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2024-04-30 cmn:ConsolidatedMember 0 25800680 2023-05-01 2024-04-30 cmn:ConsolidatedMember 0 25800680 2023-05-01 2024-04-30 cmn:ConsolidatedMember 1 25800680 2023-05-01 2024-04-30 cmn:ConsolidatedMember 2 25800680 2023-05-01 2024-04-30 cmn:ConsolidatedMember 3 25800680 2023-05-01 2024-04-30 cmn:ConsolidatedMember 0 iso4217:DKK xbrli:pure Regnskabsklasse C, mellemstor virksomhed 2023-05-01 2024-04-30 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Key figures</td></tr></table><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Financial ratios</td></tr></table> 1246 -0.015 0.762 0.648 0.098 133 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">For terms and definitions, please see the accounting policies.</td></tr></table> 134725000 12050000 7685000 27715000 96208000 730000 5707000 0 0 0 1841000 1340000 6208000 984000 5224000 5079000 -145000 -271000 -3000000 1213000 -18761000 -12324000 518000 514000 988000 13308000 1246000 0 -1246000 3000000 -3000000 -17554000 81382000 10619000 1103000 3104000 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="20">Alle beløb er angivet i  'x1000'</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" ><b>Amortisation/depreciation of intangible assets and property, plant and equipment</b></td></tr><tr><td colspan="5"></td></tr><tr><td width="67%" colspan="1" align="left" valign="middle" ><b>DKK'000</b></td><td width="8%" colspan="1" align="right" valign="middle" ><b>2023/2024</b></td><td width="8%" colspan="1" align="right" valign="middle" ><b>2022/2023</b></td><td width="8%" colspan="1" align="right" valign="middle" ><b></b></td><td width="9%" colspan="1" align="right" valign="middle" ><b></b></td></tr><tr><td colspan="5"></td></tr><tr><td width="67%" colspan="1" align="left" valign="middle" >Amortisation of intangible assets</td><td width="8%" align="right" valign="middle" >87</td><td width="8%" align="right" valign="middle" >152</td><td width="8%" ></td><td width="9%" ></td></tr><tr><td width="67%" colspan="1" align="left" valign="middle" >Depreciation of property, plant and equipment</td><td width="8%" align="right" valign="middle" >643</td><td width="8%" align="right" valign="middle" >1180</td><td width="8%" ></td><td width="9%" ></td></tr><tr><td colspan="5"></td></tr><tr><td width="67%" colspan="1" align="left" valign="middle" ><b>Amortisation/depreciation of intangible assets and property, plant and equipment total</b></td><td width="8%" align="right" valign="middle" >730</td><td width="8%" align="right" valign="middle" >1332</td><td width="8%" ></td><td width="9%" ></td></tr><tr><td colspan="5"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="20">Alle beløb er angivet i  'x1000'</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Tax for the year</td></tr><tr><td colspan="5"></td></tr><tr><td width="67%" colspan="1" align="left" valign="middle" ><b>DKK'000</b></td><td width="8%" colspan="1" align="right" valign="middle" ><b>2023/2024</b></td><td width="8%" colspan="1" align="right" valign="middle" ><b>2022/2023</b></td><td width="8%" colspan="1" align="right" valign="middle" ><b></b></td><td width="9%" colspan="1" align="right" valign="middle" ><b></b></td></tr><tr><td colspan="5"></td></tr><tr><td width="67%" colspan="1" align="left" valign="middle" >Estimated tax charge for the year</td><td width="8%" align="right" valign="middle" >1075</td><td width="8%" align="right" valign="middle" >2425</td><td width="8%" ></td><td width="9%" ></td></tr><tr><td width="67%" colspan="1" align="left" valign="middle" >Deferred tax adjustment in the year</td><td width="8%" align="right" valign="middle" >-91</td><td width="8%" align="right" valign="middle" >-506</td><td width="8%" ></td><td width="9%" ></td></tr><tr><td width="67%" colspan="1" align="left" valign="middle" >Tax adjustments, prior years</td><td width="8%" align="right" valign="middle" >0</td><td width="8%" align="right" valign="middle" >-1258</td><td width="8%" ></td><td width="9%" ></td></tr><tr><td colspan="5"></td></tr><tr><td width="67%" colspan="1" align="left" valign="middle" ><b>Tax for the year total</b></td><td width="8%" align="right" valign="middle" >984</td><td width="8%" align="right" valign="middle" >661</td><td width="8%" ></td><td width="9%" ></td></tr><tr><td colspan="5"></td></tr></table> 0 87000 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Amortised over</td><td>5 years</td><td>5 Years</td></tr></table> 1246000 0 643000 0 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>MAAmortised over</td><td>6 years</td><td>3 years</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="20">Alle beløb er angivet i  'x1000'</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" ><b>Work in progress for third parties</b></td></tr><tr><td colspan="5"></td></tr><tr><td width="67%" colspan="1" align="left" valign="middle" ><b>DKK'000</b></td><td width="8%" colspan="1" align="right" valign="middle" ><b>2023/2024</b></td><td width="8%" colspan="1" align="right" valign="middle" ><b>2022/2023</b></td><td width="8%" colspan="1" align="right" valign="middle" ><b></b></td><td width="9%" colspan="1" align="right" valign="middle" ><b></b></td></tr><tr><td colspan="5"></td></tr><tr><td width="67%" colspan="1" align="left" valign="middle" >Selling price of work performed</td><td width="8%" align="right" valign="middle" >11705</td><td width="8%" align="right" valign="middle" >5397</td><td width="8%" ></td><td width="9%" ></td></tr><tr><td width="67%" colspan="1" align="left" valign="middle" >Progress billings</td><td width="8%" align="right" valign="middle" >-7034</td><td width="8%" align="right" valign="middle" >-6282</td><td width="8%" ></td><td width="9%" ></td></tr><tr><td colspan="5"></td></tr><tr><td width="67%" colspan="1" align="left" valign="middle" ><b>Work in progress for third parties total</b></td><td width="8%" align="right" valign="middle" >4671</td><td width="8%" align="right" valign="middle" >-885</td><td width="8%" ></td><td width="9%" ></td></tr><tr><td colspan="5"></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Recognised as follows</td></tr><tr><td width="67%" colspan="1" align="left" valign="middle" >Work in progress for</td><td width="8%" align="right" valign="middle" >9619</td><td width="8%" align="right" valign="middle" >4418</td><td width="8%" ></td><td width="9%" ></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >third parties(assets)</td></tr><tr><td width="67%" colspan="1" align="left" valign="middle" >Work in progress for</td><td width="8%" align="right" valign="middle" >-4948</td><td width="8%" align="right" valign="middle" >-5303</td><td width="8%" ></td><td width="9%" ></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >third parties (liabilities)</td></tr><tr><td colspan="5"></td></tr><tr><td width="67%" colspan="1" align="left" valign="middle" ><b>Work in progress for third parties total</b></td><td width="8%" align="right" valign="middle" >4671</td><td width="8%" align="right" valign="middle" >-885</td><td width="8%" ></td><td width="9%" ></td></tr><tr><td colspan="5"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>.Receivables</b></td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Of receivables totalling DKK 38,201 thousand, DKK 7,409 thousand fall due for payment after more than one year after the balance sheet date.</td></tr><tr><td colspan="1"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="20">Alle beløb er angivet i  'x1000'</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Other provision</td></tr><tr><td colspan="5"></td></tr><tr><td width="67%" colspan="1" align="left" valign="middle" ><b>DKK'000</b></td><td width="8%" colspan="1" align="right" valign="middle" ><b>2023/2024</b></td><td width="8%" colspan="1" align="right" valign="middle" ><b>2022/2023</b></td><td width="8%" colspan="1" align="right" valign="middle" ><b></b></td><td width="9%" colspan="1" align="right" valign="middle" ><b></b></td></tr><tr><td colspan="5"></td></tr><tr><td width="67%" colspan="1" align="left" valign="middle" >Opening balance at 1 May</td><td width="8%" align="right" valign="middle" >2090</td><td width="8%" align="right" valign="middle" >0</td><td width="8%" ></td><td width="9%" ></td></tr><tr><td width="67%" colspan="1" align="left" valign="middle" >Provisions in the year</td><td width="8%" align="right" valign="middle" >-1173</td><td width="8%" align="right" valign="middle" >2090</td><td width="8%" ></td><td width="9%" ></td></tr><tr><td colspan="5"></td></tr><tr><td width="67%" colspan="1" align="left" valign="middle" ><b>Other provisions at 30 April</b></td><td width="8%" align="right" valign="middle" >917</td><td width="8%" align="right" valign="middle" >2090</td><td width="8%" ></td><td width="9%" ></td></tr><tr><td colspan="5"></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >The provisions are expected to be payable in</td></tr><tr><td width="67%" colspan="1" align="left" valign="middle" ><b>0 - 1 year</b></td><td width="8%" align="right" valign="middle" >917</td><td width="8%" align="right" valign="middle" >860</td><td width="8%" ></td><td width="9%" ></td></tr><tr><td width="67%" colspan="1" align="left" valign="middle" ><b>1 - 5 years</b></td><td width="8%" align="right" valign="middle" >0</td><td width="8%" align="right" valign="middle" >1230</td><td width="8%" ></td><td width="9%" ></td></tr><tr><td width="67%" colspan="1" align="left" valign="middle" ><b>> 5 years</b></td><td width="8%" align="right" valign="middle" >0</td><td width="8%" align="right" valign="middle" >0</td><td width="8%" ></td><td width="9%" ></td></tr><tr><td colspan="5"></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Other provisions compromise of anticipated loss on onerous contracts.