362022382024-01-012024-12-31362022382024-01-012024-12-311362022382024-01-012024-12-313362022382024-01-012024-12-312362022382024-01-012024-12-31RevPers4362022382024-01-012024-12-31RevPers5362022382024-01-012024-12-31fsa:ContributedCapitalMember362022382024-01-012024-12-31fsa:RetainedEarningsMember362022382023-01-012023-12-31362022382024-12-31362022382024-01-01fsa:ContributedCapitalMember362022382024-01-01fsa:RetainedEarningsMember362022382023-12-31xbrli:purexbrli:pureiso4217:DKKxbrli:sharesxbrli:pureTo the shareholders of BE 22 P/S Basis of opinion 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. Opinion We have audited the financial statements of BE 22 P/S for the financial year 1 January 2024 - 31 December 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 December 2024 and of the results of its operations for the financial year 1 January 2024 - 31 December 2024 in accordance with the Danish Financial Statements Act. 2025-06-30KoldingAuditor's responsibilities for the audit of the financial statements 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. 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.Statement on Management's review 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, 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 in the audit or otherwise appears to be materially misstated. Moreover, it is our responsibility to consider whether the Management's review provides the information required by the relevant 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 in the relevant law and regulations. We did not identify any material misstatement of the Management's Review.Grundlag for konklusionKonklusion3396355633963556mne26771mne35830Lars Ørum NielsenSussi Toft JohansenRasmus Lildholdt KjærRasmus Lildholdt KjærMark Augustenborg ØdumDeloitte Statsautoriseret RevisionspartnerselskabDeloitte Statsautoriseret RevisionspartnerselskabManaging DirectorBoard MemberChairmanRevisionspåtegningtrue455224124633771048552623556407Regnskabsklasse B5000005000004980501400344817181017923511766688Recognition and measurement Assets 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 company, and the value of the assets can be measured reliably. Liabilities are recognised in the balance sheet when the company 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 company, and the value of the liabilities can be measured reliably. On initial recognition, assets and liabilities are measured at cost. Measurement subsequent to initial recognition is affected 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. Foreign currency translation On initial recognition, foreign currency transactions are translated applying the exchange rate at the transaction date. Receivables, payables and other monetary items denominated in foreign currencies that have not been settled at the balance sheet date are translated using the exchange rate at the balance sheet date. Exchange differences that arise between the rate at the transaction date and the one in effect at the payment date or the rate at the balance sheet date are recognised in the income statement as financial income or financial expenses. Property, plant and equipment, intangible assets, inventories and other non-monetary assets that have been purchased in foreign currencies are translated using historical rates. Proposed dividends Proposed dividends for the year are recognised as a separate item under equity. Proposed dividends are recognised as a liability when approved by the Annual General Meeting. Depreciation, amortisation and impairment of tangible assets Depreciation, amortisation and impairment losses relating to property, plant and equipment comprise depreciation, amortisation and impairment losses for the financial year, calculated on the basis of the residual values and useful lives of the individual assets and impairment testing as well as gains and losses from the sale of property, plant and equipment. Balance sheet Property, plant and equipment Solar parks and property 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. Interest expenses on loans for the manufacturing of property, plant and equipment are included in cost if they relate to the manufacturing period. All other financial expenses are recognised in the income statement. The present value of the expected costs of dismantling a solar park after the end of its useful life (asset retirement obligations) is included in the cost of the solar park. The basis of depreciation is cost less estimated residual value after the end of useful life. The useful life and residual value are reassessed anually. Straight-line depreciation is made on the basis of the following estimated useful lives of the assets: Solar parks: 30 years Items of property, plant and equipment are written down to the lower of recoverable amount and carrying amount. Current assets Receivables Receivables are measured at amortised cost, usually equalling nominal value, less writedowns for bad and doubtful debts. Impairment of accounts receivables past due is established on individual assessment of receivables. Prepayments Prepayments recognised in assets comprises prepaid costs regarding subsequent financial years. Cash and cash equivalents Cash and cash equivalents comprise cash. Equity Proposed dividends Proposed dividends for the year are recognised as a separate item under equity. Proposed dividends are recognised as a liability when approved by the Annual General Meeting. Provisions Asset retirement obligations comprise the present value of the estimated expenses related to the retirement of solar plants at the end of their useful life. The provision is determined by discounting expected future cash flows. 