P 
2.86
+2.14%
Close of 9 Nov 2026, in PLN
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At a glance
Figures in PLN, from our data supplier.
Revenue
PLN 1.6m
FY2016FY2025
Net income
−PLN 2.8m
FY2016FY2025
Free cash flow
−PLN 3.0m
FY2016FY2025
Shareholders' equity
PLN 9.6m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 1.6m | PLN 268,000 | PLN 9.8m | PLN 299,000 | PLN 15.2m | PLN 9.9m | PLN 11.1m | PLN 13.0m | PLN 12.5m | PLN 15.9m |
| Research and development | — | PLN 10,000 | — | PLN 153,000 | PLN 133,000 | — | PLN 98,000 | — | — | — |
| Operating income | −PLN 3.3m | −PLN 3.4m | PLN 34.9m | −PLN 508,000 | −PLN 4.1m | −PLN 6.0m | −PLN 10.3m | PLN 83,000 | −PLN 2.0m | −PLN 1.1m |
| Net income | −PLN 2.8m | −PLN 1.3m | PLN 28.9m | −PLN 1.6m | −PLN 4.6m | −PLN 6.9m | −PLN 9.6m | −PLN 444,000 | −PLN 2.4m | −PLN 1.7m |
| Diluted earnings per share | -0.25 | -0.11 | 2.60 | -0.14 | -0.41 | -0.62 | -0.87 | -0.05 | -0.26 | -0.18 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 10.9m | PLN 13.5m | PLN 24.1m | PLN 12.6m | PLN 11.2m | PLN 10.9m | PLN 11.7m | PLN 6.8m | PLN 11.1m | PLN 14.3m |
| Cash and short-term investments | PLN 357,000 | PLN 1.7m | PLN 22.2m | PLN 1.6m | PLN 1.5m | PLN 1.7m | PLN 1.0m | PLN 469,000 | PLN 221,000 | PLN 815,000 |
| Total liabilities | PLN 1.3m | PLN 1.1m | PLN 1.9m | PLN 19.4m | PLN 16.3m | PLN 11.3m | PLN 6.7m | PLN 4.9m | PLN 7.5m | PLN 8.3m |
| Debt | PLN 366,000 | PLN 244,000 | PLN 183,000 | PLN 10.1m | PLN 9.7m | PLN 5.5m | PLN 489,000 | PLN 1.1m | PLN 3.6m | PLN 4.4m |
| Shareholders' equity | PLN 9.6m | PLN 12.4m | PLN 22.5m | −PLN 6.5m | −PLN 4.9m | −PLN 139,000 | PLN 5.1m | PLN 1.9m | PLN 3.6m | PLN 5.9m |
| Shares outstanding | 11m | 11m | 11m | 11m | 11m | 11m | 11m | 9m | 9m | 9m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −PLN 2.7m | −PLN 2.5m | PLN 33.0m | PLN 1.8m | −PLN 3.2m | −PLN 2.2m | −PLN 13.1m | PLN 3.6m | PLN 619,000 | −PLN 950,000 |
| Capital spending | −PLN 237,000 | −PLN 180,000 | −PLN 314,000 | −PLN 226,000 | −PLN 319,000 | −PLN 214,000 | −PLN 273,000 | −PLN 446,000 | −PLN 197,000 | −PLN 124,000 |
| Free cash flow | −PLN 3.0m | −PLN 2.7m | PLN 32.7m | PLN 1.6m | −PLN 3.5m | −PLN 2.5m | −PLN 13.4m | PLN 3.2m | PLN 422,000 | −PLN 1.1m |
| Dividends paid | — | −PLN 9.5m | — | — | — | — | — | — | — | −PLN 1.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 242,000 | PLN 421,000 | PLN 391,000 | PLN 407,000 | PLN 386,000 | PLN 393,000 | PLN 88,000 | PLN 22,000 |
| Operating income | −PLN 1.0m | −PLN 552,000 | −PLN 950,000 | −PLN 787,000 | −PLN 876,000 | −PLN 666,000 | −PLN 729,000 | −PLN 618,000 |
| Net income | −PLN 996,000 | −PLN 481,000 | −PLN 890,000 | −PLN 690,000 | −PLN 700,000 | −PLN 489,000 | −PLN 118,000 | −PLN 475,000 |
| Diluted earnings per share | -0.09 | -0.04 | -0.08 | -0.06 | -0.06 | -0.04 | -0.01 | -0.04 |
| Capital spending | — | — | — | — | — | −PLN 9.0m | — | — |
| Total assets | PLN 9.5m | PLN 10.3m | PLN 10.9m | PLN 11.4m | PLN 12.2m | PLN 12.9m | PLN 13.5m | PLN 12.6m |
| Cash and short-term investments | PLN 421,000 | PLN 6.8m | PLN 357,000 | PLN 8.5m | PLN 209,000 | PLN 10.1m | PLN 1.7m | PLN 10.8m |
| Debt | PLN 73,000 | PLN 92,000 | PLN 108,000 | PLN 80,000 | PLN 80,000 | PLN 76,000 | PLN 80,000 | PLN 72,000 |
| Shareholders' equity | PLN 8.2m | PLN 9.2m | PLN 9.6m | PLN 10.5m | PLN 11.2m | PLN 11.9m | PLN 12.4m | PLN 11.8m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 74.1% | -30.8% | -21.4% |
| Operating income | 86.2% | -11.5% | 1.5% |
| Net income | 20.8% | -16.7% | -2.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -362.0% | 231.1% | 47.2% | 1.2% |
| Net margin | -218.5% | 194.8% | 31.9% | -5.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -10.5 | -33.8 | 2.7 | -39.7 | -19.2 | -14.6 | -6.2 | -131.7 | -82.7 | -97.7 |
| Price to sales | 18.4 | 159.2 | 8.0 | 208.6 | 5.8 | 10.1 | 5.3 | 4.5 | 15.8 | 10.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 9 Apr 2024.
| FY2024 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.85 | 0.115 | 0.105 | 0.105 | 0.096 | 0.045 | 0.009 | 0.053 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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