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for konklusionKonklusion2022-01-012022-12-312021-01-012021-12-312023-05-042023-05-04Ballerup2023-04-19SvendborgJens Morten HansenJohan GrothMichael Jensby JakobsenStatsautoriseret revisorStatsautoriseret revisormne11630mne342903548617835486178RevisionsFirmaet EdelboRevisionsFirmaet EdelboKogtvedparkenKogtvedparken171757005700SvendborgSvendborgDanmarkDanmarkDKDK35486178RevisionsFirmaet EdelboKogtvedparken 175700 SvendborgRegnskabsklasse C, stor virksomhedfalse32466249EPICO-IT A/SBorupvang2 C2750BallerupDanmarkDK13211811395Michelle MarkCharlotte ThomassenRené Lindegaard Klint OlsenDirektørJesper Wadum NielsenChristian Van Roon ThomsenJens Morten HansenDirektionen og bestyrelsen har dags dato behandlet og godkendt årsrapporten for regnskabsåret 1. januar - 31. december 2022 for EPICO-IT A/S. The Excutive and supervisory Boards have today considered and adopted the Annual Report of EPICO-IT A/S for the financial year 1 January - 31 December 2022. Årsrapporten er aflagt i overensstemmelse med årsregnskabsloven. The Annual Report is prepared in accordance with the Danish Financial Statements Act. Det er vores opfattelse, at koncernregnskabet og årsregnskabet giver et retvisende billede af koncernens og sel- skabets aktiver, passiver og finansielle stilling pr. 31. december 2022 samt af resultatet af koncernens og selskabets aktiviteter og pengestrømme for regnskabsåret 1. januar - 31. december 2022. In our opinion, the Financial Statements and the Consolidated Financial Statement give a true and fair view of the financial position at 31 December 2022 of the Company and the Group and of the results af the Company and Group operations and cash flows for the financial year 1 January - 31 December 2022. Ledelsesberetningen indeholder efter vores opfattelse en retvisende redegørelse for de forhold, beretningen omhandler. In our opinion, the Management's Review contains a fair review of the issues covered in the Report. Årsrapporten indstilles til generalforsamlingens godkendelse. The Annual Report is submitted for adoption by the General Meeting.Til kapitalejerne i EPICO-IT A/S To the Shareholders of EPICO-IT A/S Vi har revideret koncernregnskabet og årsregnskabet for EPICO-IT A/S for regnskabsåret 1. januar – 31. december 2022, der omfatter resultatopgørelse, balance, egenkapitalopgørelse og noter, herunder anvendt regnskabs- praksis for såvel koncernen som selskabet samt pengestrømsopgørelse for koncernen. Koncernregnskabet og årsregnskabet udarbejdes efter årsregnskabsloven. We have audited the Consolidated Financial Statements and the Parent Company Financial Statements of EPICO-IT A/S for the financial year 1 January - 31 December 2022, which comprise income statement, balance sheet, statement of changes in equity and notes, including a summary of significant accounting policies, for both the Group and the Parent Company, as well as consolidated statement of cash flows. The Consolidated Financial Statements and the Parent Company Financial Statements are prepared under the Danish Financial Statements Act. Det er vores opfattelse, at koncernregnskabet og årsregnskabet giver et retvisende billede af koncernens og selskabets aktiver, passiver og finansielle stilling pr. 31. december 2022 samt af resultatet af koncernens og selskabets aktiviteter og koncernens pengestrømme for regnskabsåret 1. januar – 31. december 2022 i overensstemmelse med årsregnskabsloven. In our opinion, the Consolidated Financial Statements and the Parent Company Financial Statements give a true and fair view of the financial position of the Group and the Parent Company at 31 December 2022, and of the results of the Group and Parent Company operations as well as the consolidated cash flows for the financial year 1 January - 31 December 2022 in accordance with the Danish Financial Statements Act.Vi har udført vores revision i overensstemmelse med internationale standarder om revision og de yderligere krav, der er gældende i Danmark. Vores ansvar ifølge disse standarder og krav er nærmere beskrevet i revisionspåtegningens afsnit "Revisors ansvar for revisionen af årsregnskabet". Vi er uafhængige af selskabet i overensstemmelse med International Ethics Standards Board for Accountants' internationale retningslinjer for revisorers etiske adfærd (IESBA Code) og de yderligere etiske krav, der er gældende i Danmark, ligesom vi har opfyldt vores øvrige etiske forpligtelser i henhold til disse krav og IESBA Code. Det er vores opfattelse, at det opnåede revisionsbevis er tilstrækkeligt og egnet som grundlag for vores konklusion. 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 Consolidated Financial Statements and the Parent Company Financial Statements” section of our report. We are independent of the Group in accordance with the International Ethics Standards Board for Accountants’ Code of Ethics for Professional Accountants (IESBA Code) and the additional requirements applicable in Denmark, and we have fulfilled our other ethical responsibilities in accordance with these rules and requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.Ledelsen har ansvaret for udarbejdelsen af et koncernregnskab og et årsregnskab, der giver et retvisende billede i overensstemmelse med årsregnskabsloven. Ledelsen har endvidere ansvaret for den interne kontrol, som ledelsen anser for nødvendig for at udarbejde et koncernregnskab og et årsregnskab uden væsentlig fejlinformation, uanset om denne skyldes besvigelser eller fejl. Management is responsible for the preparation of Consolidated Financial Statements and Parent Company 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 Consolidated Financial Statements and Parent Company Financial Statements that are free from material misstatement, whether due to fraud or error. Ved udarbejdelsen af koncernregnskabet og årsregnskabet er ledelsen ansvarlig for at vurdere koncernen og selskabets evne til at fortsætte driften; at oplyse om forhold vedrørende fortsat drift, hvor dette er relevant; samt at udarbejde koncernregnskabet og årsregnskabet på grundlag af regnskabsprincippet om fortsat drift, medmindre ledelsen enten har til hensigt at likvidere koncernen eller selskabet, indstille driften eller ikke har andet realistisk alternativ end at gøre dette. In preparing the Consolidated Financial Statements and the Parent Company Financial Statements, Management is responsible for assessing the Group’s and the Parent 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 Consolidated Financial Statements and the Parent Company Financial Statements unless Management either intends to liquidate the Group or the Company or to cease operations, or has no realistic alternative but to do so. Vores mål er at opnå høj grad af sikkerhed for, om koncernregnskabet og årsregnskabet som helhed er uden væsentlig fejlinformation, uanset om denne skyldes besvigelser eller fejl, og at afgive en revisionspåtegning med en konklusion. Høj grad af sikkerhed er et højt niveau af sikkerhed, men er ikke en garanti for, at en revision, der udføres i overensstemmelse med internationale standarder om revision og de yderligere krav, der er gældende i Danmark, altid vil afdække væsentlig fejlinformation, når sådan findes. Fejlinformationer kan opstå som følge af besvigelser eller fejl og kan betragtes som væsentlige, hvis det med rimelighed kan forventes, at de enkeltvis eller samlet har indflydelse på de økonomiske be- slutninger, som regnskabsbrugerne træffer på grundlag af koncernregnskabet og årsregnskabet. Our objectives are to obtain reasonable assurance about whether the Consolidated Financial Statements and the Parent Company 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 of accounting information taken on the basis of these Consolidated Financial Statements and Parent Company Financial Statements. Som led i en revision, der udføres i overensstemmelse med internationale standarder om revision og de yderligere krav, der er gældende i Danmark, foretager vi faglige vurderinger og opretholder professionel skepsis under revisionen. Herudover: As part of an audit conducted in accordance with ISAs and the additional requirements applicable in Denmark, we exercise professional judgment and maintain professional skepticism throughout the audit. We also: 4 - Identificerer og vurderer vi risikoen for væsentlig fejlinformation i koncernregnskabet og årsregnskabet, uanset om denne skyldes besvigelser eller fejl, udformer og udfører revisionshandlinger som reaktion på disse risici samt opnår revisionsbevis, der er tilstrækkeligt og egnet til at danne grundlag for vores konklusion. Risikoen for ikke at opdage væsentlig fejlinformation forårsaget af besvigelser er højere end ved væsentlig fejlinformation forårsaget af fejl, idet besvigelser kan omfatte sammensværgelser, dokumentfalsk, bevidste udeladelser, vildledning eller tilsidesættelse af intern kontrol. - Identify and assess the risks of material misstatement of the Consolidated Financial Statements and the Parent Company 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. - Opnår vi forståelse af den interne kontrol med relevans for revisionen for at kunne udforme revisionshandlinger, der er passende efter omstændighederne, men ikke for at kunne udtrykke en konklusion om effektiviteten af koncernens og selskabets interne kontrol. - 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 Group’s and the Parent Company’s internal control. - Tager vi stilling til, om den regnskabspraksis, som er anvendt af ledelsen, er passende, samt om de regnskabsmæssige skøn og tilknyttede oplysninger, som ledelsen har udarbejdet, er rimelige. - Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by Management. - Konkluderer vi, om ledelsens udarbejdelse af koncernregnskabet og årsregnskabet på grundlag af regnskabsprincippet om fortsat drift er passende, samt om der på grundlag af det opnåede revisionsbevis er væsentlig usikkerhed forbundet med begivenheder eller forhold, der kan skabe betydelig tvivl om koncernens og selskabets evne til at fortsætte driften. Hvis vi konkluderer, at der er en væsentlig usikkerhed, skal vi i vores revisionspåtegning gøre opmærksom på oplysninger herom i koncernregnskabet og årsregnskabet eller, hvis sådanne oplysninger ikke er tilstrækkelige, modificere vores konklusion. Vores konklusioner er baseret på det revisionsbevis, der er opnået frem til datoen for vores revisionspåtegning. Fremtidige begivenheder eller forhold kan dog medføre, at selskabet ikke længere kan fortsætte driften. - Conclude on the appropriateness of Management’s use of the going concern basis of accounting in preparing the Consolidated Financial Statements and the Parent Company 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 Group’s and the Parent 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 Consolidated Financial Statements and the Parent Company 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 Group and the Company to cease to continue as a going concern. - Tager vi stilling til den samlede præsentation, struktur og indhold af koncernregnskabet og årsregnskabet, herunder noteoplysningerne, samt om koncernregnskabet og årsregnskabet afspejler de underliggende transaktioner og begivenheder på en sådan måde, at der gives et retvisende billede heraf. - Evaluate the overall presentation, structure and contents of the Consolidated Financial Statements and the Parent Company Financial Statements, including the disclosures, and whether the Consolidated Financial Statements and the Parent Company Financial Statements represent the underlying transactions and events in a manner that gives a true and fair view. - Opnår vi tilstrækkeligt og egnet revisionsbevis for de finansielle oplysninger for virksomhederne eller forretnings- aktiviteterne i koncernen til brug for at udtrykke en konklusion om koncernregnskabet. Vi er ansvarlige for at lede, føre tilsyn med og udføre koncernrevisionen. Vi er eneansvarlige for vores revisionskonklusion. - Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the Consolidated Financial Statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion. 5 Vi kommunikerer med den øverste ledelse om blandt andet det planlagte omfang og den tidsmæssige placering af revisionen samt betydelige revisionsmæssige observationer, herunder eventuelle betydelige mangler i intern kontrol, som vi identificerer under revisionen. We communicate with those charged with governance regarding, among other mat-ters, 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. Udtalelse om ledelsesberetningen Statement on Management’s Review Ledelsen er ansvarlig for ledelsesberetningen. Management is responsible for