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. Provisions are measured at net realisable value or at fair value if the obligation is expected to be settled far into the future. Liabilities Financial liabilities are recognised initially at the proceeds received net of transaction expenses incurred. In subsequent periods, financial liabilities are measured at amortised cost, corresponding to the capitalised value using the effective interest method, so that the difference between the proceeds and the nominal value is recognised in the Income Statement over the life of the financial instrument. Mortgage debt is accordingly measured at amortised cost, corresponding to the outstanding balance in case of cash loans. In case of bond loans, amortised cost corresponds to the outstanding balance determined as the underlying cash value of the loans at the time of borrowing adjusted for amortisation of capital losses on the loans over the repayment period. Other liabilities, comprising deposits, trade payables and other accounts payable, are measured at amortised cost, which usually corresponds to the nominal value. Off-balance sheet items Contingent liabilities comprise obligations that arise from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not fully within the control of the company; or present obligations that arise from past events but are not recognised because the outflow of resources embodying economic benefits will probably not be required to settle the obligation or because the amount of the obligation cannot be measured with sufficient reliability. Lease commitments are measured at the nominal value of the remaining lease payments. Cash and cash equivalents comprise cash. , Cash and cash equivalents Cash and cash equivalents comprise cash. Prepayments recognised in assets comprises prepaid costs regarding subsequent financial years. , Prepayments Prepayments recognised in assets comprises prepaid costs regarding subsequent financial years. Equity Proposed dividends Proposed dividends for the year are recognised as a separate item under equity. Proposed dividends are recognised as a liability when approved by the Annual General Meeting. Other external expenses Other external expenses include expenses for operation and administration.Income statement Gross profit/loss The company has decided to aggregate certain items of the income statement in accordance with the provisions of Section 32 of the Danish Financial Statements Act. Gross profit or loss comprises revenue and other external expenses. Revenue Revenue from the sale of electricity is recognised in the income statement when delivery is made to the grid company. Revenue is recognised net of VAT, duties and sales discounts and is measured at fair value of the consideration fixed. Other external expenses Other external expenses include expenses for operation and administration. Depreciation, amortisation and impairment of tangible assets Depreciation, amortisation and impairment losses relating to property, plant and equipment comprise depreciation, amortisation and impairment losses for the financial year, calculated on the basis of the residual values and useful lives of the individual assets and impairment testing as well as gains and losses from the sale of property, plant and equipment. Financial expenses Financial expenses comprise interest expenses, including interest expenses on payables to group enterprises, amortisation of financial liabilities, payables and transactions in foreign currencies as well as fair value adjustments of financial interests. Off-balance sheet items Contingent liabilities comprise obligations that arise from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not fully within the control of the company; or present obligations that arise from past events but are not recognised because the outflow of resources embodying economic benefits will probably not be required to settle the obligation or because the amount of the obligation cannot be measured with sufficient reliability. Lease commitments are measured at the nominal value of the remaining lease payments. , Financial liabilities are recognised initially at the proceeds received net of transaction expenses incurred. In subsequent periods, financial liabilities are measured at amortised cost, corresponding to the capitalised value using the effective interest method, so that the difference between the proceeds and the nominal value is recognised in the Income Statement over the life of the financial instrument. Mortgage debt is accordingly measured at amortised cost, corresponding to the outstanding balance in case of cash loans. In case of bond loans, amortised cost corresponds to the outstanding balance determined as the underlying cash value of the loans at the time of borrowing adjusted for amortisation of capital losses on the loans over the repayment period. Other liabilities, comprising deposits, trade payables and other accounts payable, are measured at amortised cost, which usually corresponds to the nominal value. , Liabilities Financial liabilities are recognised initially at the proceeds received net of transaction expenses incurred. In subsequent periods, financial liabilities are measured at amortised cost, corresponding to the capitalised value using the effective interest method, so that the difference between the proceeds and the nominal value is recognised in the Income Statement over the life of the financial instrument. Mortgage debt is accordingly measured at amortised cost, corresponding to the outstanding balance in case of cash loans. In case of bond loans, amortised cost corresponds to the outstanding balance determined as the underlying cash value of the loans at the time of borrowing adjusted for amortisation of capital losses on the loans over the repayment period. Other liabilities, comprising deposits, trade payables and other accounts payable, are measured at amortised cost, which usually corresponds to the nominal value. Property, plant and equipment Solar parks and property 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. Interest expenses on loans for the manufacturing of property, plant and equipment are included in cost if they relate to the manufacturing period. All other financial expenses are recognised in the income statement. The present value of the expected costs of dismantling a solar park after the end of its useful life (asset retirement obligations) is included in the cost of the solar park. The basis of depreciation is cost less estimated residual value after the end of useful life. The useful life and residual value are reassessed anually. Straight-line depreciation is made on the basis of the following estimated useful lives of the assets: Solar parks: 30 years Items of property, plant and equipment are written down to the lower of recoverable amount and carrying amount. Provisions Asset retirement obligations comprise the present value of the estimated expenses related to the retirement of solar plants at the end of their useful life. The provision is determined by discounting expected future cash flows. 