419703592024-01-012024-12-31419703592024-01-012024-12-311419703592024-01-012024-12-311419703592024-01-012024-12-312419703592024-01-012024-12-313419703592024-01-012024-12-314419703592024-01-012024-12-315419703592024-01-012024-12-311419703592024-01-012024-12-312419703592024-12-31419703592023-12-31fsa:ContributedCapitalMember419703592023-12-31fsa:RetainedEarningsMember419703592023-12-31419703592024-01-012024-12-31fsa:ContributedCapitalMember419703592024-01-012024-12-31fsa:RetainedEarningsMember419703592024-12-31fsa:ContributedCapitalMember419703592024-12-31fsa:RetainedEarningsMember419703592023-01-012023-12-31iso4217:DKKxbrli:pureThe Board of Directors and the Executive Board have today considered and approved the annual report of Yaak Technologies ApS for the financial year 01.01.2024 - 31.12.2024.2657245-134977The annual report is presented in accordance with the Danish Financial Statements Act.1555432864961In 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 - 31.12.2024.12768070We believe that the management commentary contains a fair review of the affairs and conditions referred to therein.-174994-999938We recommend the annual report for adoption at the Annual General Meeting.0-46476124Copenhagen054240Søren Halskov Nissen32735522Søren Halskov Nissen015737835Alexander Korre Viterbo-Horten448590471630Harsimrat Singh Sandhawalia-590849-63630765Eric Lagier-11098980Tim Oliver Bolte519049-63630765To the shareholders of Yaak Technologies ApS519049-63630765We have performed an extended review of the financial statements of Yaak Technologies ApS 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.
Based on our extended review, 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 extended review in accordance with the assurance engagement standard for small enterprises
as issued by the Danish Business Authority and the standard on extended review of financial statements
prepared in accordance with the Danish Financial Statements Act as issued by FSR - Danish Auditors.
Our responsibilities under those standards and requirements are further described in the ”Auditor’s responsibilities
for the extended review of the financial statements” section. 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 evidence we have obtained is
sufficient and appropriate to provide a basis for our conclusion.39145180Management 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, disclosing, as applicable, matters related to going concern, and using the going concern basis of accounting unless Management either intends to liquidate the Entity or to cease operations, or has
no realistic alternative but to do so.9824000Our responsibility is to express a conclusion on the financial statements. This requires that we plan and
perform procedures to obtain limited assurance about our conclusion on the financial statements and that
we also perform specifically required supplementary procedures for the purpose of obtaining additional assurance
about our conclusion.An extended review consists of making inquiries, primarily of Management and, if appropriate, of other entity
personnel, performing analytical and the specifically required supplementary procedures as well as evaluating
the evidence obtained.The procedures performed in an extended review are less in scope than in an audit, and accordingly we do
not express an audit opinion on the financial statements.1497910115097960Management is responsible for the management commentary.
Our conclusion 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 extended review 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 extended review 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
financial statements and has been prepared in accordance with the requirements in the relevant law and regulations. We did not identify any material misstatement of the management commentary.1655650506124850Aarhus6124850Anders Larsen5596060mne478185596060State Authorised Public Accountant177285960Jonas Thøstesen Svensson20277760mne4782413241810State Authorised Public Accountant42067914831Primary activitiesYaak builds developers tools and open-source foundation models that make it easier and faster for AI developers
to bring intelligence to robots. The platform simplifies the process for both experts and non-technical users,
allowing them to deploy, manage, and improve their robots effortlessly. At the heart of the product is a powerful
natural language interface that helps users curate datasets, train models, and deploy AI across robotics fleets—all
in one seamless workflow.
34462620Research and development activitiesAfter 5 years of development in a previous subsidiary, we started releasing the world largest multi-modal dataset
for self-driving, together with Huggingface.com (The world largest AI community and platform for hosting AI). In
addition, Yaak has launched Nutron for open beta testing. It's the first step of revolutionizing how developers can
use natural language to train, deploy and operate robots. Yaak has onboarded 15+ automotive OEM's, robotics
start-ups and AI research institutes to the open beta test of Nutron.
Yaak has a data collection fleet of 60 vehicles with experts on board. By end of 2026 Yaak will have expanded it's data
collection fleet to thousands of vehicles and will expand into new robotics verticals, such as agriculture, warehousing,
manufacturing and mining.
