M 
0.77
-2.79%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€52.7m
FY2016FY2025
Net income
€2.8m
FY2016FY2025
Free cash flow
€1.5m
FY2016FY2025
Shareholders' equity
€15.6m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €52.7m | €50.0m | €63.2m | €56.0m | €62.4m | €70.4m | €69.9m | €63.5m | €65.5m | €79.6m |
| Research and development | — | — | €5.5m | €6.1m | — | — | — | — | — | — |
| Operating income | −€6.3m | −€3.9m | −€4.7m | −€7.9m | €516,000 | €6.3m | €2.0m | €1.4m | −€7.5m | −€991,000 |
| Net income | €2.8m | −€5.5m | −€5.4m | −€6.3m | −€62,000 | €4.7m | €884,000 | €819,000 | −€6.3m | −€1.7m |
| Diluted earnings per share | 0.21 | -0.42 | -0.41 | -0.48 | -0.00 | 0.36 | 0.07 | 0.06 | -0.48 | -0.13 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €73.0m | €76.8m | €81.5m | €88.0m | €71.0m | €63.5m | €53.9m | €57.7m | €53.6m | €53.2m |
| Cash and short-term investments | €6.7m | €1.3m | €944,000 | €2.3m | €1.4m | €2.1m | €1.7m | €2.4m | €7.5m | €3.1m |
| Total liabilities | €57.4m | €63.9m | €63.3m | €64.2m | €40.7m | €32.7m | €27.3m | €24.2m | €27.3m | €21.1m |
| Debt | €3.4m | €8.1m | €14.0m | €38.7m | €26.1m | €23.6m | €17.3m | €17.0m | €18.4m | €12.5m |
| Shareholders' equity | €15.6m | €12.9m | €18.2m | €23.7m | €30.3m | €30.8m | €26.7m | €33.5m | €26.3m | €32.1m |
| Shares outstanding | 13m | 13m | 13m | 13m | 13m | 13m | 13m | 13m | 13m | 13m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €1.7m | €6.0m | €2.7m | −€4.4m | €3.1m | −€526,000 | €1.4m | −€1.1m | −€384,000 | €3.6m |
| Capital spending | −€231,000 | −€505,000 | −€4.9m | −€4.9m | −€5.6m | −€4.6m | −€2.0m | −€1.8m | −€890,000 | −€1.1m |
| Free cash flow | €1.5m | €5.5m | −€2.2m | −€9.3m | −€2.5m | −€5.2m | −€595,000 | −€2.9m | −€1.3m | €2.5m |
| Dividends paid | — | — | — | −€531,000 | −€531,000 | −€531,000 | −€531,000 | −€531,000 | −€531,000 | −€6.6m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Dec 2023 | Sept 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €23.9m | €24.8m | €29.9m | €27.1m | €25.2m | €12.6m | €30.0m | €16.1m |
| Operating income | −€1.4m | €7.2m | €5.0m | €201,000 | €2.6m | −€1.8m | −€4.3m | −€213,500 |
| Net income | −€3.0m | €3.4m | −€638,000 | −€1.7m | −€3.9m | −€1.9m | −€5.1m | −€2.6m |
| Diluted earnings per share | -0.23 | 0.26 | -0.05 | -0.13 | -0.29 | -0.15 | -0.39 | -0.19 |
| Cash from operations | — | €1.0m | €3.0m | €3.0m | — | — | €1.0m | — |
| Capital spending | — | — | −€2.0m | — | — | — | −€2.0m | — |
| Free cash flow | — | — | €1.0m | — | — | — | −€1.0m | — |
| Total assets | €66.8m | €73.0m | €73.7m | €76.8m | €76.2m | €76.2m | €81.5m | €81.5m |
| Cash and short-term investments | €2.9m | €6.7m | €1.4m | €1.3m | €1.7m | €1.7m | €944,000 | €944,000 |
| Debt | — | €3.4m | — | €8.1m | €28.3m | €28.3m | €14.0m | €9.8m |
| Shareholders' equity | €12.4m | €15.6m | €12.1m | €12.9m | €14.4m | €14.4m | €18.2m | €18.2m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -2.1% | -5.6% | -4.1% |
| Operating income | -7.4% | — | — |
| Net income | — | -10.0% | -3.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -9.9% | -10.3% | -4.5% | -2.0% |
| Net margin | -2.7% | -6.5% | -2.8% | -1.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 2.9 | -1.1 | -4.5 | -6.5 | -1040.5 | 20.4 | 126.5 | 130.8 | -16.2 | -112.1 |
| Price to sales | 0.1 | 0.1 | 0.4 | 0.7 | 1.0 | 1.4 | 1.6 | 1.7 | 1.6 | 2.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 28 Jan 2022.
| FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2016 | FY2015 | FY2014 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.005 | 0.30 | 0.25 |
- 3-for-1 split · 18 Nov 2011
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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