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. Provisions are measured at net realisable value or at fair value if the obligation is expected to be settled far into the future. Receivables Receivables are measured at amortised cost, usually equalling nominal value, less writedowns for bad and doubtful debts. Impairment of accounts receivables past due is established on individual assessment of receivables. , Impairment of accounts receivables past due is established on individual assessment of receivables. Revenue Revenue from the sale of electricity is recognised in the income statement when delivery is made to the grid company. Revenue is recognised net of VAT, duties and sales discounts and is measured at fair value of the consideration fixed. Reporting class The annual report of BE 22 P/S for 2024 has been prepared in accordance with the provisions of the Danish Financial Statements Act applying to enterprises of reporting class B with addition of certain provisions for reporting class C. The accounting policies applied remain unchanged from last year. Reporting currency The annual report is presented in Danish kroner (DKK). Recognition and measurement Assets 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 company, and the value of the assets can be measured reliably. Liabilities are recognised in the balance sheet when the company 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 company, and the value of the liabilities can be measured reliably. On initial recognition, assets and liabilities are measured at cost. Measurement subsequent to initial recognition is affected 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. Foreign currency translation On initial recognition, foreign currency transactions are translated applying the exchange rate at the transaction date. Receivables, payables and other monetary items denominated in foreign currencies that have not been settled at the balance sheet date are translated using the exchange rate at the balance sheet date. Exchange differences that arise between the rate at the transaction date and the one in effect at the payment date or the rate at the balance sheet date are recognised in the income statement as financial income or financial expenses. Property, plant and equipment, intangible assets, inventories and other non-monetary assets that have been purchased in foreign currencies are translated using historical rates. Income statement Gross profit/loss The company has decided to aggregate certain items of the income statement in accordance with the provisions of Section 32 of the Danish Financial Statements Act. Gross profit or loss comprises revenue and other external expenses. Revenue Revenue from the sale of electricity is recognised in the income statement when delivery is made to the grid company. Revenue is recognised net of VAT, duties and sales discounts and is measured at fair value of the consideration fixed. Other external expenses Other external expenses include expenses for operation and administration. Depreciation, amortisation and impairment of tangible assets Depreciation, amortisation and impairment losses relating to property, plant and equipment comprise depreciation, amortisation and impairment losses for the financial year, calculated on the basis of the residual values and useful lives of the individual assets and impairment testing as well as gains and losses from the sale of property, plant and equipment. Financial expenses Financial expenses comprise interest expenses, including interest expenses on payables to group enterprises, amortisation of financial liabilities, payables and transactions in foreign currencies as well as fair value adjustments of financial interests. Balance sheet Property, plant and equipment Solar parks and property 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. Interest expenses on loans for the manufacturing of property, plant and equipment are included in cost if they relate to the manufacturing period. All other financial expenses are recognised in the income statement. The present value of the expected costs of dismantling a solar park after the end of its useful life (asset retirement obligations) is included in the cost of the solar park. The basis of depreciation is cost less estimated residual value after the end of useful life. The useful life and residual value are reassessed anually. Straight-line depreciation is made on the basis of the following estimated useful lives of the assets: Solar parks: 30 years Items of property, plant and equipment are written down to the lower of recoverable amount and carrying amount. Current assets Receivables Receivables are measured at amortised cost, usually equalling nominal value, less writedowns for bad and doubtful debts. Impairment of accounts receivables past due is established on individual assessment of receivables. Prepayments Prepayments recognised in assets comprises prepaid costs regarding subsequent financial years. Cash and cash equivalents Cash and cash equivalents comprise cash. Equity Proposed dividends Proposed dividends for the year are recognised as a separate item under equity. Proposed dividends are recognised as a liability when approved by the Annual General Meeting. Provisions Asset retirement obligations comprise the present value of the estimated expenses related to the retirement of solar plants at the end of their useful life. The provision is determined by discounting expected future cash flows. 