Income Statement Tax-Net S.A.

Stocks

TXN

PLTAXNT00011

Business Support Services

End-of-day quote Warsaw S.E. 2026-09-30			5-day change	1st Jan Change
1.610 ^PLN	-.--%		-.--%	-24.77%

08-14	Tax-Net S.A. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2026	CI
05-15	Tax-Net S.A. Reports Earnings Results for the First Quarter Ended March 31, 2026	CI

ebc170acd.qIyP_vL3Si1dR5ax8jqVPscOkMM2EmvSVk8Eh1kBIPM.0tnBjZ2SE0UVKd_jqHn0TIFboZdGIDqRFSld6ihMbLfl9NWPvrB-GhQYxw

Published financial data: TAX-NET S.A.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (PLN)	2022 (PLN)	2023 (PLN)	2024 (PLN)	2025 (PLN)
Revenues	9.76M	10.93M	12.19M	13.57M	14.97M
Total Revenues	9.76M	10.93M	12.19M	13.57M	14.97M
Cost of Goods Sold, Total	6.05M	6.53M	7.47M	8.67M	9.86M
Gross Profit	3.71M	4.39M	4.71M	4.9M	5.11M
Selling General & Admin Expenses, Total	3.13M	3.09M	3.99M	4.49M	4.82M
Depreciation & Amortization - (IS)	274K	147K	60K	48.51K	87.9K
Other Operating Expenses	-141K	204K	243K	106K	66.22K
Other Operating Expenses, Total	3.27M	3.44M	4.29M	4.65M	4.98M
Operating Income	440K	949K	421K	257K	131K
Interest Expense, Total	-24.18K	-23.53K	-3.37K	-53	-18.66K
Interest And Investment Income	4.14K	1.15K	28.29K	34.06K	2.06K
Net Interest Expenses	-20.05K	-22.38K	24.91K	34.01K	-16.59K
Currency Exchange Gains (Loss)	-	-	-	-	-
Other Non Operating Income (Expenses)	-16.18K	-24.62K	-15.44K	-18K	-15.7K
EBT, Excl. Unusual Items	404K	902K	431K	273K	98.76K
Gain (Loss) On Sale Of Investments	-	-	70K	-	-
Gain (Loss) On Sale Of Assets	-59.43K	-24.94K	150K	-	-
Asset Writedown	-1.04M	39.86K	-40.95K	-48.23K	-88.42K
Legal Settlements	-	-	-	-	-
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	-696K	917K	610K	225K	10.33K
Income Tax Expense	-95.26K	193K	155K	65.75K	39.6K
Earnings From Continuing Operations	-601K	723K	455K	159K	-29.28K
Net Income to Company	-601K	723K	455K	159K	-29.28K
Net Income - (IS)	-601K	723K	455K	159K	-29.28K
Net Income to Common Incl Extra Items	-601K	723K	455K	159K	-29.28K
Net Income to Common Excl. Extra Items	-601K	723K	455K	159K	-29.28K
Per Share Items
Net EPS - Basic	-0.26	0.31	0.19	0.07	-0.01
Basic EPS - Continuing Operations	-0.26	0.31	0.19	0.07	-0.01
Basic Weighted Average Shares Outstanding	2.35M	2.35M	2.35M	2.35M	2.35M
Net EPS - Diluted	-0.26	0.31	0.19	0.07	-0.01
Diluted EPS - Continuing Operations	-0.26	0.31	0.19	0.07	-0.01
Diluted Weighted Average Shares Outstanding	2.35M	2.35M	2.35M	2.35M	2.35M
Normalized Basic EPS	0.11	0.24	0.11	0.07	0.03
Normalized Diluted EPS	0.11	0.24	0.11	0.07	0.03
Dividend Per Share	-	0.2	0.62	-	-
Payout Ratio	-	-	103.12	912.75	-
Supplemental Items
EBITDA	842K	1.24M	644K	465K	404K
EBITA	666K	1.17M	612K	446K	330K
EBIT	440K	949K	421K	257K	131K
Total Revenues (As Reported)	9.76M	10.93M	12.19M	13.57M	14.97M
Effective Tax Rate - (Ratio)	13.68	21.1	25.42	29.21	383.4
Total Current Taxes	-	-	-	-	-
Total Deferred Taxes	-	-	-	-	-
Normalized Net Income	253K	564K	269K	171K	61.72K
Interest on Long-Term Debt	-	-	-	-	-
Supplemental Operating Expense Items
Advertising Expense	11.04K	11.83K	12.46K	7K	14.1K
Selling and Marketing Expenses	11.04K	11.83K	12.46K	7K	14.1K
Maintenance & Repair Expenses, Total	-	-	-	-	-

