40134336 2024-07-01 2025-06-30 40134336 2024-07-01 2025-06-30 1 40134336 2024-07-01 2025-06-30 1 40134336 2024-07-01 2025-06-30 1 40134336 2024-07-01 2025-06-30 2 40134336 2024-07-01 2025-06-30 3 40134336 2024-07-01 2025-06-30 4 40134336 2024-07-01 2025-06-30 5 40134336 2024-07-01 2025-06-30 6 40134336 2024-07-01 2025-06-30 7 40134336 2023-07-01 2024-06-30 40134336 2025-06-30 40134336 2024-06-30 40134336 2023-07-01 c:ContributedCapitalMember 40134336 2023-07-01 c:ReserveForNetRevaluationAccordingToEquityMethodMember 40134336 2023-07-01 c:RetainedEarningsMember 40134336 2023-07-01 2024-06-30 c:ReserveForNetRevaluationAccordingToEquityMethodMember 40134336 2023-07-01 2024-06-30 c:RetainedEarningsMember 40134336 2024-06-30 c:ContributedCapitalMember 40134336 2024-06-30 c:ReserveForNetRevaluationAccordingToEquityMethodMember 40134336 2024-06-30 c:RetainedEarningsMember 40134336 2024-07-01 2025-06-30 c:ReserveForNetRevaluationAccordingToEquityMethodMember 40134336 2024-07-01 2025-06-30 c:RetainedEarningsMember 40134336 2025-06-30 c:ContributedCapitalMember 40134336 2025-06-30 c:ReserveForNetRevaluationAccordingToEquityMethodMember 40134336 2025-06-30 c:RetainedEarningsMember 40134336 2024-07-01 c:LeaseholdImprovementsMember 40134336 2024-07-01 c:FixturesFittingsToolsAndEquipmentMember 40134336 2024-07-01 2025-06-30 c:LeaseholdImprovementsMember 40134336 2024-07-01 2025-06-30 c:FixturesFittingsToolsAndEquipmentMember 40134336 2025-06-30 c:LeaseholdImprovementsMember 40134336 2025-06-30 c:FixturesFittingsToolsAndEquipmentMember 40134336 2024-07-01 c:InvestmentsInGroupEnterprisesMember 40134336 2025-06-30 c:InvestmentsInGroupEnterprisesMember 40134336 2024-07-01 2025-06-30 c:SubsidiaryMember 1 40134336 2025-06-30 c:SubsidiaryMember 1 40134336 2024-07-01 2025-06-30 c:DepositsLongtermInvestmentsAndReceivablesMember 40134336 2025-06-30 c:DepositsLongtermInvestmentsAndReceivablesMember iso4217:DKK xbrli:pure Årsrapport Revisionspåtegning Zite A/S Albert Crilles Sebastian Funder Regnskabsklasse B Beierholm 2023-07-01 2025-11-26 Langagervej 1 9220 Aalborg Ø Opinion Basis for Opinion 2025-11-26 2024-06-30 32895468 2024-07-01 2025-06-30 40134336 Studsgade Aarhus N 29 8000 Aarhus C Aarhus C Beierholm Tangen 9 8200 Danmark true We have on this day presented the annual report for the financial year 01.07.24 - 30.06.25 for Zite A/S. The annual report is presented in accordance with the Danish Financial Statements Act. In our opinion, the financial statements give a true and fair view of the company's assets, liabilities and financial position as at 30.06.25 and of the results of the company's activities for the financial year 01.07.24 - 30.06.25. We believe that the management's review includes a fair review of the matters dealt with in the management's review. The annual report is submitted for adoption by the general meeting. Peer Brændholt Albert Crilles Sebastian Funder Chairman Jesper Angelsø Hjortshøj Peter Herlev Enevoldsen Mogens Kristensen Mads Heide Mikkelsen Peer Brændholt Lars Bo Hansen To the Shareholder of Zite A/S In our opinion the financial statements give a true and fair view of the company's financial position at 30.06.25 and of the results of the company's operations for the financial year 01.07.24 - 30.06.25 in accordance with the Danish Financial Statements Act. We conducted our audit in accordance with International Standards on Auditing (ISAs) and the 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 our report. We are independent of the company in accordance with the International Ethics Standards Board for Accountants’ International Code of Ethics for Professional Accountants (IESBA Code) and the additional ethical requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the IESBA Code. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Management is responsible for the management’s review.Our opinion on the financial statements does not cover the management’s review, and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, it is our responsibility is to read management’s review and, in doing so, consider whether management’s review is materially inconsistent with the financial statements or our knowledge obtained during the audit, or otherwise appears to be materially misstated.Moreover, it is our responsibility to consider whether management’s review provides the information required by law and regulations.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 Danish Financial Statements Act. We did not identify any material misstatement of the management’s review. 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 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 company or to cease operations, or has no realistic alternative but to do so. 