16987735 2024-12-31 16987735 2023-12-31 16987735 2024-01-01 fsa:ContributedCapitalMember 16987735 2024-01-01 fsa:RetainedEarningsMember 16987735 2024-01-01 fsa:ProposedDividendRecognisedInEquityMember 16987735 2024-12-31 fsa:ContributedCapitalMember 16987735 2024-12-31 fsa:RetainedEarningsMember 16987735 2024-12-31 fsa:ProposedDividendRecognisedInEquityMember 16987735 2024-01-01 fsa:AcquiredOtherSimilarRightsMember 16987735 2024-12-31 fsa:AcquiredOtherSimilarRightsMember 16987735 2024-01-01 fsa:FixturesFittingsToolsAndEquipmentMember 16987735 2024-01-01 fsa:LeaseholdImprovementsMember 16987735 2024-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 16987735 2024-12-31 fsa:LeaseholdImprovementsMember 16987735 2024-01-01 2024-12-31 16987735 2024-01-01 2024-12-31 1 16987735 2024-01-01 2024-12-31 memberOfBoardIdentifier_executive_board_1 16987735 2024-01-01 2024-12-31 memberOfBoardIdentifier_board_of_director_1 16987735 2024-01-01 2024-12-31 memberOfBoardIdentifier_board_of_director_2 16987735 2024-01-01 2024-12-31 memberOfBoardIdentifier_board_of_director_3 16987735 2024-01-01 2024-12-31 2 16987735 2023-01-01 2023-12-31 16987735 2024-01-01 2024-12-31 fsa:ContributedCapitalMember 16987735 2024-01-01 2024-12-31 fsa:RetainedEarningsMember 16987735 2024-01-01 2024-12-31 fsa:ProposedDividendRecognisedInEquityMember 16987735 2024-01-01 2024-12-31 fsa:AcquiredOtherSimilarRightsMember 16987735 2024-01-01 2024-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 16987735 2024-01-01 2024-12-31 fsa:LeaseholdImprovementsMember iso4217:DKK pure Årsrapport 33771231 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Strandvejen 44 2900 Hellerup 2024-01-01 2023-01-01 2024-12-31 2023-12-31 16987735 Pointsharp A/S Kongens Nytorv 8,3 1050 København K København PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab 33771231 Strandvejen 44 2900 Hellerup Denmark 39 45 39 45 koebenhavn@pwc.dk 2025-07-04 Niklas Brask Regnskabsklasse B Erklæring om udvidet gennemgang The Executive Board and Board of Directors have today considered and adopted the Annual Report of Pointsharp A/S for the financial year 1 January - 31 December 2024. The Annual Report is prepared in accordance with the Danish Financial Statements Act. In our opinion the Financial Statements give a true and fair view of the financial position at 31 December 2024 of the Company and of the results of the Company operations for 2024. In our opinion, 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. 2025-07-04 Copenhagen Niklas Brask CEO Wessel Ploegmakers Chairman Philipp Latini Niklas Brask To the shareholder of Pointsharp A/S Opinion We have performed an extended review of the Financial Statements of Pointsharp A/S for the financial year 1 January - 31 December 2024, which comprise 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. Based on the work performed, in our opinion, the Financial Statements give a true and fair view of the financial position of the Company at 31 December 2024 and of the results of the Company´s operations for the financial year 1 January - 31 December 2024 in accordance with the Danish Financial Statements Act. Basis for Opinion We conducted our extended review in accordance with the Danish Business Authority´s Assurance Standard for Small Enterprises and FSR – Danish Auditors´ standard on extended review of financial statements prepared in accordance with the Danish Financial Statements Act. Our responsibilities under those standards and requirements are further described in the ”Practitioner´s responsibilities for the extended review 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 evidence we have obtained is sufficient and appropriate to provide a basis for our conclusion. 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 responsibility is to express a conclusion on the Financial Statements. This requires that we plan and perform procedures to obtain limited assurance in respect of our conclusion on the Financial Statements and, moreover, that we perform supplementary procedures specifically required to obtain additional assurance in respect of our conclusion. An extended review consists of making inquiries, primarily of Management and others within the enterprise, as appropriate, and applying analytical procedures and the supplementary procedures specifically required as well as assessing the evidence obtained. An extended review is less in scope than an audit and, consequently, we do not express an audit opinion on the Financial Statements. Hellerup 2025-07-04 PricewaterhouseCoopers Statsautoriseret Revisionspartnerselskab Kaare von Cappeln State Authorised Public Accountant mne11629 James Liang State Authorised Public Accountant