Management’s Review. Vores konklusion om koncernregnskabet og årsregnskabet omfatter ikke ledelsesberetningen, og vi udtrykker ingen form for konklusion med sikkerhed om ledelsesberetningen. Our opinion on the Consolidated Financial Statements and the Parent Company Financial Statements does not cover Management’s Review, and we do not express any form of assurance conclusion thereon. I tilknytning til vores revision af koncernregnskabet og årsregnskabet er det vores ansvar at læse ledelsesberetningen og i den forbindelse overveje, om ledelsesberetningen er væsentligt inkonsistent med koncernregnskabet eller årsregnskabet eller vores viden opnået ved revisionen eller på anden måde synes at indeholde væsentlig fejlinformation. In connection with our audit of the Consolidated Financial Statements and the Parent Company Financial Statements, our responsibility is to read Management’s Review and, in doing so, consider whether Management’s Review is materially inconsistent with the Consolidated Financial Statements or the Parent Company Financial Statements or our knowledge obtained during the audit, or otherwise appears to be materially misstated. Vores ansvar er derudover at overveje, om ledelsesberetningen indeholder krævede oplysninger i henhold til års - regnskabsloven. Moreover, it is our responsibility to consider whether Management’s Review provides the information required under the Danish Financial Statements Act. Baseret på det udførte arbejde er det vores opfattelse, at ledelsesberetningen er i overensstemmelse med koncern- regnskabet og årsregnskabet og er udarbejdet i overensstemmelse med årsregnskabslovens krav. Vi har ikke fundet væsentlig fejlinformation i ledelsesberetningen. Based on the work we have performed, we conclude that Management’s Review is in accordance with the Consolidated Financial Statements and the Parent Company Financial Statements and has been prepared in accordance with the requirements of the Danish Financial Statement Act. We did not identify any material misstatement of Management’s Review.EPICO-IT Group er en privatejet virksomhed med hovedkontor i Ballerup, Storkøbenhavn. Koncernen har datterselskaber i Sverige, Norge og Polen. EPICO-IT Group is a privately owned company with headquarters in Ballerup, Greater Copenhagen. The group has subsidiaries in Sweden, Norway and Poland EPICO-IT Group er et af de hurtigst voksende IT-konsu- lenthuse i Danmark og har en ledende position inden for identificering, kvalificering og levering af de rette IT-kon- sulenter til stats-, kommune-, og erhvervssegmentet i Norden og dele af Europa. EPICO-IT Group har en årlig omsætning på 717.610.023 DKK og administrerer over 600 konsulenter på kontrakt. EPICO-IT Group is one of the fastest growing IT consul- tancies in Denmark and has a leading position in identi- fying, qualifying, and delivering the right IT consultants to the public, municipal, and business segments in the Nordics and parts of Europe. EPICO-IT Group has an annual turnover of DKK 717.610.023 and manages over 600 consultants on contract. EPICO-IT Groups vision er at være den foretrukne og mest betroede IT-partner globalt, for at sikre vores partnere, nutidens og fremtidens udvikling inden for IT. EPICO-IT Group's vision is to be the preferred and most trusted IT partner globally, to ensure our partners, present and future developments within IT. EPICO-IT Groups mission er at være på forkant med IT-udviklingen således, at vi kan sikre det rette match mellem konsulenter og virksomheder. Det sikrer vi ved at have indgående kendskab til, og forståelse, for vores partnere. På baggrund af vores kerneforretning af freelance IT-konsulenter samt vores specialistområder, understøtter vi virksomheders strategiske mål. Vi identificerer, kvalificerer og leverer den helt rette konsulent for at sikre vores kunders succes. EPICO-IT Groups' kunder består af erhvervslivet og det offentlige. Vi er en IT-sparringspartner og betroet rådgiver til vores kunder. Det er fortsat vores formål at understøtte kunder og partnere ved at tage aktiv del i deres IT set-up samt at følge trends i den globale udvikling inden for vores forretningsområde. EPICO-IT Group's mission is to be at the forefront of IT development so that we can ensure the right match between consultants and companies. We ensure this by having in-depth knowledge and understanding of our partners. Based on our core business of freelance IT consultants as well as our specialist areas, we support companies' strategic goals. We identify, qualify, and deliver the right consultant to ensure our customers' success. EPICO-IT Groups customers consist of the private and the public sector. We are an IT counseling partner and trusted advisor to our customers. It remains our goal to support customers and partners by taking an active part in their IT set-up and by following trends in global development within our core business.Koncernens omsætning er i 2022 steget til 717.610.023 DKK mod 618.486.374 DKK året før. Stigningen er primært sket, som følge af vækst på det danske og svenske marked. The Group’s revenue in 2022 increased to DKK 717.610.023 compared to DKK 618.486.374 the previous year. The increase is primarily due to growth in the Danish and Swedish market Årets resultat er efter skat på 14.953.330 DKK mod 14.443.417 DKK, et resultat, der betragtes som tilfredsstillende i et marked, som har været påvirket af dels følge- virkningerne forårsaget af COVID-19 pandemien samt Ruslands invasion af Ukraine, som har medført et marked præget af usikkerhed i form af rentestigninger og inflation. Årets resultat er som forventet sidste år. The profit after tax for the year is DKK 14.952.330 compared to DKK 14.443.416, a result considered satisfactory in a market that has been affected by both the aftermath of the COVID-19 pandemic and Russia’s invasion of Ukraine, which has led to a market characterized by uncertainty in the form of rising interest rates and inflation. Koncernen har haft i årets haft et øget fokus på tværorganisatorisk samarbejde og transparens med udgangspunkt i vores værdier. Dette strategiske fokusskifte har haft en positiv indvirkning på forretningen og sikrer at EPICO-IT Group vækster omsætning i 2022. Dette er takket være en stærk og motivet organisation samt at organisationen i Danmark er yderst konkurrencedygtig i markedet og tager essentielle markedsandele. The group has this year had an increased focus on cross-organisational cooperation and transparency based on our values. This strategic shift in focus has had a positive impact on the business and ensures that EPICO-IT Group grows revenue in 2022. This is thanks to a strong and motivated organization and the fact that the organization in Denmark is extremely competitive in the market and takes essential market shares. 11 Som et led i dette er Michelle Mark i december 2022 udpeget som ny CEO for Epico-IT A/S, ligesom Charlotte Thomassen er ny COO, sammen skal i direktion fortsætte det strategiske fokus og fortsætte den vækst der gør at man blandt andet i 2022 af Computer World blev kåret til årets vækstmæssige højdespringer. CEO of EPICO-IT A/S in December 2022, and Charlotte Thomassen is the new COO, who together with the executive board, will continue the strategic focus and growth that led to being named ‘the growth high jumper’ company of the year by Computer World in 2022.EPICO IT A/S har som politik, at begge køn skal have lige muligheder for karriere. Ansættelse af nye medarbejdere og valg til ledelsesposter sker udelukkende på baggrund af de respektive kandidaters kvalifikationer i forhold til den ledige position. EPICO-IT A/S has a policy that both genders should have equal opportunities for career advancement. Hiring of new employees and selection for management positions is solely based on the respective candidate’s qualifications in relation to the available position. Fakta ved udgangen af regnskabsåret 2022 er, at bestyrelsen består af 3 mænd, hvilket svarer til 100% repræsentation af mænd. As of the end of the financial year 2022, the board of directors consists of 3 men, which corresponds to 100% male representation Bestyrelsen er repræsenteret gennem ejerne Jens Morten Hansen, Christian Van Roon Thomsen samt ekstern professionel bestyrelsesformand Jesper Wadum Nielsen. Ingen af disse parter har til hensigt i nær fremtid at ændre på deres ejerforhold. Bestyrelsen anerkender, at en mere ligelig fordeling blandt kønnene kan have en gunstig indvirkning på arbejdet i bestyrelsen og i virksomheden. EPICO har en målsætning om, at begge køn er repræsenteret i bestyrelsen inden for en overskuelig fremtid. Bestyrelsens måltal er 1 kvinde ved udgangen af 2026. The board is represented by the owners Jens Morten Hansen, Christian Van Roon Thomsen, and external professional board chairman Jesper Wadum Nielsen. Neither of these parties intends to change their ownership in the near future. The board recognizes that a more equal distribution between the sexes can have a favorable impact on the work by the board and in the company. It is the goal of the company to have both sexes represented on the board within a foreseeable future. The board’s target number is 1 woman by the end of 2026. DK Management består af 2 kvinder samt en mand, hvortil manden tiltræder i det kommende regnskabsår. Dermed udgør kvinder 67% af DK Management. DK Teamledergruppen består af 3 mænd, mens 7 kvinder udgør resten af Teamledergruppen. Fordelingen er dermed 70% repræsentation af kvinder. DK Management consists of 2 women and 1 man. The man will join the DK management Group in the upcoming financial year. Women thus make up 67% of DK Management. The DK Team Leader Group consists of 3 men, while 7 women make up for the remaining Team Leader Group. The distribution is thus 70% representation of women.FORVENTNINGER TIL FREMTIDEN The expected development EPICO-IT Group forventer at fortsætte momentum fra 2022. Koncernen forventer dermed at sikre en omsætning og et resultat for 2023, der vil ligge over 2022 med et forventet resultat i niveau med 15-20 mio. DKK. EPICO-IT Group expects to continue the momentum from 2022. The Group thus expects to achieve a turnover and a result for 2023 that will exceed the 2022, with an expected profit at the level of DKK 15-20 million DKK. Det er forventningen at verdensøkonomien fortsat er præget af en turbulent periode under primært som følge af virkninger af krigen i Ukraine, hvilket vil påvirke konjunkturudviklingen i 2023. It is expected that the world economy will continue to be characterized by a turbulent period during, primarily as a result of the effects of the war in Ukraine, which will affect economic development in 2023. EPICO-IT Group oplever dog vedvarende efterspørgsel efter vores konsulentydelser, hvorfor denne efterspørgsel forventes ligeledes aktuel i 2023. Øget konkurrence og træge udbud påvirker dog EPICO-IT Groups forretning. Vi forventer at efterspørgslen ikke matcher det faldende udbud af kompetente IT-konsulenter, hvorfor det forventeligt kan blive en større udfordring at kunne levere højkvalificerede konsulentydelser. However, EPICO-IT Group experiences continuous demand for our consulting services, which is why this demand is also expected to be current in 2023. Increased competition and sluggish supply, however, affect EPICO-IT Group's business. We expect that the demand will not match the decreasing supply of competent IT consultants, which is why it can be expected to be a greater challenge to be able to deliver highly qualified consulting services. Omsætningsfremgangen forventes primært realiseret gennem den eksisterende forretning og den nuværende geografiske tilstedeværelse. Samtidig forventes det at regnskabsåret 2023 potentielt kan byde på etableringer i nye markeder for EPICO-IT Group. Dette er med henblik på at understøtte vores kunders fortsatte udvikling og vækst. EPICO-IT Groups strategiske fokus er fortsat at styrke kerneforretningen inden for freelance IT-konsulentydelser samt at optimere driften parallelt med, der tages nye strategiske skridt for at bestyrke udviklingen af organisationen globalt. The increase in revenue is expected to be realized primarily through the existing business and the current geographical presence. At the same time, it is expected that the financial year 2023 could potentially offer establishments in new markets for EPICO-IT Group. This is to support our customers' continued development and growth. EPICO-IT Group's strategic focus is to continue to strengthen the core business within freelance IT consulting services and to optimize operations in parallel with taking new strategic steps to strengthen the development of the organization globally. Det forventes at EPICO-IT Groups strategiske fokus forefindes yderligere i form af udvikling af det svenske samt det polske marked. Yderligere ønskes en udbygning og styrkelse af koncernens danske forretningsområder; EPICO Search, EPICO NextGen samt EPICO-IT Groups strategiske erobring af det offentlige marked med forretningsområdet; EPICO Public. It is expected that EPICO-IT Group's strategic focus will further be found in the form of development of the Swedish and Polish markets. Furthermore, an expansion and strengthening of the group's Danish business areas is desired; EPICO Search, EPICO NextGen and EPICO-IT Group's strategic conquest of the public market with the business area; EPICO Public. For nærværende er EPICO-IT Group er ikke afvisende over for potentielle opkøb og andre investeringer i virksomheder. For now, EPICO-IT Group is not averse to potential acquisitions and other investments in companies. EPICO-IT Group har påbegyndt en styrkelse af organisationen, processer samt implementering af ny virksomhedsplatform i 2022. Dette forventes at fortsætte i regnskabsåret 2023 samt 2024, hvilket forventes at påvirke resultatet i 2023 negativt. Det vurderes, at disse investeringer vil have en positiv effekt på regnskabsåret 2024 samt 2025. EPICO-IT Group has begun a strengthening of the organization, processes and implementation of a new business platform in 2022. This is expected to continue in the financial year 2023 and 2024, which is expected to affect the result in 2023 negatively. It is estimated that these investments will have a positive effect on the financial years 2024 and 2025. 