Fiscal Period: December	2021 (PLN)	2022 (PLN)	2023 (PLN)	2024 (PLN)	2025 (PLN)
Assets
Cash And Equivalents	683K	1.06M	2.09M	983K	981K
Short Term Investments	34.51K	-	-	-	-
Total Cash And Short Term Investments	718K	1.06M	2.09M	983K	981K
Accounts Receivable, Total	900K	1.2M	1.25M	1.33M	1.74M
Other Receivables	77.2K	101K	95.38K	128K	119K
Total Receivables	977K	1.3M	1.35M	1.46M	1.86M
Inventory	-	-	-	-	-
Prepaid Expenses	-	-	-	-	-
Restricted Cash	-	-	10.54K	9.13K	22.44K
Other Current Assets, Total	20.98K	106K	110K	130K	128K
Total Current Assets	1.72M	2.46M	3.55M	2.58M	2.99M
Gross Property Plant And Equipment	1.13M	1.09M	1.09M	1.17M	1.32M
Accumulated Depreciation	-866K	-885K	-916K	-919K	-994K
Net Property Plant And Equipment	263K	200K	178K	247K	329K
Long-term Investments	3.5K	3.5K	-	-	-
Goodwill	2.04M	1.84M	1.65M	1.46M	1.27M
Other Intangibles, Total	149K	69.52K	40.75K	11.99K	-
Deferred Tax Assets Long-Term	34.42K	38.59K	40.25K	61.88K	82.59K
Deferred Charges Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	825K	825K	-	-	-
Total Assets	5.03M	5.44M	5.46M	4.37M	4.67M
Liabilities
Accounts Payable, Total	135K	130K	152K	159K	120K
Accrued Expenses, Total	287K	341K	380K	484K	554K
Current Portion of Long-Term Debt	92.74K	-	-	-	-
Current Portion of Leases	-	9.13K	249	27.75K	70.54K
Current Income Taxes Payable	433K	515K	545K	557K	665K
Unearned Revenue Current, Total	8.15K	11.92K	20.65K	48.09K	61.64K
Other Current Liabilities	41.55K	50.7K	20.92K	45.08K	189K
Total Current Liabilities	998K	1.06M	1.12M	1.32M	1.66M
Long-Term Debt	332K	-	-	-	-
Long-Term Leases	-	-	-	-	-
Unearned Revenue Non Current	-	-	-	-	-
Pension & Other Post Retirement Benefits	-	-	-	-	-
Deferred Tax Liability Non Current	210K	180K	156K	152K	149K
Other Non Current Liabilities	9.13K	-	-	-	-
Total Liabilities	1.55M	1.24M	1.27M	1.47M	1.81M
Common Stock, Total	1.17M	1.17M	1.17M	1.17M	1.17M
Additional Paid In Capital	3.09M	3.09M	2.56M	1.56M	1.56M
Retained Earnings	-781K	-57.33K	455K	159K	-29.28K
Comprehensive Income and Other	-	-	-	-	159K
Total Common Equity	3.48M	4.2M	4.19M	2.89M	2.86M
Total Equity	3.48M	4.2M	4.19M	2.89M	2.86M
Total Liabilities And Equity	5.03M	5.44M	5.46M	4.37M	4.67M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	2.35M	2.35M	2.35M	2.35M	2.35M
ECS Total Common Shares Outstanding	2.35M	2.35M	2.35M	2.35M	2.35M
Book Value / Share	1.48	1.79	1.79	1.23	1.22
Tangible Book Value	1.29M	2.29M	2.5M	1.42M	1.59M
Tangible Book Value Per Share	0.55	0.98	1.07	0.61	0.68
Total Debt	425K	9.13K	249	27.75K	70.54K
Net Debt	-293K	-1.05M	-2.09M	-956K	-910K
Account Code - Inventory Valuation	3	3	3	3	3
Inventories - Others	-	-	-	-	-
Buildings, Total	340K	291K	291K	291K	291K
Machinery, Total	579K	584K	589K	673K	828K
Full Time Employees	64.25	55	59	58	58.5
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	-	-	-