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="20">Alle beløb er angivet i  'x1000'</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" ><b>Non-current liabilities</b></td></tr><tr><td colspan="5"></td></tr><tr><td width="67%" colspan="1" align="left" valign="middle" ><b>DKK'000</b></td><td width="8%" colspan="1" align="right" valign="middle" ><b>Total debt at 30/4 2024</b></td><td width="8%" colspan="1" align="right" valign="middle" ><b>Repayment next year</b></td><td width="8%" colspan="1" align="right" valign="middle" ><b>Long-term portion</b></td><td width="9%" colspan="1" align="right" valign="middle" ><b>Outstanding debt after 5 years</b></td></tr><tr><td colspan="5"></td></tr><tr><td width="67%" colspan="1" align="left" valign="middle" >Income tax payable</td><td width="8%" align="right" valign="middle" >2322</td><td width="8%" align="right" valign="middle" >1387</td><td width="8%" align="right" valign="middle" >935</td><td width="9%" align="right" valign="middle" >0</td></tr><tr><td colspan="5"></td></tr><tr><td width="67%" ></td><td width="8%" align="right" valign="middle" >2322</td><td width="8%" align="right" valign="middle" >1387</td><td width="8%" align="right" valign="middle" >935</td><td width="9%" align="right" valign="middle" >0</td></tr><tr><td colspan="5"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="20">Alle beløb er angivet i  'x1000'</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >.Deferred tax</td></tr><tr><td colspan="5"></td></tr><tr><td width="67%" colspan="1" align="left" valign="middle" ><b>DKK'000</b></td><td width="8%" colspan="1" align="right" valign="middle" ><b>2023/2024</b></td><td width="8%" colspan="1" align="right" valign="middle" ><b>2022/2023</b></td><td width="8%" colspan="1" align="right" valign="middle" ><b></b></td><td width="9%" colspan="1" align="right" valign="middle" ><b></b></td></tr><tr><td colspan="5"></td></tr><tr><td width="67%" colspan="1" align="left" valign="middle" >Deferred tax at May 1</td><td width="8%" align="right" valign="middle" >-1337</td><td width="8%" align="right" valign="middle" >-831</td><td width="8%" ></td><td width="9%" ></td></tr><tr><td width="67%" colspan="1" align="left" valign="middle" >Movement of the year</td><td width="8%" align="right" valign="middle" >-91</td><td width="8%" align="right" valign="middle" >-506</td><td width="8%" ></td><td width="9%" ></td></tr><tr><td colspan="5"></td></tr><tr><td width="67%" colspan="1" align="left" valign="middle" >Deferred tax total</td><td width="8%" align="right" valign="middle" >-1428</td><td width="8%" align="right" valign="middle" >-1337</td><td width="8%" ></td><td width="9%" ></td></tr><tr><td colspan="5"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Deferred income</b></td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Deferred income comprises payments relating to the sale of licences and support & maintenance contracts, which will not be recognised as income until in the subsequent financial year once the recognition criteria are satisfied.</td></tr><tr><td colspan="1"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="20">Alle beløb er angivet i  'x1000'</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" ><b>Contractual obligations and contingencies, etc.</b></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" ><b>Other financial obligations</b></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Other rent and lease liabilities</td></tr><tr><td colspan="5"></td></tr><tr><td width="67%" colspan="1" align="left" valign="middle" ><b>DKK'000</b></td><td width="8%" colspan="1" align="right" valign="middle" ><b>2023/2024</b></td><td width="8%" colspan="1" align="right" valign="middle" ><b>2022/2023</b></td><td width="8%" colspan="1" align="right" valign="middle" ><b></b></td><td width="9%" colspan="1" align="right" valign="middle" ><b></b></td></tr><tr><td colspan="5"></td></tr><tr><td width="67%" colspan="1" align="left" valign="middle" ><b>Rent and lease liabilities</b></td><td width="8%" align="right" valign="middle" >733</td><td width="8%" align="right" valign="middle" >893</td><td width="8%" ></td><td width="9%" ></td></tr><tr><td colspan="5"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Related parties</b></td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The Company solely discloses related party transactions that have not been carried out on an arm's length basis, cf. section 98c(7) of the Danish Financial Statements Act.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >All transactions have been carried out on an arm's length basis.</td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Information on the remuneration to management</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Information on the remuneration to Management appears from note 2, "Staff costs".</td></tr><tr><td colspan="1"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Events after the balance sheet date</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >No events significantly affecting the financial statements for 2023/24 have occurred after the balance sheet date.</td></tr><tr><td colspan="1"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="20">Alle beløb er angivet i  'x1000'</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Adjustments</b></td></tr><tr><td colspan="3"></td></tr><tr><td width="80%" colspan="1" align="left" valign="middle" >DKK'000</td><td width="9%" colspan="1" align="center" valign="middle" ><b>2023/2024</b></td><td width="11%" colspan="1" align="center" valign="middle" ><b>2022/2023</b></td></tr><tr><td colspan="3"></td></tr><tr><td width="80%" colspan="1" align="left" valign="middle" >Amortisation/depreciation and impairment losses</td><td width="9%" align="right" valign="middle" >730</td><td width="11%" align="right" valign="middle" >1322</td></tr><tr><td width="80%" colspan="1" align="left" valign="middle" >Income from investments in associates</td><td width="9%" align="right" valign="middle" >0</td><td width="11%" align="right" valign="middle" >181</td></tr><tr><td width="80%" colspan="1" align="left" valign="middle" >Financial income</td><td width="9%" align="right" valign="middle" >-1841</td><td width="11%" align="right" valign="middle" >-1508</td></tr><tr><td width="80%" colspan="1" align="left" valign="middle" >Financial expenses</td><td width="9%" align="right" valign="middle" >1340</td><td width="11%" align="right" valign="middle" >1831</td></tr><tr><td width="80%" colspan="1" align="left" valign="middle" >.Tax for the year</td><td width="9%" align="right" valign="middle" >984</td><td width="11%" align="right" valign="middle" >611</td></tr><tr><td colspan="3"></td></tr><tr><td width="80%" colspan="1" align="left" valign="middle" ><b>Adjustments total</b></td><td width="9%" align="right" valign="middle" >1213</td><td width="11%" align="right" valign="middle" >2497</td></tr><tr><td colspan="3"></td></tr></table><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="20">Alle beløb er angivet i  'x1000'</td></tr><tr><td width="100%" colspan="3" align="left" valign="middle" ><b>Changes in working capital</b></td></tr><tr><td colspan="3"></td></tr><tr><td width="80%" colspan="1" align="left" valign="middle" >DKK'000</td><td width="9%" colspan="1" align="center" valign="middle" ><b>2023/2024</b></td><td width="11%" colspan="1" align="center" valign="middle" ><b>2022/2023</b></td></tr><tr><td colspan="3"></td></tr><tr><td