32933491 2024-01-01 2024-12-31 32933491 2024-01-01 2024-12-31 1 32933491 2024-01-01 2024-12-31 1 32933491 2024-01-01 2024-12-31 2 32933491 2024-01-01 2024-12-31 3 32933491 2024-01-01 2024-12-31 1 32933491 2024-01-01 2024-12-31 2 32933491 2024-12-31 32933491 2023-12-31 fsa:ContributedCapitalMember 32933491 2023-12-31 fsa:ReserveForCurrentValueOfHedgingMember 32933491 2023-12-31 fsa:ReserveForNetRevaluationAccordingToEquityMethodMember 32933491 2023-12-31 fsa:RetainedEarningsMember 32933491 2023-12-31 fsa:ProposedDividendRecognisedInEquityMember 32933491 2023-12-31 32933491 2024-01-01 2024-12-31 fsa:RetainedEarningsMember 32933491 2024-01-01 2024-12-31 fsa:ProposedDividendRecognisedInEquityMember 32933491 2024-01-01 2024-12-31 fsa:ContributedCapitalMember 32933491 2024-01-01 2024-12-31 fsa:ReserveForNetRevaluationAccordingToEquityMethodMember 32933491 2024-01-01 2024-12-31 fsa:ReserveForCurrentValueOfHedgingMember 32933491 2024-12-31 fsa:ContributedCapitalMember 32933491 2024-12-31 fsa:ReserveForCurrentValueOfHedgingMember 32933491 2024-12-31 fsa:ReserveForNetRevaluationAccordingToEquityMethodMember 32933491 2024-12-31 fsa:RetainedEarningsMember 32933491 2024-12-31 fsa:ProposedDividendRecognisedInEquityMember 32933491 2023-01-01 2023-12-31 iso4217:DKK xbrli:pure The Board of Directors and the Executive Board have today considered and approved the annual report of Mos Mosh A/S for the financial year 01.01.2024 - 31.12.2024. 596391565 600192523 The annual report is presented in accordance with the Danish Financial Statements Act. 730058 1740498 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. 407681896 421114183 We believe that the management commentary contains a fair review of the affairs and conditions referred to therein. 46622334 38111241 We recommend the annual report for adoption at the Annual General Meeting. 142817393 142707597 Kolding 33690172 33707618 2025-02-18 2458301 2236193 David Skjødt 106668920 106763786 CEO 55580 0 Peter Sextus Rasmussen 3078578 722821 Jón Björnsson 2353 2436247 Kim Hyldahl 109800725 105050360 To the shareholders of Mos Mosh A/S 24217667 23169089 We have audited the financial statements of Mos Mosh 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. 85583058 81881271 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 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. 49744 120985 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. 49744 120985 Our 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.Plan and perform the audit of the financial statements to obtain sufficient appropriate audit evidence regarding the consolidated financial information of the entities or business units as a basis for forming an opinion on the financial statements. We are responsible for the direction, supervision and review of the audit work performed. We remain solely responsible for our audit opinion.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. 3130177 1648071 1241494 1388460 Management 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. 4371671 3036531 245418 10 Kolding 1050 1050 2025-02-18 1023678 1016834 Morten Gade Steinmetz 1270146 1017894 mne34145 5691561 4175410 State Authorised Public Accountant 124549790 96484949 Morten Almtoft Lund 17799766 19679937 mne41365 142349556 116164886 State Authorised Public Accountant 41403485 32924448 Financial highlights2024​DKK'0002023​DKK'0002022​DKK'0002021​DKK'0002020​DKK'000Key figuresRevenue596,392600,193598,104466,414412,521Gross profit/loss142,817142,708145,004123,362107,665Operating profit/loss106,669106,764115,24799,12385,824Net financials3,076(1,713)(189)143(1,528)Profit/loss for the year85,58381,88189,70277,36365,720Total assets266,713223,421369,759277,028172,072Investments in property, ​plant and equipment3,7521,3652,5461,9121,398Equity157,720114,109264,228204,526127,163RatiosGross margin (%)23.9523.7824.2426.4526.10EBIT margin (%)17.8917.7919.2721.2520.80Net margin (%)14.3513.6415.0016.5915.93Return on equity (%)62.9743.2838.2746.6556.51Equity ratio (%)59.1351.0771.4673.8373.90Financial highlights are defined and calculated in accordance with the current version of "Recommendations & Ratios" issued by the CFA Society Denmark.Gross margin (%) :Gross profit/loss * 100​RevenueEBIT margin (%):Operating profit/loss * 100​RevenueNet margin (%) :Profit/loss for the year * 100​RevenueReturn on equity (%) :Profit/loss for the year * 100​Average equityEquity ratio (%) :Equity * 100​Total assets 290879 8334 362927 332266 Primary activitiesThe company’s primary activity consists in developing, manufacturing, sale and distribution of fashion clothing. 4271432 127593 Development in activities and financesThe net revenue is kDKK 596,392 and thereby a little lower than expected. The company has however managed to improve the effectiveness and the rentability of the operations and the profit after tax for the year amounted to kDKK 85,583 The management is satisfied with both the revenue and the profit. 