Fiscal Period: December	2021 (PLN)	2022 (PLN)	2023 (PLN)	2024 (PLN)	2025 (PLN)
Net Income	-601K	723K	455K	159K	-29.28K
Depreciation & Amortization - CF	175K	61.72K	31.23K	19.22K	74.12K
Amortization of Goodwill and Intangible Assets - (CF)	226K	226K	191K	188K	199K
Depreciation & Amortization, Total	401K	288K	223K	208K	273K
Amortization of Deferred Charges, Total - (CF)	69.94K	56.38K	28.77K	29.29K	1.8K
(Gain) Loss From Sale Of Asset	59.43K	24.94K	-220K	-	-
Other Operating Activities, Total	621K	20.34K	857	-	10.28K
Change In Accounts Receivable	201K	-321K	-49.43K	-115K	-396K
Change In Inventories	-	-	-	-	-
Change in Other Net Operating Assets	-283K	44.71K	40.28K	97.76K	230K
Cash from Operations	469K	836K	478K	379K	90.01K
Capital Expenditure	-160K	-40.54K	-8.72K	-22.63K	-32.34K
Sale of Property, Plant, and Equipment	81	-	-	-	-
Sale (Purchase) of Real Estate properties	120K	-	975K	-	-
Investment in Marketable and Equity Securities, Total	-	-	73.5K	-	-
Other Investing Activities, Total	34.45K	35.17K	-	-	-
Cash from Investing	-5.94K	-5.36K	1.04M	-22.63K	-32.34K
Long-Term Debt Issued, Total	-	-	-	-	-
Total Debt Issued	-	-	-	-	-
Long-Term Debt Repaid, Total	-258K	-433K	-8.88K	-6.9K	-36.88K
Total Debt Repaid	-258K	-433K	-8.88K	-6.9K	-36.88K
Repurchase of Common Stock	-	-	-	-	-
Common Dividends Paid	-	-	-469K	-1.45M	-
Common & Preferred Stock Dividends Paid	-	-	-469K	-1.45M	-
Other Financing Activities, Total	-23.84K	-23.1K	-857	-	-10.28K
Cash from Financing	-282K	-456K	-479K	-1.46M	-47.16K
Net Change in Cash	181K	375K	1.04M	-1.1M	10.51K
Supplemental Items
Cash Interest Paid	23.84K	23.1K	857	-	10.28K
Levered Free Cash Flow	259K	639K	513K	417K	203K
Unlevered Free Cash Flow	274K	654K	515K	417K	215K
Change In Net Working Capital	312K	243K	-8.91K	-41.95K	110K
Net Debt Issued / Repaid	-258K	-433K	-8.88K	-6.9K	-36.88K