width="80%" colspan="1" align="left" valign="middle" >Change in receivables including work in progress</td><td width="9%" align="right" valign="middle" >-18059</td><td width="11%" align="right" valign="middle" >-2032</td></tr><tr><td width="80%" colspan="1" align="left" valign="middle" >Change in trade and other payables</td><td width="9%" align="right" valign="middle" >470</td><td width="11%" align="right" valign="middle" >-3633</td></tr><tr><td width="80%" colspan="1" align="left" valign="middle" >Change in provisions</td><td width="9%" align="right" valign="middle" >-1173</td><td width="11%" align="right" valign="middle" >2090</td></tr><tr><td width="80%" colspan="1" align="left" valign="middle" >Other changes in working capital</td><td width="9%" align="right" valign="middle" >1</td><td width="11%" align="right" valign="middle" >-34</td></tr><tr><td colspan="3"></td></tr><tr><td width="80%" colspan="1" align="left" valign="middle" ><b>Changes in working capital total</b></td><td width="9%" align="right" valign="middle" >-18761</td><td width="11%" align="right" valign="middle" >-3609</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">The Board of Directors and the Executive Board have today discussed and approved the annual report of Prolog Development Center Holding A/S for the financial year 1 May 2023 – 30 April 2024.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">The annual report has been prepared in accordance with the Danish Financial Statements Act.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">In our opinion, the consolidated financial statements and the parent company financial statements give a true and fair view of the financial position of the Group and the Parent Company at 30 April 2024 and of the results of their operations and consolidated cash flows for the financial year 1 May 2023 – 30 April 2024.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Further, in our opinion, the Management's review gives a fair review of the matters discussed in the Management's review.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">We recommend that the annual report be approved at the annual general meeting.</td></tr></table> Brøndby 2024-07-05 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Independent auditor's report</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">To the shareholders of Prolog Development Center Holding A/S</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Conclusion</td></tr><tr><td colspan="1">We have audited the consolidated financial statements and the parent company financial statements of Prolog Development Center Holding A/S for the financial year 1 May 2023 – 30 April 2024, which comprise income statement, balance sheet, statement of changes in equity and notes, including accounting policies, for the Group and the Parent Company, and a consolidated cash flow statement. The consolidated financial statements and the parent company financial statements are prepared in accordance with the Danish Financial Statements Act.</td></tr><tr><td colspan="1">In our opinion, the consolidated financial statements and the parent company financial statements give a true and fair view of the financial position of the Group and the Parent Company at 30 April 2023 and of the results of the Group's and the Parent Company's operations as well as the consolidated cash flows for the financial year 1 May 2023 – 30 April 2024 in accordance with the Danish Financial Statements Act.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Basis for opinion</td></tr><tr><td colspan="1">We 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 consolidated financial statements and the parent company financial statements" (hereinafter collectively referred to as "the financial statements") section of our report. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Independence</td></tr><tr><td colspan="1">We are independent of the Group 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.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Management's responsibilities for the financial statements</td></tr><tr><td colspan="1">Management is responsible for the preparation of consolidated financial statements and parent company financial statements that give a true and fair view in accordance with the Danish Financial Statements Act. Moreover, Management is responsible 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.</td></tr><tr><td colspan="1">In preparing the financial statements, Management is responsible for assessing the Group's and the Parent Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting in preparing the financial statements unless Management either intends to liquidate the Group or the Parent Company or to cease operations, or has no realistic alternative but to do so.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Auditor's responsibilities for the audit of the financial statements</td></tr><tr><td colspan="1">Our objectives are to obtain reasonable assurance as to 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 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 the financial statements.</td></tr><tr><td colspan="1">As part of an audit conducted in accordance with ISAs and additional requirements applicable in Denmark, we exercise professional judgement and maintain professional scepticism throughout the audit. We also</td></tr><tr><td colspan="1">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.</td></tr><tr><td colspan="1">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 Group's and the Parent Company's internal control.</td></tr><tr><td colspan="1">Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management.</td></tr><tr><td colspan="1">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 Group's and the Parent Company'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 Group and the Parent Company to cease to continue as a going concern.</td></tr><tr><td colspan="1">Evaluate the overall presentation, structure and contents of the financial statements, including the note disclosures, and whether the financial statements represent the underlying transactions and events in a manner that gives a true and fair view.</td></tr><tr><td colspan="1">Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.</td></tr><tr><td colspan="1">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.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Statement on the Management's review</td></tr><tr><td colspan="1">Management is responsible for the Management's review.</td></tr><tr><td colspan="1">Our opinion on the financial statements does not cover the Management's review, and we do not express any form of assurance conclusion thereon.</td></tr><tr><td colspan="1">In connection with our audit of the financial statements, our responsibility is to read the Management's review and, in doing so, consider whether the Management's review is materially inconsistent with the financial statements or our knowledge obtained during the audit, or otherwise appears to be materially misstated.</td></tr><tr><td colspan="1">Moreover, it is our responsibility to consider whether the Management's review provides the information required under the Danish Financial Statements Act.</td></tr><tr><td colspan="1">Based on the work we have performed, we conclude that the Management's review is in accordance with the financial statements and has been prepared in accordance with the requirements of the Danish Financial Statements Act. We did not identify any material misstatement of the Management's review.</td></tr></table> Copenhagen 2024-07-05 Prolog Development Center Holding A/S H. J. Holst Vej 3-5 C, 2605 Brøndby 25800680 Brøndby 2024-07-05 Leo Schou-Jensen <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Business review</td></tr><tr><td colspan="1">The Group's main activities are to develop and sell software and related activities.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Financial review</td></tr><tr><td colspan="1">The financial report for 2023/24 shows a profit of DKK 5,224 thousand against a profit of DKK 9,888 thousand last year, and the balance sheet at 30 April 2024 shows equity of DKK 53.359 thousand.</td></tr><tr><td colspan="1">PDC did not reach the expected 5-15% growth in Turnover. Instead, there was a decline from 136 mio DKK to 134 mio DKK. This is the effect of a huge investment in development of Resource Management solution. The profit before tax declined from 9.8 mio – to 5.2 mio, which was within the expected range. and is considered satisfactory.