1550633 1997275 Profit/loss for the year in relation to expected developmentsThe year 2024 has, in many ways, been a continuation of the market situation experienced in 2023. Despite the ongoing pressures faced by the retail industry throughout 2024, the management is pleased with the results achieved. The company has demonstrated resilience and adaptability in navigating the challenging market conditions. Our strategic initiatives and operational efficiencies have contributed to maintaining a stable performance. In 2024, we have dedicated significant resources to our ESG initiatives, including preparing the company for the CSRD requirements. These initiatives will be developed further going into 2025. 47879356 35389916 OutlookLooking ahead to 2025, the management remains positive, expecting a growth of 5%. The management expect the revenue to fall within the range of 625m to 635m. The profit before tax (EBT) is expected to fall within the range of 108m to 113m. The management is dedicated to continuing to drive growth and innovation in the coming years. However, the market situation continues to be highly uncertain, and growth expectation is associated with some level of uncertainty. The company will continue its investments in the green transition and foster even closer relationships with its key customers. Both areas will require additional investments in digital development, which will be a focus area in 2025. 70792079 67690605 Statutory report on corporate social responsibilityMOS MOSH takes our responsibility as a company seriously. Our main business activities consist of designing, selling, and distributing fashion clothing. Our products are being produced in Europe and Asia at 25 suppliers, our products are being sold at more than 2.400 retailers mainly in Europe. Sustainability is an integrated part of how we do business. We strive to make a positive impact on society and the environment. We are aware that it will take time before this can be accomplished but until then, we can at least strive to continuously reduce the negative effects derived from our activities. We are devoted to embedding sustainability and social responsibility practices across our entire supply chain. ​​We recognize the significance of understanding and addressing the challenges our industry faces, striving to be a catalyst for change. Our ESG reporting will center around the three core areas environmental considerations, social impact, and good governance practices, and we will address them in this order. ​​MOS MOSH acknowledges the environmental and climate-related risk within our industry, with one of the most significant challenges being our carbon emissions and the waste generated. Textile production has the biggest impact on climate when it comes to the sourcing of materials, manufacturing, and transportation. ​​At MOS MOSH, we are committed to reducing our climate footprint. We are mapping our scope 1 and scope 2 emissions by using “Klimakompasset” a tool made by Erhvervsstyrelsen here is our result for 2023. ​​• scope 1 emissions 83,24t CO2e ​• scope 2 emissions 11,01t CO2e ​​In comparison to the 2022 emissions, we have successfully reduced our scope 2 emissions by 2,69 t CO2e. However, we have seen a significant increase in our Scope 1 emissions, rising by 27,13 t CO2e. This increase is primarily due to higher fossil fuel consumption in our hybrid company cars. The fuel usage is particularly high when the hybrid cars are not charged and are running solely on fossil fuel. The hybrid company cars were acquired prior to our decision to transition all leased company cars to electric models. The company cars we leased in 2024 are all electric and we remain fully committed to upholding this policy. It remains uncertain for us to estimate or report the exact effect of this, but we know it will be positive. Studies from Green NCAP indicate a reduction of 25-40 % going from a fossil fuel driven car to an electric driven car in same category but numbers are without the emission that originates from production. ​​Our scope 2 emissions come from heating and electricity at our office facilities, here we strive to buy from renewable sources and all the electricity that MOS MOSH bought in 2024 came from renewable sources. We will continue with this policy and will be looking for ways to further reduce or offset our emissions. ​We remain committed to annually track our CO2 emissions. While our assessment of scope 3 emissions has yet to be mapped and measured, we recognize that this area is where our biggest impact regarding carbon emissions is. Measuring our scope 3 emissions presents a challenging and intricate task as we navigate through our