252814622024-01-012024-12-31252814622024-01-012024-12-311252814622024-01-012024-12-311252814622024-01-012024-12-312252814622024-01-012024-12-313252814622024-01-012024-12-311252814622024-12-31252814622023-12-31fsa:ContributedCapitalMember252814622023-12-31fsa:SharePremiumMember252814622023-12-31fsa:RetainedEarningsMember252814622023-12-31fsa:ProposedExtraordinaryDividendRecognisedInEquityMember252814622023-12-31fsa:ProposedDividendRecognisedInEquityMember252814622024-01-012024-12-31fsa:ContributedCapitalMember252814622024-01-012024-12-31fsa:SharePremiumMember252814622024-01-012024-12-31fsa:RetainedEarningsMember252814622024-01-012024-12-31fsa:ProposedDividendRecognisedInEquityMember252814622024-01-012024-12-31fsa:ProposedExtraordinaryDividendRecognisedInEquityMember252814622024-12-31fsa:ContributedCapitalMember252814622024-12-31fsa:SharePremiumMember252814622024-12-31fsa:RetainedEarningsMember252814622024-12-31fsa:ProposedExtraordinaryDividendRecognisedInEquityMember252814622024-12-31fsa:ProposedDividendRecognisedInEquityMember252814622023-12-31252814622024-01-012024-12-31fsa:OtherShorttermPayablesMember252814622023-05-012023-12-31iso4217:DKKxbrli:pureThe Board of Directors and the Executive Board have today considered and approved the annual report of TIMEGRIP A/S for the financial year 01.01.2024 - 31.12.2024.5383147829352887The annual report is presented in accordance with the Danish Financial Statements Act.3101126614606413In our opinion, the financial statements give a true and fair view of the Entity’s financial position at 31.12.2024 and of the results of its operations for the financial year 01.01.2024 - 31.12.2024.160936114118We believe that the management commentary contains a fair review of the affairs and conditions referred to therein.2265927614632356We recommend the annual report for adoption at the Annual General Meeting.569463592771Aalborg1494880246295Rex Archard Clausager2173385914978832Wessel Geoff Ploegmakers50263503295391Henrik Baasch1670750911683441Hans Charly Zwemstra600000011900000To the shareholders of TIMEGRIP A/S110000000We have audited the financial statements of TIMEGRIP A/S for the financial year 01.01.2024 - 31.12.2024, which comprise the income statement, balance sheet, statement of changes in equity and ​notes, including a summary of significant accounting policies. The financial statements are prepared in accordance with the Danish Financial Statements Act. ​ ​In our opinion, the financial statements give a true and fair view of the Entity’s financial position at 31.12.2024 and of the results of its operations for the financial year 01.01.2024 - 31.12.2024 in accordance with the Danish Financial Statements Act.-292491-216559We conducted our audit in accordance with International Standards on Auditing (ISAs) and additional requirements applicable in Denmark. Our responsibilities under those standards and requirements are further described in the "Auditor’s responsibilities for the audit of the financial statements" section of this auditor’s report. We are independent of the Entity in accordance with the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.Management is responsible for the preparation of financial statements that give a true and fair view in accordance with the Danish Financial Statements Act, and for such internal control as Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, Management is responsible for assessing the Entity’s ability to continue as a going concern, for disclosing, as applicable, matters related to going concern, and for using the going concern basis of accounting in preparing the financial statements unless Management either intends to liquidate the Entity or to cease operations, or has no realistic alternative but to do so.127105160023Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are ​free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes ​our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted ​in accordance with ISAs and the additional requirements applicable in Denmark will always detect a material ​misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, ​individually or in the aggregate, they could reasonably be expected to influence the economic decisions of ​users taken on the basis of these financial statements.​​As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, ​we exercise professional judgement and maintain professional scepticism throughout the audit. We also:Identify and assess the risks of material misstatement of the financial statements, whether due to ​fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence ​that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a ​material misstatement resulting from fraud is higher than for one resulting from error, as fraud may ​involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.​Obtain an understanding of internal control relevant to the audit in order to design audit procedures ​that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the ​effectiveness of the Entity’s internal control.​Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates ​and related disclosures made by Management. ​Conclude on the appropriateness of Management’s use of the going concern basis of accounting in ​preparing the financial statements, and, based on the audit evidence obtained, whether a material ​uncertainty exists related to events or conditions that may cast significant doubt on the Entity’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to ​draw attention in our auditor’s report to the related disclosures in the financial statements or, if such ​disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence ​obtained up to the date of our auditor’s report. However, future events or conditions may cause the ​Entity to cease to continue as a going concern.​Evaluate the overall presentation, structure and content of the financial statements, including the disclosures ​in the notes, and whether the financial statements represent the underlying transactions and ​events in a manner that gives a true and fair view.We communicate with those charged with governance regarding, among other matters, the planned scope ​and timing of the audit and significant audit findings, including any significant deficiencies in internal control ​that we identify during our audit.127105160023165178145213Management is responsible for the management commentary. Our opinion on the financial statements does not cover the management commentary, and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the management commentary and, in doing so, consider whether the management commentary is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. Moreover, it is our responsibility to consider whether the management commentary provides the information required by relevant law and regulations.Based on the work we have performed, we conclude that the management commentary is in accordance with the financial statements and has been prepared in accordance with the requirements in the relevant law and regulations. We did not identify any material misstatement of the management commentary.16517814521300The company has tranferred funds to its parent company which may be in breach of the company law’s rules on self-financing. Management may incur liability for this. Interests have been calculated for the transferred funds, based on current terms for such loans. The transferred funds have been paid back in full in 2024 including applied interest. 00Aalborg292283305236René Winther Pedersen28654876335mne3417328654876335State Authorised Public Accountant89799157556242Primary activitiesThe Company's primary activities comprise development, sale and implementation of software (primarily the product TimePlan). 510988513711467Development in activities and financesThe company has generated a profit of DKK 16.708 t.DKK in the financial year 2024.649519447600Events after the balance sheet dateNo events have occurred after the balance sheet date to this date, which would influence the evaluation of this annual report.1029156624536This annual report has been presented in accordance with the provisions of the Danish Financial Statements Act governing reporting class B enterprises with addition of a few provisions for reporting class C.1576847522339845Changes in accounting policiesThe Entity has changed its accounting policies with regard to presentation of trade receivables and deferred revenue. Not paid invoices relating to future financieal years are no longer presented in the balance sheet. ​​ ​​The change in accounting policies has led to a decrease in trade receivables and deferred income of t.DKK 10,499 and t.DKK 10,499, ​​respectively. ​​ The comparative figures have been restated following the change in accounting policies. The change in accounting policies has led to a decrease in trade receivables and deferred income of t.DKK 6,784 and t.DKK 6,784 respectively. The change in accounting policies has no effect in profit for the or equity at balance sheet date. ​Apart from the areas mentioned above, the annual report has been presented applying the accounting policies consistently with last year.109047067817332Non-comparabilityLast financial year , the company changed accounting period. Due to the change in accounting period in 2023, the financial statement for 2024 contain 12 months and the comparative numbers in 2023 contain 8 months. 2695972930233512Recognition and measurementAssets are recognised in the balance sheet when it is probable as a result of a prior event that future economic benefits will flow to the Entity, and the value of the asset can be measured reliably. Liabilities are recognised in the balance sheet when the Entity has a legal or constructive obligation as a result of a prior event, and it is probable that future economic benefits will flow out of the Entity, and the value of the liability can be measured reliably. On initial recognition, assets and liabilities are measured at cost. Measurement subsequent to initial recognition is effected as described below for each financial statement item. Anticipated risks and losses that arise before the time of presentation of the annual report and that confirm or invalidate affairs and conditions existing at the balance sheet date are considered at recognition and measurement. Income is recognised in the income statement when earned, whereas costs are recognised by the amounts attributable to this financial year.2725201230538748Business combinationsThe uniting-of-interests method is applied on mergers where the enterprises concerned are controlled by the Parent, under which method the combination is considered completed at the date of acquisition without restatement of comparative figures. Under the uniting-of-interests method, the