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Consolidated cash flow statements - EUR (€)
€ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating activities      
Net profit (loss) for the year € 7,716 € 13,406 € 6,695
Non-cash and operational adjustments      
Depreciation of property, plant & equipment 15,274 15,372 15,065
Amortization and impairment of intangible assets 6,431 6,435 6,504
Impairment of goodwill and intangible assets from business combinations     4,228
Share-based payment expense 266 285 39
Loss (gain) on disposal of property, plant & equipment (85) (312) (415)
Gain on bargain purchase   (23)  
Government grants (319) (57)  
Movement in provisions (184) 539 (181)
Movement in reserve for bad debt and slow moving inventory 723 236 499
Financial income (3,957) (7,575) (5,033)
Financial expense 5,612 3,012 3,886
Impact of foreign currencies (136) 29 (94)
Income taxes and deferred taxes (446) 714 73
Working capital adjustment and income tax (paid)/received      
Decrease (increase) in trade receivables and other current assets (2,671) (1,037) (3,335)
Decrease (increase) in inventories and contracts in progress (904) (372) (806)
Increase in trade payables and other payables (5,268) (9) (8,435)
Income tax (paid)/received (1,076) (3,152) (2,737)
Interest received 4,343 3,965 4,206
Net cash flow from operating activities 25,319 31,456 20,157
Investing activities      
Purchase of property, plant & equipment (14,092) (24,649) (9,235)
Purchase of intangible assets (2,169) (1,728) (2,525)
Proceeds from the sale of property, plant, equipment and intangibles 389 458 723
Acquisition of subsidiary (net of cash)   (2,670)  
Proceeds from convertible loan to third party 2,500    
Capital government grants received 3,669    
Net cash flow used in investing activities (9,703) (28,588) (11,037)
Financing activities      
Proceeds from loans & borrowings 35,000    
Repayment of loans & borrowings (11,054) (23,267) (16,723)
Repayment of leases (3,067) (3,122) (3,549)
Interest paid (1,712) (1,337) (1,750)
Other financial income (expense), net (2,145) 81 (346)
Net cash flow from financing activities 17,023 (27,644) (22,368)
Net increase/(decrease) of cash and cash equivalents 32,638 (24,776) (13,248)
Cash and cash equivalents at beginning of the year 102,304 127,573 140,867
Exchange rate differences on cash and cash equivalents (1,024) (492) (46)
Cash and cash equivalents at end of the year € 133,918 € 102,304 € 127,573