R 
19.90
+0.25%
Close of 6 Nov 2026, in PLN
At a glance
Figures in PLN, from our data supplier.
Revenue
PLN 177.0m
FY2016FY2025
Net income
−PLN 10.8m
FY2016FY2025
Free cash flow
−PLN 5.7m
FY2016FY2025
Shareholders' equity
PLN 64.4m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 177.0m | PLN 237.4m | PLN 209.8m | PLN 185.2m | PLN 223.2m | PLN 296.7m | PLN 374.0m | PLN 252.8m | PLN 170.1m | PLN 144.3m |
| Gross profit | PLN 19.1m | PLN 26.3m | PLN 27.4m | PLN 29.5m | PLN 25.8m | PLN 26.6m | PLN 26.5m | PLN 28.9m | PLN 24.0m | PLN 23.5m |
| Operating income | −PLN 9.5m | PLN 5.3m | PLN 6.2m | PLN 4.7m | PLN 11.1m | PLN 21.4m | PLN 12.7m | PLN 13.7m | PLN 10.8m | PLN 8.8m |
| Net income | −PLN 10.8m | PLN 5.0m | PLN 5.4m | PLN 2.4m | PLN 9.5m | PLN 16.2m | PLN 10.7m | PLN 10.5m | PLN 7.7m | PLN 6.1m |
| Diluted earnings per share | -3.59 | 1.66 | 1.80 | 0.80 | 3.15 | 5.41 | 3.55 | 3.51 | 2.56 | 2.04 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | PLN 177.3m | PLN 173.7m | PLN 181.1m | PLN 149.2m | PLN 165.5m | PLN 250.0m | PLN 202.9m | PLN 192.0m | PLN 100.2m | PLN 91.7m |
| Cash and short-term investments | PLN 25.3m | PLN 12.0m | PLN 27.1m | PLN 32.3m | PLN 44.6m | PLN 64.4m | PLN 23.2m | PLN 2.2m | PLN 3.2m | PLN 5.6m |
| Total liabilities | PLN 113.0m | PLN 97.7m | PLN 109.2m | PLN 82.7m | PLN 101.3m | PLN 195.3m | PLN 164.7m | PLN 164.2m | PLN 82.9m | PLN 82.1m |
| Debt | PLN 37.0m | PLN 11.7m | PLN 2.9m | PLN 1.4m | PLN 1.2m | PLN 378,000 | PLN 948,000 | PLN 7.9m | PLN 455,000 | PLN 2.3m |
| Shareholders' equity | PLN 64.4m | PLN 76.0m | PLN 72.0m | PLN 66.6m | PLN 64.1m | PLN 54.7m | PLN 38.2m | PLN 27.8m | PLN 17.3m | PLN 9.6m |
| Shares outstanding | 3m | 3m | 3m | 3m | 3m | 3m | 3m | 3m | 3m | 3m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −PLN 4.5m | −PLN 15.6m | PLN 16.1m | −PLN 9.6m | −PLN 15.0m | PLN 31.4m | PLN 30.6m | −PLN 5.1m | −PLN 862,000 | PLN 9.9m |
| Capital spending | −PLN 1.2m | −PLN 5.6m | −PLN 19.4m | −PLN 1.5m | −PLN 3.1m | −PLN 668,000 | −PLN 2.5m | −PLN 1.5m | −PLN 1.2m | −PLN 2.7m |
| Free cash flow | −PLN 5.7m | −PLN 21.2m | −PLN 3.2m | −PLN 11.1m | −PLN 18.1m | PLN 30.7m | PLN 28.1m | −PLN 6.7m | −PLN 2.0m | PLN 7.2m |
| Dividends paid | −PLN 900,000 | −PLN 900,000 | — | — | — | — | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | PLN 39.4m | PLN 15.6m | PLN 50.6m | PLN 41.4m | PLN 44.8m | PLN 40.2m | PLN 71.9m | PLN 58.6m |
| Gross profit | PLN 2.2m | −PLN 8.6m | PLN 1.9m | PLN 2.2m | PLN 8.2m | PLN 6.7m | PLN 10.9m | PLN 3.4m |
| Operating income | −PLN 3.0m | −PLN 11.3m | −PLN 3.6m | −PLN 3.1m | PLN 602,000 | PLN 709,000 | PLN 6.0m | −PLN 215,000 |
| Net income | −PLN 3.1m | −PLN 8.5m | −PLN 7.5m | −PLN 4.0m | PLN 575,000 | PLN 113,000 | PLN 4.5m | −PLN 705,000 |
| Diluted earnings per share | -1.04 | -2.85 | -2.49 | -1.32 | 0.19 | 0.04 | 1.49 | -0.24 |
| Cash from operations | PLN 15.0m | −PLN 7.0m | PLN 5.0m | PLN 3.0m | −PLN 7.0m | −PLN 3.0m | PLN 7.0m | −PLN 6.0m |
| Total assets | PLN 129.2m | PLN 143.2m | PLN 177.3m | PLN 166.2m | PLN 170.1m | PLN 170.3m | PLN 173.7m | PLN 176.1m |
| Cash and short-term investments | PLN 10.6m | PLN 19.2m | PLN 25.3m | PLN 17.4m | PLN 13.5m | PLN 20.4m | PLN 12.0m | PLN 13.4m |
| Debt | — | — | — | — | — | — | PLN 8.9m | PLN 10.4m |
| Shareholders' equity | PLN 52.7m | PLN 55.8m | PLN 64.4m | PLN 71.9m | PLN 75.8m | PLN 76.2m | PLN 76.0m | PLN 71.6m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -1.5% | -9.8% | 3.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 11.0% | 12.6% | 11.6% | 11.6% |
| Operating margin | -1.0% | 0.8% | 2.9% | 3.9% |
| Net margin | -1.4% | 0.3% | 2.1% | 2.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -3.0 | 7.1 | 7.9 | 15.8 | 4.8 | 1.9 | 2.6 | 2.4 | 4.4 | 6.9 |
| Price to sales | 0.2 | 0.1 | 0.2 | 0.2 | 0.2 | 0.1 | 0.1 | 0.1 | 0.2 | 0.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 2 years. Last went ex-dividend on 5 May 2025.
| FY2025 | FY2024 | FY2010 | FY2009 | |
|---|---|---|---|---|
| Paid in the year | 0.30 | 1.00 | 1.60 | 0.85 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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