I 
12.95
+0.78%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€44.3m
FY2016FY2025
Net income
€5,708
FY2016FY2025
Free cash flow
€6.3m
FY2016FY2025
Shareholders' equity
€51.4m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €44.3m | €50.6m | €48.2m | €53.9m | €44.1m | €33.0m | €48.5m | €32.8m | €16.9m | €17.7m |
| Research and development | — | €1.3m | €351,000 | €26,000 | — | — | — | — | — | — |
| Operating income | €82,475 | −€4.8m | −€1.8m | €1.9m | €922,500 | €2.0m | €2.3m | €2.9m | €374,732 | €4.1m |
| Net income | €5,708 | −€4.8m | −€2.5m | €1.3m | −€234,631 | €1.0m | €866,538 | €1.4m | €170,238 | €2.8m |
| Diluted earnings per share | 0.00 | -1.01 | -0.52 | 0.27 | -0.05 | 0.24 | 0.21 | 0.35 | 0.04 | 0.94 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €72.1m | €69.0m | €75.9m | €76.4m | €77.1m | €53.0m | €55.6m | €57.6m | €35.9m | €21.4m |
| Cash and short-term investments | €3.1m | €289,877 | €379,750 | €3.1m | €17.9m | €2.5m | €700,298 | €372,000 | €15.7m | €2.1m |
| Total liabilities | €16.6m | €17.6m | €19.1m | €17.0m | €17.3m | €18.2m | €22.6m | €25.9m | €5.9m | €7.5m |
| Debt | €3.0m | €6.8m | €8.5m | €6.4m | €9.9m | €17.0m | €15.3m | €11.2m | €3.0m | €4.1m |
| Shareholders' equity | €51.4m | €47.8m | €56.7m | €59.4m | €58.1m | €32.8m | €31.8m | €31.8m | €30.1m | €13.9m |
| Shares outstanding | 5m | 5m | 5m | 5m | 5m | 4m | 4m | 4m | 4m | 3m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €14.4m | €9.3m | €2.4m | −€3.5m | −€1.6m | €4.5m | €4.2m | €3.3m | €778,000 | €3.8m |
| Capital spending | −€8.1m | −€4.0m | −€7.3m | −€10.0m | −€4.5m | −€66,000 | −€6.2m | −€8.5m | −€2.1m | −€4.7m |
| Free cash flow | €6.3m | €5.3m | −€4.9m | −€13.5m | −€6.1m | €4.4m | −€2.0m | −€5.2m | −€1.3m | −€966,000 |
| Dividends paid | — | — | −€190,000 | — | — | — | −€800,000 | −€161,000 | −€510,000 | −€650,000 |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €19.7m | €25.4m | €19.4m | €25.4m | €25.3m | €23.0m | €25.3m | €24.4m |
| Operating income | −€678,000 | €230,115 | €5.2m | −€6.4m | €4.4m | −€2.3m | €504,129 | €513,090 |
| Net income | −€1.1m | €629,608 | −€623,900 | −€1.6m | −€3.2m | −€2.9m | €372,780 | €793,555 |
| Diluted earnings per share | -0.23 | 0.13 | -0.13 | -0.34 | -0.66 | -0.60 | 0.08 | 0.17 |
| Cash from operations | €17.0m | €14.0m | — | €7.0m | €1.0m | €3.0m | −€1.0m | €1.0m |
| Capital spending | — | −€6.0m | −€1.0m | — | −€3.0m | −€2.0m | −€4.0m | −€7.0m |
| Free cash flow | — | €8.0m | — | — | −€2.0m | €1.0m | −€5.0m | −€6.0m |
| Total assets | €91.0m | €72.1m | €69.1m | €69.0m | €77.2m | €75.9m | €81.6m | €76.4m |
| Cash and short-term investments | €10.3m | €3.1m | €1.1m | €289,877 | €2.5m | €379,750 | €2.3m | €3.1m |
| Debt | €400,000 | €5.7m | €8.4m | €12.5m | €10.9m | €14.1m | €11.8m | €6.5m |
| Shareholders' equity | €49.7m | €51.4m | €50.8m | €47.8m | €53.6m | €56.7m | €59.6m | €59.4m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -6.3% | 6.1% | 10.3% |
| Operating income | -64.8% | -47.3% | -33.2% |
| Net income | -83.6% | -64.4% | -46.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -4.9% | -2.3% | -0.6% | 3.1% |
| Net margin | -5.0% | -3.0% | -1.9% | 0.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | — | -6.6 | -34.5 | 126.8 | -911.0 | 123.0 | 72.9 | 38.6 | 409.1 |
| Price to sales | 2.1 | 0.6 | 1.8 | 3.0 | 4.8 | 3.7 | 1.3 | 1.7 | 4.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 27 Apr 2023.
| FY2023 | FY2019 | FY2018 | |
|---|---|---|---|
| Paid in the year | 0.04 | 0.047 | 0.123 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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