supply chain, and we must simply state that it is an impossible task for us at the present time. Our goal is that​by the end of 2025, we will be able to map and measure our scope 3 emissions with help from new methods and our suppliers. ​​Despite the challenges in measuring the scope 3 emission and thereby also the results, MOS MOSH is committed to reducing our scope 3 emissions. ​​ MOS MOSH is aware of the big environmental impact that we have, we acknowledge the environmental challenges and risks we face, particularly concerning the choice of materials. The extraction processes are often intensive and resource-consuming and are posing a substantial risk of overexploitation and environmental degradation. It is therefore natural for us to focus on reducing the impact on the environment that comes from our products. ​​The choice of materials is a significant factor when it comes to product quality but also when it comes to the circular process and reducing our environmental footprint. Over the past years, MOS MOSH has intensified our efforts to increase the content of more sustainable fibers in our products. Each collection we create at MOS MOSH we try to increase the number of styles containing better and more sustainable fibers. ​​Today our fibers are categorized in 3 categories: 1. Fibers we prefer, 2. Fibers we like and 3. Fibers we try to limit. The categorization of the fibers is based on animal welfare and the environmental footprint. ​​​​As a natural consequence of which fibers are categorized where, we are using an increasing number of certified fibers. These certifications serve multiple purposes. Firstly, the certificates that we have on some of our products are helping us guarantee a reduced environmental impact throughout our processes. Secondly some of them uphold social responsibility standards by securing ethical labor practices, fair wages, appropriate working hours and safe working conditions at the factories. Furthermore, we have certificates that focus on animal welfare which ensure animals involved in our supply chain are treated humanely and with respect for animal rights. ​We also see certificates as a way to make it easier for the consumers to make informed choices when buying clothes. ​​In 2024 we have used fibers with the following certifications: GOTS (Global Organic Textile Standard), GCS (Good Cashmere Standard), GRS (Global Recycled Standard), Lenzing EcoVero, Tencel Lyocell, OSC (Organic Content Standard), RDS (Responsible Down Standard), RWS (Responsible Wool Standard), LWG (Leather Working Group), RMS (Responsible Mohair Standard), BCI (Better Cotton Initiative) and RAS (Responsible Alpaca Standard). ​​In 2024 49% of the styles designed by MOS MOSH had one of the above-mentioned certificates. This is a small decrease from 2023, when 50% of the styles in our collections carried a certification. BCI (Better Cotton Initiative) continues to be our most used certificate, followed by Lenzing EcoVero and GRS (Global Recycled Standard). ​We have opted to exclude BCI from 2025 due to our evolving perception of BCI as a general certification focusing on making cotton production more climate-resilient and environmentally friendly rather than a certification tied directly to the individual product itself. Our goal for 2025 is that 40% of all the designed styles should carry a certification, having excluded BCI. ​​Durability and longevity are core principles in our approach, as we believe they are crucial to sustainability. Our designs are created with the intention of standing the test of time, reducing the need for constant replacements. To further our commitment, we have launched Re-Loved—a dedicated platform allowing our online customers to sell their pre-loved MOS MOSH pieces, giving them a second life and significantly contributing to waste reduction.​In 2025, MOS MOSH will explore new business models focused on eco-design initiatives, including recycling, repair, and enhancing product longevity, reinforcing our dedication to a more sustainable future. ​The love for what we do and the respect for the people involved with MOS MOSH, is what makes MOS MOSH truly unique. All people, who in one way or another are involved in our activities, should be treated with respect and decency, and no one should experience their basic human rights being suppressed. MOS MOSH acknowledges the challenges and potential risks associated with ensuring human rights and good social conditions throughout our supply chain, especially given that a big part of our supply chain is beyond our direct control and located in what is defined as high-risk countries. Therefor there is a risk that basis rights and working conditions are violated in our supply chain. ​​Our collaboration with suppliers is characterized as long-term relationships in which we rely on