P24
FY 2025 report
Revenue
488,779 PLN
— YoY
Net income
163,157 PLN
— YoY
EBITDA
101,731 PLN
— YoY
Net debt / EBITDA
-0.64x
— YoY
Summary
Investment thesis
- 86% sumy aktywów to pożyczka dla większościowego akcjonariusza BetInv AG i należności od niemieckiego podmiotu RBH Birke UG
- Zysk netto wygląda stabilnie, ale jest podparty stałymi przychodami finansowymi (odsetki od pożyczki dla akcjonariusza), nie wynikiem operacyjnym
- Audytor wydał opinię z zastrzeżeniem drugi rok z rzędu z powodu niewystarczająco zabezpieczonej pożyczki dla akcjonariusza
- Spółka nie ma długu bankowego, ale ta sama struktura aktywów (koncentracja na jednym dłużniku-akcjonariuszu) jest głównym ryzykiem
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Financials
BETA
P24 · FY 2025
| Metric | FY 2025 | FY 2024 | Δ YoY | Value type | Segment | Conf. |
|---|---|---|---|---|---|---|
| Revenue | 488,779 | — | — | reported | — | 1.00 |
| EBITDA | 101,731 | — | — | reported | — | 1.00 |
| EBIT | 96,464 | — | — | reported | — | 1.00 |
| EBT | 169,907 | — | — | reported | — | 1.00 |
| Net income | 163,157 | — | — | reported | — | 1.00 |
| EPS (basic) | 0 | — | — | derived | — | 0.70 |
| D&A | 5,268 | — | — | reported | — | 1.00 |
| Shares (basic) (units) | 60,000,000 | — | — | reported | — | 0.70 |
| EBITDA margin | 20.81% | — | — | reported | — | 1.00 |
| EBIT margin | 19.74% | — | — | reported | — | 1.00 |
| EBT margin | 34.76% | — | — | reported | — | 1.00 |
| Net margin | 33.38% | — | — | reported | — | 1.00 |
| Cash | 64,921 | — | — | reported | — | 1.00 |
| Total debt | 0 | — | — | reported | — | 1.00 |
| Net debt | -64,921 | — | — | reported | — | 1.00 |
| Equity | 3,619,416 | — | — | reported | — | 1.00 |
| Total assets | 3,761,427 | — | — | reported | — | 1.00 |
| Working capital | 1,680,635 | — | — | reported | — | 1.00 |
| Current assets | 1,789,146 | — | — | reported | — | 1.00 |
| Current liabilities | 108,511 | — | — | reported | — | 1.00 |
| CFO | 5,059 | — | — | reported | — | 1.00 |
| CapEx | 0 | — | — | reported | — | 1.00 |
| FCF | 5,059 | — | — | reported | — | 1.00 |
| Net debt / EBITDA | -0.64x | — | — | reported | — | 0.70 |
| Revenue growth (YoY) | -47.27% | — | — | reported | — | 1.00 |
| EBIT growth (YoY) | -5.3% | — | — | reported | — | 1.00 |
| Net income growth (YoY) | -4.09% | — | — | reported | — | 1.00 |
FY 2025 · Δ YoY
Revenue
488,779
—
488,779
—
- FY 2024
- —
EBITDA
101,731
—
101,731
—
- FY 2024
- —
EBIT
96,464
—
96,464
—
- FY 2024
- —
EBT
169,907
—
169,907
—
- FY 2024
- —
Net income
163,157
—
163,157
—
- FY 2024
- —
EPS (basic)
0
—
0
—
- FY 2024
- —
D&A
5,268
—
5,268
—
- FY 2024
- —
Shares (basic)
(units)
60,000,000
—
60,000,000
—
- FY 2024
- —
EBITDA margin
20.81%
—
20.81%
—
- FY 2024
- —
EBIT margin
19.74%
—
19.74%
—
- FY 2024
- —
EBT margin
34.76%
—
34.76%
—
- FY 2024
- —
Net margin
33.38%
—
33.38%
—
- FY 2024
- —
Cash
64,921
—
64,921
—
- FY 2024
- —
Total debt
0
—
0
—
- FY 2024
- —
Net debt
-64,921
—
-64,921
—
- FY 2024
- —
Equity
3,619,416
—
3,619,416
—
- FY 2024
- —
Total assets
3,761,427
—
3,761,427
—
- FY 2024
- —
Working capital
1,680,635
—
1,680,635
—
- FY 2024
- —
Current assets
1,789,146
—
1,789,146
—
- FY 2024
- —
Current liabilities
108,511
—
108,511
—
- FY 2024
- —
CFO
5,059
—
5,059
—
- FY 2024
- —
CapEx
0
—
0
—
- FY 2024
- —
FCF
5,059
—
5,059
—
- FY 2024
- —
Net debt / EBITDA
-0.64x
—
-0.64x
—
- FY 2024
- —
Revenue growth (YoY)
-47.27%
—
-47.27%
—
- FY 2024
- —
EBIT growth (YoY)
-5.3%
—
-5.3%
—
- FY 2024
- —
Net income growth (YoY)
-4.09%
—
-4.09%
—
- FY 2024
- —