Fiscal Period: December	2021 (PLN)	2022 (PLN)	2023 (PLN)	2024 (PLN)	2025 (PLN)
Profitability
Return on Assets	4.75	11.33	4.83	3.27	1.81
Return on Total Capital	6.4	14.58	6.27	4.53	2.8
Return On Equity %	-15.91	18.84	10.85	4.5	-1.02
Return on Common Equity	-15.91	18.84	10.85	4.5	-1.02
Margin Analysis
Gross Profit Margin %	37.98	40.21	38.68	36.13	34.13
SG&A Margin	32.1	28.32	32.74	33.1	32.22
EBITDA Margin %	8.63	11.32	5.28	3.42	2.7
EBITA Margin %	6.83	10.75	5.03	3.28	2.21
EBIT Margin %	4.51	8.68	3.45	1.9	0.88
Income From Continuing Operations Margin %	-6.16	6.62	3.73	1.17	-0.2
Net Income Margin %	-6.16	6.62	3.73	1.17	-0.2
Net Avail. For Common Margin %	-6.16	6.62	3.73	1.17	-0.2
Normalized Net Income Margin	2.59	5.16	2.21	1.26	0.41
Levered Free Cash Flow Margin	2.65	5.85	4.21	3.07	1.36
Unlevered Free Cash Flow Margin	2.81	5.99	4.22	3.07	1.43
Asset Turnover
Asset Turnover	1.68	2.09	2.24	2.76	3.31
Fixed Assets Turnover	28.85	47.16	64.43	63.85	51.95
Receivables Turnover (Average Receivables)	9.78	10.42	9.95	10.49	9.74
Inventory Turnover (Average Inventory)	-	-	-	-	-
Short Term Liquidity
Current Ratio	1.72	2.33	3.18	1.96	1.8
Quick Ratio	1.7	2.23	3.07	1.85	1.71
Operating Cash Flow to Current Liabilities	0.47	0.79	0.43	0.29	0.05
Days Sales Outstanding (Average Receivables)	37.33	35.03	36.68	34.87	37.48
Days Outstanding Inventory (Average Inventory)	-	-	-	-	-
Average Days Payable Outstanding	8.61	7.41	6.88	6.57	5.17
Cash Conversion Cycle (Average Days)	-	-	-	-	-
Long Term Solvency
Total Debt/Equity	12.22	0.22	0.01	0.96	2.46
Total Debt / Total Capital	10.89	0.22	0.01	0.95	2.4
LT Debt/Equity	9.56	-	-	-	-
Long-Term Debt / Total Capital	8.51	-	-	-	-
Total Liabilities / Total Assets	30.82	22.75	23.33	33.75	38.73
EBIT / Interest Expense	18.21	40.33	124.79	4.85K	7.02
EBITDA / Interest Expense	34.81	52.56	190.79	8.77K	21.68
(EBITDA - Capex) / Interest Expense	28.18	50.84	188.2	8.34K	19.94
Total Debt / EBITDA	0.5	0.01	0	0.06	0.17
Net Debt / EBITDA	-0.35	-0.85	-3.24	-2.06	-2.25
Total Debt / (EBITDA - Capex)	0.62	0.01	0	0.06	0.19
Net Debt / (EBITDA - Capex)	-0.43	-0.88	-3.29	-2.16	-2.45
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-1.6	11.96	11.54	11.38	10.25
Gross Profit, 1 Yr. Growth %	-11.79	18.55	7.29	4.04	4.13
EBITDA, 1 Yr. Growth %	-30.34	35.63	-50.22	-30.87	-18.16
EBITA, 1 Yr. Growth %	-34.72	84.27	-46.56	-27.24	-25.21
EBIT, 1 Yr. Growth %	-46.53	115.49	-55.63	-38.9	-49.06
Earnings From Cont. Operations, 1 Yr. Growth %	-220.85	-220.38	-37.12	-64.98	-118.38
Net Income, 1 Yr. Growth %	-220.85	-220.38	-37.12	-64.98	-118.38
Normalized Net Income, 1 Yr. Growth %	-47.32	123.18	-52.27	-36.52	-63.86
Diluted EPS Before Extra, 1 Yr. Growth %	-220.85	-220.38	-37.12	-64.98	-118.38
Accounts Receivable, 1 Yr. Growth %	-17.96	33.08	4.57	6.59	30.29
Inventory, 1 Yr. Growth %	-	-	-	-	-
Net Property, Plant and Equip., 1 Yr. Growth %	-36.4	-23.79	-11.23	38.99	33.02
Total Assets, 1 Yr. Growth %	-23.37	8.18	0.41	-20.06	7.02
Tangible Book Value, 1 Yr. Growth %	-19.22	77.36	8.99	-43.13	11.96
Common Equity, 1 Yr. Growth %	-14.73	20.8	-0.34	-30.93	-1.01
Cash From Operations, 1 Yr. Growth %	-19.07	78.21	-42.89	-20.6	-76.27
Capital Expenditures, 1 Yr. Growth %	-24.82	-74.74	-78.5	159.64	42.91
Levered Free Cash Flow, 1 Yr. Growth %	-62.58	168.79	-19.52	-18.67	-51.33
Unlevered Free Cash Flow, 1 Yr. Growth %	-61.74	158.55	-21.01	-18.99	-48.54
Dividend Per Share, 1 Yr. Growth %	-	-	210	-	-
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	8.39	4.96	11.75	11.46	10.81