</td></tr><tr><td colspan="1">The main activities within the key areas of the company includes</td></tr></table><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">AIRLINES</td></tr><tr><td colspan="1">Development and delivery of PDCs integrated flight suite for Airlines Resource Management, including Operations Control, Commercial Schedules Planning and Crew management to airlines. Four more airlines joined the community of international airlines using the PDC Flight Suite.</td></tr><tr><td colspan="1">The Automated scheduling engine using Mathematical Optimization and AI technologies is now used adopted several Airline customers.</td></tr></table><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">AIRPORTS</td></tr><tr><td colspan="1">PDC SCORE system for Airport Slot Coordination have been delivered to six new customers in Europe, Asia, Middle-east, North America and South America.</td></tr><tr><td colspan="1">PDC have extended our Airport Suite with new modules for resource planning. The delivery of the full Airport Suite integrated is new in process for several airports.</td></tr></table><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">RESOURCE MANAGEMENT SYSTEMER</td></tr><tr><td colspan="1">Implementation of PDC’s work force management and production planning solution to the public and private sectors.</td></tr><tr><td colspan="1">PDC have extended the cooperation with one of the largest regions in Denmark.</td></tr></table><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">TECHNOLOGIES</td></tr><tr><td colspan="1">Continued focus on Cloud environment, cloud management tools, Cyper Security and Information Security.</td></tr><tr><td colspan="1">Continued development AI related tools for planning and scheduling – including Logic Programming and Mathematical Optimization.</td></tr></table><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Financial review, Parent</td></tr><tr><td colspan="1">The Parent company’s objective is as a holding company to hold shares, directly or indirectly. The assessment of the performance within the Parents investments was satisfying and in accordance with expectations. The Parent’s income statement for 2023/24 resulted in a profit of DKK 5,079 thousand, compared to a profit of DKK 9,716 thousand in 2022/23. The financial position as of 30 April 2024 showed an equity of DKK 52,738 thousand and total assets of DKK 53,467 thousand, compared to an equity of DKK 50,930 thousand and total assets of DKK 52,907 thousand last year.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Events after the balance sheet date</td></tr><tr><td colspan="1">No events affecting the 2023/24 annual report has occurred after the balance sheet date.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="1">Outlook</td></tr><tr><td colspan="1">The outlook for 2024/2025 is further moderate growth of 5-10% in Turnover and a Profit that is expected to be in the range DKK 6 - 12 million.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Accounting policies</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>The annual report of Prolog Development Center Holding A/S for 2024 has been prepared in accordance with the provisions in the Danish Financial Statements Act applying to medium-sized reporting class C entities.</td></tr></table> true <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Presentation currency</td></tr><tr><td /><td>The financial statements are presented in Danish Kroner (DKK'000).</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Control</td></tr><tr><td /><td>The consolidated financial statements comprise the Parent Company Prolog Development Center Holding A/S and group entities controlled by Prolog Development Center Holding A/S (control).</td></tr><tr><td /><td>Control means the power to exercise decisive influence over a group entity's financial and operating decisions. Moreover, the possibility of yielding a return from the investment is required.</td></tr><tr><td /><td>In assessing whether the Parent Company controls an entity, de facto control is also taken into consideration.</td></tr><tr><td /><td>The existence of potential voting rights that may currently be exercised or converted into additional voting rights is considered when assessing whether an entity may become empowered to exercise decisive influence over another entity's financial and operating decisions.</td></tr></table><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Significant influence</td></tr><tr><td /><td>Entities over whose financial and operating decisions the Group can exercise significant influence are classified as associates. Significant influence is deemed to exist when the Parent Company holds or controls, directly or indirectly, more than 20% of the voting rights of an entity but does not control it.</td></tr><tr><td /><td>The existence of potential voting rights that may currently be exercised or converted into voting rights is considered when assessing whether significant influence exists.</td></tr></table><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Preparation of consolidated financial statements</td></tr><tr><td /><td>The consolidated financial statements are prepared as a consolidation of the Parent Company's and the individual group entities' financial statements, which are prepared according to the Group's accounting policies. On consolidation, intra-group income and expenses, shareholdings, intra-group balances and dividends as well as realised and unrealised gains on intra-group transactions are eliminated. Unrealised gains on transactions with associates and equity interests are eliminated in proportion to the Group's ownership interest in the entity. Unrealised losses are eliminated in the same way as unrealised gains unless they do not reflect impairment.</td></tr><tr><td /><td>The group entities' financial statement items are included 100% in the consolidated financial statements. Non-controlling interests' share of the profit/loss for the year and of the equity of group entities that are not wholly-owned are included in the Group's profit/loss and equity, respectively, but are presented separately.</td></tr><tr><td /><td>Acquisitions and disposals of non-controlling interests that are still controlled are recognised directly in equity as a transaction between shareholders.</td></tr><tr><td /><td>Equity investments in associates, participating interests and joint ventures are recognised in the consolidated financial statements using the equity method.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Non-controlling interests</td></tr><tr><td /><td>On initial recognition, non-controlling interests are measured at the fair value of the non-controlling interests' equity interest.</td></tr><tr><td /><td>Goodwill relating to the non-controlling interests' share of the acquiree is recognised.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Foreign currency translation</td></tr><tr><td /><td>On initial recognition, transactions denominated in foreign currencies are translated at the exchange rates at the transaction date. Foreign exchange differences arising between the exchange rates at the transaction date and the date of payment are recognised in the income statement as financial income or financial expenses.</td></tr><tr><td /><td>Receivables, payables and other monetary items denominated in foreign currencies are translated at the exchange rates at the balance sheet date. The difference between the exchange rates at the balance sheet date and the date at which the receivable or payable arose or was recognised in the latest financial statements is recognised in the income statement as financial income or financial expenses.</td></tr><tr><td /><td>Foreign group entities</td></tr><tr><td /><td>Foreign subsidiaries and associates are considered separate entities. Items in such entities' income statements are translated at an average exchange rate for the month, and balance sheet items are translated at closing rates. Foreign exchange differences arising on translation of the opening equity of foreign subsidiaries to closing rates and on translation of the income statements from average exchange rates to closing rates are taken directly to equity.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Income statement</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Revenue</td></tr><tr><td /><td>As basis for interpretation regarding revenue recognition, IAS 11 / 18 has been applied.