12 VIDENRESSOURCER Knowledge resources Koncernens forretningsgrundlag består i at identificere, kvalificere og levere de helt rette IT-konsulenter. Koncernens DNA er omdrejningspunktet for en faglig stærk og kvalificeret medarbejderstab. Der har i årets løb været stor tilgang af kompetente og erfarne faste medarbejderne, som har styrket koncernen viden- og kompetencemæssigt. Dette har været en medvirkende årsag til koncernens vækst globalt. Yderligere investeres der i disse år i interne processer, udvikling af medarbejderstaben, kompetenceudvikling, samt nye digitale processer og systemer, som skal være medvirkende til EPICO-IT Groups ledende position i Norden samt dele af EU. The group's business foundation consists of identifying, qualifying and delivering the right IT consultants. The group's DNA is the focal point for a professionally strong and qualified staff. During the year, there has been a large influx of competent and experienced permanent employees, who have strengthened the group in terms of knowledge and competence. This has been a contributing factor to the group's growth globally. In addition, investments are being made in these years in internal processes, development of the staff, competence development, as well as new digital processes and systems, which will contribute to EPICO-IT Group's leading position in the Nordics and parts of the EU. Det er en betingelse for EPICO-IT Groups fortsatte vækst, at vi kan fastholde, tiltrække, og udvikle kvalificerede medarbejdere samt fastholde, tiltrække, og udvikle de dygtigste konsulenter på markederne hvori koncernen opererer. Således sikre et højt kompetenceniveau samt produktydelse, hvilket stemmer overens med EPICO-IT Groups værdisæt; Ekspertise, tillid, personlig relation og åbenhed. It is a condition for EPICO-IT Group's continued growth that we can retain, attract and develop qualified employees as well as retain, attract and develop the most skilled consultants in the markets in which the group operates. Thus ensuring a high level of competence and product performance, which is in line with EPICO-IT Group's value set; Expertise, trust, personal relationship and openness. En kompetent og uforlignelig arbejdsplads, som besidder gode sociale forhold for medarbejdere, er et væsentligt fokusområde for koncernen. A competent and incomparable workplace, which has good social conditions for employees, is an important focus area for the group. EPICO-IT Groups DNA danner fundamentet for forretningen: EPICO-IT Group's DNA forms the foundation for the business: Kulturen og kerneværdierne danner fundamentet for EPICO-IT Groups DNA. Vores kultur er præget af, at vi tror på mennesker, og giver plads til alle identiteter, personligheder og holdninger. For os er høj moral og positiv energi er vigtigt, hvorfor vi går op i at alle medarbejdere går fløjtende til og fra arbejde. Vi er ikke bange for at skabe nye ukonventionelle aktiviteter og tiltag, og det er dette mindset vi møder vores partnere med. Vi sætter en ære i at lære vores kunder og konsulenter at kende, så vi kan levere et match på mere end et fagligt plan, fordi vi ved hvor meget personlige relationer betyder for samarbejdet. Vi værner om vores faglighed inden for IT, og vi vægter altid at interagere med højeste grad af åbenhed og ærlighed, da vi ønsker det bedste resultat for vores partnere. Derfor er vi din ekspert og agile samarbejdspartner. Dette definerer måden, vi arbejder i organisationen på tværs af afdelinger og specialistområder - på den måde er vi bundet sammen til ONE EPICO. Det er vores DNA. Det er EPICO-IT Group. The culture and core values form the foundation for EPICO-IT Group's DNA. Our culture is characterized by the fact that we believe in people, and makes room for all identities, personalities and attitudes. For us, high morale and positive energy are important, which is why we insist that all employees go to and from work whistling. We are not afraid to create new unconventional activities and initiatives, and this is the mindset we meet our partners with. We take pride in getting to know our customers and consultants, so that we can deliver a match on more than a professional level, because we know how much personal relationships mean to collaboration. We cherish our professionalism in IT, and we always value interacting with the highest degree of openness and honesty, as we want the best result for our partners. That is why we are your expert and agile business partner. This defines the way we work in the organization across departments and specialist areas - in this way we are bound together to ONE EPICO. It's our DNA. It is EPICO-IT Group. SÆRLIGE RISICI Special risk Som koncern med aktivitet på udenlandske markeder er det en naturlig del af forrentningen af der kan ske valutaudsving, et område hvor verdensøkonomien og de store udsving i renter og inflation daglig giver store udsving i visse valuta. Som koncern fortages der løbende overvågning af dette og fokus er på at minimere risici løbende. As a group with activity in foreign markets, it is a natural part of the returns that currency fluctuations can occur, an area where the world economy and the large fluctuations in interest rates and inflation daily cause large fluctuations in certain currencies. As a group, this is continuously monitored and the focus is on minimizing risks on an ongoing basis. 13 SAMFUNDSANSVAR Corporate social responsibility EPICO-IT Group er aktiv signatory-medlem ved UN Glo- bal Compact, hvilket man har været siden 2017. Med sit medlemskab rapporterer koncernen årligt på dets ’Com- munication on Progress’, inden for UN Global Compacts ti principper; menneskerettigheder, arbejdstagerrettigheder, miljø samt antikorruption. Herved kommunikerer koncernen, hvorledes der tages ansvar inden for principperne samt fremskridt og nye tiltag herom. Koncernen er stolt medlem af det brede netværk, bestående af mere end 15.000 virksomheder i over 162 lande, som ønsker at påvirke den kollektive indvirkning på ovenstående. EPICO-IT Group is an active Signatory member of the UN Global Compact, which it has been since 2017. Through its membership, the Group reports annually on its “Communication on Progress” within the UN Global Compact’s ten principles; human rights, labor rights, environment, and anti-corruption. In doing so, the Group communicates how it takes responsibility for these principles and any progress or new initiatives regarding them. The Group is a proud member of the broad network consist- ing of over 15,000 companies in more than 162 countries, which aim to influence the collective impact on the above-mentioned principles. UN Global Compacts mission er at mobilisere en global bevægelse af ansvarlige virksomheder med det formål at skabe en bedre verden. Det gør UN Global Compact med udgangspunkt i de ti grundlæggende principper, som alle virksomheder tilsluttet Global Compact forpligter sig til at efterleve. Principperne giver en fælles etisk og praktisk ramme for virksomhedsansvar og er baseret på internationale konventioner og aftaler. The mission of the UN Global Compact is to mobilize a global movement of responsible companies with the aim of creating a better world. The UN Global Compact does this based on the ten basic principles that all companies affiliated to the Global Compact undertake to comply with. The principles provide a common ethical and practical framework for corporate responsibility and are based on international conventions and agreements. Principperne er baseret på FN's Menneskerettighedserklæring, ILO's grundlæggende konventioner om menneskerettigheder på arbejdspladsen, Rio-erklæringen og FN's konvention mod korruption. The principles are based on the UN Declaration of Human Rights, the ILO's fundamental conventions on human rights at work, the Rio Declaration and the UN Convention against Corruption. Med koncernen medlemskab bestræber EPICO-IT Groups efter forretningsdrevet samfundsansvar til gavn for både samfund og virksomheder. With group membership, EPICO-IT Groups strives for business-driven social responsibility for the benefit of both society and companies. Koncernen ønsker at udvikle sin kerneforretning og møde sine strategiske udfordringer på en økonomisk og samfundsmæssig forsvarlig måde. Koncernens langsigtede strategi om fortsat vækst vil skabe arbejdspladser og økonomisk aktivitet i de lande, EPICO-IT Group er repræsenteret. The group wants to develop its core business and meet its strategic challenges in an economically and socially sound manner. The group's long-term strategy of continued growth will create jobs and economic activity in the countries EPICO-IT Group is represented. Med forankring i virksomhedens strategi, er det desuden en integreret del af ledelsens roller og ansvar at foretage en løbende vurdering af risici og relevante kommende initiativer indenfor samfundsansvarlig. Anchored in the company's strategy, it is also an integral part of the management's roles and responsibilities to carry out an ongoing assessment of risks and relevant future initiatives within social responsibility Som en ledende aktør inden for IT-konsulentbranchen, er det koncernens hensigt at stræbe efter at tage socialt, miljømæssigt og økonomisk ansvar. Koncernen har derfor et øget fokus på CSR, hvorfor der arbejdes med CSR-relaterede initiativer, som har til formål at styrke dette fokus. Koncernen ønsker aktivt at bidrage til FN’s 17 verdensmål. As a leading player in the IT consulting industry, the group’s intention is to strive to take social, environmental, and economic responsibility. The Group, therefore, has an increased focus on CSR-related initiatives aimed at strengthening this focus. The Group actively seeks to con- tribute to the UN’s 17 Sustainable Development Goals. Yderligere er det koncernens ønske at bidrage samfundsansvarligt, hvorfor virksomheden i nærværende samt kommende regnskabsår har valgt at støtte Coding Pirates med en årlig donation. En nonprofitorganisation, der arbejder for at fremme IT-kreativitet og teknologiforståelse hos børn. Furthermore, it is the group's desire to contribute socially responsibly, which is why the company has chosen to support Coding Pirates with an annual donation in the current and future financial years. A non-profit organization that works to promote IT creativity and technological understanding in children. 