113030Events after the balance sheet dateNo other events have occurred after the balance sheet date to this date, which would influence the evaluation of
this annual report.723020114831This 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.5371617265951Consolidated financial statementsReferring to section 110 of the Danish Financial Statements Act,
no consolidated financial statements have been prepared.12601818280782Recognition 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.30330414280782Gross profit or lossGross profit or loss includes net sales, own work capitalised cost of sales and other external expenses.18312472124RevenueRevenue from the sale of services are recognized in the income statement when delivery to the buyer has taken place. Revenue is recognized excluding VAT, taxes and discounts associated with the sale and are measured at the fair value of the determined consideration. 19854912-12466667Own work capitalisedOwn work capitalised comprises staff costs recognised in
cost for proprietary intangible assets.20038036-12394543Cost of salesCost of sales comprises goods consumed in the financial year measured at cost, adjusted for normal
inventory writedowns.23363640Other external expensesOther external costs include costs that relate to the primary activities of the enterprise.23363640Staff costsStaff cost include salaries and wages, as well as social security costs, pensions, etc. for the company's employees.52163924984688Depreciation, amortisation and impairment lossesDepreciation, amortisation and impairment losses relating to property, plant and equipment and intangible
assets comprise depreciation, amortisation and impairment losses for the financial year.2983400Income from investments in group enterprisesIncome from investments in group enterprises comprises dividends etc. received from the
individual group enterprises in the financial year as well as depreciation due to bankruptcy.55147324984688Other financial income from group enterprisesOther financial income from group enterprises comprises interest income etc. on receivables from group
enterprises.Other financial incomeOther financial income comprises interest income, interest income on receivables from group enterprises, net capital or exchange gains on securities, payables and transactions in foreign currencies, amortisation of financial assets, and tax relief under the Danish Tax Prepayment Scheme etc.80597490909106480255Impairment 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.691969149642Other financial expensesOther financial costs consist of interest costs, including interest costs from financial liabilities.7365340Tax on profit/loss for the yearTax for the year, which consists of current tax for the year and changes in deferred tax, is recognised in the
income statement by the portion attributable to the profit for the year and recognised directly in equity by
the portion attributable to entries directly in equity.206805151649GoodwillGoodwill is calculated as the difference between cost of investments and fair value of the pro rata share of assets and liabilities acquired. Goodwill is amortised straight-line over its estimated useful life, which is fixed based on the experience gained by Management for each business area. The amortisation periods
used are 5 years.
Goodwill is written down to the lower of recoverable amount and carrying amount.Intellectual property rights etc.Intellectual property rights etc. comprise development projects completed and in progress with related
intellectual property rights, acquired intellectual property rights and prepayments for intangible assets.Development projects on clearly defined and identifiable products and processes, for which the technical rate
of utilisation, adequate resources and a potential future market or development opportunity in the enterprise
can be established, and where the intention is to manufacture, market or apply the product or process in
question, are recognised as intangible assets. Other development costs are recognised as costs in the income
statement as incurred. When recognising development projects as intangible assets, an amount equalling the costs incurred less deferred tax is taken to equity in the reserve for development costs that is reduced
as the development projects are amortised and written down.
The cost of development projects comprises costs such as salaries and amortisation that are directly and
indirectly attributable to the development projects.Completed development projects are amortised on a straight-line basis using their estimated useful lives
which are determined based on a specific assessment of each development project. If the useful life cannot
be estimated reliably, it is fixed at years. For development projects protected by intellectual property
rights, the maximum period of amortisation is the remaining duration of the relevant rights. The amortisation
periods used are 3 years. Intellectual property rights acquired are measured at cost less accumulated amortisation. Patents are
amortised on a straight-line basis over their remaining duration, and licences are amortised over the term of the agreement.
Intellectual property rights etc. are written down to the lower of recoverable amount and carrying amount.2441282769063779560141267532530330414280782Property, plant and equipmentOther fixtures and fittings, tools and equipment are
measured at cost less accumulated depreciation and impairment losses. Land is not depreciated.
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.
The basis of depreciation is cost less estimated residual value after the end of useful life. Straight-line
depreciation is made on the basis of the following estimated useful lives of the assets:Useful life
Other fixtures and fittings, tools and equipment2 - 3 yearsEstimated useful lives and residual values are reassessed annually.
