S 
2.25
+4.65%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€84.9m
FY2016FY2025
Net income
−€5.1m
FY2016FY2025
Free cash flow
€2.8m
FY2016FY2025
Shareholders' equity
€48.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €84.9m | €95.1m | €112.6m | €98.3m | €84.7m | €77.6m | €91.1m | €83.9m | €78.7m | €80.4m |
| Research and development | €16.7m | €1.7m | €14.8m | €12.4m | €391,000 | €475,000 | €562,000 | €356,000 | €1.4m | €1.3m |
| Operating income | −€6.0m | €497,000 | −€2.8m | −€2.1m | €14,000 | −€5.8m | €4.3m | €4.1m | €2.3m | €7.2m |
| Net income | −€5.1m | −€1.8m | −€5.8m | −€1.4m | −€68,000 | −€4.6m | €2.8m | €3.3m | €742,000 | €5.7m |
| Diluted earnings per share | -0.51 | -0.18 | -0.65 | -0.15 | -0.01 | -0.50 | 0.31 | 0.37 | 0.08 | 0.63 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €97.7m | €114.9m | €103.1m | €111.3m | €103.4m | €105.2m | €116.8m | €99.8m | €80.7m | €82.9m |
| Cash and short-term investments | €6.2m | €9.5m | €5.2m | €6.8m | €9.7m | €10.2m | €14.9m | €9.7m | €10.3m | €10.9m |
| Total liabilities | €49.0m | €58.0m | €48.8m | €49.5m | €39.8m | €42.2m | €47.2m | €31.4m | €28.4m | €35.3m |
| Debt | €18.0m | €24.1m | €20.4m | €19.8m | €14.9m | €19.6m | €19.1m | €8.2m | €8.9m | €9.3m |
| Shareholders' equity | €48.0m | €56.0m | €53.6m | €61.0m | €62.9m | €62.6m | €69.3m | €68.3m | €52.3m | €47.6m |
| Shares outstanding | 10m | 10m | 9m | 9m | 9m | 9m | 9m | 9m | 9m | 9m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €4.4m | €7.0m | €9.1m | €3.6m | €11.1m | €4.9m | €10.4m | €9.4m | €3.6m | €9.5m |
| Capital spending | −€1.5m | −€4.8m | −€1.2m | −€1.0m | −€4.8m | −€5.4m | −€7.4m | −€7.7m | −€5.6m | −€5.6m |
| Free cash flow | €2.8m | €2.3m | €7.9m | €2.6m | €6.2m | −€533,000 | €3.0m | €1.7m | −€2.0m | €3.9m |
| Dividends paid | — | −€1.2m | −€1.2m | −€902,000 | −€361,000 | −€364,000 | −€1.2m | −€995,000 | −€1.4m | −€1.0m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €17.1m | €21.5m | €18.6m | €22.4m | €21.6m | €22.3m | €25.3m | €22.5m |
| Operating income | −€2.0m | −€928,000 | −€2.3m | −€1.5m | −€403,000 | −€1.3m | €2.2m | −€1.3m |
| Net income | −€1.8m | −€1.1m | −€2.2m | −€1.2m | −€604,000 | −€1.1m | €893,000 | −€1.5m |
| Diluted earnings per share | -0.17 | -0.10 | -0.22 | -0.12 | -0.06 | -0.11 | 0.09 | -0.15 |
| Cash from operations | −€2.0m | — | €3.0m | — | €3.0m | −€1.0m | €3.0m | −€1.0m |
| Capital spending | — | — | — | — | −€1.0m | — | −€1.0m | — |
| Free cash flow | — | — | — | — | €2.0m | — | €2.0m | — |
| Total assets | €92.6m | €98.3m | €97.7m | €99.4m | €104.6m | €113.4m | €114.9m | €108.9m |
| Cash and short-term investments | €984,000 | €6.4m | €6.2m | €6.3m | €6.9m | €7.6m | €9.5m | €6.0m |
| Debt | €9.4m | €13.4m | €13.4m | €12.8m | €15.0m | €17.7m | €17.9m | €18.2m |
| Shareholders' equity | €49.4m | €47.9m | €48.0m | €48.3m | €49.6m | €53.3m | €56.0m | €49.6m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -4.8% | 1.8% | 0.3% |
| Operating income | 42.4% | 0.7% | — |
| Net income | 53.9% | 2.2% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -3.0% | -2.6% | -2.9% | 0.8% |
| Net margin | -3.8% | -3.6% | -3.4% | -0.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -5.1 | -16.7 | -8.3 | -34.1 | -901.5 | -10.4 | 25.2 | 17.6 | 119.2 | 20.4 |
| Price to sales | 0.3 | 0.3 | 0.4 | 0.5 | 0.7 | 0.6 | 0.8 | 0.7 | 1.1 | 1.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 9 May 2024.
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.13 | 0.10 | 0.10 | 0.04 | 0.04 | 0.13 | 0.13 | 0.20 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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