mne34549 Key activities In the fiscal year 2023, the company continued its strategy to establish itself as ISV (Independent Software Vendor) with a focus on sales and implementation of the standard product 2ndC Compliance Suite for both the IT and line functions of our customers aswell as integration all fuctions in the international Group. Development in the year The income statement of the Company for 2024 shows a loss of DKK 5,524,273, and at 31 December 2024 the balance sheet of the Company shows a positive equity of DKK 117,228. Significant changes in activities and financial conditions during the year With accounting effect as of 1 January 2024, the sister-company Compliance Suite ApS and parent company Sivis Holding ApS were merged by a tax-exempt merger with Pointsharp A/S in June 2024. In the first step of the process, Sivis Compliance ApS was merged into its parent company, Sivis Holding ApS, with Sivis Holding ApS as continuing company. Subsequently, Sivis Holding ApS was merged into Pointsharp A/S, with Pointsharp A/S as continuing company. During the financial year, the Company experienced a significant reduction in its business scope. This strategic downsizing was primarily driven by market conditions, internal restructuring initiatives aimed at focusing on core operations, and individual impairment of receivables. As a direct result of the decreased business activities, the Company recorded a net loss of DKK 5.5 million for the year.The Company continues to evaluate its operational strategy to ensure future sustainability and is taking appropriate measures to optimize cost structures and maintain long-term viability. Going concern Please refer to disclosure 1. Subsequent events No events materially affecting the assessment of the Annual Report have occurred after the balance sheet date. 9485861 20524172 13586981 13075496 1354363 1903706 -5455483 5544970 104043 98774 124759 506 -5476199 5643238 48074 1323547 -5524273 4319691 0 2800000 -5524273 1519691 861112 2032222 861112 2032222 82441 229805 36722 0 119163 229805 611603 599809 611603 599809 1591878 2861836 10634839 8598449 0 444129 0 2601374 0 48074 58787 62923 10693626 11754949 263369 1605128 10956995 13360077 12548873 16221913 1333000 1333000 -1215772 3808501 0 2800000 117228 7941501 2670174 1502650 0 113915 5007792 950000 0 1228272 1358179 2507940 3395500 1977635 12431645 8280412 12431645 8280412 12548873 16221913 1333000 3808501 2800000 0 0 2800000 0 500000 0 0 -5524273 0 1333000 -1215772 0 At year-end 2024, the company has current assets amounting to DKK 11.0 million and short-term liabilities totalling DKK 12.4 million. Furthermore, the equity amounts to DKK 0.1 million, and the company has lost over 50% of its share capital. Therefore, the company is subject to the capital loss provisions according to the Danish Company Act. We expect the share capital to be reestablished through its own operations or by a group contribution. In a letter of support, Pointsharp International AB has declared that it will provide support to the company so that the company is able to continue its operations and pay its obligations until the time where the annual report for Pointsharp A/S for 2025 is approved by the general meeting and published. Based on this, the Financial Statements for 2024 are prepared on the assumption on going concern. 11920180 11448773 1511223 1478174 155578 148549 13586981 13075496 18 17 99779 94572 4264 4202 104043 98774 97867 0 26892 506 124759 506 0 1394272 48074 0 0 -70725 48074 1323547 10656675 10656675 8624453 1171110 9795563 861112 413866 957699 80316 0 40117 447937 454065 509762 334149 807613 69886 113364 -32411 -447937 371624 473040 82441 36722 Selling price of work in progress 0 444129 Payments received on account 0 -113915 Total 0 330214 Recognised in the balance sheet as follows: Contract work in progress recognised in assets 0 444129 Prepayments received recognised in debt 0 -113915 Total 0 330214 Deferred tax asset at 1 January 48074 -91777 Amounts recognised in the income statement for the year -48074 139851 Deferred tax asset at 31 December 0 48074 Rental and lease obligations Lease obligations under operating leases. Total future lease payments: Within 1 year 306235 203416 Between 1 and 5 years 108000 180235 Total 414235 383651 Consolidated Financial Statements The Company's parent company that prepares Consolidated Financial Statements into which Pointsharp A/S is incorporated as a subsidiary is Pointsharp International AB. The Consolidated Financial Statements can be received by the following address: Name Place of registered office Pointsharp International AB Uddvägen 7, Stockholm, 131 54 Nacka, Sverige The Annual Report