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 judgment 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 company'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 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 company to cease to continue as a going concern.Evaluate the overall presentation, structure and contents of the financial statements, including the disclosures, 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 expressing 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. Aarhus Lars Østergaard State Authorised Public Accountant mne26806 Primary activitiesThe company's primary activities consist of providing advertising and marketing services – and more specific designing and running in-house agencies. Development in activities and financial affairsThe income statement for the period 1 July 2024 to 30 June 2025 shows a loss of DKK - 805.052 compared to a loss of DKK -1.872.454 for the period 1 July 2023 – 30 June 2024. The balance sheet reflects equity of DKK 1.166.647 as of 30 June 2025. Gross profit showed a boost of DKK 8.050.355 in the past year. The result for the financial year was in line with expectations and focus on growth. While we did not anticipate a positive result for 2024/25 financial year. OutlookFor the upcoming financial year, the company anticipates a revenue growth of approximately 30% and expects to achieve a positive profit before tax in the range of 0.5-1 million DKK.The company has published The 2025 In-House Barometer, a report based on feedback from 1,000+ marketing professionals across Europe and the U.S. In the rapport, 52% expect further increases in permanent in-house roles in the coming year, with the Nordic figure reaching 61%. This growth extends beyond executional tasks to include more high-value strategic and creative work. 44% of respondents anticipate taking on more Tier 1 activities, such as brand strategy, concept development, and multichannel campaign creation. Based on these insights, we continue to foresee a larger share of marketing functions being insourced, particularly within the company’s key markets.The company is now the reference point for this type of in-house model in the Danish market and focus is on also expanding the brand to more markets in the Region while still building market share in Denmark. Management anticipates increased activity levels for 2025/26 and is confident in the availability of adequate liquidity to support growth.Focus on satisfied customersThe company is dedicated to maintaining high levels of customer satisfaction while fostering strategic collaborations that ensure long-term relevance for its customers. To achieve this, customer satisfaction is continuously monitored. Currently, the average satisfaction score stands above 80 (on a 100 point score), which management considers to be highly satisfactory.Focus on employee satisfactionThe company considers its employees its greatest asset. They are physically located at clients’ premises daily, acting as our direct ambassadors. To maintain a positive work environment, the company continuously measures employee satisfaction across various parameters and has achieved certification as a "Happy Workplace" by ZOIOS, thanks to high scores in employee satisfaction and Employee NPS. The company is actively working to constantly further develop the model and incorporate tech services and AI into the optimization of both processes, people setup of functions and creative output Subsequent eventsNo important events have occurred after the end of the financial year. 46302575 38252220 48069586 41347615 306177 254505 0 6243 -2073188 -3356143 1169066 960743 10383 200206 435194 445677 -1328933 -2640871 -523294 -768417 -805639 -1872454 1169066 960743 -1974705 -2833197 291728 11823 499013 349656 790741 361479 3064830 1895764 140000 0 3204830 1895764 3995571 2257243 716533 845424 23515125 20756285 456079 0 0 795035 548673 552924 25236410 22949668 25236410 22949668 29231981 25206911 500000 500000 2664830 1495764 -1998770 -24065 1166060 1971699 0 72039 0 72039 2294141 2827934 5650902 6431435 15253485 9697409 4867393 4206395 28065921 23163173 28065921 23163173 29231981 25206911 Figures in DKKShare capitalReserve for net revaluation according to the equity methodRetained earningsTotal equity Statement of changes in equity for 01.07.23 - 30.06.24 Balance as at 01.07.23500,000535,0212,809,1323,844,153Net profit/loss for the year0960,743-2,833,197-1,872,454 Balance as at 30.06.24500,0001,495,764-24,0651,971,699 Statement of changes in equity for 01.07.24 - 30.06.25 Balance as at 01.07.24500,0001,495,764-24,0651,971,699Net profit/loss for the year01,169,066-1,974,705-805,639 Balance as at 30.06.25500,0002,664,830-1,998,7701,166,060 500000 535021 2809132 960743 -2833197 500000 1495764 -24065 1169066 -1974705 500000 2664830 -1998770 43372604 37347536 4116683 3371804 580299 628275 71 59 0 275 435194 436440 0 8962 -528118 15220 5.Property, plant and equipmentFigures in DKKLeasehold improvementsOther fixtures and fittings, tools and equipment Cost as at 01.07.2453,428909,523Additions during the year307,083428,358 