Gross Profit, 2 Yr. CAGR %	16.84	2.26	12.78	5.66	4.09
EBITDA, 2 Yr. CAGR %	57.84	1.16	-15.98	-40.04	-22.45
EBITA, 2 Yr. CAGR %	639.65	7.29	-1.99	-37.65	-26.57
EBIT, 2 Yr. CAGR %	501.25	7.35	-2.22	-47.93	-44.21
Earnings From Cont. Operations, 2 Yr. CAGR %	112.73	20.61	-13	-53.07	-74.63
Net Income, 2 Yr. CAGR %	112.73	20.61	-13	-53.07	-74.63
Normalized Net Income, 2 Yr. CAGR %	173.53	8.43	3.21	-44.95	-52.11
Diluted EPS Before Extra, 2 Yr. CAGR %	112.74	20.61	-13	-53.07	-74.63
Accounts Receivable, 2 Yr. CAGR %	-3.21	4.49	17.97	5.57	17.84
Inventory, 2 Yr. CAGR %	-	-	-	-	-
Net Property, Plant and Equip., 2 Yr. CAGR %	-26.6	-30.38	-17.75	11.08	35.97
Total Assets, 2 Yr. CAGR %	-10.07	-8.95	4.22	-10.41	-7.5
Tangible Book Value, 2 Yr. CAGR %	15.75	19.69	39.03	-21.27	-20.21
Common Equity, 2 Yr. CAGR %	-1.46	1.49	9.72	-17.03	-17.31
Cash From Operations, 2 Yr. CAGR %	48.35	20.1	0.89	-32.66	-56.59
Capital Expenditures, 2 Yr. CAGR %	53.13	-56.42	-76.69	-25.28	92.63
Levered Free Cash Flow, 2 Yr. CAGR %	-8.96	-3.83	46.8	-19.09	-37.08
Unlevered Free Cash Flow, 2 Yr. CAGR %	-16.43	-4.4	42.64	-20.01	-35.43
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	8.26	9.56	7.11	11.62	11.05
Gross Profit, 3 Yr. CAGR %	9.91	17.41	3.91	9.79	5.15
EBITDA, 3 Yr. CAGR %	7.21	54.1	-18.94	-20.11	-32.12
EBITA, 3 Yr. CAGR %	21.09	358.61	-15.66	-11.26	-33.95
EBIT, 3 Yr. CAGR %	5.47	327.09	-20.04	-16.4	-48.31
Earnings From Cont. Operations, 3 Yr. CAGR %	70.79	75.96	-2.93	-35.76	-65.67
Net Income, 3 Yr. CAGR %	70.79	75.96	-2.93	-35.76	-65.67
Normalized Net Income, 3 Yr. CAGR %	10.6	155.6	-17.51	-12.23	-52.16
Diluted EPS Before Extra, 3 Yr. CAGR %	70.79	75.96	-2.93	-35.76	-65.67
Accounts Receivable, 3 Yr. CAGR %	-0.43	7.63	4.52	14.05	13.24
Inventory, 3 Yr. CAGR %	-	-	-	-	-
Net Property, Plant and Equip., 3 Yr. CAGR %	-23.06	-25.68	-24.51	-2.03	17.96
Total Assets, 3 Yr. CAGR %	-7.45	-4.36	-5.93	-4.59	-4.94
Tangible Book Value, 3 Yr. CAGR %	6.21	33.44	16.01	3.2	-11.47
Common Equity, 3 Yr. CAGR %	-2.17	5.46	0.88	-5.96	-12
Cash From Operations, 3 Yr. CAGR %	-5.42	57.7	-6.26	-6.86	-52.43
Capital Expenditures, 3 Yr. CAGR %	362.22	-16.02	-65.56	-47.95	-7.25
Levered Free Cash Flow, 3 Yr. CAGR %	-6.93	27	-9.49	20.57	-31.7
Unlevered Free Cash Flow, 3 Yr. CAGR %	-9.45	18.6	-10.4	18.12	-30.94
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	3.95	9.78	9.64	10.32	8.57
Gross Profit, 5 Yr. CAGR %	4.79	15.88	11.05	12.56	3.98
EBITDA, 5 Yr. CAGR %	14.18	117.62	-1.18	6.59	-19.66
EBITA, 5 Yr. CAGR %	41.8	46.25	10.29	105.43	-20.2
EBIT, 5 Yr. CAGR %	30.53	21.39	2.33	84.05	-30.76
Earnings From Cont. Operations, 5 Yr. CAGR %	45.84	-0.08	30.4	3.71	-43.25
Net Income, 5 Yr. CAGR %	45.84	-0.08	30.4	3.71	-43.25
Normalized Net Income, 5 Yr. CAGR %	58.57	14.66	7.59	38.3	-33.63
Diluted EPS Before Extra, 5 Yr. CAGR %	56.69	4.31	30.4	3.71	-43.25
Accounts Receivable, 5 Yr. CAGR %	1.65	10.85	6.56	6.8	9.66
Inventory, 5 Yr. CAGR %	-	-	-	-	-
Net Property, Plant and Equip., 5 Yr. CAGR %	-23.17	-21.8	-20.98	-12.72	-4.48
Total Assets, 5 Yr. CAGR %	-8.22	-3.86	-2.95	-6.83	-6.56
Tangible Book Value, 5 Yr. CAGR %	3.66	32.75	18.29	8.05	-0.12
Common Equity, 5 Yr. CAGR %	-3.6	4.39	2.42	-4.19	-6.83
Cash From Operations, 5 Yr. CAGR %	0.97	38.72	-2.95	12.2	-31.1
Capital Expenditures, 5 Yr. CAGR %	-	8.8	39.92	-19.85	-31.44
Levered Free Cash Flow, 5 Yr. CAGR %	3.81	21.73	9.82	5.96	-21.74
Unlevered Free Cash Flow, 5 Yr. CAGR %	0.35	16.93	6.9	1.24	-21.41