</td></tr><tr><td /><td>Income from the sale of goods and finished goods is recognised in revenue at the time of delivery and when the risk passes to the buyer, provided that the income can be made up reliably and is expected to be received. Income from the sale of services is recognised once the outcome of the transaction can be estimated reliably with reference to the stage of completion. Licence income is recognised as revenue at the time of transfer of the risk to the buyer when, in reality, the agreement is comparable with a sale of software licences.</td></tr><tr><td /><td>In assessing the reality of the individual agreement on the delivery of licences, the Company's obligations in connection with additional deliverances, term of contract, payment period, interminability of the contract, rights to the licence and other relevant factors are taken into consideration. For sales with a long credit period, the debtor's ability to pay is included in the assessment as to whether the economic benefits connected with the sales transaction will flow to the Company and whether revenue can be measured reliably. Sales with long interest-free credit are discounted and recognised at fair value. The related interest income is recognised over the term of the credit arrangement under net financials.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Other operating income</td></tr><tr><td /><td>Other operating income comprise items of a secondary nature relative to the Company's core</td></tr><tr><td /><td>activities, including gains on the sale of non-current assets.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Other operating expenses</td></tr><tr><td /><td>Other external expenses include the year's expenses relating to the Company's core activities, including expenses relating to distribution, sale, advertising, administration, premises, bad debts, payments under operating leases, etc.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Staff costs</td></tr><tr><td /><td>Staff costs include wages and salaries, including compensated absence and pension to the Company's employees, as well as other social security contributions, etc. The item is net of refunds from public authorities.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Profit/loss from equity investments in group entities, associates and equity interests</td></tr><tr><td /><td>A proportionate share of the underlying entities' profit/loss after tax is recognised in the income statement according to the equity method. Shares of profit/loss after tax in subsidiaries and associates are presented as separate line items in the income statement. Full elimination of intra- group gains/losses is made for equity investments in subsidiaries. Only proportionate elimination of intra-group gains/losses is made for equity investments in associates.</td></tr><tr><td /><td>The proportionate share of the individual subsidiaries' profit/loss after tax after full elimination of internal gains/losses are recognised in the parent company's income statement.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Financial income and expenses</td></tr><tr><td /><td>Financial income and expenses are recognised in the income statements at the amounts that concern the financial year. Net financials include interest income and expenses as well as allowances and surcharges under the advance-payment-of-tax scheme, etc.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Tax</td></tr><tr><td /><td>The parent company is covered by the Danish rules on mandatory joint taxation of the Group's Danish subsidiaries. Subsidiaries are included in the joint taxation arrangement from the date at which they are included in the consolidated financial statements and up to the date when they are no longer consolidated.</td></tr><tr><td /><td>The parent company acts as management company for the joint taxation arrangement and consequently settles all corporate income tax payments with the tax authorities.</td></tr><tr><td /><td>On payment of joint taxation contributions, the Danish corporation tax charge is allocated between the jointly taxed entities in proportion to their taxable income. Entities with tax losses receive joint taxation contributions from entities that have been able to use the tax losses to reduce their own taxable income.</td></tr><tr><td /><td>Tax for the year comprises current income tax, joint taxation contribution and changes in deferred tax for the year due to changes in the tax rate. The tax expense relating to the profit/loss for the year is recognised in the income statement, and the tax expense relating to amounts recognised directly in equity is recognised directly in equity.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Balance sheet</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Intangible assets</td></tr><tr><td /><td>On Goodwill is amortised over the expected economic life of the asset, measured by reference to Management’s experience in the individual business segments. Goodwill is amortised on a straight-line basis over the amortisation period, which is 5 years.</td></tr><tr><td /><td>Other intangible assets include development projects and other acquired intangible rights, including software licences, distribution rights and development projects.</td></tr><tr><td /><td>Other intangible assets are measured at cost less accumulated amortisation and impairment losses.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Property, plant and equipment</td></tr><tr><td /><td>Items of property, plant and equipment are measured at cost less accumulated depreciation and impairment losses. Cost includes the acquisition price and costs directly related to the acquisition until the time at which the asset is ready for use.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Leases</td></tr><tr><td /><td>As basis for interpretation regarding recognition and measurement of leases, IAS 17 has been applied.</td></tr><tr><td /><td>On initial recognition, leases for assets that transfer substantially all the risks and rewards incident to the ownership to the Company (finance leases) are measured in the balance sheet at the lower of fair value and the present value of the future lease payments. In calculating the net present value, the interest rate implicit in the lease or the incremental borrowing rate is used as the discount factor. Assets held under finance leases are subsequently accounted for in the same way as the Company's other assets.</td></tr><tr><td /><td>The capitalised residual lease liability is recognised in the balance sheet as a liability, and the interest element of the lease payment is recognised in the income statement over the term of the lease.</td></tr></table><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Lease liabilities</td></tr><tr><td /><td>Lease liabilities are measured at the net present value of the remaining lease payments including any guaranteed residual value based on the interest rate implicit in the lease.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Investments in subsidiaries and participating interests</td></tr><tr><td /><td>On initial recognition, investments in subsidiaries and associates are measured at cost and subsequently at the proportionate share of the entities' net asset values calculated in accordance with the parent company's accounting policies minus or plus any residual value of positive or negative goodwill calculated in accordance with the purchase method of accounting. Subsidiaries and associates with a negative net asset value are measured at DKK 0 (nil), and any amounts owed by such entities are written down by the parent company's share of the net asset value if the amount owed is deemed irrecoverable. If the negative net asset value exceeds the amounts owed, the remaining amount is recognised under provisions if the parent company has a legal or a constructive obligation to cover the entity's deficit. Net revaluations of investments in subsidiaries and associates are transferred to the net revaluation reserve according to the equity method where the carrying amount exceeds the acquisition cost.</td></tr><tr><td /><td>On initial recognition, equity investments in subsidiaries and participating interests are measured at cost, i.e. plus transaction costs. The cost is allocated in accordance with the acquisition method; see the accounting policies regarding business combinations.</td></tr><tr><td /><td>The cost is adjusted by shares of profit/loss after tax calculated in accordance with the Group's accounting policies less or plus unrealised intra-group gains/losses.</td></tr><tr><td /><td>Identified increases in value and goodwill, if any, compared to the underlying entity's net asset value are amortised in accordance with the accounting policies for the assets and liabilities to which they can be attributed. Negative goodwill is recognised in the income statement.