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. Provisions are measured at net realisable value or at fair value if the obligation is expected to be settled far into the future. Liabilities Financial liabilities are recognised initially at the proceeds received net of transaction expenses incurred. In subsequent periods, financial liabilities are measured at amortised cost, corresponding to the capitalised value using the effective interest method, so that the difference between the proceeds and the nominal value is recognised in the Income Statement over the life of the financial instrument. Mortgage debt is accordingly measured at amortised cost, corresponding to the outstanding balance in case of cash loans. In case of bond loans, amortised cost corresponds to the outstanding balance determined as the underlying cash value of the loans at the time of borrowing adjusted for amortisation of capital losses on the loans over the repayment period. Other liabilities, comprising deposits, trade payables and other accounts payable, are measured at amortised cost, which usually corresponds to the nominal value. Off-balance sheet items Contingent liabilities comprise obligations that arise from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not fully within the control of the company; or present obligations that arise from past events but are not recognised because the outflow of resources embodying economic benefits will probably not be required to settle the obligation or because the amount of the obligation cannot be measured with sufficient reliability. Lease commitments are measured at the nominal value of the remaining lease payments. Contributed Retained capital earnings Total Equity 1 January 2024 500,000 15,038,262 15,538,262 Profit (loss) 0 2,146,389 2,146,389 Equity 31 December 2024 500,000 17,184,651 17,684,651 7. Unrecognised rental and lease commitments 2024 2023 Liabilities under rental or lease agreements until maturity in total 1,335,863 1,440,863 3. Long-term liabilities other than provisions Due Due Due after 1 year within 1-5 years after 5 years Mortgage debt 19,454,536 11,044,703 8,409,833 Payables to group enterprises 4,363,938 0 4,363,938 23,818,474 11,044,703 12,773,771 5. Assets charged and collateral As security for the bank, there is a registered mortgage ban in the company's solar park. In addition, the bank has a right of entry as regards construction and maintenance agreements for the solar park as well as transport in payments from insurance and sale of electricity. Cash amounting to DKK 259.000 is deposited as security for reestablishment of land. 2024 2023 1. Financial expenses Financial expenses from group enterprises 249,892 237,190 Other financial expenses 549,399 591,628 Exchange rate losses 27,714 75,796 827,005 904,614 6. Group relations Name and registered office of the parent company preparing consolidated statements for the smallest group: Better Energy Holding A/S, Business Registration No. 31865883, Frederiksberg. 2. Solar parks Cost at the beginning of the year 52,971,065 53,338,335 Disposal for the year 0 -367,270 Cost at the end of the year 52,971,065 52,971,065 Depreciation at the beginning of the year -10,636,803 -8,870,115 Depreciations for the year -1,792,351 -1,766,688 Depreciations at the end of the year -12,429,154 -10,636,803 Carrying amount at the end of the year 40,541,911 42,334,262 4. Significant events occurring after end of reporting period No events have occurred after the balance sheet date to this date, which would influence the evaluation of this annual report. -150382621768465115538262-50000047657455508814The annual report of BE 22 P/S for 2024 has been prepared in accordance with the provisions of the Danish Financial Statements Act applying to enterprises of reporting class B with addition of certain provisions for reporting class C. 45522412463377102693631429919989194545362244134723818474265434134363938410206640541911423342628. Staff Cost The entity has no employees and the management has not received any remuneration. 827005904614574355887540541911423342622146389021463892837512214638928375122973394374212640541911423342629014478794599014478794591718465115038262false311784033765763002451300136312523944704111538937521350623388166-2146389-28375121850, Frederiksberg CGammel Kongevej 602014-09-042025-06-303620223845427420ÅrsrapportRasmus Lildholdt KjærBE 22 P/SBetter Energy Management A/S2023-01-012023-12-312024-12-312024-01-01The company's main activities The main activities of BE 22 P/S are directly or indirectly to acquire, own and operate solar parks as well as related activities. The company's main activities The main activities of BE 22 P/S are directly or indirectly to acquire, own and operate solar parks as well as related activities. 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 assets, liabilities and financial position of BE 22 P/S at 31 December 2024 and of the results of the company's operations for the financial year 1 January 2024 - 31 December 2024. 2025-06-30Today, the Executive Board and the Board of Directors have considered and adopted the annual report of BE 22 P/S for the financial year 1 January 2024 - 31 December 2024. In our opinion, the management's review includes a true and fair account of the matters addressed in the review. FrederiksbergWe recommend that the annual report be adopted at the Annual General Meeting. Today, the Executive Board and the Board of Directors have considered and adopted the annual report of BE 22 P/S for the financial year 1 January 2024 - 31 December 2024. 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 assets, liabilities and financial position of BE 22 P/S at 31 December 2024 and of the results of the company's operations for the financial year 1 January 2024 - 31 December 2024. In our opinion, the management's review includes a true and fair account of the matters addressed in the review. We recommend that the annual report be adopted at the Annual General Meeting. Frederiksberg, 30 June 2025 Executive Board Rasmus Lildholdt Kjær Man. Director Board of Directors Mark Augustenborg Ødum Rasmus Lildholdt Kjær Chairman Member