W 
3.45p
-10.39%
Close of 9 Nov 2026, in pence
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in EUR, from our data supplier.
Revenue
€4.6m
FY2015FY2024
Net income
−€906,190
FY2015FY2024
Free cash flow
−€4.0m
FY2015FY2024
Shareholders' equity
€11.0m
FY2015FY2024
Income statement
Fiscal years
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | €4.6m | €4.8m | €1.9m | €551,535 | €1.3m | €1.2m | €3.5m | €2.2m | €1.2m | €945,905 |
| Research and development | — | — | €808,243 | €582,921 | €776,278 | €755,910 | €655,993 | €707,044 | €624,590 | €856,480 |
| Operating income | −€1.1m | −€111,058 | −€1.1m | −€1.4m | −€1.4m | −€3.1m | −€604,301 | −€2.0m | −€3.2m | −€3.6m |
| Net income | −€906,190 | −€182,520 | −€1.1m | −€1.1m | −€1.3m | −€3.1m | −€792,972 | −€2.2m | −€3.1m | −€3.8m |
| Diluted earnings per share | -0.01 | -0.00 | -0.02 | -0.02 | -0.03 | -0.07 | -0.02 | -0.05 | -0.08 | -0.10 |
Balance sheet
At each fiscal year end
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | €15.6m | €3.6m | €4.3m | €3.4m | €3.4m | €3.5m | €5.1m | €3.8m | €4.1m | €4.0m |
| Cash and short-term investments | €7.1m | €152,180 | €1.4m | €40,548 | €626,361 | €763,024 | €1.7m | €1.1m | €783,166 | €593,907 |
| Total liabilities | €4.7m | €3.3m | €3.9m | €4.2m | €3.0m | €2.7m | €2.4m | €2.6m | €2.2m | €1.3m |
| Debt | €1.4m | €1.9m | €1.8m | €1.7m | €1.7m | €1.3m | €1.2m | €1.1m | €1.2m | €831,008 |
| Shareholders' equity | €11.0m | €264,923 | €341,118 | −€757,375 | €441,377 | €854,248 | €2.7m | €1.2m | €1.8m | €2.7m |
| Shares outstanding | 77m | 81m | 57m | 55m | 50m | 47m | 44m | 42m | 39m | 38m |
Cash flow
Fiscal years
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −€3.1m | −€380,182 | −€363,535 | −€394,101 | −€1.0m | −€1.7m | −€861,223 | −€413,665 | −€1.5m | −€4.8m |
| Capital spending | −€850,515 | −€748,232 | −€107,456 | −€652,264 | −€4,449 | −€3,427 | −€68,125 | −€44,312 | −€35,635 | −€175,179 |
| Free cash flow | −€4.0m | −€1.1m | −€470,991 | −€1.0m | −€1.0m | −€1.8m | −€929,348 | −€457,977 | −€1.6m | −€5.0m |
Latest quarters
By quarter end
| Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | Sept 2022 | Jun 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | €2.7m | €2.3m | €2.3m | €3.4m | €1.3m | €1.4m | €716,000 | €420,555 |
| Operating income | −€489,955 | −€850,326 | −€234,278 | €289,173 | −€400,231 | −€138,025 | −€122,000 | −€836,711 |
| Net income | −€729,329 | −€609,368 | −€296,822 | €187,551 | −€370,071 | −€320,351 | −€160,000 | −€755,320 |
| Diluted earnings per share | -0.01 | -0.01 | -0.00 | 0.00 | -0.00 | -0.01 | -0.00 | -0.01 |
| Cash from operations | — | −€1.0m | −€1.0m | — | — | — | — | — |
| Total assets | €13.1m | €15.6m | €7.4m | €3.6m | €3.8m | €4.3m | €4.3m | €2.9m |
| Cash and short-term investments | €6.0m | €7.1m | €2.8m | €152,180 | €284,830 | €1.4m | €1.4m | €109,533 |
| Debt | €1.2m | €1.4m | €1.7m | €1.8m | €357,821 | €157,114 | €1.7m | €534,520 |
| Shareholders' equity | €10.3m | €11.0m | €4.9m | €264,923 | €61,287 | €341,118 | €341,000 | −€1.5m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 102.2% | 31.1% | 15.9% |
| Operating income | -8.2% | -18.9% | -5.2% |
| Net income | -7.1% | -21.7% | -10.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -12.8% | -31.2% | -57.7% | -83.9% |
| Net margin | -11.7% | -28.1% | -54.1% | -87.6% |
Valuation history
At each fiscal year end
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -13.3 | -55.5 | -2.9 | -1.2 | -0.7 | -0.7 | -6.9 | -2.6 | -1.4 | -1.3 |
| Price to sales | 2.6 | 2.1 | 1.7 | 2.5 | 0.7 | 1.7 | 1.6 | 2.6 | 3.8 | 5.2 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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