L 
1.74
+0.58%
Close of 9 Nov 2026, in PLN
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At a glance
Figures in PLN, from our data supplier.
Revenue
PLN 80.7m
FY2016FY2025
Net income
−PLN 8.1m
FY2016FY2025
Free cash flow
−PLN 6.7m
FY2016FY2025
Shareholders' equity
PLN 86.3m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 80.7m | PLN 109.0m | PLN 150.5m | PLN 257.0m | PLN 284.5m | PLN 250.2m | PLN 200.0m | PLN 177.9m | PLN 288.2m | PLN 284.2m |
| Research and development | — | — | PLN 416,000 | PLN 343,000 | — | — | — | — | — | — |
| Operating income | −PLN 7.6m | PLN 14.4m | PLN 4.4m | −PLN 15.2m | −PLN 11.6m | PLN 5.4m | PLN 25.3m | −PLN 22.8m | −PLN 16.7m | −PLN 1.4m |
| Net income | −PLN 8.1m | PLN 17.4m | −PLN 5.4m | −PLN 10.0m | −PLN 13.4m | −PLN 1.6m | PLN 17.8m | −PLN 30.7m | −PLN 21.3m | −PLN 6.1m |
| Diluted earnings per share | -0.20 | 0.35 | -0.11 | -0.20 | -0.27 | -0.03 | 0.36 | -0.61 | -0.43 | -0.12 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 106.8m | PLN 136.3m | PLN 169.4m | PLN 244.6m | PLN 323.8m | PLN 332.5m | PLN 327.9m | PLN 297.8m | PLN 355.2m | PLN 395.0m |
| Cash and short-term investments | PLN 13.3m | PLN 22.7m | PLN 933,000 | PLN 1.2m | PLN 2.5m | PLN 4.9m | PLN 235,000 | PLN 162,000 | PLN 1.1m | PLN 4.5m |
| Total liabilities | PLN 20.5m | PLN 22.3m | PLN 60.9m | PLN 127.3m | PLN 196.5m | PLN 191.8m | PLN 185.5m | PLN 173.6m | PLN 200.1m | PLN 194.5m |
| Debt | PLN 3.1m | — | PLN 9.3m | PLN 27.6m | PLN 94.1m | PLN 94.9m | PLN 105.4m | PLN 97.1m | PLN 101.9m | PLN 99.1m |
| Shareholders' equity | PLN 86.3m | PLN 114.0m | PLN 108.6m | PLN 117.3m | PLN 127.3m | PLN 140.7m | PLN 142.4m | PLN 124.2m | PLN 155.1m | PLN 200.5m |
| Shares outstanding | 40m | 50m | 50m | 50m | 50m | 50m | 50m | 50m | 50m | 50m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −PLN 4.5m | −PLN 25.2m | −PLN 48.8m | PLN 14.4m | PLN 17.8m | PLN 29.6m | PLN 6.1m | PLN 18.8m | PLN 22.0m | PLN 29.6m |
| Capital spending | −PLN 2.2m | −PLN 2.5m | −PLN 2.3m | −PLN 6.2m | −PLN 9.3m | −PLN 10.5m | −PLN 5.1m | −PLN 3.9m | −PLN 19.4m | −PLN 17.0m |
| Free cash flow | −PLN 6.7m | −PLN 27.7m | −PLN 51.1m | PLN 8.1m | PLN 8.4m | PLN 19.1m | PLN 1.0m | PLN 14.8m | PLN 2.6m | PLN 12.7m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 26.1m | PLN 9.0m | PLN 18.7m | PLN 22.2m | PLN 23.4m | PLN 16.5m | PLN 23.5m | PLN 29.8m |
| Operating income | −PLN 351,468 | −PLN 6.3m | −PLN 3.9m | PLN 3,348 | PLN 2.1m | −PLN 4.0m | PLN 14.5m | −PLN 394,000 |
| Net income | −PLN 638,995 | −PLN 5.6m | −PLN 4.3m | −PLN 196,943 | −PLN 933,370 | −PLN 2.7m | PLN 18.4m | −PLN 1.2m |
| Diluted earnings per share | -0.02 | -0.15 | -0.11 | -0.00 | -0.02 | -0.07 | 0.37 | -0.02 |
| Cash from operations | — | −PLN 2.0m | −PLN 2.0m | — | PLN 2.0m | −PLN 3.0m | −PLN 1.0m | −PLN 3.0m |
| Capital spending | — | — | — | −PLN 1.0m | — | — | — | — |
| Total assets | PLN 94.2m | PLN 94.2m | PLN 106.8m | PLN 114.8m | PLN 134.3m | PLN 127.7m | PLN 136.3m | PLN 141.0m |
| Cash and short-term investments | PLN 1.2m | PLN 1.5m | PLN 13.3m | PLN 16.4m | PLN 18.3m | PLN 3.1m | PLN 22.7m | PLN 5.9m |
| Debt | PLN 646,724 | — | PLN 646,018 | — | — | — | — | PLN 1.6m |
| Shareholders' equity | PLN 71.2m | PLN 71.9m | PLN 86.3m | PLN 106.3m | PLN 106.5m | PLN 107.4m | PLN 114.0m | PLN 107.6m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -32.0% | -20.2% | -11.9% |
| Operating income | -20.5% | — | — |
| Net income | -6.6% | 37.9% | 6.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 3.6% | -0.7% | -0.9% | -0.7% |
| Net margin | 4.9% | -1.0% | -1.9% | -2.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -7.3 | 4.7 | -12.1 | -8.3 | -6.9 | -75.2 | 1.5 | -1.9 | -4.3 | -9.9 |
| Price to sales | 0.7 | 0.8 | 0.4 | 0.3 | 0.3 | 0.5 | 0.1 | 0.3 | 0.3 | 0.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 10 Jul 2012.
| FY2012 | |
|---|---|
| Paid in the year | 0.40 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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