carefully selected suppliers who are familiar with our values and expectations. A significant aspect of MOS MOSH’s social responsibility pertains to the conditions in the factories where our products are being manufactured. MOS MOSH​does not have its own manufacturing facilities but depends on our external producers having working conditions that live up to our standards. ​​In 2023 we joined Amfori BSCI - The BSCI initiative is developed to improve social standards with the suppliers by providing a code of conduct and monitoring system for businesses involved in global supply chains. Amfori BSCI conducts audits, assessments, and capacity-building programs to support companies in improving working conditions and social standards. MOS MOSH requires that our suppliers are a member of Amfori BSCI or a similar​organization. ​​Prior to joining Amfori BSCI, MOS MOSH had made our own Code of Conduct, upon becoming a part of Amfori BSCI we have adopted their Code of Conduct. However, we have decided to maintain our own chemical policy along with a policy about animal welfare, which we still require that our suppliers sign. Our chemical policy applies to both SVHC “substances of very high concern” list, and the AFIRM RSL list. When signing our chemical policy our suppliers commit to test garments before shipment, the tests must be performed by a 3rd party test laboratory appointed by MOS MOSH. Our Chemical Policy commits us to test 4-5% of all styles, which are selected​based on risk assessment. All the chemical tests conducted in 2024 passed. ​​At the end of 2024 76% of our suppliers signed our code of conduct. This represents a decrease from 82% in 2023. We have experienced a slight decrease because we have started working with new suppliers who have not yet signed our code of conduct. Our goal for 2024 was that all our suppliers had signed our code of conduct and additional policies, unfortunately we have not succeeded with this. ​​We will keep it as a goal for 2025, that all our suppliers sign the Amfori BSCI code of conduct alongside our policies regarding chemicals and animal welfare. ​​MOS MOSH relies on principles about fairness, respect, and transparency when interacting with people. MOS MOSH is aware that there will be a risk of corruption involved in all businesses where individuals or organizations​can gain advantages from it. The reasons for high risk can vary by business culture, lack of effective institutions to​combat corruption and low economic development. MOS MOSH suppliers are in countries with a CPI score from Transparency Internationals between 40 and 60 which indicates a moderate risk of corruption. ​​In response to our commitment to combat human rights violations, harassment, bullying, humiliating behavior and other unwanted behavior, and the risk of potential bribery within our organization, a whistleblower arrangement was introduced in 2022 and remains in place. The anonymous arrangement is described in our Employee Handbook, which has been handed out to all employees at MOS MOSH and in 2024 it has been integrated into an APV App solution. The whistleblower arrangement has been used once in 2024 and the case has been handled according to our internal policies and procedure. ​At MOS MOSH, we maintain a strict policy concerning gifts and entertainment. We support this policy by day-to-day management behavior and believe that a healthy culture is the strongest guarantee for honest and prober behavior. We emphasize the practice of neither giving nor receiving personal gifts related to business partnerships. Additionally, we ensure that corporate entertainment remains modest and entirely at a professional level. ​​MOS MOSH tries to ensure good governance in our decision-making by actively involving primarily employees but​also suppliers and customers. By seeking their input and letting the principle of “The best argument wins”, we seek transparent and fair decision-making. ​​The cross organizational Data-team was established in 2022 and has since been working both strategically and operationally and has become crucial for the digital development of MOS MOSH. In 2023, we established a cross organizational ESG-team, which has the same decision-making competence and has become an anchor in the forthcoming work with the ESG agenda. ​​It is a clear objective to conduct our business 100% free of bribery and nepotism. This involves a combination of our policies, training, and monitoring. Monitoring is a fundamental part of our due diligence work in 2024. There have not been any breaches of policy or instances of attempted bribery in 2024 to our knowledge. ​​In 2024 we have been working with CSRD and on our double materiality assessment, in this work we focus on ensuring we meet the new requirements for sustainability reporting. By aligning with CSRD, we aim to enhance our accountability and demonstrate our dedication to responsible business practices, helping us contribute to a more sustainable textile industry. The work with CSRD will continue in 2025. 