Knowledge base
Articles and guides
KRS data analyses, industry rankings and guides on companies, share capital and financial statements - backed by real examples.
News
Bioceltix in the final EMA dialogue phase: BCX-CM-J could become Europe's first veterinary cell-therapy drug for dogs
Wrocław-based Bioceltix S.A. (KRS 0000744521) entered Q2 2026 in the final EMA dialogue phase regarding BCX-CM-J - Europe's first veterinary cell-therapy drug from mesenchymal stem cells for dogs with osteoarthritis. Responses to the final EMA questions are due in May 2026; the CVMP recommendation and marketing authorisation are possible in Q3/Q4 2026. Pre-commercial biotech: 2024 closed with a PLN 14.9 m loss on zero revenue; cash of PLN 33.6 m at year-end. Trigon DM maintained a buy rating with a price target of PLN 127.2.
May 1, 2026
News
Bioton 2025: record EBITDA of PLN 53.8 m and revenue of PLN 235.9 m, but still a PLN 16.4 m net loss
Warsaw-based Bioton S.A. (KRS 0000214072) - the only Polish manufacturer of biosynthetic human insulin - closed 2025 with revenue of PLN 235.9 m and EBITDA of PLN 53.82 m (margin 18.72%), but a net loss of around PLN -16.4 m keeps the company in the red. EBITDA improved 76% versus 2024 (PLN 30.6 m), driven by international expansion (Malaysia ~PLN 100 m a year) and a contract to produce the insulin analogue Glargine. Yifan Pharmaceutical controls 31.65% of capital indirectly.
May 1, 2026
News
Bloober Team 2025: record net profit of PLN 52.6 m (+150% YoY) driven by Cronos launch and Silent Hill 2 Remake royalties
Kraków-based Bloober Team S.A. (KRS 0000380757) closed 2025 with revenue of PLN 149 m (+67% YoY), net profit of PLN 52.6 m (+150%) and record EBITDA of PLN 89.5 m. Growth was driven by the Cronos: The New Dawn launch (5 September 2025, 500 k players in 3 months) and royalties from Silent Hill 2 Remake (5 m units sold by March 2026, 25% of the entire brand's sales). No dividend recommendation - management is channelling capital into a 7-project pipeline. Tencent controls 20.10% of capital.
May 1, 2026
Explainer
BNP Paribas Bank Polska in 2026: French control, the legacy of BGŻ, Fortis Bank and Raiffeisen Polbank - an mWIG40 issuer from ul. Kasprzaka
BNP Paribas Bank Polska S.A. (KRS 0000011571), headquartered at ul. Marcina Kasprzaka 2 in Warsaw's Wola district, is a Polish bank controlled by France's BNP Paribas Group. The bank in its current form emerged from the merger of three historically separate entities: BGŻ (Bank Gospodarki Żywnościowej), Fortis Bank Polska, and Raiffeisen Polbank. Listed on the WSE since 2008, an mWIG40 constituent, with a seven-member management board and a twelve-member supervisory board.
May 1, 2026
Explainer
Lubelski Węgiel Bogdanka in 2026: the only listed hard-coal miner in eastern Poland, an mWIG40 issuer controlled by Enea
Lubelski Węgiel Bogdanka S.A. (KRS 0000004549), headquartered in Bogdanka village near Łęczna in the Lublin voivodeship, is one of two stock-listed Polish hard-coal miners (alongside JSW), and Poland's largest single-site coal mine. The company is controlled by energy group Enea, has been listed on the WSE since 2009, sits in the mWIG40 index, and runs a four-member management board with a nine-member supervisory board.
May 1, 2026
Explainer
Boryszew in 2026: a diversified chemical-and-metals holding controlled by Roman Karkosik, an mWIG40 issuer from Aleje Jerozolimskie
Boryszew S.A. (KRS 0000063824), headquartered at Aleje Jerozolimskie 92 in Warsaw, is one of the longest-listed Polish industrial holdings on the WSE (since 1996), controlled by entrepreneur Roman Karkosik. The group combines chemical production (Boryszew ERG - automotive fluids), non-ferrous metallurgy (Skawina Non-Ferrous Metals Mill, Hutmen in Wrocław), automotive plastics (Boryszew Automotive Plastics in Tychy), and global automotive supply (Maflow).