acquiree’s assets and liabilities are recognised at their carrying amounts, adjusted for any differences in accounting policies and accounting estimates. The difference between the consideration agreed and the carrying amount of the acquiree is recognised in equity.510000500000Gross profit or lossGross profit or loss comprises revenue, cost of raw materials and consumables and external expenses.4719629131RevenueRevenue from the sale of goods for resale is recognised in the income statement when delivery is made and risk has passed to the buyer. Revenue from the sale of services is recognised in the income statement when delivery is made to the buyer. Revenue is recognised net of VAT, duties and sales discounts and is measured at fair value of the consideration fixed.Other operating incomeOther operating income comprises income of a secondary nature as viewed in relation to the Entity’s primary activities, including salary refunds.698196212409131Cost of salesCost of sales comprises goods consumed in the financial year measured at cost, adjusted for normal inventory writedowns.1025927651Other external expensesOther external expenses include expenses relating to the Entity’s ordinary activities, including expenses for premises, stationery and office supplies, marketing costs, etc. This item also includes writedowns of receivables recognised in current assets.1025927651Staff costsStaff costs comprise salaries and wages, and social security contributions, pension contributions, etc for entity staff.1500Depreciation, amortisation and impairment lossesDepreciation, amortisation and impairment losses relating to equipment comprise depreciation, amortisation and impairment losses for the financial year, and gains and losses from the sale of equipment.1510798888903Other financial incomeOther financial income comprises interest income on receivables from group enterprises and exchange gains on foreing currencies etc.26800962680096Other financial expensesOther financial expenses comprise interest expenses, including exchange losses on transactions in foreign currencies etc.50212744554767Tax on profit/loss for the yearTax for the year, which consists of current tax for the year and changes in deferred tax, is recognised in the ​income statement by the portion attributable to the profit for the year and recognised directly in equity by the portion attributable to entries directly in equity.The Entity is jointly taxed with all Danish group enterprises. The current Danish income tax is allocated among the jointly taxed entities proportionally to their taxable income (full allocation with a refund concerning tax losses).4483259451272965642145465471Intellectual property rights etc.Intellectual property rights etc. comprise acquired intellectual property rights.Intellectual property rights acquired are measured at cost less accumulated amortisation. ​ ​Intellectual property rights etc. are written down to the lower of recoverable amount and carrying amount.2025979118101966Property, plant and equipmentOther fixtures and fittings, tools and equipment are measured at cost less accumulated depreciation and impairment losses. Cost comprises the acquisition price, costs directly attributable to the acquisition and preparation costs of the asset until the time when it is ready to be put into operation. The basis of depreciation is cost less estimated residual value after the end of useful life. Straight-line depreciation is made on the basis of the following estimated useful lives of the assets:Useful life Other fixtures and fittings, tools and equipment3-15 yearsResidual values represent 0 DKK Estimated useful lives and residual values are reassessed annually. Equipment are written down to the lower of recoverable amount and carrying amount.2025979118101966Investments in group enterprisesInvestments in group enterprises are recognised and measured according to the equity method. This means that investments are measured at the pro rata share of the enterprises’ equity value. Group enterprises with negative equity value are measured at DKK 0. Any receivables from these enterprises are written down to net realisable value based on a specific assessment. If the Parent has a legal or constructive obligation to cover the liabilities of the relevant enterprise, and it is probable that such obligation will involve a loss, a provision is recognised that is measured at present value of the costs necessary to settle the obligations at the balance sheet date. Upon distribution of profit or loss, net revaluation of investments in group enterprises is transferred to the reserve for net revaluation according to the equity method in equity.2725201230538748InventoriesInventories are measured at the lower of cost using the FIFO method and net realisable value. ​​Cost consists of purchase price plus delivery costs. ​​The net realisable value of inventories is calculated as the estimated selling price less completion costs and ​costs incurred to execute sale.50000042ReceivablesReceivables are measured at amortised cost, usually equalling nominal value less writedowns for bad and doubtful debts.0PrepaymentsPrepayments comprise incurred costs relating to subsequent financial years. Prepayments are measured at cost.9131CashCash comprise bank deposits.0DividendDividend is recognised as a liability at the time of adoption at the general meeting. Proposed dividend for the financial year is disclosed as a separate item in equity. 