261020991 219245407 266712552 223420817 500000 500000 3024840 0 58908 0 Statutory report on data ethics policyThis report describes how we have conducted our data activities in accordance with our policy for data ethics. ​​Our data activities include collection, storage, use, sharing and deletion of data. This is aimed at all our stakeholders, including our management, employees, customers, suppliers, authorities, and the community. ​We have collected and stored data for the following purposes: ​​• Product management ​• Supplier management, including booking and payment of invoices. ​• Sales and order management, including booking of receivables. ​• Delivery of goods and services. ​• Web shop activities. ​• Organizing employees including payout of salaries. ​• Recruitment, including the handling of incoming applications. ​​We have complied with our principles of data ethics, policies, and standards, as well as the applicable laws, standards and regulations for data protection, data security and data quality in all our data activities. ​We have not harmed, discriminated against, manipulated, or exploited anyone with our data activities, and we have handled our data in an ethically responsible way. We have identified and mitigated the potential risk associated with our data activities such as legal, economical, operational, reputational, and social risk. We have implemented appropriate controls for our data activities such as data governance, data auditing and regular meetings in our Master Data Team. ​​​We have also adhered to the applicable laws, regulations and standards for data protection and data security in our data storage. We have applied with accounting laws which regulate our ERP data storage. We have ensured that our data storage is necessary, relevant, and proportional to our purposes. ​​We have in 2024 initiated process to obtain the D-Mærke certification, which we expect to achieve in 2025. 89136748 68609270 65000000 45000000 Events 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. 157720496 114109270 This annual report has been presented in accordance with the provisions of the Danish Financial Statements Act governing reporting class C enterprises (large).The accounting policies applied to these financial statements are consistent with those applied last year. 2236043 2633274 Consolidated financial statementsReferring to section 112(1) of the Danish Financial Statements Act, no consolidated financial statements have been prepared. 89893694 61689076 Recognition 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. 11652233 25500000 RevenueRevenue from the sale of manufactured goods and goods for resale is recognised in the income statement ​when delivery is made and risk has passed to the buyer. Revenue is recognised net of VAT, duties and sales discounts and is measured at fair value of the consideration fixed. 19232 712325 Other operating incomeOther operating income comprises income of a secondary nature as viewed in relation to the Entity’s primary activities, including profit from the sale of intangible assets and property, plant and equipment, and salary refunds. 1771279 14156200 Cost of salesCost of sales comprises goods consumed in the financial year measured at cost, adjusted for normal inventory writedowns. 3419575 4620672 Other 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. 108992056 109311547 Staff costsStaff costs comprise salaries and wages, and social security contributions, pension contributions, etc for entity staff. 108992056 109311547 Depreciation, amortisation and impairment lossesDepreciation, amortisation and impairment losses relating to property, plant and equipment and intangible ​assets comprise depreciation, amortisation and impairment losses for the financial year, and gains and ​losses from the sale of intangible assets and property, plant and equipment. 266712552 223420817 Income from investments in group enterprisesIncome from investments in group enterprises comprises the pro rata share of the individual enterprises’ profit/loss after full elimination of intra-group profits or losses. 500000 54 Other financial incomeOther financial income comprises dividends etc received on other investments, interest income, including ​interest income on receivables from group enterprises, net capital or exchange gains on securities, payables ​and transactions in foreign currencies, amortisation of financial assets, and tax relief under the Danish ​Tax Prepayment Scheme etc. 0 1908316 Other financial expensesOther financial expenses comprise interest expenses, including interest expenses on payables to group ​enterprises, net capital or exchange losses on securities, payables and transactions in foreign currencies, ​amortisation of financial liabilities, and tax surcharge under the Danish Tax Prepayment Scheme etc. 0 Tax 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). 