</td></tr><tr><td /><td>Dividend received is deduced from the carrying amount.</td></tr><tr><td /><td>Equity investments in subsidiaries and participating interests measured at net asset value are subject to impairment test requirements if there is any indication of impairment.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Impairment of non-current assets</td></tr><tr><td /><td>The carrying amount of intangible assets, property, plant and equipment and investments in subsidiaries and associates is assessed for impairment on an annual basis.</td></tr><tr><td /><td>Impairment tests are conducted on assets or groups of assets when there is evidence of impairment. The carrying amount of impaired assets is reduced to the higher of the net selling price and the value in use (recoverable amount).</td></tr><tr><td /><td>The recoverable amount is the higher of the net selling price of an asset and its value in use. The value in use is calculated as the present value of the expected net cash flows from the use of the asset or the group of assets and the expected net cash flows from the disposal of the asset or the group of assets after the end of the useful life.</td></tr><tr><td /><td>Previously recognised impairment losses are reversed when the reason for recognition no longer exists. Impairment losses on goodwill are not reversed.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Receivables</td></tr><tr><td /><td>Receivables are measured at amortised cost.</td></tr><tr><td /><td>As basis for interpretation regarding provisions for bad debt, IAS 39 has been applied. An impairment loss is recognised if there is objective evidence that a receivable or a group of receivables is impaired. If there is objective evidence that an individual receivable has been impaired, an impairment loss is recognised on an individual basis.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Work in progress for third parties</td></tr><tr><td /><td>Service supplies and contract work in progress for third parties are measured at the market value of the work performed less progress billings. The market value is calculated based on the stage of completion at the balance sheet date and the total expected income from the relevant contract. The stage of completion is calculated based on the expenses incurred relative to the expected total expenses relating to the relevant contract.</td></tr><tr><td /><td>Where the outcome of contract work in progress cannot be estimated reliably, the market value is measured at the expenses incurred in so far as they are expected to be paid by the purchaser.</td></tr><tr><td /><td>Where the total expenses relating to the work in progress are expected to exceed the total market value, the expected loss is recognised as a loss-making agreement under "Provisions" and is expensed in the income statement.</td></tr><tr><td /><td>The value of work in progress less progress billings is classified as assets when the selling price exceeds progress billings and as liabilities when progress billings exceed the market value.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Prepayments</td></tr><tr><td /><td>Prepayments recognised under "Assets" comprise prepaid expenses regarding subsequent financial reporting years.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Equity</td></tr></table><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Net revaluation reserve according to the equity method</td></tr><tr><td /><td>The net revaluation reserve according to the equity method includes net revaluations of investments in subsidiaries and associates relative to cost. The reserve can be eliminated in case of losses, realisation of investments or a change in accounting estimates. The reserve cannot be recognised at a negative amount.</td></tr><tr><td /><td>Dividends from subsidiaries that are expected to be adopted before approval of the annual report of Prolog Development Center Holding A/S are not tied to the reserve for net revaluation according to the equity method.</td></tr></table><br><table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Translation reserve</td></tr><tr><td /><td>The translation reserve comprises the share of foreign exchange differences arising on translation of financial statements of entities that have a functional currency other than DKK, foreign exchange adjustments of assets and liabilities considered part of the Company's net investments in such entities and foreign exchange adjustments regarding hedging transactions that hedge the Company's net investments in such entities. The reserve is dissolved on the sale of foreign entities or if the conditions for effective hedging no longer exist. When equity investments in subsidiaries and associates in the parent company financial statements are subject to the limitation requirement in the net revaluation reserve according to the equity method, foreign exchange adjustments will be included in this equity reserve instead.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Proposed dividend</td></tr><tr><td /><td>Proposed dividend is recognised as a liability at the date when it is adopted at the annual general meeting (declaration date). Dividend expected to be distributed for the year is presented as a separate line item under “Equity”.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Income taxes</td></tr><tr><td /><td>Current tax payables and receivables are recognised in the balance sheet as the estimated income tax charge for the year, adjusted for prior-year taxes and tax paid on account.</td></tr><tr><td /><td>Deferred tax is measured according to the liability method on all temporary differences between the carrying amount and the tax base of assets and liabilities. However, deferred tax is not recognised on temporary differences relating to goodwill which is not deductible for tax purposes and on office premises and other items where temporary differences, apart from business combinations, arise at the date of acquisition without affecting either profit/loss for the year or taxable income. Where alternative tax rules can be applied to determine the tax base, deferred tax is measured based on Management's intended use of the asset or settlement of the liability, respectively.</td></tr><tr><td /><td>Deferred tax is measured according to the tax rules and at the tax rates applicable at the balance sheet date when the deferred tax is expected to crystallise as current tax. Deferred tax assets are recognised at the expected value of their utilisation; either as a set-off against tax on future income or as a set-off against deferred tax liabilities in the same legal tax entity. Changes in deferred tax due to changes in the tax rate are recognised in the income statement.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Provisions</td></tr><tr><td /><td>Provisions comprise anticipated expenses relating to onerous contracts. Provisions are recognised when the Company has a legal or constructive obligation at the balance sheet date as a result of a past event and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation.</td></tr><tr><td /><td>Provisions are measured at net realisable value.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Other Payables</td></tr><tr><td /><td>Other payables are measured at net realisable value.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Deferred income</td></tr><tr><td /><td>Deferred income recognised as a liability comprises payments received concerning income in subsequent financial reporting years.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Cash flow statement</td></tr><tr><td /><td>The cash flow statement shows the Company's net cash flows broken down according to operating, investing and financing activities, the year's changes in cash and cash equivalents as well as the cash and cash equivalents at the beginning and the end of the year.</td></tr><tr><td /><td>Cash flows from operating activities are calculated as the profit/loss for the year adjusted for non-cash operating items, changes in working capital and paid corporate income tax.</td></tr><tr><td /><td>Cash flows from investing activities comprise payments in connection with acquisitions and disposals of entities and activities and of intangible assets, property, plant and equipment and investments.</td></tr><tr><td /><td>Cash flows from financing activities comprise changes in the size or composition of the Company's share capital and related expenses as well as raising of loans, repayment of interest-bearing debt and payment of dividends to shareholders.