14 Årligt donerer koncernen til et velgørende formål såsom Cykelnerven eller lign. Koncernen har valgt i DK at afholde 'Charity Day', hvilket indebærer at alle medarbejder arbejder for en humanitær organisation med betalt løn. Annually, the group donates to a charitable purpose such as Cykelnerven or similar. The group has chosen to hold 'Charity Day' in DK, which means that all employees work for a humanitarian organization with a paid salary. Det er koncerns hensigt løbende at arbejde med 'Code of Conduct' processer for de kommende regnskabsår. It is the group's intention to continuously work with 'Code of Conduct' processes for the coming financial years Koncernen er miljøbevidst og arbejder løbende på at reducere miljøpåvirkningerne fra virksomhedens drift. The Group is environmentally conscious and continuously works to reduce the environmental impact of its operations. Koncernen arbejder efter, at gældende lovning overholdes i forhold til antikorruption og arbejdsmiljø samt sikkerhed i de respektive lande. The Group operates in compliance with applicable laws in relation to anti-corruption and the work environment, as well as safety in the respective countries. For yderligere information vedrørende politikker, handlinger og resultater henvises der til virksomhedens CoP-rapport: For further information regarding policies, actions and outcomes, please refer to the company’s CoP report: https://epico.dk/om-epico/csr. MÅL OG POLITIKKER FOR DET UNDERREPRÆSENTEREDE KØN Goals and policies for the under-represented gender EPICO IT A/S har som politik, at begge køn skal have lige muligheder for karriere. Ansættelse af nye medarbejdere og valg til ledelsesposter sker udelukkende på baggrund af de respektive kandidaters kvalifikationer i forhold til den ledige position. EPICO-IT A/S has a policy that both genders should have equal opportunities for career advancement. Hiring of new employees and selection for management positions is solely based on the respective candidate’s qualifications in relation to the available position. Fakta ved udgangen af regnskabsåret 2022 er, at bestyrelsen består af 3 mænd, hvilket svarer til 100% repræsentation af mænd. As of the end of the financial year 2022, the board of directors consists of 3 men, which corresponds to 100% male representation Bestyrelsen er repræsenteret gennem ejerne Jens Morten Hansen, Christian Van Roon Thomsen samt ekstern professionel bestyrelsesformand Jesper Wadum Nielsen. Ingen af disse parter har til hensigt i nær fremtid at ændre på deres ejerforhold. Bestyrelsen anerkender, at en mere ligelig fordeling blandt kønnene kan have en gunstig indvirkning på arbejdet i bestyrelsen og i virksomheden. EPICO har en målsætning om, at begge køn er repræsenteret i bestyrelsen inden for en overskuelig fremtid. Bestyrelsens måltal er 1 kvinde ved udgangen af 2026. The board is represented by the owners Jens Morten Hansen, Christian Van Roon Thomsen, and external professional board chairman Jesper Wadum Nielsen. Neither of these parties intends to change their ownership in the near future. The board recognizes that a more equal distribution between the sexes can have a favorable impact on the work by the board and in the company. It is the goal of the company to have both sexes represented on the board within a foreseeable future. The board’s target number is 1 woman by the end of 2026. DK Management består af 2 kvinder samt en mand, hvortil manden tiltræder i det kommende regnskabsår. Dermed udgør kvinder 67% af DK Management. DK Teamledergruppen består af 3 mænd, mens 7 kvinder udgør resten af Teamledergruppen. Fordelingen er dermed 70% repræsentation af kvinder. DK Management consists of 2 women and 1 man. The man will join the DK management Group in the upcoming financial year. Women thus make up 67% of DK Management. The DK Team Leader Group consists of 3 men, while 7 women make up for the remaining Team Leader Group. The distribution is thus 70% representation of women. MENNESKERETTIGHEDER Human rights EPICO-IT Group vedkender sit sociale ansvar ikke alene i relation til egne medarbejdere, men også i relation til konsulenter og støtter derfor op og respekterer de internationalt anerkendte menneskerettigheder, som formuleret i FN's Menneskerettighedserklæring samt den internationale arbejdsorganisations (ILO) kernekonventioner. EPICO-IT Group acknowledges its social responsibility not only in relation to its own employees, but also in relation to consultants and therefore supports and respects the internationally recognized human rights, as formulated in the UN Declaration of Human Rights and the core conventions of the International Labor Organization (ILO). 15 I EPICO-IT Group er vi forpligtet til at opretholde grundlæggende menneskerettigheder for alle vores medarbejdere og konsulenter, og vi stræber efter at sikre, at vi ikke indgår i forretning med nogen klient, partner eller leverandør, der ikke opretholder disse grundlæggende menneskerettigheder. EPICO-IT Group stræber løbende efter at leve op til FN’s Global Compact initiativ inden for dets ti principper At EPICO-IT Group, we are committed to upholding basic human rights for all our employees and consultants, and we strive to ensure that we do not engage in business with any client, partner, or supplier that does not uphold these basic human rights. EPICO-IT Group continuously aims to comply with the UN’s Global Compact initiative within its ten principles. Alle medarbejdere i EPICO-IT Group, samt alle freelancekonsulenter, tilbydes kontrakter, der sikrer grundlæggende menneskerettigheder globalt. All employees in EPICO-IT Group, as well as all freelance consultants, are offered contracts that ensure basic human rights globally. REDEGØRELSE FOR VIRKSOMHEDENS POLITIK FOR DATAETIK Statement of the company's policy on data ethics EPICO-IT Group samarbejder med virksomheden Comply Cloud, som rådgiver og behandler virksomhedens brug af data, politikker samt dataetik. Dette samarbejde omfatter koncernen globalt. EPICO-IT Group collaborates with the company Comply Cloud, which advises and processes the company's use of data, policies and data ethics. This collaboration covers the group globally. Dog har koncernen ikke fastsat en specifik politik for dataetik på egen hånd, men vi arbejder ikke med kunstig intelligens og algoritmer om kunde- og konsulentadfærd for nuværende. However, the group has not set a specific policy for data ethics on its own, but we do not currently work with artificial intelligence and algorithms on customer and consultant behavior. USIKKERHEDER VED INDREGNING OG MÅLING Uncertainty about recognition and measurement Efter ledelsens opfattelse eksisterer der ikke konkrete usikkerheder eller usædvanlige forhold, der påvirker indregningen og målingen i årsregnskabet. In management's opinion, no specific uncertainty or unusual relations exit which influence the recognition and the measurement in the annual accounts. BEGIVENHEDER EFTER REGNSKABSÅRETS AFSLUTNING Events after the end of the financial year Der har ikke indtruffet væsentlige nye hændelser efter regnskabsårets afslutning. No significant new events have occurred after the end of the financial year.Årsregnskabet for EPICO-IT A/S for regnskabsåret 1. januar - 31. december 2022 er aflagt i overensstemmelse med årsregnskabslovens bestemmelser for en stor klasse C-virksomhed. The Annual Accounts for EPICO-IT A/S for the year 2022 has been prepared in accordance with the regulations in the Danish Financial Statements Act regulations concerning reporting class C enterprises (large enterprises). Årsregnskabet er aflagt efter samme regnskabspraksis som sidste år. The Accounting policies applied remain unchanged from the previous year.I resultatopgørelsen indregnes indtægter i takt med, at de indtjenes, herunder indregnes værdireguleringer af finansielle aktiver og forpligtelser. I resultatopgørelsen indregnes ligeledes alle omkostninger, herunder afskrivninger og nedskrivninger. Income is recognised in the profit and loss account when it is earned, including value adjustments of financial assets and liabilities. All costs, including depreciation, amortisation and writedowns, are also included in the profit and loss account. Aktiver indregnes i balancen, når det er sandsynligt, at fremtidige økonomiske fordele vil tilflyde selskabet, og aktivets værdi kan måles pålideligt. Assets are recognised in the balance sheet when it is likely that future financial benefits will accrue to the company, and the value of the asset can be measured reliably. Forpligtelser indregnes i balancen, når det er sandsynligt, at fremtidige økonomiske fordele vil fragå selskabet, og forpligtelsens værdi kan måles pålideligt. Liabilities are recognised in the balance sheet when it is likely that future financial benefitswill flow from the company, and the value of the liability can be measured reliably. Ved første indregning måles aktiver og forpligtelser til kostpris. Efterfølgende måles aktiver og forpligtelser som beskrevet for hver enkelt regnskabspost nedenfor. On initial recognition, assets and liabilities are measured at cost. Assets and liabilities are subsequently measured as described for each individual accounting item below. Ved indregning og måling tages hensyn til forudsigelige tab og ricisi, der fremkommer inden årsrapporten aflægges, og som be- eller afkræfter forhold, der eksisterede på balancedagen. The recognition and measurement takes into account predictable losses and risks arising before the year-end reporting and which confirm or disconfirm matters that existed at the balance sheet date. Den regnskabsmæssige værdi af immaterielle og materielle anlægsaktiver gennemgås årligt for at afgøre, om der er indikation af værdiforringelse ud over det, som udtrykkes ved normal afskrivning. Hvis dette er tilfældet, foretages nedskrivning til den lavere genindvindingsværdi. The carrying amount of intangible and tangible fixed assets should be estimated annually to determine if there is any indication of impairment in excess of the amount reflected by normal amortisation or depreciation. If this is the case, write-down should be made to the lower recoverable amount.Koncernregnskabet omfatter moderselskabet EPICO-IT A/S samt selskaber hvori moderselskabet gennem kapitalbesiddelse har en bestemmende indflydelse samt. Koncernen omfatter EPICO-IT A/S, EPICO AS, EPICO AB og Epico-It Poland Sp. z o.o. The consolidated annual accounts comprise the parent company EPICO-IT A/S as well as companies in which the parent company has controlling interest through investments. The group comprises EPICO-IT A/S, EPICO AS, EPICO AB and Epico-It Poland Sp. z o.o Koncernregnskabet er udarbejdet som et sammendrag af regnskabsposter af ensartet karakter. The consolidated annual accounts have been prepared based on audited annual reports for the parent company and the subsidiaries as an aggregation of items of a uniform nature. Der er ved sammendraget foretaget eliminering af interne indtægter og udgifter, kapitalbesiddelser og mellemværender samt interne gevinster og tab, som indgår i aktivernes regnskabsmæssige værdi. In connection with the aggregation, elimination of intercompany income and expenses, investments and balances has been carried out as well as of internal gains and losses which are part of the book value of the assets. 17 I koncernregnskabet er den regnskabsmæssige værdi af moderselskabets kapitalandele i de konsoliderede dattervirksomheder udlignet med moderselskabets andel af dattervirksomhedernes regnskabsmæssige indre værdi opgjort på det tidspunkt, hvor koncernforholdet blev etableret. In the consolidated annual accounts, the book value of the parent company’s participating interests in the consolidated subsidiaries has been eliminated by the parent company's share of the subsidiaries' equity value calculated at the time when the group structure was established.Foreign currency translation Transaktioner i fremmed valuta omregnes til transaktionsdagens kurs. Valutakursdifferencer, der opstår mellem transaktionsdagens kurs og kursen på betalingsdagen, indregnes i resultatopgørelsen som en finansiel post. Foreign currency transactions are recognised at the exchange rate prevailing at the date of the transaction. Exchange differences arising between the exchange rate prevailing at the date of the transaction and the exchange rate at the payment date are recognised in the profit and loss statement as an item under financial income and expenses, net. Tilgodehavender, gæld og andre monetære poster i fremmed valuta, som ikke er afregnet på balancedagen, omregnes til balancedagens valutakurs. Forskellen mellem balancedagens kurs og kursen på tidspunktet for tilgodehavendets eller gældens opståen indregnes i resultatopgørelsen under finansielle indtægter og omkostninger. Receivables, debt and other monetary items in foreign currency, which are not settled at the balance sheet date, are translated at the exchange rate of the balance sheet date. The difference between the exchange rate at the balance sheet date and the exchange rate at the date of occurrence of the receivable or the payable is recognised in the profit and loss account under financial income and expenses.Ved salg af konsulenttimer indregnes nettoomsætning, når fordele og risici vedrørende de solgte varer er overgået til køber, nettoomsætningen