P 
22.20
0.00%
Close of 6 Nov 2026, in PLN
At a glance
Figures in PLN, from our data supplier.
Revenue
PLN 133.4m
FY2016FY2025
Net income
−PLN 14.7m
FY2016FY2025
Free cash flow
−PLN 1.7m
FY2016FY2025
Shareholders' equity
PLN 25.4m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 133.4m | PLN 139.7m | PLN 280.7m | PLN 221.8m | PLN 247.8m | PLN 352.2m | PLN 323.0m | PLN 153.2m | PLN 112.0m | PLN 169.2m |
| Operating income | −PLN 10.6m | −PLN 20.5m | −PLN 26.8m | PLN 1.4m | PLN 9.2m | PLN 18.8m | PLN 10.1m | PLN 815,000 | PLN 17.1m | −PLN 23.7m |
| Net income | −PLN 14.7m | −PLN 25.7m | −PLN 24.5m | PLN 526,000 | PLN 6.1m | PLN 13.9m | PLN 7.9m | PLN 1.9m | PLN 16.8m | −PLN 23.3m |
| Diluted earnings per share | -7.31 | -12.84 | -12.21 | 0.26 | 2.61 | 4.72 | 2.68 | 0.66 | 4.32 | -5.99 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 121.4m | PLN 123.2m | PLN 159.8m | PLN 205.4m | PLN 244.6m | PLN 251.5m | PLN 259.4m | PLN 149.8m | PLN 156.8m | PLN 160.2m |
| Cash and short-term investments | PLN 4.6m | PLN 14.3m | PLN 14.2m | PLN 36.9m | PLN 23.1m | PLN 48.6m | PLN 36.2m | PLN 3.3m | PLN 28.8m | PLN 4.0m |
| Total liabilities | PLN 94.7m | PLN 81.1m | PLN 92.8m | PLN 113.0m | PLN 141.8m | PLN 138.9m | PLN 160.8m | PLN 59.4m | PLN 45.1m | PLN 65.2m |
| Debt | PLN 30.9m | PLN 28.5m | PLN 31.2m | PLN 33.0m | PLN 31.1m | PLN 29.5m | PLN 30.0m | PLN 7.9m | PLN 3.3m | PLN 10.9m |
| Shareholders' equity | PLN 25.4m | PLN 40.2m | PLN 64.9m | PLN 90.1m | PLN 99.1m | PLN 105.6m | PLN 91.8m | PLN 83.9m | PLN 105.2m | PLN 88.6m |
| Shares outstanding | 2m | 2m | 2m | 2m | 2m | 3m | 3m | 3m | 4m | 4m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −PLN 1.1m | PLN 2.8m | −PLN 15.5m | PLN 7.5m | −PLN 5.0m | PLN 4.3m | PLN 35.9m | −PLN 4.6m | PLN 33.7m | −PLN 14.7m |
| Capital spending | −PLN 636,000 | −PLN 451,000 | −PLN 2.4m | −PLN 1.2m | −PLN 1.5m | −PLN 1.1m | −PLN 1.5m | −PLN 1.2m | −PLN 1.6m | −PLN 1.7m |
| Free cash flow | −PLN 1.7m | PLN 2.3m | −PLN 17.9m | PLN 6.3m | −PLN 6.5m | PLN 3.2m | PLN 34.5m | −PLN 5.8m | PLN 32.0m | −PLN 16.4m |
| Dividends paid | −PLN 444,000 | −PLN 72,000 | — | — | — | — | — | −PLN 24.1m | −PLN 60,000 | −PLN 6.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 54.3m | PLN 36.1m | PLN 44.1m | PLN 40.6m | PLN 27.6m | PLN 21.1m | PLN 18.1m | PLN 36.3m |
| Operating income | −PLN 6.3m | −PLN 61,000 | −PLN 5.5m | PLN 1.4m | −PLN 2.5m | −PLN 4.5m | −PLN 12.2m | −PLN 3.0m |
| Net income | −PLN 7.3m | −PLN 1.6m | −PLN 4.6m | PLN 940,000 | −PLN 5.2m | −PLN 5.7m | −PLN 12.2m | −PLN 4.1m |
| Diluted earnings per share | -3.62 | -0.81 | -2.30 | 0.47 | -2.62 | -2.86 | -6.06 | -2.06 |
| Cash from operations | — | — | PLN 5.0m | — | — | −PLN 6.0m | PLN 4.0m | −PLN 9.0m |
| Total assets | PLN 116.5m | PLN 115.6m | PLN 121.4m | PLN 130.7m | PLN 117.5m | PLN 119.7m | PLN 123.2m | PLN 137.2m |
| Cash and short-term investments | PLN 3.1m | PLN 3.7m | PLN 4.6m | PLN 10.5m | PLN 4.5m | PLN 4.6m | PLN 14.3m | PLN 8.9m |
| Debt | PLN 11.6m | PLN 11.6m | PLN 15.9m | PLN 15.6m | PLN 9.5m | PLN 10.3m | PLN 4.3m | PLN 8.7m |
| Shareholders' equity | PLN 16.5m | PLN 23.7m | PLN 25.4m | PLN 30.2m | PLN 29.2m | PLN 34.5m | PLN 40.2m | PLN 51.5m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -15.6% | -17.7% | -6.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -11.4% | -7.3% | -2.1% | -0.6% |
| Net margin | -14.8% | -8.3% | -3.2% | -1.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -3.1 | -2.3 | -2.4 | 127.3 | 9.3 | 4.0 | 6.0 | 26.3 | 4.7 | -2.9 |
| Price to sales | 0.3 | 0.4 | 0.2 | 0.3 | 0.2 | 0.2 | 0.1 | 0.3 | 0.7 | 0.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 29 Jun 2016.
| FY2016 | FY2015 | FY2013 | FY2009 | FY2008 | FY2007 | FY2006 | FY2005 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.59 | 0.35 | 0.78 | 0.13 | 0.70 | 1.00 | 1.40 | 0.40 |
- 5-for-1 split · 16 Feb 1995
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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