Reka is starting to look interesting again, as the Rubber business becomes profitable. 
Cash 29.5M€ and interest-bearing non-leasing debt 4.8M€. So 24.8M€ net
Market value now: 5,880,760 shares x 4.5€ = 26.5M€
So only 2M€ valuation for the profitable rubber business 
Previously, I criticized the trend of this business in the other direction, but now, with it growing and profitable, the situation is very different.
Reka Industrial Plc: Volumes grew and profitability improved
July–September 2025
Revenue of the Rubber business was 7.4 (6.0) million euros
EBITDA of the Rubber business was 0.9 (0.5) million euros
Group revenue was 7.4 (6.0) million euros
Group EBITDA was 0.7 (0.2) million euros
January–September 2025
Revenue of the Rubber business was 23.8 (20.7) million euros
EBITDA of the Rubber business was 2.9 (0.8) million euros
Group revenue was 23.8 (20.7) million euros
Group EBITDA was 2.1 (0.1) million euros
Group profit for the review period was 1.2 (0.0) million euros
Group cash and other financial assets 29.5 million euros
Group cash assets are invested in low-risk instruments