</td></tr><tr><td /><td>Cash and cash equivalents comprise cash, short term bank loans and short-term securities which are readily convertible into cash, and which are subject only to insignificant risks of changes in value.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Financial ratios</td></tr><tr><td /><td>The financial ratios stated under "Financial highlights" have been calculated as follows</td></tr><tr><td /><td>Operating profit/loss</td><td>Profit/loss before financial items adjusted for other operating income and other operating expenses</td></tr><tr><td /><td>Operating margin</td><td>(Operating profit (EBIT) x 100) / Revenue</td></tr><tr><td /><td>Gross margin</td><td>(Gross profit/loss x 100) / Revenue</td></tr><tr><td /><td>Return on asset</td><td>(Profit/loss from operating activities x 100) / Average assets</td></tr><tr><td /><td>Equity ratio</td><td>(Equity excl. non-controlling interests, year-end x 100) / Total assets, year-end</td></tr><tr><td /><td>Return on equity</td><td>(Profit/loss for the year after tax ex. Non-controlling interests x 100) / Average equity excl. non-controlling interests)</td></tr></table> Årsrapport 30700228 EY Godkendt Revisionspartnerselskab Cortex Park Vest 3 5230 Odense M xWizard version 1.1.1264.0, by EasyX Aps. www.easyx.eu 2022-05-01 2023-04-30 Revisionspåtegning Grundlag for konklusion Konklusion .Revenue 134725 .Revenue 136600 .Revenue 127993 .Revenue 108146 .Revenue 103569 Profit/loss for the year 5224 Profit/loss for the year 9888 Profit/loss for the year 11167 Profit/loss for the year 5812 Profit/loss for the year 2359 Total assets 81438 Total assets 80368 Total assets 78421 Total assets 64936 Total assets 66146 326 0.023 0.736 0.634 0.199 124 136600000 13164000 7881000 30727000 88205000 1332000 11053000 0 -181000 0 1508000 1831000 10549000 661000 9888000 2497000 -3609000 8776000 772000 1831000 779000 6938000 326000 0 -326000 5000000 -5000000 1612000 74475000 9698000 1073000 2959000 663 0.082 0.796 0.595 0.258 123 1487 0.076 0.811 0.609 0.148 113 2605 0.041 0.754 0.541 0.071 110 .Equity 53359 .Equity 51406 .Equity 46974 .Equity 39809 .Equity 36008 Return on assets -0.024 Return on assets 0.04 Return on assets 0.108 Return on assets 0.074 Return on assets 0.028 0 0 0 53000 0 0 -53000 5635000 0 549000 44000 0 5077000 -2000 5079000 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="9">Statement of changes in equity</td></tr><tr><td /><td /><td>Group</td><td>Group</td><td>Group</td><td>Group</td><td>Group</td><td>Group</td><td>Group</td></tr></table> -271000 0 -3000000 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Staff costs and incentive plans</td></tr><tr><td /><td /><td>Group</td><td>Group</td><td>Parent Company</td><td>Parent Company</td></tr><tr><td /><td>DKK'000</td><td>2023/2024</td><td>2022/2023</td><td>2023/2024</td><td>2022/2023</td></tr></table> 0 0 0 0 0 <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Remuneration to members of management</td></tr><tr><td /><td>.Executive Board</td><td>1860</td><td>1899</td><td>0</td><td>0</td></tr><tr><td /><td>.Board of Directors</td><td>53</td><td>53</td><td>0</td><td>0</td></tr><tr><td /><td>Remuneration to members of management total</td><td>1913</td><td>1952</td><td>0</td><td>0</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="20">Alle beløb er angivet i  'x1000'</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" ><b>Amortisation/depreciation of intangible assets and property, plant and equipment</b></td></tr><tr><td colspan="5"></td></tr><tr><td width="83%" colspan="3" align="left" valign="middle" ><b>DKK'000</b></td><td width="8%" colspan="1" align="right" valign="middle" ><b>2023/2024</b></td><td width="9%" colspan="1" align="right" valign="middle" ><b>2022/2023</b></td></tr><tr><td colspan="5"></td></tr><tr><td width="83%" colspan="3" align="left" valign="middle" >Amortisation of intangible assets</td><td width="8%" align="right" valign="middle" >0</td><td width="9%" align="right" valign="middle" >0</td></tr><tr><td width="83%" colspan="3" align="left" valign="middle" >Depreciation of property, plant and equipment</td><td width="8%" align="right" valign="middle" >0</td><td width="9%" align="right" valign="middle" >0</td></tr><tr><td colspan="5"></td></tr><tr><td width="83%" colspan="3" align="left" valign="middle" ><b>Amortisation/depreciation of intangible assets and property, plant and equipment total</b></td><td width="8%" align="right" valign="middle" >0</td><td width="9%" align="right" valign="middle" >0</td></tr><tr><td colspan="5"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="20">Alle beløb er angivet i  'x1000'</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Tax for the year</td></tr><tr><td colspan="5"></td></tr><tr><td width="83%" colspan="3" align="left" valign="middle" ><b>DKK'000</b></td><td width="8%" colspan="1" align="right" valign="middle" ><b>2023/2024</b></td><td width="9%" colspan="1" align="right" valign="middle" ><b>2022/2023</b></td></tr><tr><td colspan="5"></td></tr><tr><td width="83%" colspan="3" align="left" valign="middle" >Estimated tax charge for the year</td><td width="8%" align="right" valign="middle" >2</td><td width="9%" align="right" valign="middle" >13</td></tr><tr><td width="83%" colspan="3" align="left" valign="middle" >Deferred tax adjustment in the year</td><td width="8%" align="right" valign="middle" >0</td><td width="9%" align="right" valign="middle" >0</td></tr><tr><td width="83%" colspan="3" align="left" valign="middle" >Tax adjustments, prior years</td><td width="8%" align="right" valign="middle" >0</td><td width="9%" align="right" valign="middle" >0</td></tr><tr><td colspan="5"></td></tr><tr><td width="83%" colspan="3" align="left" valign="middle" ><b>Tax for the year total</b></td><td width="8%" align="right" valign="middle" >2</td><td width="9%" align="right" valign="middle" >13</td></tr><tr><td colspan="5"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>IMIntangible assets</td></tr><tr><td /><td /><td>Group</td><td>Group</td><td>Group</td></tr><tr><td /><td>DKK'000</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>MAProperty, plant and equipment</td></tr><tr><td /><td /><td>Group</td><td>Group</td><td>Group</td></tr><tr><td /><td>DKK'000</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Financial assets</td></tr><tr><td /><td>Group</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Nærtstående part</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="20">Alle beløb er angivet i  'x1000'</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" ><b>Work in progress for third parties</b></td></tr><tr><td colspan="5"></td></tr><tr><td width="83%" colspan="3" align="left" valign="middle" ><b>DKK'000</b></td><td width="8%" colspan="1" align="right" valign="middle" ><b>2023/2024</b></td><td width="9%" colspan="1" align="right" valign="middle" ><b>2022/2023</b></td></tr><tr><td colspan="5"></td></tr><tr><td width="83%" colspan="3" align="left" valign="middle" >Selling price of work performed</td><td width="8%" align="right" valign="middle" >0</td><td width="9%" align="right" valign="middle" >0</td></tr><tr><td width="83%" colspan="3" align="left" valign="middle" >Progress billings</td><td width="8%" align="right" valign="middle" >0</td><td width="9%" align="right" valign="middle" >0</td></tr><tr><td colspan="5"></td></tr><tr><td width="83%" colspan="3" align="left" valign="middle" ><b>Work in progress for third parties total</b></td><td width="8%" align="right" valign="middle" >0</td><td width="9%" align="right" valign="middle" >0</td></tr><tr><td colspan="5"></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Recognised as follows</td></tr><tr><td width="83%" colspan="3" align="left" valign="middle" >Work in progress for</td><td width="8%" align="right" valign="middle" >0</td><td width="9%" align="right" valign="middle" >0</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >third parties(assets)</td></tr><tr><td width="83%" colspan="3" align="left" valign="middle" >Work in progress for</td><td width="8%" align="right" valign="middle" >0</td><td width="9%" align="right" valign="middle" >0</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >third parties (liabilities)</td></tr><tr><td colspan="5"></td></tr><tr><td width="83%" colspan="3" align="left" valign="middle" ><b>Work in progress for third parties total</b></td><td width="8%" align="right" valign="middle" >0</td><td width="9%" align="right" valign="middle" >0</td></tr><tr><td