | — | — | −€3.0m |
| Total assets | €17.5m | €19.6m | €19.9m | €20.4m | €19.7m | €22.0m | €22.0m | €21.9m |
| Cash and short-term investments | €967,000 | €892,000 | €435,000 | €727,000 | €722,000 | €1.5m | €1.5m | €760,000 |
| Debt | — | €2.7m | €3.5m | €3.7m | €4.3m | €6.0m | €2.8m | €9.6m |
| Shareholders' equity | €6.3m | €5.4m | €3.5m | €5.1m | €5.7m | €6.6m | €6.6m | €6.4m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -9.2% | 6.3% | 2.6% |
| Operating income | — | -28.8% | — |
| Net income | — | -24.7% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -7.2% | -3.0% | -2.6% | -2.4% |
| Net margin | -4.3% | -2.8% | -2.6% | -2.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -8.7 | -9.5 | -11.3 | 41.4 | 13.7 | -14.8 | 17.8 | -30.0 | -7.9 | — |
| Price to sales | 0.3 | 0.5 | 0.8 | 1.2 | 1.5 | 2.9 | 0.6 | 1.2 | 2.0 | 2.5 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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