V 
0.80
+2.84%
Close of 9 Nov 2026, in EUR
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At a glance
Figures in EUR, from our data supplier.
Revenue
€69.1m
FY2016FY2025
Net income
−€2.8m
FY2016FY2025
Free cash flow
€2.3m
FY2016FY2025
Shareholders' equity
€31.9m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €69.1m | €84.6m | €98.1m | €84.8m | €61.5m | €52.4m | €48.2m | €43.5m | €41.1m | €32.1m |
| Research and development | — | €274,434 | €171,778 | €58,900 | €235,414 | €307,612 | €561,350 | €365,147 | €365,148 | €106,917 |
| Operating income | −€1.3m | −€1.3m | −€2.2m | €234,679 | €4.1m | €6.0m | €2.0m | €4.1m | €4.4m | €4.4m |
| Net income | −€2.8m | −€3.6m | −€2.9m | −€276,950 | €3.5m | €4.4m | €1.4m | €6.3m | €2.7m | €2.2m |
| Diluted earnings per share | -0.17 | -0.21 | -0.17 | -0.02 | 0.29 | 0.35 | 0.11 | 0.55 | 0.24 | 0.20 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €53.2m | €63.0m | €57.0m | €62.0m | €39.1m | €35.0m | €31.2m | €31.0m | €30.3m | €20.0m |
| Cash and short-term investments | €6.0m | €9.2m | €12.2m | €10.3m | €8.7m | €10.2m | €4.2m | €8.1m | €2.4m | €616,000 |
| Total liabilities | €21.5m | €26.9m | €20.8m | €20.4m | €11.7m | €9.6m | €9.1m | €9.4m | €15.8m | €8.2m |
| Debt | €6.4m | €9.6m | €106,118 | €152,024 | €256 | €486,796 | €1.1m | €2.2m | €3.3m | €2.2m |
| Shareholders' equity | €31.9m | €36.1m | €36.1m | €41.3m | €26.6m | €24.7m | €21.3m | €21.1m | €14.2m | €11.4m |
| Shares outstanding | 17m | 17m | 17m | 17m | 12m | 12m | 12m | 12m | 11m | 11m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | €3.0m | €3.0m | €5.3m | €2.5m | €5.5m | €8.1m | €3.8m | €6.7m | €6.3m | €2.5m |
| Capital spending | −€673,000 | −€673,100 | −€1.0m | −€1.1m | −€695,030 | −€217,479 | −€357,311 | −€797,408 | −€828,055 | −€3.1m |
| Free cash flow | €2.3m | €2.3m | €4.2m | €1.3m | €4.8m | €7.8m | €3.5m | €5.9m | €5.4m | −€585,000 |
| Dividends paid | −€1.7m | −€1.7m | −€2.6m | −€2.8m | −€2.3m | −€1.3m | −€3.9m | −€1.6m | −€1.5m | −€1.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €14.8m | €16.4m | €17.7m | €14.4m | €17.6m | €19.4m | €21.5m | €18.4m |
| Operating income | −€359,000 | −€376,000 | €209,000 | −€59,000 | −€1.2m | −€1.4m | −€1.4m | −€211,000 |
| Net income | −€456,000 | −€389,000 | €50,000 | −€517,000 | −€1.7m | −€1.6m | −€942,000 | −€509,000 |
| Diluted earnings per share | -0.03 | -0.02 | 0.00 | -0.03 | -0.10 | -0.10 | -0.06 | -0.03 |
| Cash from operations | — | €3.0m | €1.0m | −€1.0m | — | €2.0m | €1.0m | −€1.0m |
| Total assets | €51.0m | €53.5m | €53.2m | €52.3m | €55.6m | €48.1m | €63.0m | €46.4m |
| Cash and short-term investments | €6.1m | €8.2m | €6.0m | €4.8m | €6.6m | €10.8m | €9.2m | €8.9m |
| Debt | €3.3m | €3.0m | €3.4m | €6.9m | €8.0m | €141,000 | €3.2m | €66,000 |
| Shareholders' equity | €31.1m | €31.4m | €31.9m | €31.8m | €32.3m | €27.8m | €36.1m | €31.8m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -6.6% | 5.7% | 10.2% |
| Net income | 116.1% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -1.7% | -1.4% | 1.2% | 4.0% |
| Net margin | -4.2% | -2.8% | -0.4% | 2.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -7.6 | -8.1 | -19.1 | -252.9 | 27.5 | 20.3 | 43.8 | 9.2 | 28.7 | 29.3 |
| Price to sales | 0.3 | 0.3 | 0.6 | 0.8 | 1.6 | 1.7 | 1.3 | 1.3 | 1.9 | 2.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 9 years. Last went ex-dividend on 27 Mar 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.11 | 0.10 | 0.15 | 0.20 | 0.18 | 0.07 | 0.14 | 0.13 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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