I 
4.08
+0.74%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€9.0m
FY2016FY2025
Net income
€4.4m
FY2016FY2025
Free cash flow
€4.5m
FY2016FY2025
Shareholders' equity
€16.1m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €9.0m | €7.1m | €4.1m | €4.4m | €4.4m | €3.9m | €2.8m | €2.2m | €2.3m | €2.2m |
| Research and development | €150,316 | €143,965 | €569,949 | €1.1m | €758,658 | €541,626 | €467,589 | €415,204 | €399,389 | €183,285 |
| Operating income | €5.7m | €4.0m | €1.2m | €644,730 | €580,360 | €529,720 | €129,380 | −€234,560 | €534,190 | −€420,900 |
| Net income | €4.4m | €3.8m | €1.1m | €1.3m | €429,949 | €658,232 | −€38,005 | −€215,840 | €257,606 | €288,221 |
| Diluted earnings per share | 0.31 | 0.28 | 0.09 | 0.10 | 0.03 | 0.05 | -0.00 | -0.02 | 0.02 | 0.02 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €21.6m | €13.6m | €9.9m | €8.3m | €8.8m | €8.3m | €8.3m | €8.0m | €9.3m | €9.1m |
| Cash and short-term investments | €6.7m | €2.7m | €2.2m | €1.8m | €1.3m | €380,991 | €497,539 | €970,395 | €752,636 | €1.0m |
| Total liabilities | €4.9m | €1.5m | €2.1m | €1.8m | €3.1m | €3.3m | €4.2m | €3.8m | €5.2m | €5.2m |
| Debt | €98,841 | €77,131 | €959,255 | €619,900 | €1.9m | €2.0m | €2.3m | €2.6m | €3.0m | €3.3m |
| Shareholders' equity | €16.1m | €11.7m | €7.8m | €6.5m | €5.2m | €4.8m | €3.8m | €3.8m | €4.1m | €3.9m |
| Shares outstanding | 14m | 14m | 12m | 12m | 12m | 12m | 12m | 12m | 12m | 12m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €8.9m | €3.0m | €2.5m | €1.9m | €1.0m | €873,475 | €1.2m | €1.7m | €1.5m | €1.3m |
| Capital spending | −€4.4m | −€1.9m | −€131,944 | −€516,790 | −€356,365 | −€822,162 | −€1.4m | −€1.1m | −€1.4m | −€1.2m |
| Free cash flow | €4.5m | €1.0m | €2.4m | €1.4m | €689,155 | €51,313 | −€162,651 | €548,724 | €38,330 | €64,524 |
| Dividends paid | −€987,784 | −€171,877 | −€164,523 | — | — | — | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €5.2m | €2.6m | €2.2m | €2.2m | €2.3m | €2.3m | €4.3m | €2.1m |
| Operating income | €2.8m | €1.5m | €1.6m | €1.6m | €1.1m | €1.1m | €2.9m | €2.1m |
| Net income | €1.6m | €1.6m | €1.4m | €1.4m | €797,232 | €797,232 | €2.7m | €1.3m |
| Diluted earnings per share | 0.11 | 0.11 | 0.10 | 0.10 | 0.06 | 0.06 | 0.20 | 0.10 |
| Cash from operations | €3.0m | €1.0m | €2.0m | €2.0m | €1.0m | €1.0m | €2.0m | €1.0m |
| Capital spending | — | — | −€1.0m | −€1.0m | — | — | −€1.0m | — |
| Free cash flow | — | — | €1.0m | €1.0m | — | — | €1.0m | — |
| Total assets | €22.5m | €22.5m | €21.6m | €21.6m | €16.7m | €16.7m | €13.6m | €13.6m |
| Cash and short-term investments | €8.5m | €8.5m | €6.6m | €6.6m | €5.3m | €5.3m | €2.7m | €2.6m |
| Debt | €20,219 | €20,219 | €20,219 | €20,219 | €20,059 | €20,059 | €11,455 | €11,455 |
| Shareholders' equity | €18.0m | €18.0m | €16.1m | €16.1m | €14.3m | €14.3m | €11.7m | €11.7m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 27.4% | 18.1% | 13.4% |
| Operating income | 107.1% | 61.0% | — |
| Net income | 51.1% | 46.4% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 60.3% | 47.2% | 38.6% | 28.0% |
| Net margin | 51.2% | 43.5% | 35.8% | 26.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 17.1 | 4.7 | 9.7 | 7.8 | 26.5 | 9.2 | -91.3 | -8.2 | 7.4 | 12.5 |
| Price to sales | 8.4 | 2.5 | 2.7 | 2.3 | 2.6 | 1.5 | 1.2 | 0.8 | 0.8 | 1.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 3 years. Last went ex-dividend on 31 Jul 2025.
| FY2025 | FY2024 | FY2023 | FY2009 | FY2008 | FY2007 | FY2006 | FY2005 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.07 | 0.013 | 0.013 | 0.005 | 0.023 | 0.023 | 0.019 | 0.069 |
- 3-for-2 split · 9 Jan 2025
- 2-to-1 reverse split · 7 Dec 2010
- 5-for-4 split · 12 Jun 2009
- 6-for-5 split · 2 Jun 2004
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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