kan måles pålideligt og det er sandsynligt, at de økonomiske fordele ved salget vil tilgå koncernen. Revenue from the sale of consulting hours is recognised when the risks and rewards relating to the goods 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 Group.Produktionsomkostninger omfatter direkte og indirekte omkostninger, der er afholdt i året til produktion, herunder omkostninger til råvarer og hjælpematerialer, produktionslønninger, og andre eksterne omkostninger. Production costs are direct and indirect costs incurred for production during the year, including costs for raw materials and consumables, production wages, and other external costs.Other operating income and expenses Andre driftsindtægter og andre driftsomkostninger omfatter regnskabsposter af sekundær karakter i forhold til koncernens hovedaktivitet, herunder avance og tab ved salg af immaterielle og materielle anlægsaktiver. Other operating income and other operating expenses comprise items of a secondary nature to the main activities of the Group, including gains and losses on the sale of intangible assets and property, plant and equipment.Distributionsomkostninger omfatter omkostninger, der er afholdt til distribution af solgte varer i året, herunder omkostninger til salgspersonale, transport, salgsfremmende omkostninger og lignende omkostninger . Distribution costs comprise costs incurred for the distribution goods sold during the year, including costs for sales staff, transport, promotion activities and similar costsI administrationsomkostninger indregnes omkostninger, der er afholdt i året til ledelse og administration, herunder omkostninger til det administrative personale, ledelsen, kontorlokaler, kontoromkostninger og lignende omkostninger samt af- og nedskrivninger på immaterielle og materielle anlægsaktiver. Expenses incurred during the year for management and administration are recognised in adminstration expenses. This includes expenses incurred for the administrative staff, Management, offices as well as office expenses and similar expenses and amortisation and impairment of intangible and tangible assets.Finansielle indtægter og omkostninger indregnes i resultatopgørelsen med de beløb, der vedrører regnskabsåret. Finansielle poster omfatter renteindtægter og -omkostninger samt realiserede og urealiserede kursreguleringer. Financial income and expenses are recognised in the profit and loss account with the amounts which concern the financial year. Net financials include interest income and expenses, realised and unrealised capital gains and losses.Tax on profit for the year Årets skat, der består af årets aktuelle skat og forskydning i udskudt skat, indregnes i resultatopgørelsen med den del, der kan henføres til årets resultat, og direkte på egenkapitalen med den del, der kan henføres til posteringer direkte på egenkapitalen. Tax for the year, which consists of current tax for the year and any change in deferred tax, is recognised in the profit and loss account with the share attributable to the results for the year and directly in equity with the share attributable to entries directly in equity. Aktuelle skatteforpligtelser og tilgodehavende aktuel skat indregnes i balancen som beregnet skat af årets skattepligtige indkomst reguleret for skat af tidligere års skattepligtige indkomster samt for betalte acontoskatter. Current tax liabilities and outstanding current tax are recognised in the balance sheet as calculated tax on the taxable income for the year adjusted for tax of previous years' taxable income and for tax paid on account. Udskudt skat måles efter den balanceorienterede gældsmetode af midlertidige forskelle mellem regnskabsmæssig og skattemæssig værdi af aktiver og forpligtelser. I de tilfælde, f.eks. vedrørende aktier, hvor opgørelse af skatte- værdien kan foretages efter alternative beskatningsregler, måles udskudt skat på grundlag af den planlagte an- vendelse af aktivet henholdsvis afvikling af forpligtelsen. Deferred tax is provided using the balancesheet liability method of provisional differences between accounting and tax base of assets and liabilities. In the cases, e.g. concerning shares where the statement of the tax base can be settled according to alternative taxation rules, deferred tax is measured based on the planned use of the asset or settlement of the liability. Udskudte skatteaktiver, herunder skatteværdien af fremførselsberettiget skattemæssigt underskud, måles til den værdi, hvortil aktivet forventes at kunne realiseres, enten ved udligning i skat af fremtidig indtjening eller ved modregning i udskudte skatteforpligtelser inden for samme juridiske skatteenhed. Eventuelle udskudte nettoaktiver måles til nettorealisationspris. Deferred tax assets including the tax base of tax loss carry-forwards is measured at the value for which the asset is expected to be realised either by elimination in tax on future earnings or by offsetting against deferred tax liabilities within the same legal tax entity. Any deferred net assets are measured at a net realisable amount. Udskudt skat måles på grundlag af de skatteregler og skattesatser, der med balancedagens lovgivning vil være gældende, når den udskudte skat forventes udløst som aktuel skat. Ændring i udskudt skat som følge af ændringer i skattesatser indregnes i resultatopgørelsen. For indeværende år er anvendt en skattesats på 22 %. Deferred tax is measured based on the tax rules and the tax rates which according to the legislation in force at balance sheet date will apply when the deferred tax is expected to be current tax. A change in deferred tax as a result of changes in tax rates is recognised in the profit and loss account. A tax rate of 22 % applies for the current year.IMMATERIELLE ANLÆGSAKTIVER Intangible fixed assets Goodwill måles til kostpris med fradrag af akkumulerede af- og nedskrivninger. Andre immaterielle anlægsaktiver, herunder licenser og erhvervede rettigheder mv. måles til kostpris med fradrag af akkumulerede af- og nedskrivninger. Det er af selskabets ledelse vurderet, at immaterialle anlægsaktiver har en nytteværdi, der strækker sig over en periode på 3 - 5 år. Goodwill is measured at cost less accumulated amortisation and impairment losses. Other intangible assets, including licences and acquired rights etc., are measured at cost less accumulated amortisation and impairment losses. It is estimated by the management that Intangible fixed assets has a useful value that extends over a period of 3 - 5 years.<table class="richtext-table"><thead><tr><th><th><th><th><th><th><th><th><th><th><th><th></tr></thead><body><tr><td>Materielle anlægsaktiver måles til kostpris med fradrag af akkumulerede afskrivninger.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Tangible fixed assets are measured at cost less accumulated depreciation.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Afskrivningsgrundlaget er kostpris med fradrag af forventet restværdi efter afsluttet brugstid.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>The basis of depreciation is cost less estimated residual value after the end of the useful life.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>19</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Kostprisen omfatter anskaffelsesprisen samt omkostninger direkte tilknyttet anskaffelsen indtil det tidspunkt, hvor aktivet er</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>klar til at blive taget i brug.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>The cost comprises the purchase price and costs directly attributable to the acquisition until the time when the asset is</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>ready to be taken into use.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Der foretages lineære afskrivninger baseret på følgende vurdering af aktivernes forventede brugstider og restværdi herefter:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Depreciation is carried out on a straight-line basis based on the following evaluation of the estimated useful life of</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>the assets and subsequent residual value:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>Forventet levetid</td><td></td><td>Restværdi</td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>estimated useful </td><td></td><td>subsequent </td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>life </td><td></td><td>residual value</td><td></td><td></td></tr><tr><td>Andre anlæg, driftsmateriel og inventar ........................................................................................................................................................</td><td></td><td></td><td></td><td></td><td></td><td></td><td>3-5 år</td><td></td><td>0 %</td><td></td><td></td></tr><tr><td>Other plant, fixtures and operating equipment ..................................................................................................................</td><td></td><td></td><td></td><td></td><td></td><td></td><td>3 - 5 years</td><td></td><td>0 %</td><td></td><td></td></tr></table>Afskrivningsperioden og restværdien fastsættes på anskaffelsestidspunktet og revurderes årligt. Overstiger rest- værdien aktivets regnskabsmæssige værdi, ophører afskrivning. The amortization period and the residual value is determined at the acquisition date and reassessed annually. if the value of the asset exceeds the residual value the depreciation ceases. Ved ændring af afskrivningsperioden eller restværdien indregnes virkningen for afskrivninger fremadrettet som en ændring i regnskabsmæssigt skøn. When changing the depreciation period or the residual value depreciation effect is recognized prospectively as a changes in accounting estimates. Kostprisen på et samlet aktiv opdeles i separate bestanddele, der afskrives hver for sig, hvis brugstiden på de enkelte bestanddele er forskellig. The cost of a total asset is divided into separate components they are depreciated separately if the usetime of the individual components are different. Fortjeneste eller tab ved afhændelse af materielle anlægsaktiver opgøres som forskellen mellem salgspris med fradrag af salgsomkostninger og den regnskabsmæssige værdi på salgstidspunktet. Fortjeneste eller tab indregnes i resultatopgørelsen under andre driftsindtægter eller andre driftsomkostninger. Profit or losses arising from disposal of tangible fixed assets are calculated as the difference between selling price less selling costs and the carrying amount at the time of sale.Profit or losses are recognised in the profit and loss account under other operating income or other operating expenses. VÆRDIFORRINGELSE AF LANGFRISTEDE AKTIVER Værdiforringelse af langfristede aktiver Impairment of non-current assets Den regnskabsmæssige værdi af langfristede aktiver vurderes årligt for indikationer på værdiforringelse, ud over det som udtrykkes ved afskrivning. The carrying value of non-current assets is tested annually for indications of impairment, in addition to the expressed by depreciation. Foreligger der indikationer på værdiforringelser, foretages nedskrivningstest af hvert enkelt aktiv henholdsvis gruppe af aktiver. Der foretages nedskrivning til genindvindingsværdien, hvis denne er lavere end den regnskabsmæssige værdi. Should indications of impairment, an impairment test of the asset or group of assets. Are written down to the recoverable amount if this is lower than the carrying value.I resultatopgørelsen indregnes den forholdsmæssige andel af de enkelte dattervirksomheders og kapitalinteresser resultat efter skat efter fuld eliminering af intern avance/tab og fradrag af afskrivning på goodwill. In the profit and loss account, the proportionate share of the individual subsidiaries’ results after tax is recognised after full elimination of intercompany gains/losses and less amortisation of goodwill. 