K 
0.80
-1.24%
Close of 9 Nov 2026, in PLN
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in PLN, from our data supplier.
Revenue
PLN 19.0m
FY2016FY2025
Net income
−PLN 5.3m
FY2016FY2025
Free cash flow
−PLN 7.3m
FY2016FY2025
Shareholders' equity
PLN 339.1m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 19.0m | PLN 55.1m | PLN 102.4m | PLN 104.8m | PLN 96.2m | PLN 108.1m | PLN 101.9m | PLN 105.2m | PLN 119.9m |
| Research and development | — | — | PLN 2.1m | PLN 1.3m | PLN 840,000 | PLN 1.7m | PLN 0 | PLN 1 | — |
| Operating income | −PLN 6.2m | PLN 2.4m | PLN 3.2m | PLN 14.6m | PLN 16.5m | PLN 20.7m | PLN 3.7m | −PLN 133.6m | −PLN 1.4m |
| Net income | −PLN 5.3m | PLN 23.1m | −PLN 13.9m | −PLN 85.9m | PLN 86.0m | PLN 18.0m | PLN 1.1m | −PLN 89.0m | PLN 542,000 |
| Diluted earnings per share | -0.08 | 0.34 | -0.20 | -1.25 | 1.25 | 0.26 | 0.02 | -1.30 | 0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 389.5m | PLN 372.4m | PLN 469.1m | PLN 487.1m | PLN 545.9m | PLN 401.8m | PLN 394.7m | PLN 403.7m | PLN 501.0m |
| Cash and short-term investments | PLN 2.3m | PLN 13.3m | PLN 12.1m | PLN 32.5m | PLN 5.3m | PLN 2.6m | PLN 2.0m | PLN 4.9m | PLN 1.0m |
| Total liabilities | PLN 50.3m | PLN 18.0m | PLN 53.1m | PLN 69.2m | PLN 91.8m | PLN 74.4m | PLN 99.5m | PLN 98.4m | PLN 133.7m |
| Debt | PLN 31.3m | — | PLN 3.4m | PLN 8.5m | PLN 17.9m | PLN 22.8m | PLN 69.3m | PLN 46.4m | PLN 66.0m |
| Shareholders' equity | PLN 339.1m | PLN 354.4m | PLN 337.5m | PLN 326.2m | PLN 380.4m | PLN 293.0m | PLN 270.3m | PLN 274.2m | PLN 366.5m |
| Shares outstanding | 69m | 69m | 69m | 69m | 69m | 69m | 69m | 69m | 66m |
Cash flow
Fiscal years
| FY2025 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −PLN 6.1m | −PLN 17.9m | −PLN 55.4m | PLN 5.1m | PLN 18.9m | PLN 22.2m | PLN 10.1m | PLN 9.2m | −PLN 21.4m |
| Capital spending | −PLN 1.2m | −PLN 3.8m | −PLN 10.4m | −PLN 5.0m | −PLN 6.6m | −PLN 4.1m | −PLN 35,000 | −PLN 35,000 | −PLN 35,000 |
| Free cash flow | −PLN 7.3m | −PLN 21.7m | −PLN 65.8m | PLN 132,000 | PLN 12.3m | PLN 18.1m | PLN 10.0m | PLN 9.2m | −PLN 21.5m |
| Dividends paid | — | −PLN 2.0m | −PLN 4.3m | −PLN 2.5m | −PLN 897,000 | −PLN 897,000 | −PLN 897,000 | −PLN 897,000 | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 2.1m | PLN 1.1m | PLN 1.6m | PLN 7.3m | PLN 9.2m | PLN 380,000 | PLN 367,000 | PLN 2.4m |
| Operating income | −PLN 1.5m | −PLN 1.5m | −PLN 2.0m | −PLN 923,000 | −PLN 970,000 | −PLN 2.7m | −PLN 812,000 | PLN 1.5m |
| Net income | −PLN 2.8m | −PLN 4.0m | −PLN 6.1m | PLN 1.4m | PLN 2.8m | −PLN 3.4m | −PLN 14.6m | PLN 1.3m |
| Diluted earnings per share | -0.04 | -0.06 | -0.09 | 0.02 | 0.04 | -0.05 | -0.21 | 0.02 |
| Cash from operations | −PLN 3.0m | −PLN 1.0m | −PLN 6.0m | PLN 2.0m | PLN 4.0m | −PLN 7.0m | −PLN 4.0m | PLN 6.0m |
| Capital spending | — | — | — | — | — | −PLN 1.0m | — | — |
| Free cash flow | — | — | — | — | — | −PLN 8.0m | — | — |
| Total assets | PLN 392.1m | PLN 392.3m | PLN 389.5m | PLN 384.6m | PLN 383.5m | PLN 360.6m | PLN 362.1m | PLN 382.2m |
| Cash and short-term investments | PLN 98,000 | PLN 337,000 | PLN 2.3m | PLN 419,000 | PLN 1.3m | PLN 78,000 | PLN 1.1m | PLN 8.8m |
| Debt | PLN 18.3m | PLN 35.4m | PLN 31.3m | PLN 18.6m | PLN 21.7m | PLN 12.8m | PLN 12.2m | — |
| Shareholders' equity | PLN 334.5m | PLN 336.9m | PLN 339.1m | PLN 347.6m | PLN 345.4m | PLN 337.6m | PLN 335.5m | PLN 360.6m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -43.0% | -27.7% | -12.9% |
| Operating income | — | — | -12.6% |
| Net income | -27.6% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -38.4% | -1.2% | 7.6% | -11.9% |
| Net margin | -66.7% | -2.5% | -1.1% | -5.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -11.5 | -6.8 | 2.8 | -4.0 | -1.0 | 0.6 | 1.8 | 29.4 | -0.6 | 84.6 |
| Price to sales | 3.2 | 38.9 | 1.2 | 0.5 | 0.8 | 0.5 | 0.3 | 0.3 | 0.5 | 0.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 27 May 1999.
| FY1999 | |
|---|---|
| Paid in the year | 0.017 |
- 28-to-1 reverse split · 8 Nov 2016
- 10-for-1 split · 28 Feb 2014
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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