CCE
CLEAN&CARBON ENERGY
Giełda Papierów Wartościowych w Warszawie · Semiannual · publ. September 30, 2026
H1 2026 report
Spółka jest w praktyce skorupą z majątkiem gruntowym: przychody 31 tys. zł w półroczu, strata netto 243 tys. zł, brak działalności operacyjnej poza sprzedażą towarów i wynajmem.
Sentiment
Cautious
No guidance change
CCE
H1 2026 report
Revenue
31 k PLN
— YoY
Net income
-243 k PLN
— YoY
FCF
-98 k PLN
— YoY
CFO
-98 k PLN
— YoY
Summary
Investment thesis
- Wartość księgowa (kapitał własny 2,1 mln zł) opiera się niemal w całości na gruntach w księgach po 9,8 mln zł, których realna wartość i zbywalność są niepewne — to jedyny „bufor”.
- Finansowanie zależy od deklaracji akcjonariusza (BIO-KASZ) o niepodnoszeniu żądania spłaty pożyczek przez 12 miesięcy; bilans wykazuje ok. 7,7 mln zł zobowiązań krótkoterminowych wobec 0 zł gotówki.
- Biegły rewident wydał wniosek z zastrzeżeniem (brak sprawozdania o wynagrodzeniach) i zwrócił uwagę na istotną niepewność co do kontynuacji działalności.
- Sprawozdanie zawiera liczne niespójności (wartość księgowa, noty do zobowiązań, rachunek przepływów), co obniża wiarygodność warsztatu księgowego.
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Financials
BETA
CCE · H1 2026
| Metric | H1 2026 | H1 2025 | Δ YoY | YTD 2026 | Δ YoY | Value type | Segment | Conf. |
|---|---|---|---|---|---|---|---|---|
| Revenue | 31 | 175 | −82.3% | 31 | −82.3% | reported | — | 1.00 |
| EBIT | -216 | -6,535 | +96.7% | -216 | +96.7% | reported | — | 1.00 |
| EBT | -243 | -6,755 | +96.4% | -243 | +96.4% | reported | — | 1.00 |
| Net income | -243 | -6,755 | +96.4% | -243 | +96.4% | reported | — | 1.00 |
| EPS (basic) (PLN) | -0.01 | -0.2 | — | -0.01 | — | reported | — | 1.00 |
| Interest expense | 27 | 220 | −87.7% | 27 | −87.7% | reported | — | 1.00 |
| Shares (basic) (m units) | 34.28 | 34.28 | — | 34.28 | — | reported | — | 1.00 |
| EBIT margin | -696.77% | -3734.29% | +3037.5 pp | -696.77% | +3037.5 pp | derived | — | 0.70 |
| Net margin | -783.87% | -3860% | +3076.1 pp | -783.87% | +3076.1 pp | derived | — | 0.70 |
| Cash | 0 | 5 | −100% | — | — | reported | — | 0.90 |
| Total debt | 3,128 | 3,008 | +4% | — | — | reported | — | 0.70 |
| Net debt | 3,128 | 3,003 | +4.2% | — | — | derived | — | 0.70 |
| Equity | 2,134 | 2,377 | −10.2% | — | — | reported | — | 1.00 |
| Total assets | 9,866 | 10,083 | −2.2% | — | — | reported | — | 1.00 |
| Working capital | -7,634 | -6,658 | −14.7% | — | — | derived | — | 0.70 |
| Current assets | 98 | 315 | −68.9% | — | — | reported | — | 1.00 |
| Current liabilities | 7,732 | 6,973 | +10.9% | — | — | reported | — | 0.85 |
| Trade receivables | 39 | 221 | −82.4% | — | — | reported | — | 1.00 |
| Trade payables | 1,925 | 2,052 | −6.2% | — | — | reported | — | 1.00 |
| CFO | -98 | -1,736 | +94.4% | -98 | +94.4% | reported | — | 0.80 |