colspan="5"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="20">Alle beløb er angivet i  'x1000'</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Other provision</td></tr><tr><td colspan="5"></td></tr><tr><td width="83%" colspan="3" align="left" valign="middle" ><b>DKK'000</b></td><td width="8%" colspan="1" align="right" valign="middle" ><b>2023/2024</b></td><td width="9%" colspan="1" align="right" valign="middle" ><b>2022/2023</b></td></tr><tr><td colspan="5"></td></tr><tr><td width="83%" colspan="3" align="left" valign="middle" >Opening balance at 1 May</td><td width="8%" align="right" valign="middle" >0</td><td width="9%" align="right" valign="middle" >0</td></tr><tr><td width="83%" colspan="3" align="left" valign="middle" >Provisions in the year</td><td width="8%" align="right" valign="middle" >0</td><td width="9%" align="right" valign="middle" >0</td></tr><tr><td colspan="5"></td></tr><tr><td width="83%" colspan="3" align="left" valign="middle" ><b>Other provisions at 30 April</b></td><td width="8%" align="right" valign="middle" >0</td><td width="9%" align="right" valign="middle" >0</td></tr><tr><td colspan="5"></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >The provisions are expected to be payable in</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" ><b>0 - 1 year</b></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" ><b>1 - 5 years</b></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" ><b>> 5 years</b></td></tr><tr><td colspan="5"></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Other provisions compromise of anticipated loss on onerous contracts.</td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="20">Alle beløb er angivet i  'x1000'</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >.Deferred tax</td></tr><tr><td colspan="5"></td></tr><tr><td width="83%" colspan="3" align="left" valign="middle" ><b>DKK'000</b></td><td width="8%" colspan="1" align="right" valign="middle" ><b>2023/2024</b></td><td width="9%" colspan="1" align="right" valign="middle" ><b>2022/2023</b></td></tr><tr><td colspan="5"></td></tr><tr><td width="83%" colspan="3" align="left" valign="middle" >Deferred tax at May 1</td><td width="8%" align="right" valign="middle" >-21</td><td width="9%" align="right" valign="middle" >-21</td></tr><tr><td width="83%" colspan="3" align="left" valign="middle" >Movement of the year</td><td width="8%" align="right" valign="middle" >0</td><td width="9%" align="right" valign="middle" >0</td></tr><tr><td colspan="5"></td></tr><tr><td width="83%" colspan="3" align="left" valign="middle" >Deferred tax total</td><td width="8%" align="right" valign="middle" >-21</td><td width="9%" align="right" valign="middle" >-21</td></tr><tr><td colspan="5"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td colspan="20">Alle beløb er angivet i  'x1000'</td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" ><b>Contractual obligations and contingencies, etc.</b></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" ><b>Other financial obligations</b></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >Other rent and lease liabilities</td></tr><tr><td colspan="5"></td></tr><tr><td width="83%" colspan="3" align="left" valign="middle" ><b>DKK'000</b></td><td width="8%" colspan="1" align="right" valign="middle" ><b>2023/2024</b></td><td width="9%" colspan="1" align="right" valign="middle" ><b>2022/2023</b></td></tr><tr><td colspan="5"></td></tr><tr><td width="83%" colspan="3" align="left" valign="middle" ><b>Rent and lease liabilities</b></td><td width="8%" align="right" valign="middle" >0</td><td width="9%" align="right" valign="middle" >0</td></tr><tr><td colspan="5"></td></tr><tr><td width="100%" colspan="5" align="left" valign="middle" >As management company, the Company is jointly taxed with other Danish group entities. The Company is jointly and severally with other jointly taxed group entities for payment of income taxes the income years 2012/13 and withholding taxes falling due for payment on or after 1 July 2012 in the group of jointly taxed entities.</td></tr><tr><td colspan="5"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Collateral</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The group has not provided any security or other collateral in assets as 30 April 2024.</td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >The parent Company has not placed any assets or other as security for loans at 30 April 2024.</td></tr><tr><td colspan="1"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Related parties</b></td></tr><tr><td colspan="1"></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Transactions with related parties</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Transactions with wholly owned subsidiaries are not disclosed, cf Article 98c, section 3 of the Danish Financial Statements Act.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >Regarding other related parties, the Company solely discloses related party transactions that have not been carried out on an arm's length basis, cf. section 98c(7) of the Danish Financial Statements Act.</td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >All transactions have been carried out on an arm's length basis.</td></tr><tr><td colspan="1"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td width="100%" colspan="1" align="left" valign="middle" ><b>Events after the balance sheet date</b></td></tr><tr><td width="100%" colspan="1" align="left" valign="middle" >No events significantly affecting the financial statements for 2023/24 have occurred after the balance sheet date.</td></tr><tr><td colspan="1"></td></tr></table> <table xmlns="http://www.w3.org/1999/xhtml" style="border-right: 0px; border-top: 0px; border-left: 0px; width: 650px; border-bottom: 0px; border-collapse: collapse" width="100%"><tr><td /><td>Appropriation of profit</td></tr><tr><td /><td>Recommended appropriation of profit</td></tr><tr><td /><td /><td>Parent Company</td><td>Parent Company</td></tr><tr><td /><td>DKK'000</td><td>2023/2024</td><td>2022/2023</td></tr></table> 5635000 -3106000 Ledelsespåtegning 0 0 0 49000 0 0 -49000 9933000 -181000 0 7000 7000 9703000 -13000 9716000 9716000 -172000 0 0 0 0 0 9228000 -2512000 0 58000 58000 682000 1113000 1795000 0 0 1428000 1428000 3281000 38201000 9619000 0 0 16033000 9000 63862000 14295000 78157000 81438000 510000 0 -572000 50250000 2550000 621000 53359000 917000 917000 0 935000 935000 4948000 1944000 1387000 7314000 10634000 26227000 28079000 81438000 14295000 930000 872000 7237000 5442000 0 145000 145000 850000 342000 1192000 0 0 1337000 1337000 2674000 40525000 4418000 0 42000 844000 16000 45845000 31849000 77694000 80368000 510000 0 -301000 47721000 3000000 476000 51406000 2090000 2090000 0 2385000 2385000 5303000 4652000 117000 7328000 7087000 24487000 28962000 80368000 31849000 0 0 0 0 0 0 48426000 0 21000 48447000 48447000 0 0 514000 896000 3000000 0 4410000 610000 5020000 53467000 510000 41133000 0 8545000 2550000 0 52738000 0 0 681000 0 681000 0 45000 0 3000 0 48000 729000 53467000 0 0 0 0 0 0 48562000 0 21000 48583000 48583000 0 0 619000 1599000 0 0 2218000 2106000 4324000 52907000 510000 41269000 0 6151000 3000000 0 50930000 0 0 1930000 0 1930000 0 47000 0 0 0 47000 1977000 52907000 510000 -301000 47721000 3000000 50930000 476000 51406000 31849000 930000 785000 5991000 4799000 0 0 0 0 -271000 0 2529000 0 0 2550000 0 -3000000 5079000 -271000 -3000000 145000 0 0 510000 -572000 50250000 2550000 52738000 621000 510000 41269000 6151000 3000000 50930000 0 0 0 0 5635000 -271000 -5500000 0 -3106000 0 5500000 0 2550000 0 0 -3000000 510000 41133000 8545000 2550000 Cash generated from operations (Operating activities) 6434000 Cash generated from operations (Operating activities) 12385000 30237000 495000 495000 435000 290000 0 0 0 87000 495000 495000 0 435000 377000 58000 1343000 493000 4648000 4306000 21000 0 189000 0 1225000 0 454000 0 1364000 682000 682000 5873000 4760000 1113000 PDC-Argos ApS Denmark 0 Dictus ApS Denmark 0 PDC A/S Denmark 0 PDC Aviation Ltd. United Kingdom 0 PDC Solutions Canada Ltd. Canada 0 Prolog Development Center Asia Pacific Pte. Ltd. Singapore 0 PDC-Solutions Columbia <p xmlns="http://www.w3.org/1999/xhtml">SAS</p><p xmlns="http://www.w3.org/1999/xhtml">Parent company</p> Columbia 0 6992000 41570000 0 0 -271000 5500000 5635000 6992000 41434000 48426000 Finn Grønskov Leo Schou-Jensen Finn Grønskov Bente Torp Grønskov Vibeke Konggaard Schou-Jensen EY Godkendt Revisionspartnerselskab 30700228 Allan Nørgaard State Authorised, Public Accountant mne35501 Dirch Passers Allé 36, P.O. Box 250, DK-2000 Frederiksberg