of Pointsharp A/S for 2024 has been prepared in accordance with the provisions of the Danish Financial Statements Act applying to enterprises of reporting class B as well as selected rules applying to reporting class C. The accounting policies applied remain unchanged from last year. The Financial Statements for 2024 are presented in DKK. **Business Combination through Merger**The merger has been accounted for using the consolidation method, whereby assets and liabilities are recognised at carrying amounts with no recognition of goodwill. Any goodwill or other intangible assets recognized in the consolidated financial statements prior to the merger will continue to be recognized in the continuing entity after the merger. These values are carried forward without revaluation unless impaired. Comparative figures for prior financial years are adjusted to reflect the merger, ensuring that financial statements are presented on a consistent basis for comparison. true 1 Revenues are recognised in the income statement as earned. Furthermore, value adjustments of financial assets and liabilities measured at fair value or amortised cost are recognised. Moreover, all expenses incurred to achieve the earnings for the year are recognised in the income statement, including depreciation, amortisation, impairment losses and provisions as well as reversals due to changed accounting estimates of amounts that have previously been recognised in the income statement. Assets are recognised in the balance sheet when it is probable that future economic benefits attributable to the asset will flow to the Company, and the value of the asset can be measured reliably. Liabilities are recognised in the balance sheet when it is probable that future economic benefits will flow out of the Company, and the value of the liability can be measured reliably. Assets and liabilities are initially measured at cost. Subsequently, assets and liabilities are measured as described for each item below. Transactions in foreign currencies are translated at the exchange rates at the dates of transaction. Gains and losses arising due to differences between the transaction date rates and the rates at the dates of payment are recognised in financial income and expenses in the income statement. Receivables, payables and other monetary items in foreign currencies that have not been settled at the balance sheet date are translated at the exchange rates at the balance sheet date. Any differences between the exchange rates at the balance sheet date and the rates at the time when the receivable or the debt arose are recognised in financial income and expenses in the income statement. Revenue from the sale of services is recognised when the risks and rewards relating to the services sold have been transferred to the purchaser, the revenue can be measured reliably and it is probable that the economic benefits relating to the sale will flow to the Company. Contract work in progress (construction contracts) is recognised at the rate of completion, which means that revenue equals the selling price of the work completed for the year (percentage-of-completion method). This method is applied when total revenues and expenses in respect of the contract and the stage of completion at the balance sheet date can be measured reliably, and it is probable that the economic benefits, including payments, will flow to the Company. The stage of completion is determined on the basis of the ratio between the expenses incurred and the total expected expenses of the contract. Services are recognised at the rate of completion of the service to which the contract relates by using the percentage-of-completion method, which means that revenue equals the selling price of the service completed for the year. This method is applied when total revenues and expenses in respect of the service and the stage of completion at the balance sheet date can be measured reliably, and it is probable that the economic benefits, including payments, will flow to the Company. The stage of completion is determined on the basis of the ratio between the expenses incurred and the total expected expenses of the service. Revenue is measured at the consideration received and is recognised exclusive of VAT and net of discounts relating to sales. **Cost of services sold**Cost of services sold comprise the purchase price etc. for services sold in the year. Other external expenses comprise expenses for premises, sales as well as office expenses, etc. With reference to section 32 of the Danish Financial Statements Act, gross profit/loss is calculated as a summary of revenue, cost of goods sold and other external expenses. Staff costs