68609270 227000000 Intellectual property rights etcIntellectual property rights etc comprise development projects completed and in progress with related intellectual property rights, acquired intellectual property rights and prepayments for intangible assets.Intellectual property rights acquired are measured at cost less accumulated amortisation. Patents are amortised on a straight-line basis over their remaining duration, and licences are amortised over the term of the agreement.​ ​Intellectual property rights etc are written down to the lower of recoverable amount and carrying amount. 45000000 -190118729 Property, 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. development process are recognised in cost based on time spent on each asset.​​ ​​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 equipment2-5 yearsLeasehold improvements2-5 yearsEstimated useful lives and residual values are reassessed annually. ​​Items of property, plant and equipment are written down to the lower of recoverable amount and carrying ​amount. Investments in group enterprisesInvestments in group enterprises are measured at cost. Investments are written down to the lower of recoverable amount and carrying amount. 0 Other investmentsOther investments comprise listed securities which are measured at fair value (market price) at the balance ​sheet date, and nlisted equity investments measured at the lower of cost and net realisable value. 45000000 InventoriesInventories 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. 45000000 ReceivablesReceivables are measured at amortised cost, usually equalling nominal value less writedowns for bad and doubtful debts. 0 Deferred 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. ​ ​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. -3328 PrepaymentsPrepayments comprise incurred costs relating to subsequent financial years. Prepayments are measured at ​​cost. 0 CashCash comprises cash in hand and bank deposits. 0 DividendDividend 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. Extraordinary dividend adopted in the financial ​year is recognised directly in equity when distributed and disclosed as a separate item in Management's ​proposal for distribution of profit/loss. -3328 Other financial liabilitiesOther financial liabilities are measured at amortised cost, which usually corresponds to nominal value. 3878000 Prepayments received from customersPrepayments received from customers comprise amounts received from customers prior to delivery of the ​goods agreed or completion of the service agreed. 0 Tax receivable or payableCurrent tax receivable or payable is recognised in the balance sheet, stated as tax computed on this year's taxable income, adjusted for prepaid tax.Joint 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. For tax losses, joint taxation contributions receivable are only recognised if such losses are ​expected to be used under the joint taxation arrangement. 3878000 853160 Cash flow statementReferring to section 86(4) of the Danish Financial Statements Act, the Entity has prepared no cash flow statement as such statement is included in the consolidated cash flow statement of Colonel Holding ApS 0 true 0 Grundlag for konklusion 0 Konklusion 853160 Regnskabsklasse C, stor virksomhed 0 33963556 55580 2023-01-01 20527478 2023-12-31 65000000 Kolding 6000 500000 4 3024840 Egtved Allé 58908 Deloitte Statsautoriseret Revisionspartnerselskab 89136748 Kolding 65000000 Kolding 6000 1 Events 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. Revisionspåtegning 2 Revenue2024 DKK2023 DKKDACH area246,152,466249,818,195Scandinavia area194,226,957192,177,147Benelux area50,941,65653,652,053Other countries105,070,486104,545,128Total revenue by geographical market596,391,565600,192,523The Company only have one activity from sale of clothes. 2024-12-31 3 Fees to the auditor appointed by the Annual General MeetingFor an overview of fees to auditor appointed by the Annual General Meeting refer to the annual report for Colonel Holding ApS, Kolding. 