11900000Deferred taxDeferred tax is recognised on all temporary differences between the carrying amount and the tax-based value of assets and liabilities, for which the tax-based value is calculated based on the planned use of each asset. However, no deferred tax is recognised for amortisation of goodwill disallowed for tax purposes and temporary differences arising at the date of acquisition that do not result from a business combination and that do not have any effect on profit or loss or on taxable income. Deferred tax assets, including the tax base of tax loss carryforwards, are recognised in the balance sheet at their estimated realisable value, either as a set-off against deferred tax liabilities or as net tax assets.10000Other financial liabilitiesOther financial liabilities are measured at amortised cost, which usually corresponds to nominal value.5398108Joint taxation contributions payable or receivableCurrent joint taxation contributions receivable or joint taxation contributions payable are recognised in the balance sheet, calculated as tax computed on the taxable income of the year, which has been adjusted for prepaid tax. 0Deferred incomeDeferred income comprises income received for recognition in subsequent financial years. Deferred income is measured at cost.0Grundlag for konklusion17058108Konklusion02025-03-27110000002025-03-270true-46427863396355602023-05-0151581082023-12-31-5398108Aalborg53981089000-29249126, 4. sal11000000Østre Havnepromenade6000000Deloitte Statsautoriseret Revisionspartnerselskab510000Aalborg0Aalborg SV47196292000Regnskabsklasse B6000000trueRevisionspåtegning54081082024-12-31170581082024-01-0111000000515322010VandmandenTIMEGRIP A/S1 Staff costs2024 DKK2023 DKKWages and salaries28,105,62313,222,163Pension costs2,440,4881,141,523Other social security costs465,155242,72731,011,26614,606,413Average number of full-time employees56422528146256339635562 Other financial income 2024 DKK2023 DKKFinancial income from group enterprises174,071429,435Other interest income395,392163,336569,463592,7712300 København S3 Other financial expenses2024 DKK2023 DKKFinancial expenses from group enterprises1,371,8370Other interest expenses2,47167Exchange rate adjustments120,572246,2281,494,880246,295Weidekampsgade 64 Tax on profit/loss for the year2024 DKK2023 DKKCurrent tax5,026,3503,268,924Change in deferred tax026,4675,026,3503,295,391Deloitte Statsautoriseret Revisionspartnerselskab5 Intangible assetsAcquired​licences​DKKCost beginning of year174,571Cost end of year174,571Amortisation and impairment losses beginning of year(14,548)Amortisation for the year(32,918)Amortisation and impairment losses end of year(47,466)Carrying amount end of year127,105Årsrapport6 Property, plant and equipmentOther fixtures and fittings, tools and equipment DKKCost beginning of year969,515Additions147,984Cost end of year1,117,499Depreciation and impairment losses beginning of year(824,302)Depreciation for the year(128,019)Depreciation and impairment losses end of year(952,321)Carrying amount end of year165,1782025-03-277 Financial assetsInvestments in group enterprises DKKCost beginning of year15Cost end of year15Impairment losses beginning of year(15)Impairment losses end of year(15)Carrying amount end of year0Investments in subsidiariesRegistered inCorporate formEquity interest %TimePlan Software GmbHFlensburgGmbH100.00TimePlan Software OYHelsinkiOY100.00Wessel Geoff Ploegmakers8 Receivables from group enterprisesThe company has transferred funds to its parent company which may be in breach of the company law’s rules on self-financing. Management may incur liability for this. Interests have been calculated for the transferred funds, based on current terms for such loans. The transferred funds have been paid back in full in 2024 including applied interest. 9 Other payables2024 DKK2023 DKKVAT and duties3,366,6282,610,720Wages and salaries, personal income taxes, social security costs, etc. payable193,4441,205,850Holiday pay obligation536,502693,021Other costs payable386,6853,1384,483,2594,512,72910 Unrecognised rental and lease commitments2024 DKK2023 DKKLiabilities under rental or lease agreements until maturity in total913,741891,455Monthly payment is 70 t.DKK.11 Contingent liabilitiesThe Entity participates in a Danish joint taxation arrangement where TimePlan Holding ApS serves as the administration company. According to the joint taxation provisions of the Danish Corporation Tax Act, the Entity is therefore liable for income taxes etc for the jointly taxed entities. The jointly taxed entities' total known net liability under the joint taxation arrangement is disclosed in the administration company's financial statements.12 Assets charged and collateralThe Entity has guaranteed a part of TimePlan Internationals bank loans with Nordea. The guarantee is limited to 25.883 t.DKK. The relevant bank loans of TimePlan International amounts to 25,883 t.DKK at 31.12.2024.13 Non-arm’s length related party transactionsThe Company has transferred funds to its parent company and is hereby non-compliant with the company law's rules on self-financing. The transferred funds have been paid back in full in 2024 including applied interest. All other related party transactions in the financial year are conducted on an arm’s length basis.