H1 2026 report
IDM S.A. to mikroskopijna spółka doradcza (nieruchomości, wierzytelności, doradztwo korporacyjne) w trakcie odbudowy po upadłości z możliwością zawarcia układu z 2014-2019 r.
Sentiment
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IDM
H1 2026 report
Revenue
3,656,006 PLN
— YoY
Net income
924,250 PLN
— YoY
EBITDA
1,964,179 PLN
— YoY
FCF
1,756,602 PLN
— YoY
Summary
Investment thesis
- Przychody w I półroczu 2026 r. wzrosły o 251% r/r do 3,66 mln zł, głównie dzięki jednej dużej prowizji doradczej (~910 tys. zł, 25% przychodu)
- Zysk operacyjny wrócił na plus (1,96 mln zł vs -294 tys. zł rok temu), ale zysk netto (924 tys. zł) został poważnie ograniczony przez niewyjaśnioną stratę na transakcjach FOREX (1,02 mln zł) bez żadnego przychodu równoważącego
- Biegły rewident potwierdza istotną niepewność co do kontynuacji działalności — skumulowane straty z lat ubiegłych nadal przekraczają próg z art. 397 KSH
- Spółka zwiększa niezabezpieczoną ekspozycję pożyczkową wobec Solum S.A. (800 tys. zł łącznie po dniu bilansowym) — podmiotu, z którego kapitałowo wyszła rok wcześniej
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Financials
BETA
IDM · H1 2026
| Metric | H1 2026 | H1 2025 | Δ YoY | YTD 2026 | Δ YoY | Value type | Segment | Conf. |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3,656,006 | — | — | 3,656,006 | — | reported | — | 1.00 |
| EBITDA | 1,964,179 | — | — | 1,964,179 | — | derived | — | 1.00 |
| EBIT | 1,964,179 | — | — | 1,964,179 | — | reported | — | 1.00 |
| EBT | 924,250 | — | — | 924,250 | — | reported | — | 1.00 |
| Net income | 924,250 | — | — | 924,250 | — | reported | — | 1.00 |
| EPS (basic) | 0.02 | — | — | 0.02 | — | reported | — | 1.00 |
| D&A | 0 | — | — | 0 | — | reported | — | 1.00 |
| Interest expense | 67,334 | — | — | 67,334 | — | reported | — | 1.00 |
| Income tax | 0 | — | — | 0 | — | reported | — | 1.00 |
| Shares (basic) (m units) | 45.42 | — | — | — | — | reported | — | 1.00 |
| EBITDA margin | 53.73% | — | — | 53.73% | — | reported | — | 1.00 |
| EBIT margin | 53.73% | — | — | 53.73% | — | reported | — | 1.00 |
| EBT margin | 25.29% | — | — | 25.29% | — | reported | — | 1.00 |
| Net margin | 25.29% | — | — | 25.29% | — | reported | — | 1.00 |
| Cash | 427,170 | — | — | — | — | reported | — | 1.00 |
| Total debt | 665,750 | — | — | — | — | reported | — | 0.80 |
| Net debt | 238,580 | — | — | — | — | reported | — | 0.80 |
| Equity | 927,069 | — | — | — | — | reported | — | 1.00 |
| Total assets | 2,309,134 | — | — | — | — | reported | — | 1.00 |
| Working capital | 1,168,476 | — | — | — | — | reported | — | 1.00 |
| Current assets | 2,309,134 | — | — | — | — | reported | — | 1.00 |
| Current liabilities | 1,140,659 | — | — | — | — | reported | — | 1.00 |
| Non-current liabilities | 241,406 | — | — | — | — | reported | — | 1.00 |
| Inventory | 0 | — | — | — | — | reported | — | 1.00 |
| Trade receivables | 89,846 | — | — | — | — | reported | — | 1.00 |
| Trade payables | 115,299 | — | — | — | — | reported | — | 1.00 |
| Goodwill | 0 | — | — | — | — | reported | — | 1.00 |
| CFO | 1,756,602 | — | — | 1,756,602 | — | reported | — | 1.00 |
| CapEx | 0 | — | — | 0 | — | reported | — | 1.00 |
| FCF | 1,756,602 | — | — | 1,756,602 | — | reported | — | 1.00 |
| Dividends paid | 0 | — | — | 0 | — | reported | — | 1.00 |
| Current ratio | 2.02x | — | — | — | — | reported | — | 1.00 |
| Quick ratio | 2.02x | — | — | — | — | reported | — | 1.00 |
| Cash ratio | 0.37x | — | — | — | — | reported | — | 1.00 |
| Interest coverage | 29.18x | — | — | 29.18x | — | reported | — | 0.90 |
| Debt / equity | 0.72x | — | — | — | — | reported | — | 0.80 |
| Debt / assets | 0.29x | — | — | — | — | reported | — | 0.80 |
| Net debt / equity | 0.26x | — | — | — | — | reported | — | 0.80 |
| Revenue growth (YoY) | 250.68% | — | — | 250.68% | — | reported | — | 1.00 |
| EBITDA growth (YoY) | 767.35% | — | — | 767.35% | — | reported | — | 0.60 |
| EBIT growth (YoY) | 767.35% | — | — | 767.35% | — | reported | — | 0.60 |
