V 
6.52
+5.84%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€81.7m
FY2016FY2025
Net income
−€5.4m
FY2016FY2025
Free cash flow
−€7.1m
FY2016FY2025
Shareholders' equity
€44.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €81.7m | €84.1m | €118.8m | €105.5m | €79.5m | €61.2m | €88.0m | €92.8m | €88.5m | €77.2m |
| Research and development | — | — | €10.4m | €9.8m | €8.5m | €7.8m | €7.6m | €7.5m | €1.5m | — |
| Operating income | −€1.8m | −€13.5m | €6.6m | €8.2m | €4.2m | −€6.4m | €4.0m | €10.9m | €13.8m | €10.5m |
| Net income | −€5.4m | −€9.4m | €3.0m | €5.4m | €2.6m | −€4.4m | €3.1m | €7.8m | €9.1m | €7.1m |
| Diluted earnings per share | -0.61 | -1.06 | 0.34 | 0.61 | 0.29 | -0.49 | 0.35 | 0.87 | 1.01 | 0.80 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €98.1m | €94.6m | €126.0m | €116.0m | €98.7m | €80.6m | €89.0m | €81.8m | €71.3m | €66.6m |
| Cash and short-term investments | €3.9m | €5.5m | €5.5m | €4.4m | €4.5m | €6.8m | €3.9m | €5.7m | €11.5m | €6.5m |
| Total liabilities | €54.1m | €44.0m | €65.8m | €55.7m | €42.1m | €27.4m | €30.5m | €22.5m | €14.6m | €14.3m |
| Debt | €35.8m | €30.8m | €43.1m | €36.7m | €25.5m | €14.9m | €14.6m | €3.4m | −€239,000 | −€38,000 |
| Shareholders' equity | €44.2m | €50.7m | €60.1m | €60.2m | €56.6m | €53.2m | €58.5m | €59.3m | €56.8m | €52.3m |
| Shares outstanding | 9m | 9m | 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 | −€4.1m | €25.1m | €6.2m | −€1.7m | −€3.9m | €10.2m | €7.3m | €1.2m | €12.8m | €95,000 |
| Capital spending | −€3.1m | −€4.1m | −€5.2m | −€4.9m | −€3.4m | −€3.3m | −€3.9m | −€5.2m | −€3.5m | −€2.0m |
| Free cash flow | −€7.1m | €21.0m | €1.0m | −€6.6m | −€7.3m | €6.9m | €3.4m | −€4.0m | €9.2m | −€1.9m |
| Dividends paid | — | −€444,000 | −€2.7m | −€1.8m | −€1.8m | −€444,000 | −€4.0m | −€5.3m | −€4.0m | −€3.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €22.6m | €14.4m | €25.0m | €17.5m | €19.5m | €19.8m | €20.9m | €21.9m |
| Operating income | €1.5m | −€4.0m | €155,000 | −€1.8m | €28,000 | €24,000 | −€5.9m | −€1.1m |
| Net income | €919,000 | −€4.6m | −€3.2m | −€1.6m | −€374,000 | −€266,000 | −€4.4m | −€880,000 |
| Diluted earnings per share | 0.10 | -0.52 | -0.36 | -0.18 | -0.04 | -0.03 | -0.49 | -0.10 |
| Cash from operations | −€2.0m | €2.0m | — | — | — | −€2.0m | €7.0m | €2.0m |
| Capital spending | — | — | — | — | — | — | −€1.0m | — |
| Free cash flow | — | — | — | — | — | — | €6.0m | — |
| Total assets | €90.5m | €85.1m | €98.1m | €93.1m | €93.6m | €95.1m | €94.6m | €101.4m |
| Cash and short-term investments | €3.7m | €4.4m | €3.9m | €4.4m | €4.3m | €3.6m | €5.5m | €4.0m |
| Debt | €28.8m | €26.1m | €35.8m | €34.7m | €34.0m | €32.5m | €30.8m | €27.0m |
| Shareholders' equity | €41.0m | €39.9m | €44.2m | €47.3m | €48.9m | €50.1m | €50.7m | €54.5m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -8.2% | 6.0% | 1.6% |
| Operating income | — | -22.2% | — |
| Net income | — | 4.2% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -9.2% | -0.1% | -0.5% | 4.9% |
| Net margin | -9.0% | -1.7% | -1.6% | 2.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -6.8 | -3.1 | 23.4 | 14.7 | 48.6 | -19.7 | 26.3 | 15.4 | 29.2 | 16.7 |
| Price to sales | 0.5 | 0.3 | 0.6 | 0.8 | 1.6 | 1.4 | 0.9 | 1.3 | 3.0 | 1.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 30 May 2024.
| FY2024 | FY2023 | FY2022 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.05 | 0.30 | 0.20 | 0.05 | 0.45 | 0.60 | 0.45 | 0.40 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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