T 
0.30
-2.96%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€50.1m
FY2016FY2025
Net income
−€2.3m
FY2016FY2025
Free cash flow
−€2.1m
FY2016FY2025
Shareholders' equity
€15.9m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €50.1m | €62.1m | €75.5m | €90.6m | €94.7m | €81.4m | €75.6m | €66.3m | €65.3m | €53.5m |
| Research and development | — | €1.3m | €1.2m | €1.2m | €1.3m | €1.1m | €1.1m | €766,000 | €564,000 | €414,000 |
| Operating income | €2.0m | −€9.6m | −€2.5m | €2.5m | €1.8m | €2.3m | €729,000 | €3.2m | €1.9m | €5.5m |
| Net income | −€2.3m | −€11.3m | −€4.3m | €638,000 | €1.8m | €592,000 | €202,000 | €1.8m | €1.1m | €3.7m |
| Diluted earnings per share | -0.08 | -0.40 | -0.16 | 0.02 | 0.06 | 0.02 | 0.01 | 0.06 | 0.05 | 0.13 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €79.9m | €95.1m | €104.5m | €120.0m | €134.3m | €129.2m | €114.3m | €111.5m | €99.0m | €94.6m |
| Cash and short-term investments | €6.1m | €5.3m | €5.5m | €9.4m | €24.5m | €13.4m | €8.9m | €8.5m | €5.5m | €10.9m |
| Total liabilities | €63.3m | €76.0m | €73.9m | €85.1m | €98.2m | €95.1m | €80.5m | €75.3m | €63.3m | €48.4m |
| Debt | €23.9m | €30.6m | €29.4m | €28.6m | €33.6m | €22.0m | €18.2m | €15.9m | €11.5m | €7.3m |
| Shareholders' equity | €15.9m | €18.4m | €29.8m | €34.1m | €35.5m | €33.6m | €33.5m | €35.6m | €35.4m | €46.2m |
| Shares outstanding | 28m | 28m | 28m | 28m | 28m | 28m | 29m | 29m | 21m | 29m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €1.1m | €5.4m | €1.5m | −€2.4m | €15.9m | €10.2m | €9.8m | €12.9m | €7.1m | €18.2m |
| Capital spending | −€3.2m | −€5.3m | −€5.9m | −€6.6m | −€6.5m | −€5.1m | −€9.8m | −€12.1m | −€7.8m | −€23.1m |
| Free cash flow | −€2.1m | €171,000 | −€4.3m | −€9.0m | €9.4m | €5.1m | −€59,000 | €778,000 | −€664,000 | −€5.0m |
| Dividends paid | −€174,000 | −€401,000 | — | −€536,000 | −€536,000 | −€536,000 | −€2.0m | −€988,000 | −€2.1m | −€2.0m |
Latest quarters
By quarter end
| Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Mar 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €23.8m | €26.3m | €30.0m | €32.1m | €36.3m | €39.3m | €19.6m | €43.4m |
| Operating income | €495,000 | €1.5m | −€8.7m | −€960,000 | −€584,000 | −€2.4m | −€401,500 | −€919,000 |
| Net income | −€3.0m | €695,000 | −€9.4m | −€1.8m | −€3.7m | −€655,000 | −€327,500 | −€171,000 |
| Diluted earnings per share | -0.11 | 0.02 | -0.34 | -0.07 | -0.13 | -0.02 | -0.01 | -0.01 |
| Cash from operations | €2.0m | −€1.0m | €3.0m | €2.0m | €4.0m | −€2.0m | −€1.0m | €1.0m |
| Capital spending | −€3.0m | — | — | — | −€3.0m | −€2.0m | — | −€4.0m |
| Free cash flow | −€1.0m | — | — | — | €1.0m | −€4.0m | — | −€3.0m |
| Total assets | €79.9m | €87.3m | €95.1m | €106.8m | €104.5m | €118.7m | €118.7m | €120.0m |
| Cash and short-term investments | €6.1m | €5.7m | €5.3m | €6.9m | €5.5m | €6.2m | €6.1m | €10.2m |
| Debt | €21.6m | €27.6m | €30.6m | €31.5m | €29.5m | €27.9m | €10.2m | €28.6m |
| Shareholders' equity | €15.9m | €19.0m | €18.4m | €27.8m | €29.8m | €33.5m | €33.5m | €34.1m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -18.0% | -9.3% | 4.2% |
| Operating income | -8.3% | -3.5% | -7.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -6.9% | -2.8% | -0.8% | 1.6% |
| Net margin | -12.1% | -6.2% | -3.3% | -0.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -4.3 | -1.5 | -4.9 | 46.4 | 24.2 | 50.8 | 216.6 | 25.7 | 46.0 | 21.3 |
| Price to sales | 0.2 | 0.3 | 0.3 | 0.3 | 0.5 | 0.4 | 0.6 | 0.7 | 0.8 | 1.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 27 May 2019.
| FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|
| Paid in the year | 0.07 | 0.035 | 0.075 | 0.128 | 0.125 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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