Cost as at 30.06.25360,5111,337,881 Depreciation and impairment losses as at 01.07.24-41,605-559,868Depreciation during the year-27,178-279,000 Depreciation and impairment losses as at 30.06.25-68,783-838,868 Carrying amount as at 30.06.25291,728499,013 53428 909523 307083 428358 360511 1337881 -41605 -559868 -27178 -279000 -68783 -838868 291728 499013 6.Equity investments in group enterprises Figures in DKKEquity investments in group enterprises Cost as at 01.07.24400,000 Cost as at 30.06.25400,000 Revaluations as at 01.07.241,495,764Net profit/loss from equity investments1,169,066 Revaluations as at 30.06.252,664,830 Carrying amount as at 30.06.253,064,830 Positive balances ascertainable on initial recognition of equity investments measured at equity value0 Name and registered office:Ownership interest Subsidiaries: ZITE I A/S, Aarhus100% 400000 400000 3064830 ZITE I A/S Aarhus 100 140000 140000 140000 8.Work in progress for third parties Work in progress for third parties716,533809,007On-account invoicing-2,294,141-2,791,516 Total work in progress for third parties-1,577,608-1,982,509 Work in progress for third parties716,533845,424Prepayments received from work in progress for third parties, short-term payables-2,294,141-2,827,934 Total-1,577,608-1,982,510 9.Contingent liabilitiesOther contingent liabilitiesThe group companies are jointly and severally liable for tax on the group’s jointly taxedincome etc. Moreover, the group companies are jointly and severally liable for Danishwithholding taxes by way of dividend tax, royalty tax and tax on unearned income.Any subsequent adjustments to corporation taxes and withholding taxes may imply that theCompany's liability is higher.The company enters into a cash-pool arrangement with the group, where the total is jointlyand severally liable credit limit.Lease commitmentsThe Company has entered into car lease agreements, which is settled over 9 to 15 months.The remaining liability constitutes DKK 456k. 10.Related partiesThe company is included in the consolidated financial statements of the parent Spring Family ApS, Aarhus. The annual report is presented in accordance with the provisions of the Danish Financial Statements Act (Årsregnskabsloven) for enterprises in reporting class B with application of provisions for a higher reporting class. Basis of recognition and measurementIncome is recognised in the income statement as earned, including value adjustments of financial assets and liabilities. All expenses, including depreciation, amortisation, impairment losses and write-downs, are also recognised in the income statement.Assets are recognised in the balance sheet when it is probable that future economic benefits will flow to the company, and the value of such assets can be measured reliably. Liabilities are recognised in the balance sheet when it is probable that future economic benefits will flow from the company, and the value of such liabilities can be measured reliably. On initial recognition, assets and liabilities are measured at cost. Subsequently, assets and liabilities are measured as described for each item below.On recognition and measurement, account is taken of foreseeable losses and risks arising before the date at which the annual report is presented and proving or disproving matters arising on or before the balance sheet date. CURRENCYThe annual report is presented in Danish kroner (DKK).On initial recognition, transactions denominated in foreign currencies are translated using the exchange rates applicable at the transaction date. Exchange rate differences between the exchange rate applicable at the transaction date and the exchange rate at the date of payment are recognised in the income statement as a financial item. Receivables, payables and other monetary items denominated in foreign currencies are translated using the exchange rates applicable at the balance sheet date. The difference between the exchange rate applicable at the balance sheet date and at the date at which the receivable or payable arose or was recognised in the latest annual report is recognised under financial income or expenses in the income statement. Fixed assets and other non-monetary assets acquired in foreign currencies are translated using historical exchange rates. Gross profitGross profit comprises revenue, other operating income and consumables and cost of sales and other external expenses RevenueIncome from the sale of services is recognised in the income statement as delivery takes place (delivery method). Revenue is measured at the selling value of the agreed consideration exclusive of VAT and other taxes collected on behalf of third parties and less discounts. Other operating incomeOther operating income comprises income of a secondary nature in relation to the enterprise’s activities, including salary refunds. Costs of raw materials and consumablesExpenses for consumables comprise the consumables