P 
0.78
-1.76%
Close of 6 Nov 2026, in PLN
At a glance
Figures in PLN, from our data supplier.
Revenue
PLN 79.5m
FY2016FY2025
Net income
−PLN 9.4m
FY2016FY2025
Free cash flow
−PLN 2.0m
FY2016FY2025
Shareholders' equity
PLN 15.8m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 79.5m | PLN 83.8m | PLN 99.8m | PLN 100.4m | PLN 93.8m | PLN 90.8m | PLN 99.7m | PLN 104.2m | PLN 112.1m | PLN 107.6m |
| Gross profit | PLN 27.7m | PLN 22.5m | PLN 30.8m | PLN 35.3m | PLN 32.2m | PLN 33.4m | PLN 37.2m | PLN 36.9m | PLN 37.7m | PLN 37.1m |
| Operating income | −PLN 5.4m | −PLN 6.5m | −PLN 3.6m | PLN 2.9m | PLN 624,000 | PLN 2.1m | PLN 3.0m | PLN 2.7m | PLN 7.4m | PLN 7.2m |
| Net income | −PLN 9.4m | −PLN 10.2m | −PLN 6.9m | −PLN 1.2m | PLN 682,000 | PLN 733,000 | −PLN 519,000 | −PLN 536,000 | PLN 2.3m | PLN 3.3m |
| Diluted earnings per share | -0.28 | -0.43 | -0.29 | -0.05 | 0.03 | 0.03 | -0.02 | -0.02 | 0.10 | 0.14 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 54.9m | PLN 64.9m | PLN 82.8m | PLN 99.0m | PLN 93.6m | PLN 99.0m | PLN 93.5m | PLN 87.3m | PLN 86.3m | PLN 84.3m |
| Cash and short-term investments | PLN 1.7m | PLN 2.0m | PLN 2.5m | PLN 2.4m | PLN 2.0m | PLN 6.1m | PLN 3.7m | PLN 1.7m | PLN 4.0m | PLN 8.4m |
| Total liabilities | PLN 38.8m | PLN 41.2m | PLN 48.5m | PLN 54.8m | PLN 48.5m | PLN 47.4m | PLN 44.8m | PLN 33.5m | PLN 31.1m | PLN 23.5m |
| Debt | PLN 24.9m | PLN 23.4m | PLN 27.5m | PLN 31.6m | PLN 29.9m | PLN 30.3m | PLN 29.6m | PLN 17.0m | PLN 16.1m | PLN 9.2m |
| Shareholders' equity | PLN 15.8m | PLN 23.3m | PLN 34.0m | PLN 43.7m | PLN 44.7m | PLN 50.0m | PLN 47.1m | PLN 52.2m | PLN 53.5m | PLN 59.2m |
| Shares outstanding | 33m | 24m | 24m | 24m | 24m | 24m | 24m | 24m | 24m | 24m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −PLN 1.6m | PLN 7.1m | PLN 8.0m | PLN 5.8m | PLN 2.2m | PLN 6.2m | PLN 6.6m | PLN 820,000 | PLN 4.1m | PLN 14.1m |
| Capital spending | −PLN 346,000 | −PLN 277,000 | −PLN 1.1m | −PLN 2.3m | −PLN 2.0m | −PLN 3.1m | −PLN 1.7m | −PLN 1.1m | −PLN 3.5m | −PLN 1.8m |
| Free cash flow | −PLN 2.0m | PLN 6.8m | PLN 6.9m | PLN 3.5m | PLN 173,000 | PLN 3.0m | PLN 5.0m | −PLN 260,000 | PLN 640,000 | PLN 12.3m |
| Dividends paid | — | — | — | −PLN 19,000 | −PLN 92,000 | −PLN 91,000 | −PLN 91,000 | −PLN 2.3m | −PLN 4.4m | −PLN 5.9m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 18.1m | PLN 20.3m | PLN 19.8m | PLN 19.8m | PLN 19.0m | PLN 20.9m | PLN 18.9m | PLN 20.1m |
| Gross profit | PLN 8.2m | PLN 7.8m | PLN 8.2m | PLN 5.9m | PLN 7.5m | PLN 6.1m | PLN 4.2m | PLN 4.7m |
| Operating income | PLN 982,000 | PLN 1.1m | PLN 1.1m | −PLN 1.2m | −PLN 2.0m | PLN 116,000 | −PLN 4.1m | −PLN 1.6m |
| Net income | −PLN 1.6m | −PLN 2.3m | −PLN 3.2m | −PLN 2.0m | −PLN 3.6m | −PLN 681,000 | −PLN 4.6m | −PLN 2.8m |
| Diluted earnings per share | -0.04 | -0.06 | -0.10 | -0.06 | -0.11 | -0.02 | -0.20 | -0.12 |
| Cash from operations | −PLN 4.0m | — | PLN 1.0m | — | — | −PLN 2.0m | PLN 5.0m | — |
| Total assets | PLN 67.3m | PLN 55.8m | PLN 54.9m | PLN 58.5m | PLN 64.1m | PLN 66.5m | PLN 64.9m | PLN 74.4m |
| Cash and short-term investments | PLN 1.2m | PLN 2.1m | PLN 1.7m | PLN 456,000 | PLN 604,000 | PLN 1.9m | PLN 2.0m | PLN 1.8m |
| Debt | PLN 24.2m | PLN 20.1m | PLN 18.3m | PLN 20.2m | PLN 20.7m | PLN 22.0m | PLN 19.1m | PLN 21.9m |
| Shareholders' equity | PLN 14.9m | PLN 16.0m | PLN 15.8m | PLN 18.7m | PLN 20.5m | PLN 22.0m | PLN 23.3m | PLN 27.9m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -7.5% | -2.6% | -2.5% |
| Net income | 97.3% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 30.7% | 32.0% | 33.2% | 34.5% |
| Operating margin | -7.3% | -3.5% | -1.8% | 2.0% |
| Net margin | -12.0% | -7.6% | -4.8% | -1.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -3.5 | -2.0 | -6.2 | -40.3 | 100.1 | 116.2 | -157.3 | -202.6 | 40.2 | 21.6 |
| Price to sales | 0.4 | 0.2 | 0.4 | 0.5 | 0.7 | 0.9 | 0.8 | 1.0 | 0.8 | 0.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 10 Sept 2018.
| FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2005 | FY2004 | FY2003 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.12 | 0.23 | 0.31 | 0.29 | 0.27 | 0.50 | 0.317 | 0.025 |
- 6-for-1 split · 7 Sept 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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