| FCF | -98 | -1,736 | +94.4% | -98 | +94.4% | derived | — | 0.70 |
| Current ratio | 0.01x | 0.05x | −0.04x | — | — | derived | — | 0.70 |
| Cash ratio | 0x | 0x | −0x | — | — | derived | — | 0.70 |
| Interest coverage | -8x | -29.7x | +21.7x | -8x | +21.7x | derived | — | 0.70 |
| Debt / equity | 1.47x | 1.27x | +0.2x | — | — | derived | — | 0.70 |
| Debt / assets | 0.32x | 0.3x | +0.02x | — | — | derived | — | 0.70 |
| Net debt / equity | 1.47x | 1260000x | −1259998.53x | — | — | derived | — | 0.70 |
H1 2026 · Δ YoY
Revenue
31
−82.3%
31
−82.3%
- H1 2025
- 175
- YTD 2026
- 31
- Δ YoY
- −82.3%
EBIT
-216
+96.7%
-216
+96.7%
- H1 2025
- -6,535
- YTD 2026
- -216
- Δ YoY
- +96.7%
EBT
-243
+96.4%
-243
+96.4%
- H1 2025
- -6,755
- YTD 2026
- -243
- Δ YoY
- +96.4%
Net income
-243
+96.4%
-243
+96.4%
- H1 2025
- -6,755
- YTD 2026
- -243
- Δ YoY
- +96.4%
EPS (basic)
(PLN)
-0.01
—
-0.01
—
- H1 2025
- -0.2
- YTD 2026
- -0.01
- Δ YoY
- —
Interest expense
27
−87.7%
27
−87.7%
- H1 2025
- 220
- YTD 2026
- 27
- Δ YoY
- −87.7%
Shares (basic)
(m units)
34.28
—
34.28
—
- H1 2025
- 34.28
- YTD 2026
- 34.28
- Δ YoY
- —
EBIT margin
-696.77%
+3037.5 pp
-696.77%
+3037.5 pp
- H1 2025
- -3734.29%
- YTD 2026
- -696.77%
- Δ YoY
- +3037.5 pp
Net margin
-783.87%
+3076.1 pp
-783.87%
+3076.1 pp
- H1 2025
- -3860%
- YTD 2026
- -783.87%
- Δ YoY
- +3076.1 pp
Cash
0
−100%
0
−100%
- H1 2025
- 5
- YTD 2026
- —
- Δ YoY
- —
Total debt
3,128
+4%
3,128
+4%
- H1 2025
- 3,008
- YTD 2026
- —
- Δ YoY
- —
Net debt
3,128
+4.2%
3,128
+4.2%
- H1 2025
- 3,003
- YTD 2026
- —
- Δ YoY
- —
Equity
2,134
−10.2%
2,134
−10.2%
- H1 2025
- 2,377
- YTD 2026
- —
- Δ YoY
- —
Total assets
9,866
−2.2%
9,866
−2.2%
- H1 2025
- 10,083
- YTD 2026
- —
- Δ YoY
- —
Working capital
-7,634
−14.7%
-7,634
−14.7%
- H1 2025
- -6,658
- YTD 2026
- —
- Δ YoY
- —
Current assets
98
−68.9%
98
−68.9%
- H1 2025
- 315
- YTD 2026
- —
- Δ YoY
- —
Current liabilities
7,732
+10.9%
7,732
+10.9%
- H1 2025
- 6,973
- YTD 2026
- —
- Δ YoY
- —
Trade receivables
39
−82.4%
39
−82.4%
- H1 2025
- 221
- YTD 2026
- —
- Δ YoY
- —
Trade payables
1,925
−6.2%
1,925
−6.2%
- H1 2025
- 2,052
- YTD 2026
- —
- Δ YoY
- —
CFO
-98
+94.4%
-98
+94.4%
- H1 2025
- -1,736
- YTD 2026
- -98
- Δ YoY
- +94.4%
FCF
-98
+94.4%
-98
+94.4%
- H1 2025
- -1,736
- YTD 2026
- -98
- Δ YoY
- +94.4%
Current ratio
0.01x
−0.04x
0.01x
−0.04x
- H1 2025
- 0.05x
- YTD 2026
- —
- Δ YoY
- —
Cash ratio
0x
−0x
0x
−0x
- H1 2025
- 0x
- YTD 2026
- —
- Δ YoY
- —
Interest coverage
-8x
+21.7x
-8x
+21.7x
- H1 2025
- -29.7x
- YTD 2026
- -8x
- Δ YoY
- +21.7x
Debt / equity
1.47x
+0.2x
1.47x
+0.2x
- H1 2025
- 1.27x
- YTD 2026
- —
- Δ YoY
- —
Debt / assets
0.32x
+0.02x
0.32x
+0.02x
- H1 2025
- 0.3x
- YTD 2026
- —
- Δ YoY
- —
Net debt / equity
1.47x
−1259998.53x
1.47x
−1259998.53x
- H1 2025
- 1260000x
- YTD 2026
- —
- Δ YoY
- —