20 Kapitalandele i dattervirksomheder og kapitalinteresser indregnes i balancen til den forholdsmæssige andel af virksomhedernes regnskabsmæssige indre værdi opgjort efter moderselskabets regnskabspraksis med fradrag eller tillæg af urealiserede koncerninterne avancer og tab og med tillæg eller fradrag af resterende værdi af positiv eller negativ goodwill opgjort efter overtagelsesmetoden. Participating interests in subsidiaries and capital interests are recognised in the balance sheet at the proportionate share of the enterprises’ equity value calculated according the parent company’s accounting policies after deduction or addition of unrealised intercompany profit and losses and with addition or deduction of remaining value of positive or negative goodwill calculated according to the acquisition method. Nettoopskrivning af kapitalandele i dattervirksomheder og kapitalinteresser overføres under egenkapitalen til reserve for nettoopskrivning efter den indre værdis metode i det omfang, den regnskabsmæssige værdi overstiger anskaffelsesværdien med fradrag af afskrivninger på goodwill. Net revaluation of investments in subsidiaries and capital interests is transferred under equity to net revaluation reserve according to the equity method to the extent that the book value exceeds the acquisition cost less amortisation of goodwill. Fortjeneste eller tab ved afhændelse af dattervirksomheder og kapitalinteresser opgøres som forskellen mellem afhændelsessummen og den regnskabsmæssige værdi af nettoaktiver på salgstidspunktet inklusive ikke afskrevet goodwill samt forventede omkostninger til salg eller afviklingen. Fortjeneste og tab indregnes i resultatopgørelsen under finansielle poster. Profit or losses in connection with disposal of subsidiaries and capital interests are calculated as the difference between the disposal consideration and the book value of net assets at the time of sale, including non-amortised goodwill as well as expected expenses for sale or winding up. Profit and losses are recognised in the profit and loss account under financials. Ved køb af nye dattervirksomheder og associerede virksomheder anvendes overtagelsesmetoden, hvorefter de nytilkøbte virksomheders aktiver og forpligtelser måles til dagsværdi på erhvervelsestidspunktet. Der hensættes til dækning af omkostninger ved besluttede omstruktureringer i den erhvervede virksomhed i forbindelse med købet. Der tages hensyn til skatteeffekten af de foretagne omvurderinger, se nedenfor for beskrivelse af goodwill. In connection with acquisition of new subsidiaries and associates, the acquisition method applies after which the assets and liabilities of the newly acquired enterprises are measured at the fair value of the date of acquisition. Provisions are made for the payment of costs in connection with decided restructuring in the acquired enterprise in connection with the acquisition. The tax effect of the revaluations made is taken into consideration; see below for a description of goodwill. Positive forskelsbeløb (goodwill) mellem anskaffelsesværdi og dagsværdi af overtagne aktiver og forpligtelser, inklusive hensatte forpligtelser til omstrukturering, indregnes under kapitalandele i tilknyttede og associerede virksomheder og afskrives over den vurderede økonomiske brugstid, der fastlægges på baggrund af ledelsens erfaringer inden for de enkelte forretningsområder. Afskrivningsperioden udgør maksimalt 5 år og er længst for strategisk erhvervede virksomheder med en stærk markedsposition og lang indtjeningsprofil. Den regnskabsmæssige værdi af goodwill vurderes løbende og nedskrives over resultatopgørelsen i de tilfælde, hvor den regnskabsmæssige værdi overstiger de forventede fremtidige nettoindtægter fra den virksomhed eller aktivitet, som goodwill er knyttet til. A positive balance (goodwill) between the acquisition cost and the fair value of the acquired assets and liabilities, including recognised restructuring provisions are recognised under participating interests in group enterprises and associates and are amortised over its estimated economic useful life which is determined based on management’s experience within the individual lines of business. The amortisation period is a maximum of 5 years and is longest for strategically acquired enterprises with a strong market position and a long-term earnings profile. The carrying amount of goodwill is estimated on a continuous basis and is written down over the profit and loss account in the cases in which the book value exceeds the expected future net income from the enterprise or the activity to which the goodwill is related.Tilgodehavender måles til amortiseret kostpris, der sædvanligvis svarer til nominel værdi. Værdien reduceres med nedskrivning til imødegåelse af forventet tab. Hensættelse til tab opgøres på grundlag af en individuel vurdering af de enkelte fordringers værdi. Debtors are measured at amortised cost which is usually comparable to nominal value. The value is reduced by the writing down to cover the expected loss. Provision for bad debt is calculated based on an individual evaluation of the value of the individual claims.Periodeafgrænsningsposter indregnet under aktiver omfatter afholdte omkostninger vedrørende efterfølgende regnskabsår. Prepayments recognised under assets include expenses incurred relating to the subsequent financial year.Udbytte, som forventes udbetalt for året, vises som en særskilt post under egenkapitalen. Foreslået udbytte indregnes som en forpligtelse på tidspunktet for vedtagelse på generalforsamling. Dividend which is expected paid for the year is shown as a separate item under equity. Proposed divided is recognised as a liability at the date of adoption by the general meeting.Finansielle forpligtelser indregnes ved lånoptagelse til det modtagne provenu efter fradrag af afholdte låneomkostninger. I efterfølgende perioder måles de finansielle forpligtelser til amortiseret kostpris svarende til den kapitaliserede værdi ved anvendelse af den effektive rente således, at forskellen mellem provenuet og den nominelle værdi indregnes i resultatopgørelsen over låneperioden. Financial liabilities are recognised initially at the proceeds received net of transaction expenses incurred. In subsequent periods, the financial liabilities are measured at amortised cost equal to the capitalised value by using the effective interest rate, allowing the difference between the proceeds and the nominal value to be recognised in the profit and loss account over the term of the loan. Gæld i øvrigt er målt til amortiseret kostpris svarende til nominel værdi. Other debt is measured at amortised cost equal to the nominal value.Pengestrømsopgørelsen viser selskabets pengestrømme for året fordelt på driftsaktivitet, investeringsaktivitet og finansieringsaktivitet, årets forskydning i likvider samt likvider ved årets begyndelse og slutning. The cash flow statement shows the Company's cash flows from operating, investing and financing activities for the year, the year's changes in cash and cash equivalents as well as the Company's cash and cash equivalents at the beginning and end of the year. Pengestrøm fra driftsaktivitet opgøres som årets resultat reguleret for ikke-kontante driftsposter, ændringer i driftskapital samt betalt selskabsskat. Cash flows from operating activities are calculated as the Company's share of the profit/loss adjusted for non- cash operating items, changes in working capital and corporation tax paid. Pengestrøm fra investeringsaktivitet omfatter betaling i forbindelse med køb og salg af anlægsaktiver samt investering i finansielle anlægsaktiver. Cash flows from investing activities comprise payments in connection with acquisitions and disposals of enterprises and activities and of intangible assets, plant and equipment and investments. Pengestrøm fra finansieringsaktivitet omfatter optagelse af lån samt afdrag på rentebærende gæld. Cash flow from the financing activity comprises cash flows from raising and repaying long-term liabilities.Likvider omfatter likvide beholdninger fratrukket træk på kassekreditten. Cash is defined as cash at bank and in hand deducted bank overdrafts.De i hoved- og nøgletalsoversigten anførte nøgletal er beregnet således: The key ratios given are calculated as follows: <table class="richtext-table"><thead><tr><th><th><th><th><th><th><th><th></tr></thead><body><tr><td>Afkastningsgrad</td><td></td><td>Resultat før finansielle poster</td><td></td><td></td><td></td><td></td><td>Profit/loss before financial income and expenses</td></tr><tr><td>Return on assets</td><td></td><td> </td><td></td><td></td><td></td><td></td><td> </td></tr><tr><td></td><td></td><td>Aktiver i alt</td><td></td><td></td><td></td><td></td><td>Total assets</td></tr></table><table class="richtext-table"><thead><tr><th><th><th><th><th><th><th><th></tr></thead><body><tr><td>Soliditetsgrad</td><td></td><td>Egenkapital</td><td></td><td></td><td></td><td></td><td>Equity</td></tr><tr><td>Solvency ratio</td><td></td><td> </td><td></td><td></td><td></td><td></td><td> </td></tr><tr><td></td><td></td><td>Passiver</td><td></td><td></td><td></td><td></td><td>Liabilities</td></tr></table><table class="richtext-table"><thead><tr><th><th><th><th><th><th><th><th></tr></thead><body><tr><td>Egenkapitalforrentning</td><td></td><td>Årets resultat x 100</td><td></td><td></td><td></td><td></td><td>Net profit/loss for the year x 100</td></tr><tr><td>Return on equity</td><td></td><td> </td><td></td><td></td><td></td><td></td><td> </td></tr><tr><td></td><td></td><td>Gennemsnitlig egenkapital</td><td></td><td></td><td></td><td></td><td>Average equity</td></tr></table><table class="richtext-table"><thead><tr><th><th><th><th><th><th><th><th><th></tr></thead><body><tr><td></td><td></td><td></td><td></td><td></td><td></td><td>nering</td><td></td><td></td></tr><tr><td></td><td></td><td>Udbetalt </td><td></td><td>Valutakurs</td><td></td><td>Proposal for</td><td></td><td></td></tr><tr><td>Saldo primo</td><td></td><td>udbytte</td><td></td><td>regulering</td><td></td><td>distribution of</td><td></td><td>Saldo ultimo</td></tr><tr><td>Opening </td><td></td><td>Paid</td><td></td><td>Exchange </td><td></td><td>the profit</td><td></td><td>Ending </td></tr><tr><td>Balance</td><td></td><td>dividends</td><td></td><td>adjustments</td><td></td><td>for the year</td><td></td><td>Balance</td></tr></table><table class="richtext-table"><thead><tr><th><th><th><th><th><th><th><th><th><th><th><th></tr></thead><body><tr><td>Aktiekapital .......................................................................................................................................................</td><td></td><td></td><td>500.000</td><td></td><td>0</td><td></td><td>0</td><td></td><td>0</td><td></td><td>500.000</td></tr><tr><td>Sharecapital</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Overført resultat .......................................................................................................................................................</td><td></td><td></td><td>17.586.888</td><td></td><td>-4.000.000</td><td></td><td>0</td><td></td><td>16.058.008</td><td></td><td>29.644.896</td></tr><tr><td>Retained earnings</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Reserve for nettoopskrivning .......................................................................................................................................................</td><td></td><td></td><td>5.312.429</td><td></td><td>0</td><td></td><td>-706.117</td><td></td><td>-1.105.678</td><td></td><td>3.500.635</td></tr><tr><td>Reserve for net revaluation under the equity method</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Udloddet udbytte .......................................................................................................................................................</td><td></td><td></td><td>0</td><td></td><td>0</td><td></td><td>0</td><td></td><td>0</td><td>0</td><td>0</td></tr><tr><td>Distributed dividends</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td>23.399.318</td><td></td><td>-4.000.000</td><td></td><td>-706.117</td><td></td><td>14.952.330</td><td></td><td>33.645.531</td></tr></table><table class="richtext-table"><thead><tr><th><th><th><th><th><th><th><th><th><th><th><th></tr></thead><body><tr><td>Aktiekapitalen består af 500.000 aktier a nominelt 1 DKK. Ingen aktier er tillagt særlige rettigheder.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>The share capital consists of 500.000 shares with a nominal value of 1 DKK. No shares carry special rights.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>Koncern</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>Group Company</td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>Forslag til re-</td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>sultatdispo-</td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>nering</td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>Udbetalt </td><td></td><td>Proposal for</td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>Saldo primo</td><td></td><td>udbytte</td><td></td><td>distribution of</td><td></td><td>Saldo ultimo</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>Opening </td><td></td><td>Paid</td><td></td><td>the profit</td><td></td><td>Ending </td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>Balance</td><td></td><td>dividends</td><td></td><td>for the year</td><td></td><td>Balance</td></tr></table><table class="richtext-table"><thead><tr><th><th><th><th><th><th><th><th><th><th><th><th></tr></thead><body><tr><td>Aktiekapital .......................