consumed to achieve revenue for the year. Other external expensesOther external expenses comprise costs relating to distribution, sales and advertising andadministration, premises and bad debts to the extent that these do not exceed normal write-downs. Staff costsStaff costs comprise wages and salaries as well as other staff-related costs. Depreciation and impairment lossesThe depreciation of property, plant and equipment aim at systematic depreciation over the expected useful lives of the assets. Assets are depreciated according to the straight-line method based on the following expected useful lives and residual values:The basis of depreciation is the cost of the asset less the expected residual value at the end of the useful life. Moreover, the basis of depreciation is reduced by any impairment losses. The useful life and residual value are determined when the asset is ready for use and reassessed annually.Property, plant and equipment are impaired in accordance with the accounting policies referred to in the ‘Impairment losses on fixed assets’ section. Other operating expensesOther operating expenses comprise costs of a secondary nature in relation to the enterprise’s activities, including costs relating to rental activities and losses on the sale of intangible assets and property, plant and equipment. Income from equity investments in group entreprisesFor equity investments in equity investments in subsidiaries, measured using the equity method, the share of the enterprises’ profit or loss is recognised in the income statement after elimination of unrealised intercompany profits and losses and less any goodwill amortisation and impairment losses. Income from equity investments in equity investments in subsidiaries also comprises gains and losses on the sale of equity investments. Other net financialsInterest income and interest expenses, foreign exchange gains and losses on transactions denominated in foreign currencies etc. are recognised in other net financials. Tax on profit/loss for the yearThe current and deferred tax for the year is recognised in the income statement as tax on the profit/loss for the year with the portion attributable to the profit/loss for the year, and directly in equity with the portion attributable to amounts recognised directly in equity.The company is jointly taxed with Danish consolidated enterprises. In connection with the settlement of joint taxation contributions, the current Danish income tax is allocated between the jointly taxed enterprises in proportion to their taxable incomes. This means that enterprises with a tax loss receive joint taxation contributions from enterprises which have been able to use this loss to reduce their own taxable profit. Property, plant and equipmentProperty, plant and equipment comprise leasehold improvements as well as other fixtures and fittings, tools and equipment.Property, plant and equipment are measured in the balance sheet at cost less accumulated depreciation and impairment losses. Cost comprises the purchase price and expenses resulting directly from the purchase until the asset is ready for use. Interest on loans arranged to finance production is not included in the cost.Property, plant and equipment are depreciated using the straight-line method based on useful lives and residual values, which are stated in the ‘Depreciation and impairment losses' section.Property, plant and equipment under constructionProperty, plant and equipment under construction are measured at cost. Costs incurred on property, plant and equipment under construction are transferred to the relevant asset category when the asset is ready for use.Gains and losses on the disposal of property, plant and equipmentGains and losses on the disposal of property, plant and equipment are determined as the difference between the selling price, if any, less selling costs and the carrying amount at the date of disposal less any costs of disposal. Equity investments in group entreprisesEquity investments in subsidiaries are recognised and measured according to the equity method. For equity investments in subsidiaries, the equity method is considered a measurement method.On initial recognition, equity investments measured according to the equity method are measured at cost. Transaction costs directly attributable to the acquisition are recognised in the cost of equity investments. Under subsequent recognition and measurement of equity investments according to the equity method, equity investments are measured at the proportionate share of the enterprises' equity value, determined according to the accounting policies of the parent, adjusted for the remaining value of goodwill and gains and losses on transactions with the enterprises in question. Equity investments, where information for recognition according to the equity method is not known, are measured at cost.Gains or losses on disposal of equity investments are