I 
20.10
+0.50%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€206.5m
FY2016FY2025
Net income
€20.4m
FY2016FY2025
Free cash flow
€11.0m
FY2016FY2025
Shareholders' equity
€138.8m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €206.5m | €199.6m | €221.2m | €223.4m | €185.8m | €124.3m | €152.4m | €146.8m | €116.8m | €88.1m |
| Research and development | — | €173,000 | €277,000 | €387,000 | €446,000 | €526,000 | €754,000 | €722,000 | €392,000 | €236,000 |
| Operating income | €10.2m | €13.4m | €12.0m | €16.4m | €28.8m | €9.2m | €21.0m | €16.8m | €16.0m | €14.1m |
| Net income | €20.4m | €10.8m | €10.4m | €12.0m | €24.2m | €6.2m | €15.7m | €11.5m | €14.0m | €9.7m |
| Diluted earnings per share | 3.50 | 1.92 | 1.86 | 2.13 | 4.27 | 1.08 | 2.72 | 1.97 | 2.45 | 2.11 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €237.3m | €203.8m | €221.9m | €225.4m | €211.5m | €179.5m | €162.3m | €145.9m | €138.4m | €74.0m |
| Cash and short-term investments | €29.4m | €16.2m | €34.4m | €17.3m | €24.2m | €43.1m | €20.9m | €19.0m | €14.0m | €6.2m |
| Total liabilities | €97.7m | €79.3m | €94.8m | €104.2m | €97.8m | €86.8m | €71.6m | €65.0m | €63.5m | €38.3m |
| Debt | €46.5m | €26.6m | €42.0m | €45.8m | €36.9m | €47.6m | €33.4m | €24.9m | €28.7m | €16.1m |
| Shareholders' equity | €138.8m | €124.5m | €126.6m | €120.9m | €113.5m | €92.7m | €90.7m | €80.8m | €74.8m | €35.7m |
| Shares outstanding | 6m | 6m | 6m | 6m | 6m | 6m | 6m | 6m | 6m | 5m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €14.6m | €17.3m | €33.4m | −€5.3m | €5.6m | €14.3m | €16.2m | €15.9m | €7.0m | €7.5m |
| Capital spending | −€3.6m | −€8.7m | −€8.6m | −€5.2m | −€10.1m | −€4.3m | −€8.5m | −€4.6m | −€2.8m | −€2.7m |
| Free cash flow | €11.0m | €8.6m | €24.8m | −€10.5m | −€4.6m | €10.0m | €7.7m | €11.4m | €4.2m | €4.8m |
| Dividends paid | −€4.3m | −€4.6m | −€4.5m | −€5.7m | −€3.0m | −€3.0m | −€4.0m | −€4.0m | −€3.8m | −€3.8m |
Latest quarters
By quarter end
| Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Sept 2023 | Jun 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €98.5m | €106.4m | €91.1m | €108.5m | €100.7m | €51.7m | €120.5m | €60.3m |
| Operating income | €5.9m | €11.8m | −€246,000 | €12.0m | €4.0m | €51.7m | €8.0m | €4.1m |
| Net income | −€7,000 | €20.4m | €2.8m | €7.9m | €1.4m | €51.7m | €9.1m | €4.5m |
| Diluted earnings per share | -0.00 | 3.50 | 0.50 | 1.40 | 0.24 | 9.20 | 1.61 | 0.81 |
| Cash from operations | €12.0m | €1.0m | €12.0m | €6.0m | €20.0m | — | €14.0m | €6.0m |
| Capital spending | −€1.0m | −€2.0m | −€5.0m | −€3.0m | −€6.0m | — | −€1.0m | — |
| Free cash flow | €11.0m | −€1.0m | €7.0m | €3.0m | €14.0m | — | €13.0m | — |
| Total assets | €237.3m | €261.0m | €203.8m | €236.0m | €221.9m | — | €248.6m | €248.6m |
| Cash and short-term investments | €29.4m | €31.8m | €16.2m | €25.1m | €34.4m | — | €36.3m | €36.3m |
| Debt | €43.8m | €59.8m | €27.3m | €49.3m | €42.0m | — | €55.8m | — |
| Shareholders' equity | €138.8m | €139.4m | €124.5m | €120.9m | €126.6m | — | €126.1m | €126.1m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -2.6% | 10.7% | 10.0% |
| Operating income | -14.7% | 2.1% | -3.0% |
| Net income | 19.2% | 27.0% | 8.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 5.8% | 6.1% | 7.7% | 9.8% |
| Net margin | 7.7% | 6.3% | 7.2% | 8.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 5.5 | 11.9 | 12.9 | 11.8 | 6.3 | 21.0 | 8.0 | 12.1 | 13.6 |
| Price to sales | 0.6 | 0.6 | 0.6 | 0.6 | 0.8 | 1.1 | 0.8 | 0.9 | 1.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 5 years. Last went ex-dividend on 2 Jun 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 0.80 | 0.80 | 0.80 | 1.00 | 0.52 | 0.69 | 0.68 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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