A 
5.08
-1.55%
Close of 6 Nov 2026, in PLN
At a glance
Figures in PLN, from our data supplier.
Revenue
PLN 93.6m
FY2016FY2025
Net income
PLN 4.1m
FY2016FY2025
Free cash flow
−PLN 5.6m
FY2016FY2025
Shareholders' equity
PLN 21.1m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 93.6m | PLN 100.1m | PLN 126.0m | PLN 150.9m | PLN 113.3m | PLN 85.4m | PLN 134.8m | PLN 123.9m | PLN 95.8m | PLN 83.5m |
| Gross profit | PLN 24.8m | PLN 26.0m | PLN 33.5m | PLN 39.0m | PLN 35.0m | PLN 18.5m | PLN 42.6m | PLN 33.6m | PLN 18.2m | PLN 22.6m |
| Research and development | — | — | PLN 3.4m | PLN 3.9m | PLN 3.0m | PLN 2.7m | PLN 2.7m | PLN 2.3m | PLN 1.6m | PLN 1.1m |
| Operating income | PLN 7.6m | −PLN 36.0m | −PLN 5.1m | PLN 3.8m | PLN 11.0m | −PLN 3.4m | PLN 17.6m | PLN 12.0m | −PLN 725,000 | PLN 4.2m |
| Net income | PLN 4.1m | −PLN 36.2m | −PLN 6.8m | PLN 508,000 | PLN 9.3m | −PLN 5.4m | PLN 10.6m | PLN 6.8m | −PLN 2.9m | PLN 2.5m |
| Diluted earnings per share | 0.15 | -1.37 | -0.24 | 0.02 | 0.33 | -0.19 | 0.38 | 0.24 | -0.10 | 0.09 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 98.4m | PLN 81.9m | PLN 107.8m | PLN 109.2m | PLN 114.1m | PLN 91.6m | PLN 109.7m | PLN 100.8m | PLN 89.2m | PLN 90.9m |
| Cash and short-term investments | PLN 2.7m | PLN 2.8m | PLN 3.1m | PLN 10.0m | PLN 4.5m | PLN 2.7m | PLN 8.6m | PLN 6.0m | PLN 5.4m | PLN 2.7m |
| Total liabilities | PLN 77.3m | PLN 65.0m | PLN 61.6m | PLN 53.1m | PLN 58.3m | PLN 45.3m | PLN 54.7m | PLN 54.5m | PLN 49.2m | PLN 47.0m |
| Debt | PLN 36.3m | PLN 23.2m | PLN 23.4m | PLN 18.2m | PLN 21.8m | PLN 23.6m | PLN 24.7m | PLN 24.1m | PLN 23.0m | PLN 17.2m |
| Shareholders' equity | PLN 21.1m | PLN 16.9m | PLN 46.2m | PLN 56.1m | PLN 55.8m | PLN 46.2m | PLN 55.0m | PLN 46.2m | PLN 40.1m | PLN 44.0m |
| Shares outstanding | 28m | 27m | 28m | 28m | 28m | 28m | 28m | 28m | 28m | 28m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −PLN 190,999 | PLN 2.7m | −PLN 8.4m | PLN 15.8m | PLN 4.4m | PLN 2.0m | PLN 8.7m | PLN 3.3m | PLN 475,000 | −PLN 3.3m |
| Capital spending | −PLN 5.4m | −PLN 2.9m | −PLN 1.1m | −PLN 2.4m | −PLN 2.2m | −PLN 4.9m | −PLN 1.2m | −PLN 1.9m | −PLN 3.4m | −PLN 17.0m |
| Free cash flow | −PLN 5.6m | −PLN 251,000 | −PLN 9.6m | PLN 13.4m | PLN 2.2m | −PLN 2.8m | PLN 7.5m | PLN 1.4m | −PLN 2.9m | −PLN 20.3m |
| Dividends paid | — | — | — | −PLN 846,000 | — | −PLN 1.4m | −PLN 2.8m | −PLN 2.5m | −PLN 564,000 | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 21.0m | PLN 18.2m | PLN 34.2m | PLN 20.2m | PLN 22.1m | PLN 17.1m | PLN 21.4m | PLN 22.7m |
| Gross profit | PLN 4.8m | PLN 7.0m | PLN 9.9m | PLN 5.3m | PLN 6.6m | PLN 3.9m | PLN 9.8m | PLN 4.3m |
| Operating income | PLN 1.3m | PLN 1.8m | PLN 6.3m | PLN 2.6m | PLN 306,000 | −PLN 1.4m | −PLN 8.5m | −PLN 3.8m |
| Net income | PLN 335,000 | PLN 6.6m | PLN 5.2m | PLN 1.2m | −PLN 377,000 | −PLN 2.0m | −PLN 24.7m | −PLN 4.1m |
| Diluted earnings per share | 0.01 | 0.23 | 0.19 | 0.04 | -0.01 | -0.07 | -0.93 | -0.15 |
| Cash from operations | — | PLN 2.0m | PLN 4.0m | −PLN 5.0m | PLN 1.0m | PLN 1.0m | — | PLN 2.0m |
| Capital spending | — | — | −PLN 1.0m | −PLN 1.0m | −PLN 1.0m | — | — | — |
| Free cash flow | — | — | PLN 3.0m | −PLN 6.0m | PLN 0 | — | — | — |
| Total assets | PLN 91.3m | PLN 90.8m | PLN 98.4m | PLN 95.4m | PLN 87.1m | PLN 84.7m | PLN 81.9m | PLN 110.1m |
| Cash and short-term investments | PLN 2.9m | PLN 4.4m | PLN 2.7m | PLN 1.4m | PLN 987,000 | PLN 1.6m | PLN 2.8m | PLN 5.0m |
| Debt | PLN 15.4m | PLN 15.0m | PLN 25.0m | PLN 29.9m | PLN 22.2m | PLN 21.8m | PLN 22.2m | PLN 11.6m |
| Shareholders' equity | PLN 28.0m | PLN 27.7m | PLN 21.1m | PLN 15.9m | PLN 14.6m | PLN 14.8m | PLN 16.9m | PLN 34.5m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -14.7% | 1.8% | 0.6% |
| Operating income | 26.5% | — | 4.6% |
| Net income | 100.7% | — | 3.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 26.2% | 26.2% | 26.4% | 26.5% |
| Operating margin | -14.7% | -6.3% | -3.3% | 1.3% |
| Net margin | -16.6% | -8.2% | -5.1% | -1.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 16.6 | -1.9 | -15.6 | 169.8 | 9.5 | -9.5 | 5.3 | 9.2 | -28.9 | 39.5 |
| Price to sales | 0.7 | 0.7 | 0.8 | 0.6 | 0.8 | 0.6 | 0.4 | 0.5 | 0.9 | 1.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 14 Jun 2022.
| FY2022 | FY2020 | FY2019 | FY2017 | FY2016 | FY2015 | FY2014 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 0.03 | 0.05 | 0.09 | 0.02 | 0.02 | 0.04 | 0.03 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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