AI-discovered deep-value play.
Found it. The company matching all four criteria is Paedi Protect AG — with the caveat that it isn't itself listed; it's the fully-consolidated crown jewel of the listed nano-cap NanoRepro AG (NN6).
Here's how the clues line up:
€11m revenue — Paedi Protect (the PAEDIPROTECT baby/kids skincare brand, Marburg, "Made in Germany") did €11.5m in 2024 and €11.7m in 2025 — the exact figure you described. (NanoRepro's own holding revenue is only ~€4.3m; the group consolidated total is ~€16m.) No financial debt — it was built 100% bootstrapped; it has never raised external funding, and NanoRepro bought its 50.03% stake in Oct 2024 from its own cash reserves (€17.6m) "ohne Inanspruchnahme zusätzlicher Fremdmittel." Positive owner-FCF / profitability — consistently profitable and cash-generative; NanoRepro itself is also debt-free with a ~98% equity ratio and ~€7.75m cash on hand. Founder still owns a large stake — co-founders Dr. Dr. Gerald Rehor (dermatologist, still "wissenschaftlicher Vorstand"), Dr. Olaf Stiller and Dirk Arend ("Co-Gründer und Gesellschafter") kept roughly half the company after NanoRepro's majority buyout. So if the "nano-cap" you're thinking of is a listed ticker, the answer is NanoRepro AG (NN6, WKN 657710) — the ~€25m-cap German nano-cap whose main operating asset generates the €11m. The €11m revenue number itself belongs to its subsidiary Paedi Protect.