Items of property, plant and equipment are written down to the lower of recoverable amount and carrying
amount.721241Investments in group enterprisesInvestments in group enterprises are measured at cost. Investments are written down to the
lower of recoverable amount and carrying amount.-12466667ReceivablesReceivables are measured at amortised cost, usually equalling nominal value less writedowns for bad and
doubtful debts.Tax payable or receivableCurrent tax payable or receivable is recognised in the balance sheet, stated as tax computed on this year's
taxable income, adjusted for prepaid tax.10078925324486PrepaymentsPrepayments comprise incurred costs relating to subsequent financial years. Prepayments are measured at
cost.25425275CashCash comprises cash in hand and bank deposits.10211Deferred taxDeferred tax is recognised on all temporary differences between the carrying amount and the tax-based
value of assets and liabilities, for which the tax-based value is calculated based on the planned use of each asset. However, no deferred tax is recognised for amortisation of
goodwill disallowed for tax purposes and temporary differences arising at the date of acquisition that do not result from a business combination and that do not have any effect on profit or loss or on taxable income.
Deferred tax assets, including the tax base of tax loss carryforwards, are recognised in the balance sheet at
their estimated realisable value, either as a set-off against deferred tax liabilities or as net tax assets.6478044Other financial liabilitiesOther financial liabilities are measured at amortised cost, which usually corresponds to nominal value.6488255true519049Grundlag for konklusionKonklusion1831242025-04-04198549122025-04-04true1 Staff costs2024
DKK2023
DKKWages and salaries1,542,822862,500Other social security costs12,6102,4611,555,432864,961Average number of full-time employees213396355622023-01-012 Depreciation, amortisation and impairment losses2024
DKK2023
DKKAmortisation of intangible assets994,0780Depreciation of property, plant and equipment282,72901,276,80702023-12-313 Tax on profit/loss for the year2024
DKK2023
DKKCurrent tax(3,446,262)0Change in deferred tax2,336,3640(1,109,898)0Aarhus C4 Intangible assetsCompleted development projects
DKKAcquired intangible assets
DKKGoodwill
DKKDevelopment projects in progress
DKKAdditions4,403,8331,453,406183,54811,509,796Cost end of year4,403,8331,453,406183,54811,509,796Amortisation for the year(489,315)(471,006)(33,757)0Amortisation and impairment losses end of year(489,315)(471,006)(33,757)0Carrying amount end of year3,914,518982,400149,79111,509,79680005 Development projectsYaak builds developers tools and open-source foundation models that make it easier and faster for AI developers to bring intelligence to robots. The platform simplifies the process for both experts and non-technical users, allowing them to deploy, manage, and improve their robots effortlessly. At the heart of the product is a powerful natural language interface that helps users curate datasets, train models, and deploy AI across robotics fleets—all
in one seamless workflow.
After 5 years of development in a previous subsidiary, we started releasing the world largest multi-modal dataset for self-driving, together with Huggingface.com (The world largest AI community and platform for hosting AI). In addition, Yaak has launched Nutron for open beta testing. It's the first step of revolutionizing how developers can use natural language to train, deploy and operate robots. Yaak has onboarded 15+ automotive OEM's, robotics start-ups and AI research institutes to the open beta test of Nutron.
Yaak has a data collection fleet of 60 vehicles, with experts on board. In 2025 and 2026 Yaak will expand it's data collection fleet to +2.000 vehicles and will expand into new robotics verticals, such as agriculture, warehousing, manufacturing and mining.
2City Tower, Værkmestergade6 Property, plant and equipmentOther fixtures and fittings, tools and equipment
DKKAdditions895,214Cost end of year895,214Depreciation for the year(282,729)Depreciation and impairment losses end of year(282,729)Carrying amount end of year612,485Deloitte Statsautoriseret Revisionspartnerselskab7 Financial assetsInvestments in group enterprises
DKKAdditions559,606Cost end of year559,606Carrying amount end of year559,606Investments in subsidiariesRegistered inCorporate formEquity
interest
%Yaak AI GmbH Berlin, DEGmbH100.00Univerge GmbHBerlin, DEGmbH100.00Yaafin Technologies GmbHBerlin, DEGmbH100.00København8 Non-current liabilities other than provisionsDue within 12 months
2024DKKDue within 12
months
2023DKKDue after more than 12 months2024DKKDebt to other credit institutions805,974909,0915,216,392Convertible and dividend-yielding debt instruments00298,340805,974909,0915,514,732No debt is to be paid more than 5 years from the balance date.København K1432Regnskabsklasse BErklæring om udvidet gennemgang2024-12-312024-01-01138LuftmarinegadeYaak Technologies ApS41970359339635562300 København SWeidekampsgade 6Deloitte Statsautoriseret RevisionspartnerselskabÅrsrapport2025-04-04Alexander Korre Viterbo-Horten