M 
11.85
+0.42%
Close of 6 Nov 2026, in PLN
At a glance
Figures in PLN, from our data supplier.
Revenue
PLN 169.4m
FY2016FY2025
Net income
PLN 2.0m
FY2016FY2025
Free cash flow
PLN 10.0m
FY2016FY2025
Shareholders' equity
PLN 20.3m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 169.4m | PLN 114.1m | PLN 114.1m | PLN 156.5m | PLN 178.2m | PLN 96.8m | PLN 114.2m | PLN 100.6m | PLN 104.1m | PLN 109.7m |
| Gross profit | PLN 15.0m | −PLN 1.2m | −PLN 6.2m | PLN 10.2m | PLN 31.5m | PLN 13.4m | PLN 13.8m | PLN 1.4m | −PLN 2.8m | PLN 1.2m |
| Research and development | PLN 807,000 | PLN 10,000 | — | — | — | — | — | — | — | — |
| Operating income | PLN 6.1m | −PLN 5.1m | −PLN 12.3m | PLN 4.1m | PLN 21.4m | PLN 5.9m | PLN 5.7m | −PLN 4.6m | −PLN 8.8m | −PLN 4.8m |
| Net income | PLN 2.0m | −PLN 6.4m | −PLN 11.7m | PLN 2.8m | PLN 19.2m | PLN 4.5m | PLN 5.1m | −PLN 6.7m | −PLN 10.0m | −PLN 5.0m |
| Diluted earnings per share | 1.02 | -3.18 | -5.85 | 1.38 | 9.62 | 2.24 | 2.57 | -3.33 | -5.00 | -2.49 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 85.6m | PLN 102.3m | PLN 98.2m | PLN 63.0m | PLN 137.0m | PLN 90.9m | PLN 68.1m | PLN 90.8m | PLN 60.3m | PLN 77.4m |
| Cash and short-term investments | PLN 331,000 | PLN 3.6m | PLN 13.4m | PLN 20.3m | PLN 32.2m | PLN 9.1m | PLN 3.3m | PLN 14.1m | PLN 96,000 | PLN 118,000 |
| Total liabilities | PLN 65.3m | PLN 84.1m | PLN 73.6m | PLN 25.1m | PLN 93.9m | PLN 66.0m | PLN 47.7m | PLN 75.5m | PLN 38.4m | PLN 45.5m |
| Debt | PLN 5.6m | PLN 18.9m | PLN 6.6m | PLN 5.8m | PLN 7.5m | PLN 4.2m | PLN 1.5m | PLN 6.7m | PLN 6.0m | PLN 8.3m |
| Shareholders' equity | PLN 20.3m | PLN 18.2m | PLN 24.6m | PLN 37.9m | PLN 43.1m | PLN 24.9m | PLN 20.4m | PLN 15.3m | PLN 21.9m | PLN 31.9m |
| Shares outstanding | 2m | 2m | 2m | 2m | 2m | 2m | 2m | 2m | 2m | 2m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | PLN 11.2m | −PLN 20.6m | −PLN 495,000 | PLN 276,000 | PLN 28.4m | PLN 6.3m | −PLN 4.1m | PLN 14.3m | PLN 3.9m | −PLN 10.9m |
| Capital spending | −PLN 1.1m | −PLN 2.6m | −PLN 4.9m | −PLN 1.8m | −PLN 885,000 | −PLN 1.3m | −PLN 447,000 | −PLN 484,000 | −PLN 778,000 | −PLN 386,000 |
| Free cash flow | PLN 10.0m | −PLN 23.1m | −PLN 5.4m | −PLN 1.5m | PLN 27.5m | PLN 5.0m | −PLN 4.6m | PLN 13.8m | PLN 3.1m | −PLN 11.3m |
| Dividends paid | — | — | −PLN 1.6m | −PLN 8.0m | −PLN 1.0m | −PLN 1.0m | −PLN 1.0m | −PLN 1.0m | — | — |
Latest quarters
By quarter end
| Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | Jun 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 37.3m | PLN 32.2m | PLN 47.9m | PLN 46.5m | PLN 42.9m | PLN 48.1m | PLN 25.6m | PLN 18.4m |
| Gross profit | PLN 2.6m | PLN 9.4m | — | PLN 2.8m | PLN 2.8m | PLN 4.5m | PLN 1.8m | −PLN 5.3m |
| Operating income | PLN 718,000 | PLN 1.4m | PLN 2.4m | PLN 1.0m | PLN 1.3m | PLN 2.7m | PLN 2,000 | −PLN 6.3m |
| Net income | PLN 357,000 | −PLN 313,000 | PLN 1.3m | PLN 470,000 | PLN 569,000 | PLN 4.2m | −PLN 203,000 | −PLN 6.7m |
| Diluted earnings per share | 0.18 | -0.16 | 0.66 | 0.24 | 0.28 | 2.11 | -0.10 | -3.37 |
| Cash from operations | PLN 6.0m | PLN 7.0m | PLN 7.0m | −PLN 3.0m | −PLN 1.0m | PLN 3.0m | −PLN 5.0m | −PLN 9.0m |
| Capital spending | — | — | — | — | — | — | — | −PLN 1.0m |
| Free cash flow | — | — | — | — | — | — | — | −PLN 10.0m |
| Total assets | PLN 86.7m | PLN 85.6m | PLN 85.6m | PLN 101.0m | PLN 96.1m | PLN 102.3m | PLN 80.3m | PLN 65.6m |
| Cash and short-term investments | PLN 3.8m | PLN 331,000 | PLN 331,000 | PLN 421,000 | PLN 609,000 | PLN 3.6m | PLN 290,000 | PLN 517,000 |
| Debt | — | PLN 3.0m | PLN 3.0m | PLN 17.6m | PLN 14.0m | PLN 14.7m | PLN 18.2m | PLN 12.6m |
| Shareholders' equity | PLN 20.6m | PLN 20.3m | PLN 20.3m | PLN 19.3m | PLN 18.8m | PLN 18.2m | PLN 14.0m | PLN 14.2m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 2.7% | 11.8% | 6.0% |
| Operating income | 14.2% | 0.9% | 35.4% |
| Net income | -9.7% | -14.5% | 16.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 4.9% | 3.2% | 7.6% | 5.9% |
| Operating margin | 0.4% | -1.3% | 2.4% | 0.6% |
| Net margin | -1.5% | -2.4% | 1.3% | -0.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 13.8 | -2.5 | -3.0 | 12.1 | 2.5 | 4.4 | 2.5 | -0.9 | -1.9 | -4.2 |
| Price to sales | 0.2 | 0.1 | 0.3 | 0.2 | 0.3 | 0.2 | 0.1 | 0.1 | 0.2 | 0.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 26 Jun 2023.
| FY2023 | FY2022 | FY2021 | FY2015 | FY2013 | FY2011 | FY2010 | FY2009 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.80 | 4.00 | 0.50 | 1.39 | 1.18 | 1.30 | 4.00 | 4.25 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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