364160092024-01-012024-12-31364160092024-01-012024-12-311364160092024-01-012024-12-312364160092024-01-012024-12-311364160092024-12-31364160092023-12-31fsa:ContributedCapitalMember364160092023-12-31fsa:UnpaidContributedCapitalMember364160092023-12-31fsa:RetainedEarningsMember364160092023-12-31fsa:ProposedExtraordinaryDividendRecognisedInEquityMember364160092023-12-31364160092024-01-012024-12-31fsa:ContributedCapitalMember364160092024-01-012024-12-31fsa:UnpaidContributedCapitalMember364160092024-01-012024-12-31fsa:RetainedEarningsMember364160092024-01-012024-12-31fsa:ProposedExtraordinaryDividendRecognisedInEquityMember364160092024-12-31fsa:ContributedCapitalMember364160092024-12-31fsa:UnpaidContributedCapitalMember364160092024-12-31fsa:RetainedEarningsMember364160092024-12-31fsa:ProposedExtraordinaryDividendRecognisedInEquityMember364160092023-01-012023-12-31iso4217:DKKThe Executive Board has today considered and approved the annual report of CIV II 2014 K/S for the financial year 01.01.2024 - 31.12.2024. -303000-173000The annual report is presented in accordance with the Danish Financial Statements Act.9363600086225000In 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 - 31.12.2024.629000429000We believe that the management commentary contains a fair review of the affairs and conditions referred to therein.30440001774000We recommend the annual report for adoption at the Annual General Meeting.1000011000Copenhagen9090800084696000Erik Banner Voigt912540000Simon Kjær087060000To the shareholders of CIV II 2014 K/S-346000-2364000We have audited the financial statements of CIV II 2014 K/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.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.02178000Management 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.28320001772000Our 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.3344000460900001397000Management 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 of the Danish Financial ​Statements Act. We did not identify any material misstatement of the management commentary.6176000995600061760009956000Copenhagen086000Bill Haudal Pedersen0233000mne301310319000State Authorised Public Accountant127720002181000Primary activitiesThe Entity's main activity is to generate income and capital appreciation by making investments in infrastructure assets.127720002500000Events 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.1894800012456000This annual report has been presented in accordance with the provisions of the Danish Financial Statements Act governing reporting class B enterprises with addition of a few provisions for reporting class C.The accounting policies applied to these financial statements are consistent with those applied last year.Reporting currency is Danish kroner (DKK).2374600022372000Reporting currency is Danish kroner (DKK).Contributed capital in arrearsContributed capital in arrears consists of capital subscribed, but not paid up, which is recognised as a separate amount receivable in assets and a separate reserve in equity (gross method). The amount receivable is measured at amortised cost.0232000Recognition 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-11483000-11137000Foreign currency translationOn 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 rate 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. 1226300011467000Gross profit or lossGross profit or loss comprises other external expenses.0132000Other external expensesOther external expenses include expenses relating to the Entity's ordinary activities.65970000Income from investments in participating interestsIncome from investments in participating interests comprises gains in the form of interest, dividends, etc. received from the individual participating interests in the financial year.88000857000Other financial incomeOther financial income comprises interest income and exchange rate adjustments.6685000989000Impairment losses on financial assetsImpairment losses on financial assets comprise impairment losses on financial assets which are not measured at fair value on a current basis.6685000989000Other financial expensesOther financial expenses comprise interest expenses, bank charges and exchange rate adjustments. 1894800012456000Investments in group enterprisesInvestments in group enterprises are measured at cost. Investments are written down to the lower of recoverable amount and carrying amount.Investments in participating interestsInvestments in participating interests are measured at cost. Investments are written down to the lower of recoverable amount and carrying amount.22372000232000ReceivablesReceivables are measured at amortised cost, usually equalling nominal value, less writedowns for bad and doubtful debts. -111370000CashCash comprises cash in bank deposits.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.1374000Other financial liabilitiesOther financial liabilities are measured at amortised cost, which usually corresponds to nominal value.-232000true0Grundlag for konklusion1142000Konklusion02025-04-10912540002025-04-1091254000true-3460002023-01-01912540002023-12-313396355623746000København S02300-1148300060WeidekampsgadeDeloitte Statsautoriseret RevisionspartnerselskabThere are special dividend rights attached to specific share classes. The contributed capital for the Entity is divided into the share classes A-R.Copenhagen1 EmployeesThe Entity has no employees. The Management has not received remunerations.Nordhavn2 Contingent liabilitiesThe Entity has provided guarantees of DKK 1,936 thousand. There are no other guarantees or contingent liabilities of the Entity.2150Regnskabsklasse BRevisionspåtegning2024-12-312024-01-011218GdanskgadeCIV II 2014 K/S36416009339635562300 København SWeidekampsgade 6Deloitte Statsautoriseret RevisionspartnerselskabÅrsrapport2025-04-30Amalie Nørgaard