determined as the difference between the disposal consideration and the carrying amount of net assets at the time of sale, including non-amortised goodwill, as well as the expected costs of divestment or discontinuation. Gains and losses are recognised in the income statement under income from equity investments. Impairment losses on fixed assetsThe carrying amount of fixed assets which are not measured at fair value is assessed annually for indications of impairment over and above what is reflected in depreciation.If the company's realised return on an asset or a group of assets is lower than expected, this is considered an indication of impairment.If there are indications of impairment, an impairment test is conducted of individual assets or groups of assets.The assets or groups of assets are impaired to the lower of recoverable amount and carrying amount.The higher of net selling price and value in use is used as the recoverable amount. The value in use is determined as the present value of expected net cash flows from the use of the asset or group of assets as well as expected net cash flows from the sale of the asset or group of assets after the expiry of their useful lives.Impairment losses are reversed when the reasons for the impairment no longer exist. ReceivablesReceivables are measured at amortised cost, which usually corresponds to the nominal value, less write-downs for bad debts.Write-downs for bad debts are determined based on an individual assessment of each receivable if there is no objective evidence of individual impairment of a receivable.Deposits recognised under assets comprise deposits paid to the lessor under leases entered into by the company. Work in progress for third partiesWork in progress for third parties is measured at the selling price of the work performed less on-account invoicing made for each piece of work in progress.The selling price is measured according to the stage of completion at the balance sheet date and total expected income from each piece of work in progress. The degree of completion for each piece of work in progress is normally calculated as the ratio between the resources spent and the total budgeted resource consumption. For some work in progress where the resource consumption cannot be used as a basis, the ratio between completed subactivities and the combined subactivities for the individual piece of work in progress is used instead.When the selling price of a piece of work in progress cannot be determined reliably, the selling price is measured at the lower of costs incurred and net realisable value.The individual piece of work in progress is recognised under receivables or payables in the balance sheet depending on whether the net value of the selling price less prepayments received is positive or negative.When it is likely that the total costs of the individual piece of work in progress will exceed total sales income, the total expected loss is recognised as a provision. PrepaymentsPrepayments recognised under assets comprise costs incurred in respect of subsequent financial years. EquityThe net revaluation of equity investments measured according to the equity method is recognized in the net revaluation reserve in equity according to the equity method to the extent that the carrying amount exceeds the cost. Current and deferred taxCurrent tax payable and receivable is recognised in the balance sheet as tax computed on the basis of the taxable income for the year, adjusted for tax paid on account.Joint taxation contributions payable and receivable are recognised as income tax under receivables or payables in the balance sheet.Deferred tax liabilities and tax assets are recognised on the basis of all temporary differences between the carrying amounts and tax bases of assets and liabilities. However, deferred tax is not recognised on temporary differences relating to goodwill which is non-amortisable for tax purposes and other items where temporary differences, except for acquisitions, have arisen at the date of acquisition without affecting the net profit or loss for the year or the taxable income. In cases where the tax value can be determined according to different taxation rules, deferred tax is measured on the basis of management’s intended use of the asset or settlement of the liability.Deferred tax assets are recognised, following an assessment, at the expected realisable value through offsetting against deferred tax liabilities or elimination in tax on future earnings.Deferred tax is measured on the basis of the tax rules and at the tax rates which, according to the legislation in force at the balance sheet date, will be applicable when the deferred tax is expected to crystallise as current tax. PayablesShort-term financial payables are measured at amortised cost, normally corresponding to the nominal value of such payables. Other short-term payables are measured at net realisable value.