ABK ABAK NewConnect · annual · publ. May 28, 2026

FY 2025 report

Rekordowy rok pod względem przychodów (16,45 mln zł) i rentowności na każdym poziomie rachunku wyników — zysk netto 1,01 mln zł, +34% rdr.

Sentiment

No guidance change

Website

ABK FY 2025 report

Revenue

16.45 m PLN

— YoY

Net income

1.01 m PLN

— YoY

EBITDA

1.86 m PLN

— YoY

Net debt / EBITDA

0.51x

— YoY

Summary

Investment thesis

Wzrost napędzany głównie indeksacją cen usług księgowych, nie ekspansją wolumenową — mechanizm powtarzalny, ale o ograniczonym potencjale organicznym.
Wysoka jakość zysku: OCF (1,57 mln zł) przewyższa zysk netto, zerowy capex na środki trwałe, brak zapasów — biznes o niskiej kapitałochłonności.
Bilans obciążony 1,77 mln zł pożyczek udzielonych OLD Sp. z o.o. — większościowemu akcjonariuszowi (76,97%) i jednocześnie Autoryzowanemu Doradcy spółki na NewConnect.
Konsekwentna polityka dywidendowa i redukujące się zadłużenie długoterminowe (-46% rdr) przy pozycji gotówki netto.

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Financials

BETA

FY 2025

ABK · FY 2025

Metric	FY 2025	FY 2024	Δ YoY	Value type	Segment	Conf.

Revenue	16,450.28	—	—	reported	—	0.98
EBITDA	1,857.42	—	—	reported	—	0.95
EBIT	1,659.3	—	—	reported	—	0.98
EBT	1,397.14	—	—	reported	—	0.98
Net income	1,006.91	—	—	reported	—	0.98
EPS (basic) (PLN)	0.37	—	—	derived	—	0.90
D&A	198.12	—	—	reported	—	0.97
Interest expense	136.99	—	—	reported	—	0.95
Income tax	390.23	—	—	reported	—	0.97
Shares (basic) (units)	2,694,760	—	—	reported	—	0.98

EBITDA margin	10.76%	—	—	reported	—	0.95
EBIT margin	8.83%	—	—	reported	—	0.95
EBT margin	14.81%	—	—	reported	—	0.95
Net margin	11.64%	—	—	reported	—	0.95
D&A margin	1.93%	—	—	reported	—	0.95

Cash	1,763.4	—	—	reported	—	0.98
Total debt	1,304.64	—	—	derived	—	0.90
Net debt	-458.76	—	—	derived	—	0.90
Equity	5,016.99	—	—	reported	—	0.98
Total assets	8,453.6	—	—	reported	—	0.98
Working capital	3,011.62	—	—	derived	—	0.90
Current assets	4,510.17	—	—	reported	—	0.97
Current liabilities	1,498.55	—	—	reported	—	0.96
Non-current liabilities	920.23	—	—	reported	—	0.97
Trade receivables	1,861.19	—	—	reported	—	0.95
Trade payables	256.09	—	—	reported	—	0.90
Goodwill	1,166.32	—	—	reported	—	0.97

CFO	1,568.01	—	—	reported	—	0.98
CapEx	0	—	—	reported	—	0.85
FCF	1,568.01	—	—	derived	—	0.85
FCF conversion	81.05%	—	—	reported	—	0.90
CFO conversion	81.46%	—	—	reported	—	0.90
Dividends paid	727.58	—	—	reported	—	0.97

ROE	25.94%	—	—	reported	—	0.90
ROA	16.55%	—	—	reported	—	0.90

Current ratio	2.48x	—	—	reported	—	0.95
Quick ratio	3.01x	—	—	derived	—	0.90
Cash ratio	0.85x	—	—	reported	—	0.95
Interest coverage	8.56x	—	—	reported	—	0.95

Net debt / EBITDA	0.51x	—	—	reported	—	0.85
Debt / equity	0.27x	—	—	reported	—	0.85
Debt / assets	0.18x	—	—	reported	—	0.85
Net debt / equity	0.12x	—	—	reported	—	0.85

Revenue growth (YoY)	8.34%	—	—	reported	—	0.95
EBITDA growth (YoY)	94%	—	—	reported	—	0.90
EBIT growth (YoY)	142.36%	—	—	reported	—	0.95
Net income growth (YoY)	72.1%	—	—	reported	—	0.95
EPS growth (YoY)	33.78%	—	—	reported	—	0.70
FCF growth (YoY)	101.83%	—	—	reported	—	0.90
EBITDA margin Δ (YoY)	4.75 pp	—	—	reported	—	0.90
EBIT margin Δ (YoY)	4.88 pp	—	—	reported	—	0.90
Net margin Δ (YoY)	4.31 pp	—	—	reported	—	0.90

FY 2025 · Δ YoY

Revenue

16,450.28 —

FY 2024: —

EBITDA

1,857.42 —

FY 2024: —

EBIT

1,659.3 —

FY 2024: —

EBT

1,397.14 —

FY 2024: —

Net income

1,006.91 —

FY 2024: —

EPS (basic) (PLN)

0.37 —

FY 2024: —

D&A

198.12 —

FY 2024: —

Interest expense

136.99 —

FY 2024: —

Income tax

390.23 —

FY 2024: —

Shares (basic) (units)

2,694,760 —

FY 2024: —

EBITDA margin

10.76% —

FY 2024: —

EBIT margin

8.83% —

FY 2024: —

EBT margin

14.81% —

FY 2024: —

Net margin

11.64% —

FY 2024: —

D&A margin

1.93% —

FY 2024: —

Cash

1,763.4 —

FY 2024: —

Total debt

1,304.64 —

FY 2024: —

Net debt

-458.76 —

FY 2024: —

Equity

5,016.99 —

FY 2024: —

Total assets

8,453.6 —

FY 2024: —

Working capital

3,011.62 —

FY 2024: —

Current assets

4,510.17 —

FY 2024: —

Current liabilities

1,498.55 —

FY 2024: —

Non-current liabilities

920.23 —

FY 2024: —

Trade receivables

1,861.19 —

FY 2024: —

Trade payables

256.09 —

FY 2024: —

Goodwill

1,166.32 —

FY 2024: —

CFO

1,568.01 —

FY 2024: —

CapEx

0 —

FY 2024: —

FCF

1,568.01 —

FY 2024: —

FCF conversion

81.05% —

FY 2024: —

CFO conversion

81.46% —

FY 2024: —

Dividends paid

727.58 —

FY 2024: —

ROE

25.94% —

FY 2024: —

ROA

16.55% —

FY 2024: —

Current ratio

2.48x —

FY 2024: —

Quick ratio

3.01x —

FY 2024: —

Cash ratio

0.85x —

FY 2024: —

Interest coverage

8.56x —

FY 2024: —

Net debt / EBITDA

0.51x —

FY 2024: —

Debt / equity

0.27x —

FY 2024: —

Debt / assets

0.18x —

FY 2024: —

Net debt / equity

0.12x —

FY 2024: —

Revenue growth (YoY)

8.34% —

FY 2024: —

EBITDA growth (YoY)

94% —

FY 2024: —

EBIT growth (YoY)

142.36% —

FY 2024: —

Net income growth (YoY)

72.1% —

FY 2024: —

EPS growth (YoY)

33.78% —

FY 2024: —

FCF growth (YoY)

101.83% —

FY 2024: —

EBITDA margin Δ (YoY)

4.75 pp —

FY 2024: —

EBIT margin Δ (YoY)

4.88 pp —

FY 2024: —

Net margin Δ (YoY)

4.31 pp —

FY 2024: —