May 1, 2026
News
BOŚ Bank: PLN 85.7 m net profit in Q1–Q3 2025 (+108.8% YoY), PLN 30 bn assets target by 2027 - acceleration after years of stagnation
Warsaw-based Bank Ochrony Środowiska S.A. (KRS 0000015525) - 58.05% controlled by NFOŚiGW - generated PLN 85.7 m net profit (+108.8% YoY) in Q1-Q3 2025. The balance sheet rose 9.8% to PLN 24.9 bn. The 2025-2027 strategy targets >PLN 30 bn in assets and a 50% share of green loans in the portfolio. The company has not paid a dividend since 2008 - all capital is reinvested in ESG lending.
May 1, 2026
News
Bumech leaves its mining-services identity and enters Poland's defence sector - two deals in October 2025 and a one-day +20% share-price jump
Katowice-based Bumech S.A. (KRS 0000291379) announced two key defence deals in October 2025: with South African OTT Technologies (MRAP vehicles) and with Sweden's Nordic Air Defence (Kreuger 100 interceptor drones). The share price rose ~20% on the day the NAD deal was announced (6 October 2025). The 2025 result closed with a PLN -153.6 m net loss, but versus the PLN -1.15 bn loss in 2024 it is a significant improvement. The main shareholder: Marcin Sutkowski (~33%).
May 1, 2026
News
Captor Therapeutics: PLN 36 m of cash at 30 September 2025, runway to mid-2026 - clinical data versus the cash clock
Wrocław-based Captor Therapeutics S.A. (KRS 0000756383) - a pre-commercial biotech specialising in TPD (Targeted Protein Degradation) - closed Q3 2025 with PLN 36 m of cash and grants securing financing to mid-2026. CT-01 (hepatocellular carcinoma) entered Phase I - the first patient dosed at Barcelona Clinic Liver Cancer. CT-03 (MCL-1 degrader) nearing clinical entry. Without a new R&D partnership or equity issuance in 2026, the company will need additional financing.
May 1, 2026
News
Celon Pharma 2025: record PLN 244 m revenue, but net loss deepens to PLN 79.4 m - the 2026 outlook hinges on Salmex registration in China and the GLP-1 programme
Celon Pharma S.A. (KRS 0000437778, Kiełpin/Łomianki) closed 2025 with consolidated revenue of PLN 244.34 m (+17.9% YoY), EBITDA of PLN 21.42 m (+42%) and a deepened net loss of PLN -79.36 m (vs PLN -34.45 m a year earlier). The deeper loss reflects spending on the innovative GLP-1 segment. The generics segment grows (+15.3%) and represents 84.4% of revenue. Salmex registration in China is expected by end-2026. Maciej Wieczorek controls 58.8% of capital and 68.2% of voting rights through Glatton sp. z o.o.
May 1, 2026
News
CI Games 2025: back in the black with PLN 5.2 m profit - and a Lords of the Fallen II launch year with a PLN 160 m budget
Warsaw-based CI Games SE (KRS 0000282076) closed 2025 with revenue of PLN 73.8 m, EBITDA of PLN 32.5 m (margin 44.1%) and net profit of PLN 5.2 m - the first positive bottom line in two years. Lords of the Fallen (2023) crossed 2.5 m units sold. The Lords of the Fallen II sequel (developer Hexworks, Barcelona) is in intensive testing; release planned for 2026, budget around PLN 160 m (the largest in the company's history). In March 2026 the company raised about PLN 70 m gross via an ABB of Series M shares to finance the pipeline.
May 1, 2026
News
Cognor 2025: PLN 121.9 m loss and a PLN 300 m rescue equity issuance - betting on the new LSM mill in Siemianowice (450 k tonnes/year) and special steel for defence
Cognor Holding S.A. (KRS 0000071799, Poraj) closed 2025 with a net loss of PLN 121.9 m - an improvement versus the PLN 356.7 m loss in 2024. In November 2025 the company raised PLN 300 m gross via a share issuance at PLN 5 per share (25% below market), increasing share count to 231.4 m and equity to PLN 1,177.4 m. The proceeds go to the LSM rolling mill in Siemianowice (450 k tonnes/year of light profiles) and to special-steel development for defence. Noble Securities forecasts a return to profit of around PLN 65 m in 2026. No dividend for the second year in a row.
May 1, 2026