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>500.000</td><td></td><td>0</td><td></td><td>0</td><td></td><td>500.000</td></tr><tr><td>Sharecapital</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Overført resultat .......................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>22.899.318</td><td></td><td>-4.000.000</td><td></td><td>14.246.213</td><td></td><td>33.145.531</td></tr><tr><td>Retained earnings</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Reserve for nettoopskrivning .......................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>0</td><td></td><td>0</td><td></td><td>0</td><td></td><td>0</td></tr><tr><td>Reserve for net revaluation under the equity method</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Minoritetsinteresse .......................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>0</td><td></td><td>0</td><td></td><td>0</td><td></td><td>0</td></tr><tr><td>Minority Interest</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Udloddet udbytte .......................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>0</td><td></td><td>0</td><td></td><td>0</td><td>0</td><td>0</td></tr><tr><td>Distributed dividends</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>23.399.318</td><td></td><td>-4.000.000</td><td></td><td>14.246.213</td><td></td><td>33.645.531</td></tr></table>Aktiekapitalen består af 500.000 aktier a nominelt 1 DKK. Ingen aktier er tillagt særlige rettigheder. The share capital consists of 500.000 shares with a nominal value of 1 DKK. No shares carry special rights. Aktiekapitalen består af 500.000 aktier a nominelt 1 DKK. Ingen aktier er tillagt særlige rettigheder. The share capital consists of 500.000 shares with a nominal value of 1 DKK. No shares carry special rights.NETTEOMSÆTNING: Net Sale Af den totale nettoomsætning udgør 78 % (2021: 79 %) omsætning i Danmark og 22 % (2021: 21 %) omsætning til udlandet. Of the total revenue, 78 % (2021: 22 %) of revenue is releated to Denmark and 22 % (2021: 21 %) related to other countries. Selskabet har ét aktivitetssegment, hvorfor segementinformationer ikke er oplyst i årsrapporten. The company has one business segment, and segment information is therefore not disclosed in the financial statements.<table class="richtext-table"><thead><tr><th><th><th><th><th><th><th><th><th><th><th><th></tr></thead><body><tr><td>Staff costs</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Lønninger og gager ...................................................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>98.694.390</td><td></td><td>89.270.045</td><td></td><td>84.809.412</td><td></td><td>75.603.379</td></tr><tr><td>Wages</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Pensioner.....................................................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>5.984.035</td><td></td><td>4.970.718</td><td></td><td>3.944.617</td><td></td><td>3.071.003</td></tr><tr><td>Pension benefits</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Social sikring .................................................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>5.547.964</td><td></td><td>5.025.556</td><td></td><td>1.125.792</td><td></td><td>745.078</td></tr><tr><td>Other costs for social security</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>110.226.389</td><td></td><td>99.266.319</td><td></td><td>89.879.821</td><td></td><td>79.419.461</td></tr></table><table class="richtext-table"><thead><tr><th><th><th><th><th><th><th><th><th><th><th><th></tr></thead><body><tr><td>Heraf udgør vederlag og pension til ledelsen og bestyrelse:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Of this, remuneration and pension to the management constitute:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Direktion, vederlag .........................................................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>5.842.792</td><td></td><td>2.867.931</td><td></td><td>5.842.792</td><td></td><td>2.867.931</td></tr><tr><td>Management, remuneration</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Bestyrelse, vederlag .........................................................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>493.968</td><td></td><td>0</td><td></td><td>493.968</td><td></td><td>0</td></tr><tr><td>Board of Directors, remuneration</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Direktion, pension .........................................................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>255.200</td><td></td><td>117.828</td><td></td><td>255.200</td><td></td><td>117.828</td></tr><tr><td>Management, pension benefits</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>6.591.960</td><td></td><td>2.985.758</td><td></td><td>6.591.960</td><td></td><td>2.985.758</td></tr></table><table class="richtext-table"><thead><tr><th><th><th><th><th><th><th><th><th><th><th><th></tr></thead><body><tr><td>Gennemsnitligt antal fuldtidsbeskæftigede .................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>132</td><td></td><td>118</td><td></td><td>113</td><td></td><td>95</td></tr><tr><td>Avarage number of employees</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table><table class="richtext-table"><thead><tr><th><th><th><th><th><th><th><th><th><th><th><th></tr></thead><body><tr><td>Finansial income </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Renteindtægter tilknyttede virksomheder.........................................................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>0</td><td></td><td>0</td><td></td><td>286.994</td><td></td><td>124.158</td></tr><tr><td>Finansial income from group enterprises</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Øvrige finansielle indtægter .........................................................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>361.466</td><td></td><td>368.660</td><td></td><td>276.385</td><td></td><td>340.688</td></tr><tr><td>Other finansial income</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>361.466</td><td></td><td>368.660</td><td></td><td>563.379</td><td></td><td>464.846</td></tr></table><table class="richtext-table"><thead><tr><th><th><th><th><th><th><th><th><th><th><th><th></tr></thead><body><tr><td>Finansial expenses</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Øvrige finansielle omkostninger .........................................................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>1.191.327</td><td></td><td>370.523</td><td></td><td>962.252</td><td></td><td>262.305</td></tr><tr><td>Other finansial expenses</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>1.191.327</td><td></td><td>370.523</td><td></td><td>962.252</td><td></td><td>262.305</td></tr></table><table class="richtext-table"><thead><tr><th><th><th><th><th><th><th><th><th><th><th><th></tr></thead><body><tr><td>SKAT AF ÅRETS RESULTAT:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Tax on profit/loss for the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Skat af ordinært resultat ............................................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>4.823.341</td><td></td><td>4.720.886</td><td></td><td>4.067.360</td><td></td><td>3.781.294</td></tr><tr><td>Corporation tax</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Årets ændring i udskudt skat ............................................................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>-127.006</td><td></td><td>-36.168</td><td></td><td>-127.006</td><td></td><td>-36.168</td></tr><tr><td>Adjustment of deferred tax</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>4.696.335</td><td></td><td>4.684.718</td><td></td><td>3.940.354</td><td></td><td>3.745.126</td></tr></table><table class="richtext-table"><thead><tr><th><th><th><th><th><th><th><th><th><th><th><th></tr></thead><body><tr><td></td><td></td><td></td><td></td><td></td><td>Erhvervede</td><td></td><td>Erhvervede</td><td></td><td>Erhvervede</td><td></td><td>Erhvervede</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>immaterielle</td><td></td><td>immaterielle</td><td></td><td>immaterielle</td><td></td><td>immaterielle</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>anlægsaktiver</td><td></td><td>anlægsaktiver</td><td></td><td>anlægsaktiver</td><td></td><td>anlægsaktiver</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>Acquired</td><td></td><td>Acquired</td><td></td><td>Acquired</td><td></td><td>Acquired</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>intangible</td><td></td><td>intangible</td><td></td><td>intangible</td><td></td><td>intangible</td></tr><tr><td>IMATERIELLE ANLÆGSAKTIVER:</td><td></td><td></td><td></td><td></td><td>assets</td><td></td><td>assets</td><td></td><td>assets</td><td></td><td>assets</td></tr><tr><td>Intangible fixed assets</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Anskaffelsessum primo ...................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>725.330</td><td></td><td>725.330</td><td></td><td>725.330</td><td></td><td>725.330</td></tr><tr><td>Acquisition cost at the beginning of the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Årets afgang .......................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>0</td><td></td><td>0</td><td></td><td>0</td><td></td><td>0</td></tr><tr><td>Disposals during the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Anskaffelsessum ultimo .....................................................................................................................................</td><td></td><td></td><td></td><td></td><td>725.330</td><td></td><td>725.330</td><td></td><td>725.330</td><td></td><td>725.330</td></tr><tr><td>Acquisition cost at the end for the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table><table class="richtext-table"><thead><tr><th><th><th><th><th><th><th><th><th><th><th><th></tr></thead><body><tr><td>Af- og nedskrivninger primo ...................................................................................................................................</td><td></td><td></td><td></td><td></td><td>712.459</td><td></td><td>618.013</td><td></td><td>712.459</td><td></td><td>618.013</td></tr><tr><td>Depreciation at the beginning of the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Årets afskrivninger ..............................................................................................................................................</td><td></td><td></td><td></td><td></td><td>12.866</td><td></td><td>94.446</td><td></td><td>12.866</td><td></td><td>94.446</td></tr><tr><td>Depreciation for the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Årets afgang afskrivninger ..............................................................................................................................................</td><td></td><td></td><td></td><td></td><td>0</td><td></td><td>0</td><td></td><td>0</td><td></td><td>0</td></tr><tr><td>Disposals during the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Af- og nedskrivninger ultimo ..................................................................................................................................</td><td></td><td></td><td></td><td></td><td>725.325</td><td></td><td>712.459</td><td></td><td>725.325</td><td></td><td>712.459</td></tr><tr><td>Depreciation at the end of the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table><table class="richtext-table"><thead><tr><th><th><th><th><th><th><th><th><th><th><th><th></tr></thead><body><tr><td>BOGFØRT VÆRDI ULTIMO ..............................................................................................................................................</td><td></td><td></td><td></td><td></td><td>5</td><td></td><td>12.871</td><td></td><td>5</td><td></td><td>12.871</td></tr><tr><td>Book value at the end of the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table><table class="richtext-table"><thead><tr><th><th><th><th><th><th><th></tr></thead><body><tr><td>Goodwill</td><td></td><td>Goodwill</td><td></td><td>Goodwill</td><td></td><td>Goodwill</td></tr><tr><td>Goodwill</td><td></td><td>Goodwill</td><td></td><td>Goodwill</td><td></td><td>Goodwill</td></tr></table><table class="richtext-table"><thead><tr><th><th><th><th><th><th><th><th><th><th><th><th></tr></thead><body><tr><td>Anskaffelsessum primo ...........................................................................................................................