R 
0.05
—
Close of 4 Nov 2026, in PLN
At a glance
Figures in PLN, from our data supplier.
Revenue
PLN 4.0m
FY2016FY2025
Net income
−PLN 2.9m
FY2016FY2025
Free cash flow
−PLN 518,000
FY2016FY2025
Shareholders' equity
−PLN 21.5m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 4.0m | PLN 21.0m | PLN 67.4m | PLN 94.3m | PLN 96.6m | PLN 130.9m | PLN 367.0m | PLN 602.3m | PLN 626.8m | PLN 633.9m |
| Operating income | −PLN 880,000 | −PLN 6.7m | −PLN 3.2m | −PLN 2.4m | −PLN 5.1m | −PLN 5.3m | −PLN 68.9m | −PLN 53.8m | −PLN 26.5m | PLN 12.5m |
| Net income | −PLN 2.9m | −PLN 17.7m | −PLN 2.3m | PLN 5.7m | −PLN 7.5m | PLN 22.2m | −PLN 52.6m | −PLN 46.4m | −PLN 20.3m | PLN 538,000 |
| Diluted earnings per share | -0.08 | -0.50 | -0.07 | 0.16 | -0.21 | 0.62 | -1.47 | -1.30 | -0.57 | 0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 13.1m | PLN 12.5m | PLN 64.9m | PLN 69.6m | PLN 63.1m | PLN 70.3m | PLN 97.1m | PLN 298.8m | PLN 308.9m | PLN 321.2m |
| Cash and short-term investments | PLN 111,000 | PLN 151,000 | PLN 1.0m | PLN 8.5m | PLN 1.1m | PLN 3.5m | PLN 4.2m | PLN 11.0m | PLN 16.8m | PLN 22.8m |
| Total liabilities | PLN 34.5m | PLN 30.8m | PLN 62.8m | PLN 65.2m | PLN 59.3m | PLN 60.2m | PLN 109.1m | PLN 268.5m | PLN 215.1m | PLN 189.9m |
| Debt | PLN 8.8m | PLN 8.6m | PLN 22.7m | PLN 25.7m | PLN 20.9m | PLN 23.3m | PLN 36.1m | PLN 83.8m | PLN 57.7m | PLN 58.6m |
| Shareholders' equity | −PLN 21.5m | −PLN 18.3m | PLN 2.1m | PLN 4.4m | PLN 3.7m | PLN 10.1m | −PLN 12.0m | PLN 32.5m | PLN 80.6m | PLN 114.1m |
| Shares outstanding | 36m | 36m | 36m | 36m | 36m | 36m | 36m | 36m | 36m | 36m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −PLN 518,000 | PLN 3.8m | −PLN 1.5m | PLN 5.0m | PLN 5.9m | −PLN 596,000 | PLN 30.5m | −PLN 28.4m | −PLN 5.6m | PLN 2.5m |
| Capital spending | — | −PLN 2.5m | −PLN 161,000 | −PLN 1.3m | −PLN 320,000 | −PLN 918,000 | −PLN 4.7m | −PLN 8.2m | −PLN 17.8m | −PLN 5.0m |
| Free cash flow | −PLN 518,000 | PLN 1.3m | −PLN 1.6m | PLN 3.7m | PLN 5.6m | −PLN 1.5m | PLN 25.9m | −PLN 36.6m | −PLN 23.4m | −PLN 2.5m |
| Dividends paid | — | — | — | — | — | — | — | — | — | −PLN 2.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 920,000 | PLN 962,000 | PLN 781,000 | PLN 827,000 | PLN 1.2m | PLN 1.3m | PLN 615,000 | PLN 1.9m |
| Operating income | −PLN 95,000 | −PLN 58,000 | −PLN 238,000 | −PLN 61,000 | −PLN 429,000 | −PLN 223,000 | −PLN 509,000 | −PLN 1.0m |
| Net income | −PLN 1.0m | −PLN 103,000 | −PLN 796,000 | −PLN 1.4m | −PLN 533,000 | −PLN 142,000 | −PLN 1.2m | −PLN 1.0m |
| Diluted earnings per share | -0.03 | -0.00 | -0.02 | -0.04 | -0.01 | -0.00 | -0.03 | -0.03 |
| Cash from operations | — | — | — | — | −PLN 1.0m | PLN 1.0m | — | PLN 3.0m |
| Capital spending | — | — | — | — | −PLN 1.0m | −PLN 1.0m | — | — |
| Free cash flow | — | — | — | — | −PLN 2.0m | PLN 0 | — | — |
| Total assets | PLN 11.8m | PLN 13.0m | PLN 13.1m | PLN 12.3m | PLN 12.6m | PLN 13.1m | PLN 12.5m | PLN 42.4m |
| Cash and short-term investments | PLN 239,000 | PLN 186,000 | PLN 111,000 | PLN 122,000 | PLN 152,000 | PLN 292,000 | PLN 151,000 | PLN 1.4m |
| Debt | PLN 8.9m | PLN 8.9m | PLN 8.8m | PLN 9.1m | PLN 10.4m | PLN 11.9m | PLN 8.6m | PLN 14.9m |
| Shareholders' equity | −PLN 22.6m | −PLN 21.6m | −PLN 21.5m | −PLN 20.7m | −PLN 19.3m | −PLN 18.7m | −PLN 18.3m | −PLN 18.1m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -65.1% | -50.2% | -39.0% |
| Operating income | -28.5% | -30.2% | — |
| Net income | — | — | -14.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -30.3% | -7.1% | -5.7% | -4.9% |
| Net margin | -82.1% | -9.2% | -0.6% | -4.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -0.6 | -0.2 | -5.9 | 1.1 | -1.8 | 0.3 | -0.2 | -0.4 | -1.9 | 166.2 |
| Price to sales | 0.4 | 0.1 | 0.2 | 0.1 | 0.1 | 0.1 | 0.0 | 0.0 | 0.1 | 0.1 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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