LUD
FY 2025 report
Revenue
0 PLN
▼
-100% YoY
—
Net income
-989,467 PLN
▲
+98.4% YoY
—
FCF
-251,050 PLN
+0% YoY
—
CFO
-251,050 PLN
▲
+18.5% YoY
—
Summary
Investment thesis
- Ujemne i pogłębiające się kapitały własne (-3,19 mln zł) przy aktywach zaledwie 38,8 tys. zł wobec zobowiązań 3,23 mln zł
- Opinia biegłego rewidenta z zastrzeżeniem oraz istotna niepewność co do kontynuacji działalności (going concern)
- Kluczowa niewyjaśniona strata: sprzedaż 100% udziałów ECAP za 63,69 mln zł w 2023 r. nigdy nie została opłacona, a dłużnik ogłosił upadłość w 2025 r.
- Dalsze istnienie Spółki zależy wyłącznie od pozyskania inwestora strategicznego lub dokapitalizowania przez dominującego akcjonariusza (Porozumienie Lofar AB, 81,06% głosów)
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
LUD · FY 2025
| Metric | FY 2025 | FY 2024 | Δ YoY | Value type | Segment | Conf. |
|---|---|---|---|---|---|---|
| Revenue | 0 | 24,065 | −100% | reported | — | 1.00 |
| EBIT | -885,047 | -64,733,494 | +98.6% | reported | — | 1.00 |
| EBT | -257,833 | — | — | reported | — | 1.00 |
| Net income | -989,467 | -63,468,260 | +98.4% | reported | — | 1.00 |
| Interest expense | 42,433 | — | — | reported | — | 1.00 |
| Cash | 10,478 | 2,045 | +412.3% | reported | — | 1.00 |
| Total debt | 1,793,045 | 200,508 | +794.3% | reported | — | 0.60 |
| Net debt | 1,789,836 | 1,636,209 | +9.4% | derived | — | 0.60 |
| Equity | -2,932,028 | -1,942,561 | −50.9% | reported | — | 1.00 |
| Total assets | 42,120 | 150,242 | −72% | reported | — | 1.00 |
| Working capital | -271,492 | — | — | derived | — | 0.90 |
| Current assets | 38,791 | 144,830 | −73.2% | reported | — | 1.00 |
| Current liabilities | 313,612 | — | — | reported | — | 1.00 |
| CFO | -251,050 | -308,218 | +18.5% | reported | — | 1.00 |
| CapEx | 0 | 0 | — | reported | — | 1.00 |
| FCF | -251,050 | -251,050 | +0% | derived | — | 0.90 |
| Current ratio | 0.13x | — | — | derived | — | 0.90 |
| Cash ratio | 0.01x | — | — | derived | — | 0.90 |
| EBIT growth (YoY) | 78.89% | — | — | derived | — | 0.90 |
| Net income growth (YoY) | 73.94% | 98.44% | — | derived | — | 0.90 |
FY 2025 · Δ YoY
Revenue
0
−100%
0
−100%
- FY 2024
- 24,065
EBIT
-885,047
+98.6%
-885,047
+98.6%
- FY 2024
- -64,733,494
EBT
-257,833
—
-257,833
—
- FY 2024
- —
Net income
-989,467
+98.4%
-989,467
+98.4%
- FY 2024
- -63,468,260
Interest expense
42,433
—
42,433
—
- FY 2024
- —
Cash
10,478
+412.3%
10,478
+412.3%
- FY 2024
- 2,045
Total debt
1,793,045
+794.3%
1,793,045
+794.3%
- FY 2024
- 200,508
Net debt
1,789,836
+9.4%
1,789,836
+9.4%
- FY 2024
- 1,636,209
Equity
-2,932,028
−50.9%
-2,932,028
−50.9%
- FY 2024
- -1,942,561
Total assets
42,120
−72%
42,120
−72%
- FY 2024
- 150,242
Working capital
-271,492
—
-271,492
—
- FY 2024
- —
Current assets
38,791
−73.2%
38,791
−73.2%
- FY 2024
- 144,830
Current liabilities
313,612
—
313,612
—
- FY 2024
- —
CFO
-251,050
+18.5%
-251,050
+18.5%
- FY 2024
- -308,218
CapEx
0
—
0
—
- FY 2024
- 0
FCF
-251,050
+0%
-251,050
+0%
- FY 2024
- -251,050
Current ratio
0.13x
—
0.13x
—
- FY 2024
- —
Cash ratio
0.01x
—
0.01x
—
- FY 2024
- —
EBIT growth (YoY)
78.89%
—
78.89%
—
- FY 2024
- —
Net income growth (YoY)
73.94%
—
73.94%
—
- FY 2024
- 98.44%