FY 2025 report
Mała spółka deweloperska z Sanoka (budownictwo jednorodzinne) o skali przychodów 3,6 mln zł — wynik operacyjny ujemny (-417 tys. zł), a symboliczny zysk netto 110 tys. zł pochodzi wyłącznie z przychodów finansowych (533 tys. zł).
Sentiment
Neutral
No guidance change
PBF
FY 2025 report
Revenue
3.56 m PLN
— YoY
Net income
110 k PLN
— YoY
EBITDA
-417 k PLN
— YoY
Gross margin
20.94%
— YoY
Summary
Investment thesis
- Bilans bez długu odsetkowego, wskaźnik bieżącej płynności 6,5x, ale z 1 939 tys. zł gotówki aż 1 700 tys. zł ma ograniczoną możliwość dysponowania.
- Jakość zysku niska: przepływy operacyjne -941 tys. zł przy zysku +110 tys. zł; należności handlowe wzrosły z 33 do 785 tys. zł.
- Strata zatrzymana (-22,8 mln zł) przewyższa sumę kapitałów zapasowego i rezerwowych oraz 1/3 kapitału zakładowego (art. 397 KSH) — spółka sama to ujawnia w nocie o kontynuacji działalności.
- Biegły zwraca uwagę na niepewność należności 934 tys. zł od Banku Nowego (wyrok I instancji z 7.11.2025 korzystny, apelacja złożona) — rozstrzygnięcie to główny katalizator jednorazowy.
Read the full analysis
Financial data is open to everyone. The full analysis — management verdict, commentary, risks, and the full narrative — is available after you sign up or log in.
Financials
BETA
PBF · FY 2025
| Metric | FY 2025 | FY 2024 | Δ YoY | Value type | Segment | Conf. |
|---|---|---|---|---|---|---|
| Revenue | 3,558 | — | — | reported | — | 1.00 |
| Gross profit | 745 | — | — | reported | — | 1.00 |
| EBITDA | -417 | — | — | reported | — | 0.90 |
| EBIT | -417 | — | — | reported | — | 1.00 |
| EBT | 116 | — | — | reported | — | 1.00 |
| Net income | 110 | — | — | reported | — | 1.00 |
| EPS (basic) (PLN) | 0.01 | — | — | reported | — | 1.00 |
| Income tax | 6 | — | — | reported | — | 1.00 |
| Shares (basic) (m units) | 10.45 | — | — | reported | — | 1.00 |
| Gross margin | 20.94% | — | — | derived | — | 0.70 |
| EBITDA margin | -11.72% | — | — | derived | — | 0.70 |
| EBIT margin | -11.72% | — | — | derived | — | 0.70 |
| Net margin | 3.09% | — | — | derived | — | 0.70 |
| Cash | 1,939 | — | — | reported | — | 1.00 |
| Total debt | 0 | — | — | reported | — | 0.90 |
| Net debt | -1,939 | — | — | reported | — | 0.80 |
| Equity | 8,914 | — | — | reported | — | 1.00 |
| Total assets | 10,234 | — | — | reported | — | 1.00 |
| Working capital (PLN) | 7,191 | — | — | derived | — | 0.70 |
| Current assets | 8,496 | — | — | reported | — | 1.00 |
| Current liabilities | 1,305 | — | — | reported | — | 1.00 |
| Non-current liabilities | 15 | — | — | reported | — | 1.00 |
| Inventory | 4,032 | — | — | reported | — | 1.00 |
| Trade receivables | 785 | — | — | reported | — | 1.00 |
| Trade payables | 41 | — | — | reported | — | 1.00 |
| Tangible equity (PLN) | 8,914 | — | — | derived | — | 0.70 |
| CFO | -941 | — | — | reported | — | 1.00 |