| Net income growth (YoY) | 61.53% | — | — | 61.53% | — | reported | — | 1.00 |
| EPS growth (YoY) | 61.53% | — | — | 61.53% | — | reported | — | 0.90 |
| EBITDA margin Δ (YoY) | 81.96 pp | — | — | 81.96 pp | — | reported | — | 1.00 |
| Net margin Δ (YoY) | -29.61 pp | — | — | -29.61 pp | — | reported | — | 1.00 |
H1 2026 · Δ YoY
Revenue
3,656,006
—
3,656,006
—
- H1 2025
- —
- YTD 2026
- 3,656,006
- Δ YoY
- —
EBITDA
1,964,179
—
1,964,179
—
- H1 2025
- —
- YTD 2026
- 1,964,179
- Δ YoY
- —
EBIT
1,964,179
—
1,964,179
—
- H1 2025
- —
- YTD 2026
- 1,964,179
- Δ YoY
- —
EBT
924,250
—
924,250
—
- H1 2025
- —
- YTD 2026
- 924,250
- Δ YoY
- —
Net income
924,250
—
924,250
—
- H1 2025
- —
- YTD 2026
- 924,250
- Δ YoY
- —
EPS (basic)
0.02
—
0.02
—
- H1 2025
- —
- YTD 2026
- 0.02
- Δ YoY
- —
D&A
0
—
0
—
- H1 2025
- —
- YTD 2026
- 0
- Δ YoY
- —
Interest expense
67,334
—
67,334
—
- H1 2025
- —
- YTD 2026
- 67,334
- Δ YoY
- —
Income tax
0
—
0
—
- H1 2025
- —
- YTD 2026
- 0
- Δ YoY
- —
Shares (basic)
(m units)
45.42
—
45.42
—
- H1 2025
- —
- YTD 2026
- —
- Δ YoY
- —
EBITDA margin
53.73%
—
53.73%
—
- H1 2025
- —
- YTD 2026
- 53.73%
- Δ YoY
- —
EBIT margin
53.73%
—
53.73%
—
- H1 2025
- —
- YTD 2026
- 53.73%
- Δ YoY
- —
EBT margin
25.29%
—
25.29%
—
- H1 2025
- —
- YTD 2026
- 25.29%
- Δ YoY
- —
Net margin
25.29%
—
25.29%
—
- H1 2025
- —
- YTD 2026
- 25.29%
- Δ YoY
- —
Cash
427,170
—
427,170
—
- H1 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Total debt
665,750
—
665,750
—
- H1 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Net debt
238,580
—
238,580
—
- H1 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Equity
927,069
—
927,069
—
- H1 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Total assets
2,309,134
—
2,309,134
—
- H1 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Working capital
1,168,476
—
1,168,476
—
- H1 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Current assets
2,309,134
—
2,309,134
—
- H1 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Current liabilities
1,140,659
—
1,140,659
—
- H1 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Non-current liabilities
241,406
—
241,406
—
- H1 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Inventory
0
—
0
—
- H1 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Trade receivables
89,846
—
89,846
—
- H1 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Trade payables
115,299
—
115,299
—
- H1 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Goodwill
0
—
0
—
- H1 2025
- —
- YTD 2026
- —
- Δ YoY
- —
CFO
1,756,602
—
1,756,602
—
- H1 2025
- —
- YTD 2026
- 1,756,602
- Δ YoY
- —
CapEx
0
—
0
—
- H1 2025
- —
- YTD 2026
- 0
- Δ YoY
- —
FCF
1,756,602
—
1,756,602
—
- H1 2025
- —
- YTD 2026
- 1,756,602
- Δ YoY
- —
Dividends paid
0
—
0
—
- H1 2025
- —
- YTD 2026
- 0
- Δ YoY
- —
Current ratio
2.02x
—
2.02x
—
- H1 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Quick ratio
2.02x
—
2.02x
—
- H1 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Cash ratio
0.37x
—
0.37x
—
- H1 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Interest coverage
29.18x
—
29.18x
—
- H1 2025
- —
- YTD 2026
- 29.18x
- Δ YoY
- —
Debt / equity
0.72x
—
0.72x
—
- H1 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Debt / assets
0.29x
—
0.29x
—
- H1 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Net debt / equity
0.26x
—
0.26x
—
- H1 2025
- —
- YTD 2026
- —
- Δ YoY
- —
Revenue growth (YoY)
250.68%
—
250.68%
—
- H1 2025
- —
- YTD 2026
- 250.68%
- Δ YoY
- —
EBITDA growth (YoY)
767.35%
—
767.35%
—
- H1 2025
- —
- YTD 2026
- 767.35%
- Δ YoY
- —
EBIT growth (YoY)
767.35%
—
767.35%
—
- H1 2025
- —
- YTD 2026
- 767.35%
- Δ YoY
- —
Net income growth (YoY)
61.53%
—
61.53%
—
- H1 2025
- —
- YTD 2026
- 61.53%
- Δ YoY
- —
EPS growth (YoY)
61.53%
—
61.53%
—
- H1 2025
- —
- YTD 2026
- 61.53%
- Δ YoY
- —
EBITDA margin Δ (YoY)
81.96 pp
—
81.96 pp
—
- H1 2025
- —
- YTD 2026
- 81.96 pp
- Δ YoY
- —
Net margin Δ (YoY)
-29.61 pp
—
-29.61 pp
—
- H1 2025
- —
- YTD 2026
- -29.61 pp
- Δ YoY
- —