2024-01-01 4 Staff costs2024 DKK2023 DKKWages and salaries29,299,97929,605,049Pension costs3,841,2063,404,854Other social security costs548,987697,71533,690,17233,707,618Average number of full-time employees5954Remuneration of Management2024 DKKRemuneration of Management 2023 DKKTotal amount for management categories1,939,0001,908,3161,939,0001,908,316 59 Remuneration of Management2024 DKKRemuneration of Management 2023 DKKTotal amount for management categories1,939,0001,908,3161,939,0001,908,316 24 1939000 Ejlersvej 5 Depreciation, amortisation and impairment losses2024​DKK2023​DKKAmortisation of intangible assets71,241183,561Depreciation of property, plant and equipment2,387,0602,052,6322,458,3012,236,193 Mos Mosh A/S 6 Other financial income2024 DKK2023 DKKOther interest income1,499,980722,821Exchange rate adjustments1,578,59803,078,578722,821 32933491 7 Other financial expenses2024 DKK2023 DKKOther interest expenses2,353110,591Exchange rate adjustments02,325,6562,3532,436,247 33963556 8 Tax on profit/loss for the year2024 DKK2023 DKKCurrent tax24,177,92323,268,525Change in deferred tax(30,661)(99,436)Adjustment concerning previous years70,405024,217,66723,169,089 2300 København S 9 Proposed distribution of profit and loss2024 DKK2023 DKKOrdinary dividend for the financial year65,000,00045,000,000Extraordinary dividend distributed in the financial year0227,000,000Retained earnings20,583,058(190,118,729) 85,583,05881,881,271 Weidekampsgade 6 Deloitte Statsautoriseret Revisionspartnerselskab 0 Årsrapport 20583058 2025-02-18 Kim Hyldahl 10 Intangible assetsAcquired intangible assets​DKKCost beginning of year1,543,464Cost end of year1,543,464Amortisation and impairment losses beginning of year(1,422,479)Amortisation for the year(71,241)Amortisation and impairment losses end of year(1,493,720)Carrying amount end of year49,744 11 Property, plant and equipmentOther fixtures and fittings, tools and equipment DKKLeasehold improvements DKKCost beginning of year8,933,8484,773,998Additions3,044,960707,240Disposals(313,428)0Cost end of year11,665,3805,481,238Depreciation and impairment losses beginning of year(7,285,777)(3,385,538)Depreciation for the year(1,532,854)(854,206)Reversal regarding disposals283,4280Depreciation and impairment losses end of year(8,535,203)(4,239,744)Carrying amount end of year3,130,1771,241,494 12 Financial assetsInvestments in group enterprises​DKKOther investments​DKKDeposits​DKKCost beginning of year101,0501,016,834Additions186,50006,844Cost end of year186,5101,0501,023,678Exchange rate adjustments3,32800Share of profit/loss for the year55,58000Revaluations end of year58,90800Carrying amount end of year245,4181,0501,023,678Investments in subsidiariesRegistered inCorporate formEquity​interest​%Mos Mosh UK LtdLondonLtd100.00Mos Mosh Retail GmbHHamburgGmbH100.00 13 Inventories 14 Deferred tax2024 DKK2023 DKKIntangible assets(10,944)(26,617)Property, plant and equipment350,406335,418Financial assets23,46523,465Deferred tax362,927332,266 Changes during the year2024 DKK2023 DKKBeginning of year332,266232,830Recognised in the income statement30,66199,436End of year362,927332,266​Deferred tax assetsDeferred tax consists of differences between accounting and tax values. 15 Other receivables2024​DKK2023​DKKDerivative financial instruments3,878,0000Other receivables393,432127,5934,271,432127,593Deriative financial instruments include the fair value of foreign exchange forward transactions of kDKK 3,878. ​​The foreign exchange forward transactions have been entered to secure the company’s purchases of goods against unexpected exchange rate adjustment. The foreign exchange forward transactions secure the exchange rate of 2,728 kEUR until 20-03-2025, 3,551 kEUR until 20-05-2025 and 1,830 kEUR until 21-07-2025. The total amounts to 8,109 kEUR ​ ​ The financial instruments are entered with the company's bank. 16 PrepaymentsPrepayments relate to various prepaid items, including trade fair cost and travel expense. 17 Share capitalNumberPar value DKKNominal value DKKShare capital500,000500,000500,000500,000500,000 18 Unrecognised rental and lease commitments2024 DKK2023 DKKLiabilities under rental or lease agreements until maturity in total3,629,2062,569,345 19 Contingent liabilitiesOther contingent liabilities consists of letters of credit in Sydbank A/S. The Entity participates in a Danish joint taxation arrangement where Colonel 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, and for obligations, if any, relating to the withholding of tax on interest, royalties and dividend 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. 20 Assets charged and collateralThe Entity's bank has a company mortgage on DKK 8.000K nominal. The mortgage are secured by inventories and trade receivables. Carrying amount of mortgaged assets are DKK 183,753 k. 21 Transactions with related partiesThe annual report discloses only transactions with related parties that have not been conducted on arms length terms. No such transactions have been carried out during the financial year. 22 Group relationsName and registered office of the Parent preparing consolidated financial statements for the largest group: Colonel Holding ApSName and registered office of the Parent preparing consolidated financial statements for the smallest group: Colonel Holding ApS