include wages and salaries including compensated absence and pensions as well as other social security contributions etc. made to the entity's employees. Amortisation, depreciation and impairment losses comprise amortisation, depreciation and impairment of intangible assets and property, plant and equipment. Financial income and expenses are recognised in the income statement at the amounts relating to the financial year. Tax for the year consists of current tax for the year and changes in deferred tax for the year. The tax attributable to the profit for the year is recognised in the income statement, whereas the tax attributable to equity transactions is recognised directly in equity. Patents and licences are measured at the lower of cost less accumulated amortisation and recoverable amount. Patents are amortised over the remaining patent period, and licences are amortised over the licence period; however not exceeding year. Property, plant and equipment are measured at cost less accumulated depreciation and less any accumulated impairment losses. Cost comprises the cost of acquisition and expenses directly related to the acquisition up until the time when the asset is ready for use. Interest expenses on loans contracted directly for financing the construction of property, plant and equipment are recognised in cost over the construction period. Depreciation based on cost reduced by any residual value is calculated on a straight-line basis over the expected useful lives of the assets, which are: Other fixtures and fittings, tools and equipment 0 years Leasehold improvements 0 years The fixed assets’ residual values are determined at nil. Depreciation period and residual value are reassessed annually. The carrying amounts of intangible assets and property, plant and equipment and investments are reviewed on an annual basis to determine whether there is any indication of impairment other than that expressed by amortisation and depreciation. If so, the asset is written down to its lower recoverable amount. Other fixed asset investments consist of receivables (fixed assets). Receivables are measured in the balance sheet at the lower of amortised cost and net realisable value, which corresponds to nominal value less provisions for bad debts. Provisions for bad debts are determined on the basis of an individual assessment of each receivable, and in respect of trade receivables, a general provision is also made based on the Company´s experience from previous years. Contract work in progress is measured at selling price of the work performed calculated on the basis of the stage of completion. The stage of completion is measured by the proportion that the contract expenses incurred to date bear to the estimated total contract expenses. Where it is probable that total contract expenses will exceed total revenues from a contract, the expected loss is recognised as an expense in the income statement. Where the selling price cannot be measured reliably, the selling price is measured at the lower of expenses incurred and net realisable value. Payments received on account are set off against the selling price. The individual contracts are classified as receivables when the net selling price is positive and as liabilities when the net selling price is negative. Expenses relating to sales work and the winning of contracts are recognised in the income statement as incurred. Prepayments comprise prepaid expenses concerning rent, insurance premiums, subscriptions and interest. Dividend distribution proposed by Management for the year is disclosed as a separate Dividend item. Deferred income tax is measured using the balance sheet liability method in respect of temporary differences arising between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes on the basis of the intended use of the asset and settlement of the liability, respectively. Deferred tax assets, including the tax base of tax loss carry-forwards, are measured at the value at which the asset is expected to be realised, either by elimination in tax on future earnings or by set-off against deferred tax liabilities within the same legal tax entity. Deferred tax is measured on the basis of the tax rules and tax rates that will be effective under the legislation at the balance sheet date when the deferred tax is expected to crystallise as current tax. Any changes in deferred tax due to changes to tax rates are recognised in the income statement or in equity if the deferred tax relates to items recognised in equity. Debts are measured at amortised cost, substantially corresponding to nominal value. Deferred income comprises payments received in respect of income in subsequent years.