R 
24.40
—
Close of 2 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€94.3m
FY2016FY2025
Net income
−€8.8m
FY2016FY2025
Free cash flow
−€2.0m
FY2016FY2025
Shareholders' equity
€44.3m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €94.3m | €111.3m | €121.8m | €117.6m | €97.8m | €86.4m | €100.1m | €94.5m | €86.3m | €80.3m |
| Research and development | €1.2m | — | €1.4m | €1,295 | €963,000 | €735,000 | €551,000 | €468,000 | €554,000 | €686,000 |
| Operating income | −€5.6m | −€305,000 | €26.6m | €5.8m | €7.5m | −€1.4m | €6.5m | €8.4m | €6.2m | €5.0m |
| Net income | −€8.8m | −€1.4m | €5.3m | €4.2m | €4.3m | −€2.5m | €3.7m | €5.9m | €2.4m | €3.9m |
| Diluted earnings per share | -5.88 | -0.93 | 3.51 | 2.81 | 2.88 | -1.66 | 2.47 | 3.90 | 1.57 | 2.61 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €116.6m | €124.6m | €135.2m | €130.4m | €113.8m | €106.3m | €105.2m | €106.8m | €98.3m | €85.1m |
| Cash and short-term investments | €7.5m | €9.0m | €22.0m | €22.4m | €13.3m | €16.9m | €4.6m | €25.5m | €19.6m | €3.5m |
| Total liabilities | €72.3m | €70.7m | €77.0m | €75.3m | €62.9m | €59.0m | €55.0m | €58.4m | €54.4m | €42.0m |
| Debt | €50.4m | €48.5m | €48.8m | €50.0m | €41.9m | €40.2m | €40.0m | €4.2m | €1.4m | €27.7m |
| Shareholders' equity | €44.3m | €53.9m | €58.2m | €55.1m | €50.9m | €47.3m | €50.2m | €48.3m | €44.0m | €43.1m |
| Shares outstanding | 2m | 1m | 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 | €2.7m | €4.2m | €13.4m | €5.2m | €2.4m | €21.2m | €4.4m | €13.0m | €10.1m | €5.9m |
| Capital spending | −€4.7m | −€9.8m | −€7.0m | −€3.8m | −€6.3m | −€7.1m | −€6.4m | −€5.5m | −€5.8m | −€5.6m |
| Free cash flow | −€2.0m | −€5.6m | €6.4m | €1.4m | −€3.8m | €14.1m | −€2.0m | €7.5m | €4.4m | €276,000 |
| Dividends paid | — | −€1.5m | −€1.9m | −€495,000 | −€495,000 | — | −€1.5m | −€1.1m | −€1.1m | −€750,000 |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €49.5m | €47.7m | €46.5m | €56.1m | €56.6m | €61.3m | €61.2m | €62.2m |
| Operating income | €657,000 | −€3.3m | €6.6m | €4.7m | €10.0m | €3.3m | €5.9m | €3.3m |
| Net income | −€196,000 | −€3.8m | −€5.0m | −€126,000 | −€1.3m | €1.1m | €4.1m | €1.4m |
| Diluted earnings per share | -0.13 | -2.54 | -3.34 | -0.08 | -0.85 | 0.76 | 2.74 | 0.95 |
| Cash from operations | −€1.0m | €5.0m | −€1.0m | €7.0m | −€3.0m | €9.0m | €3.0m | €6.0m |
| Capital spending | −€2.0m | −€2.0m | −€1.0m | −€7.0m | −€1.0m | −€4.0m | −€2.0m | −€1.0m |
| Free cash flow | −€3.0m | €3.0m | −€2.0m | €0 | −€4.0m | €5.0m | €1.0m | €5.0m |
| Total assets | €122.2m | €116.6m | €121.9m | €124.6m | €130.2m | €135.2m | €132.4m | €130.4m |
| Cash and short-term investments | €6.7m | €7.5m | €5.7m | €9.0m | €11.1m | €22.0m | €18.7m | €22.4m |
| Debt | €4.7m | €49.4m | €2.2m | €46.9m | €46.6m | €46.8m | €47.0m | €49.3m |
| Shareholders' equity | €44.1m | €44.3m | €49.3m | €53.9m | €55.2m | €58.2m | €57.5m | €55.1m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -7.1% | 1.8% | 1.4% |
| Operating income | — | 32.4% | — |
| Net income | — | 28.9% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -2.9% | 6.0% | 5.2% | 6.0% |
| Net margin | -5.0% | -0.2% | 0.2% | 2.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -3.7 | -26.8 | 7.8 | 9.3 | 10.4 | -13.9 | 11.3 | 6.2 | 11.2 | 6.9 |
| Price to sales | 0.3 | 0.3 | 0.3 | 0.3 | 0.5 | 0.4 | 0.4 | 0.4 | 0.3 | 0.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 17 May 2024.
| FY2024 | FY2023 | FY2022 | FY2021 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 1.00 | 1.30 | 0.33 | 0.33 | 1.00 | 0.75 | 0.50 | 0.50 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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