BTK BIZTECH KONSULTING NewConnect · Annual · publ. May 30, 2026

FY 2025 report

Spółka IT (outsourcing, integracje bezpieczeństwa, szkolenia, reseller ManageEngine/Kemp/Acunetix/Broadcom) z rekordowym przychodem 20,42 mln zł (+4,5% r/r) w 2025 r.

Sentiment

Neutral No guidance change

Website

BTK FY 2025 report

Revenue

19.55 m PLN

— YoY

Net income

0.04 m PLN

— YoY

FCF

-0.27 m PLN

— YoY

CFO

1.87 m PLN

— YoY

Summary

Investment thesis

Zysk netto wzrósł ponad 3-krotnie r/r (121,2 tys. zł vs 39,7 tys. zł), ale w ujęciu absolutnym pozostaje minimalny (net margin 0,6%) przy przychodach 20+ mln zł
Bilans stabilny — kapitał własny 4,08 mln zł (+0,7% r/r), bez sygnałów zagrożenia kontynuacji działalności; opinia biegłego rewidenta bez zastrzeżeń
OCF ujemny (-272 tys. zł) mimo dodatniego zysku netto — pogorszenie r/r wobec dodatniego OCF +1,87 mln zł w 2024 r., wynikające najpewniej z silnego wzrostu należności (55% sumy bilansowej na koniec 2025 r.)
Wynagrodzenie Zarządu (132 tys. zł) przewyższa całość zysku netto za 2025 r. (121,2 tys. zł) — proporcja warta monitorowania, choć nominalnie niewielka w skali spółki

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Financials

BETA

FY 2025

BTK · FY 2025

Metric	FY 2025	FY 2024	Δ YoY	Value type	Segment	Conf.

Revenue	19.55	—	—	reported	—	1.00
EBIT	0.54	—	—	reported	—	1.00
EBT	0.09	—	—	reported	—	1.00
Net income	0.04	—	—	reported	—	1.00
EPS (basic) (PLN)	0	—	—	derived	—	0.85
D&A	0.31	—	—	reported	—	1.00
Shares (basic) (m units)	25.33	—	—	reported	—	0.90

EBITDA margin	5.45%	—	—	reported	—	0.90
EBIT margin	3.11%	—	—	reported	—	1.00
EBT margin	0.96%	—	—	reported	—	1.00
Net margin	0.59%	—	—	reported	—	1.00
D&A margin	2.34%	—	—	reported	—	1.00

Cash	0.13	—	—	reported	—	1.00
Equity	4.06	—	—	reported	—	1.00
Total assets	9.71	—	—	reported	—	1.00
Working capital	2.29	—	—	derived	—	1.00
Current assets	7.85	—	—	reported	—	1.00
Current liabilities	5.48	—	—	reported	—	1.00

CFO	1.87	—	—	reported	—	1.00
CapEx	0	—	—	derived	—	0.70
FCF	-0.27	—	—	derived	—	0.70

Current ratio	1.39x	—	—	reported	—	1.00
Quick ratio	0.97x	—	—	reported	—	0.60
Cash ratio	0x	—	—	reported	—	1.00

Revenue growth (YoY)	4.45%	—	—	reported	—	1.00
EBITDA growth (YoY)	30.59%	—	—	reported	—	0.90
EBIT growth (YoY)	16.6%	—	—	reported	—	1.00
Net income growth (YoY)	205.33%	—	—	reported	—	1.00
EPS growth (YoY)	205.33%	—	—	reported	—	0.85
EBITDA margin Δ (YoY)	1.09 pp	—	—	reported	—	0.90
EBIT margin Δ (YoY)	0.32 pp	—	—	reported	—	1.00
Net margin Δ (YoY)	0.39 pp	—	—	reported	—	1.00

FY 2025 · Δ YoY

Revenue

19.55 —

FY 2024: —

EBIT

0.54 —

FY 2024: —

EBT

0.09 —

FY 2024: —

Net income

0.04 —

FY 2024: —

EPS (basic) (PLN)

0 —

FY 2024: —

D&A

0.31 —

FY 2024: —

Shares (basic) (m units)

25.33 —

FY 2024: —

EBITDA margin

5.45% —

FY 2024: —

EBIT margin

3.11% —

FY 2024: —

EBT margin

0.96% —

FY 2024: —

Net margin

0.59% —

FY 2024: —

D&A margin

2.34% —

FY 2024: —

Cash

0.13 —

FY 2024: —

Equity

4.06 —

FY 2024: —

Total assets

9.71 —

FY 2024: —

Working capital

2.29 —

FY 2024: —

Current assets

7.85 —

FY 2024: —

Current liabilities

5.48 —

FY 2024: —

CFO

1.87 —

FY 2024: —

CapEx

0 —

FY 2024: —

FCF

-0.27 —

FY 2024: —

Current ratio

1.39x —

FY 2024: —

Quick ratio

0.97x —

FY 2024: —

Cash ratio

0x —

FY 2024: —

Revenue growth (YoY)

4.45% —

FY 2024: —

EBITDA growth (YoY)

30.59% —

FY 2024: —

EBIT growth (YoY)

16.6% —

FY 2024: —

Net income growth (YoY)

205.33% —

FY 2024: —

EPS growth (YoY)

205.33% —

FY 2024: —

EBITDA margin Δ (YoY)

1.09 pp —

FY 2024: —

EBIT margin Δ (YoY)

0.32 pp —

FY 2024: —

Net margin Δ (YoY)

0.39 pp —

FY 2024: —