| CapEx | 0 | — | — | reported | — | 0.90 |
| FCF (PLN) | -941 | — | — | derived | — | 0.70 |
| ROE | 1.24% | — | — | derived | — | 0.70 |
| ROA | 1.04% | — | — | derived | — | 0.70 |
| ROCE | -4.67% | — | — | derived | — | 0.70 |
| Current ratio | 6.51x | — | — | derived | — | 0.70 |
| Quick ratio | 3.42x | — | — | derived | — | 0.70 |
| Cash ratio | 1.49x | — | — | derived | — | 0.70 |
| Debt / equity | 0x | — | — | derived | — | 0.70 |
| Debt / assets | 0x | — | — | derived | — | 0.70 |
| Net debt / equity | -0.22x | — | — | derived | — | 0.70 |
| Revenue growth (YoY) | -22.64% | — | — | derived | — | 0.70 |
| EBIT growth (YoY) | -167.31% | — | — | derived | — | 0.70 |
| Net income growth (YoY) | 218.28% | — | — | derived | — | 0.70 |
| Gross margin Δ (YoY) | 1.24 pp | — | — | derived | — | 0.70 |
| EBIT margin Δ (YoY) | -8.33 pp | — | — | derived | — | 0.70 |
| Net margin Δ (YoY) | 5.11 pp | — | — | derived | — | 0.70 |
FY 2025 · Δ YoY
Revenue
3,558
—
3,558
—
- FY 2024
- —
Gross profit
745
—
745
—
- FY 2024
- —
EBITDA
-417
—
-417
—
- FY 2024
- —
EBIT
-417
—
-417
—
- FY 2024
- —
EBT
116
—
116
—
- FY 2024
- —
Net income
110
—
110
—
- FY 2024
- —
EPS (basic)
(PLN)
0.01
—
0.01
—
- FY 2024
- —
Income tax
6
—
6
—
- FY 2024
- —
Shares (basic)
(m units)
10.45
—
10.45
—
- FY 2024
- —
Gross margin
20.94%
—
20.94%
—
- FY 2024
- —
EBITDA margin
-11.72%
—
-11.72%
—
- FY 2024
- —
EBIT margin
-11.72%
—
-11.72%
—
- FY 2024
- —
Net margin
3.09%
—
3.09%
—
- FY 2024
- —
Cash
1,939
—
1,939
—
- FY 2024
- —
Total debt
0
—
0
—
- FY 2024
- —
Net debt
-1,939
—
-1,939
—
- FY 2024
- —
Equity
8,914
—
8,914
—
- FY 2024
- —
Total assets
10,234
—
10,234
—
- FY 2024
- —
Working capital
(PLN)
7,191
—
7,191
—
- FY 2024
- —
Current assets
8,496
—
8,496
—
- FY 2024
- —
Current liabilities
1,305
—
1,305
—
- FY 2024
- —
Non-current liabilities
15
—
15
—
- FY 2024
- —
Inventory
4,032
—
4,032
—
- FY 2024
- —
Trade receivables
785
—
785
—
- FY 2024
- —
Trade payables
41
—
41
—
- FY 2024
- —
Tangible equity
(PLN)
8,914
—
8,914
—
- FY 2024
- —
CFO
-941
—
-941
—
- FY 2024
- —
CapEx
0
—
0
—
- FY 2024
- —
FCF
(PLN)
-941
—
-941
—
- FY 2024
- —
ROE
1.24%
—
1.24%
—
- FY 2024
- —
ROA
1.04%
—
1.04%
—
- FY 2024
- —
ROCE
-4.67%
—
-4.67%
—
- FY 2024
- —
Current ratio
6.51x
—
6.51x
—
- FY 2024
- —
Quick ratio
3.42x
—
3.42x
—
- FY 2024
- —
Cash ratio
1.49x
—
1.49x
—
- FY 2024
- —
Debt / equity
0x
—
0x
—
- FY 2024
- —
Debt / assets
0x
—
0x
—
- FY 2024
- —
Net debt / equity
-0.22x
—
-0.22x
—
- FY 2024
- —
Revenue growth (YoY)
-22.64%
—
-22.64%
—
- FY 2024
- —
EBIT growth (YoY)
-167.31%
—
-167.31%
—
- FY 2024
- —
Net income growth (YoY)
218.28%
—
218.28%
—
- FY 2024
- —
Gross margin Δ (YoY)
1.24 pp
—
1.24 pp
—
- FY 2024
- —
EBIT margin Δ (YoY)
-8.33 pp
—
-8.33 pp
—
- FY 2024
- —
Net margin Δ (YoY)
5.11 pp
—
5.11 pp
—
- FY 2024
- —