I 
1.36
-3.55%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€33.3m
FY2016FY2025
Net income
−€3.2m
FY2016FY2025
Free cash flow
−€1.4m
FY2016FY2025
Shareholders' equity
€12.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €33.3m | €38.8m | €38.0m | €36.8m | €36.0m | €33.6m | €31.6m | €31.2m | €35.8m | €34.2m |
| Gross profit | €14.7m | €17.7m | €15.8m | €15.7m | €17.4m | €15.7m | €11.1m | €11.9m | €17.6m | €15.7m |
| Research and development | €7.2m | €6.7m | €6.9m | €6.9m | €5.7m | €3.8m | €4.6m | €4.7m | €5.1m | €5.9m |
| Operating income | −€2.8m | €73,000 | −€2.5m | −€2.9m | €1.7m | €1.2m | −€6.5m | −€5.9m | €419,000 | −€2.4m |
| Net income | −€3.2m | −€353,000 | −€3.1m | −€3.6m | €810,000 | €793,000 | −€6.8m | −€6.7m | −€664,000 | −€3.0m |
| Diluted earnings per share | -0.20 | -0.02 | -0.21 | -0.25 | 0.05 | 0.06 | -0.48 | -0.47 | -0.02 | -0.09 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €37.2m | €41.7m | €38.0m | €41.3m | €39.6m | €29.4m | €27.6m | €22.7m | €25.0m | €27.1m |
| Cash and short-term investments | €8.8m | €8.7m | €10.0m | €10.5m | €12.2m | €11.6m | €7.7m | €7.2m | €8.9m | €10.9m |
| Total liabilities | €25.2m | €30.8m | €26.7m | €27.4m | €22.1m | €12.8m | €11.9m | €9.0m | €9.7m | €11.1m |
| Debt | €9.2m | €12.8m | €12.5m | €14.7m | €13.3m | €2.7m | €3.3m | €3.0m | €2.8m | €3.8m |
| Shareholders' equity | €12.0m | €11.0m | €11.4m | €13.9m | €17.4m | €16.5m | €15.7m | €13.6m | €15.3m | €16.1m |
| Shares outstanding | 16m | 15m | 15m | 14m | 16m | 14m | 14m | 14m | 34m | 32m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −€329,000 | €2.1m | €3.0m | €1.2m | €4.6m | €4.7m | −€1.8m | −€4.1m | €1.7m | −€862,000 |
| Capital spending | −€1.0m | −€53,000 | −€839,000 | −€2.7m | −€1.8m | −€2.2m | −€2.7m | −€2.9m | −€2.6m | −€2.8m |
| Free cash flow | −€1.4m | €2.1m | €2.1m | −€1.5m | €2.8m | €2.5m | −€4.5m | −€7.0m | −€904,000 | −€3.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €7.8m | €7.9m | €8.0m | €8.0m | €8.1m | €9.1m | €9.0m | €10.7m |
| Gross profit | €3.8m | €3.9m | €3.2m | €4.0m | €3.2m | €4.4m | €3.8m | €5.4m |
| Operating income | −€298,000 | €138,000 | −€1.4m | −€69,000 | −€965,000 | €73,000 | −€497,000 | €1.0m |
| Net income | −€36,000 | −€18,000 | −€1.5m | −€610,000 | −€1.1m | −€68,000 | −€606,000 | €904,000 |
| Diluted earnings per share | -0.00 | -0.00 | -0.09 | -0.04 | -0.07 | -0.00 | -0.04 | 0.06 |
| Cash from operations | €1.0m | €2.0m | −€1.0m | — | €2.0m | — | €2.0m | — |
| Total assets | €34.2m | €34.7m | €37.2m | €33.3m | €36.9m | €36.4m | €41.7m | €35.8m |
| Cash and short-term investments | €11.1m | €10.9m | €8.8m | €8.2m | €10.4m | €7.8m | €8.7m | €6.4m |
| Debt | €2.7m | €2.9m | €4.2m | €3.5m | €6.0m | €4.5m | €5.9m | €5.1m |
| Shareholders' equity | €12.0m | €12.0m | €12.0m | €9.1m | €9.7m | €10.9m | €11.0m | €11.6m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -3.3% | -0.2% | -2.5% |
| Operating income | -1.2% | — | — |
| Net income | -3.3% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 44.9% | 43.5% | 44.8% | 44.0% |
| Operating margin | -3.7% | -5.5% | -2.4% | -4.9% |
| Net margin | -5.0% | -7.0% | -4.0% | -6.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -5.4 | -72.3 | -9.9 | -10.3 | 77.7 | 56.2 | -5.9 | -7.8 | -251.9 | -32.9 |
| Price to sales | 0.5 | 0.7 | 0.8 | 1.0 | 1.8 | 1.3 | 1.3 | 1.7 | 4.7 | 2.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 3-to-1 reverse split · 13 Feb 2020
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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