</td><td></td><td></td><td></td><td></td><td>1.191.282</td><td></td><td>1.191.282</td><td></td><td>0</td><td></td><td>0</td></tr><tr><td>Acquisition cost at the beginning of the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Årets tilgang .......................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>0</td><td></td><td>0</td><td></td><td>0</td><td></td><td>0</td></tr><tr><td>Additions during the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Anskaffelsessum ultimo .....................................................................................................................................</td><td></td><td></td><td></td><td></td><td>1.191.282</td><td></td><td>1.191.282</td><td></td><td>0</td><td></td><td>0</td></tr><tr><td>Acquisition cost at the end for the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table><table class="richtext-table"><thead><tr><th><th><th><th><th><th><th><th><th><th><th><th></tr></thead><body><tr><td>Af- og nedskrivninger primo ...................................................................................................................................</td><td></td><td></td><td></td><td></td><td>536.077</td><td></td><td>416.949</td><td></td><td>0</td><td></td><td>0</td></tr><tr><td>Depreciation at the beginning of the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Årets afskrivninger ..............................................................................................................................................</td><td></td><td></td><td></td><td></td><td>119.128</td><td></td><td>119.128</td><td></td><td>0</td><td></td><td>0</td></tr><tr><td>Depreciation for the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Af- og nedskrivninger ultimo ..................................................................................................................................</td><td></td><td></td><td></td><td></td><td>655.205</td><td></td><td>536.077</td><td></td><td>0</td><td></td><td>0</td></tr><tr><td>Depreciation at the end of the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table><table class="richtext-table"><thead><tr><th><th><th><th><th><th><th><th><th><th><th><th></tr></thead><body><tr><td>BOGFØRT VÆRDI ULTIMO ..............................................................................................................................................</td><td></td><td></td><td></td><td></td><td>536.077</td><td></td><td>655.205</td><td></td><td>0</td><td></td><td>0</td></tr><tr><td>Book value at the end of the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Koncernens investering i dattervirksomheder anses for at være af strategisk betydning for koncernen. Under hensyntagen til koncernens</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>forventede planer for forøgelse af aktiviteter og stigning i indtjening er den økonomiske levetid for goodwill blevet fastsat til 10 år.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>The Group's investment in subsidiaries is considered to be of strategic importance to the Group. Taking into account the Group's</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>expected plans for increasing activities and increasing earnings, the economic life of goodwill has been set to 10 years.</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table><table class="richtext-table"><thead><tr><th><th><th><th><th></tr></thead><body><tr><td>Koncern</td><td></td><td></td><td></td><td>Modervirksomhed</td></tr><tr><td>Group Company</td><td></td><td></td><td></td><td>Parent Company</td></tr></table><table class="richtext-table"><thead><tr><th><th><th><th><th><th><th><th><th><th><th><th></tr></thead><body><tr><td></td><td></td><td></td><td></td><td></td><td>2022</td><td></td><td>2021</td><td></td><td>2022</td><td></td><td>2021</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>Kr.</td><td></td><td>Kr.</td><td></td><td>Kr.</td><td></td><td>Kr.</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>Driftsmateriel</td><td></td><td>Driftsmateriel</td><td></td><td>Driftsmateriel</td><td></td><td>Driftsmateriel</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>og inventar</td><td>0</td><td>og inventar</td><td></td><td>og inventar</td><td>0</td><td>og inventar</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>Other fixtures,</td><td></td><td>Other fixtures,</td><td></td><td>Other fixtures,</td><td></td><td>Other fixtures,</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>fittings tools</td><td></td><td>fittings tools</td><td></td><td>fittings tools</td><td></td><td>fittings tools</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>and</td><td></td><td>and</td><td></td><td>and</td><td></td><td>and</td></tr><tr><td>MATERIELLE ANLÆGSAKTIVER:</td><td></td><td></td><td></td><td></td><td>equipment etc.</td><td></td><td>equipment etc.</td><td></td><td>equipment etc.</td><td></td><td>equipment etc.</td></tr><tr><td>Tangible fixed assets</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Anskaffelsessum primo ................................................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>1.174.417</td><td></td><td>1.169.314</td><td></td><td>1.027.326</td><td>0</td><td>1.027.326</td></tr><tr><td>Acquisition cost at the beginning of the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Årets tilgang .......................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>118.808</td><td></td><td>17.731</td><td></td><td>102.000</td><td>0</td><td>0</td></tr><tr><td>Additions during the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Årets afgang .........................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>0</td><td></td><td>0</td><td></td><td>0</td><td>0</td><td>0</td></tr><tr><td>Disposals during the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>0</td><td></td></tr><tr><td>Anskaffelsessum ultimo .....................................................................................................................................</td><td></td><td></td><td></td><td></td><td>1.293.225</td><td></td><td>1.187.046</td><td></td><td>1.129.326</td><td>0</td><td>1.027.326</td></tr><tr><td>Acquisition cost at the end for the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>0</td><td></td></tr></table><table class="richtext-table"><thead><tr><th><th><th><th><th><th><th><th><th><th><th><th></tr></thead><body><tr><td>Af- og nedskrivninger primo ...................................................................................................................................</td><td></td><td></td><td></td><td></td><td>1.077.234</td><td></td><td>946.510</td><td></td><td>989.597</td><td>0</td><td>902.126</td></tr><tr><td>Depreciation at the beginning of the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Årets afskrivninger ..............................................................................................................................................</td><td></td><td></td><td></td><td></td><td>109.724</td><td></td><td>138.248</td><td></td><td>58.827</td><td></td><td>87.471</td></tr><tr><td>Depreciation for the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Årets afgang afskrivninger ..............................................................................................................................................</td><td></td><td></td><td></td><td></td><td>0</td><td></td><td>0</td><td></td><td>0</td><td></td><td>0</td></tr><tr><td>Disposals during the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>0</td><td></td></tr><tr><td>Af- og nedskrivninger ultimo ..................................................................................................................................</td><td></td><td></td><td></td><td></td><td>1.186.958</td><td></td><td>1.084.757</td><td></td><td>1.048.424</td><td>0</td><td>989.597</td></tr><tr><td>Depreciation at the end of the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>0</td><td></td></tr><tr><td>BOGFØRT VÆRDI ULTIMO ..............................................................................................................................................</td><td></td><td></td><td></td><td></td><td>106.267</td><td></td><td>102.288</td><td></td><td>80.902</td><td>0</td><td>37.729</td></tr><tr><td>Book value at the end of the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table><table class="richtext-table"><thead><tr><th><th><th><th><th><th><th><th><th><th><th><th></tr></thead><body><tr><td>FINANSIELLE ANLÆGSAKTIVER:</td><td></td><td></td><td></td><td></td><td>Kapitalandele</td><td></td><td>Kapitalandele</td><td></td><td>Kapitalandele</td><td></td><td>Kapitalandele</td></tr><tr><td>Fixed asset investments</td><td></td><td></td><td></td><td></td><td>i tilknyttede</td><td></td><td>i tilknyttede</td><td></td><td>i tilknyttede</td><td></td><td>i tilknyttede</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>virksomheder</td><td></td><td>virksomheder</td><td></td><td>virksomheder</td><td></td><td>virksomheder</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>Participating</td><td></td><td>Participating</td><td></td><td>Participating</td><td></td><td>Participating</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td> interests in</td><td></td><td> interests in</td><td></td><td> interests in</td><td></td><td> interests in</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td> subsidiaries</td><td></td><td> subsidiaries</td><td></td><td> subsidiaries</td><td></td><td> subsidiaries</td></tr></table><table class="richtext-table"><thead><tr><th><th><th><th><th><th><th><th><th><th><th><th></tr></thead><body><tr><td>Anskaffelsessum primo .............................................................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>0</td><td></td><td>0</td><td></td><td>1.660.635</td><td></td><td>1.685.885</td></tr><tr><td>Acquisition cost at the beginning of the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Årets afgang ...............................................................................................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>0</td><td></td><td>0</td><td></td><td>0</td><td></td><td>-25.250</td></tr><tr><td>Disposals during the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Anskaffelsessum ultimo .....................................................................................................................................</td><td></td><td></td><td></td><td></td><td>0</td><td></td><td>0</td><td></td><td>1.660.635</td><td></td><td>1.660.635</td></tr><tr><td>Acquisition cost at the end for the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table><table class="richtext-table"><thead><tr><th><th><th><th><th><th><th><th><th><th><th><th></tr></thead><body><tr><td>Værdireguleringer primo ...........................................................................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>0</td><td></td><td>0</td><td></td><td>9.372.050</td><td></td><td>5.914.267</td></tr><tr><td>Adjustment, beginning of the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Årets resultat ....................................................................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>0</td><td></td><td>0</td><td> </td><td>1.853.451</td><td></td><td>2.024.643</td></tr><tr><td>Profit/loss for the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Årets regulering ved afgang ....................................................................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>0</td><td></td><td>0</td><td></td><td>0</td><td></td><td>361.276</td></tr><tr><td>Adjustment of the year on disposals</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Årets afskrivning på koncerngoodwill..............................................................................................................................................</td><td></td><td></td><td></td><td></td><td>0</td><td></td><td>0</td><td></td><td>-119.128</td><td></td><td>-119.128</td></tr><tr><td>Depreciation on group goodwill</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Årets valutakurs regulering ...................................................................................................................................</td><td></td><td></td><td></td><td></td><td>0</td><td></td><td>0</td><td></td><td>-706.117</td><td></td><td>-33.793</td></tr><tr><td>Exchange adjustments for the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Negativ værdi modregnet i tilgodehavender ..............................................................................................................................................</td><td></td><td></td><td></td><td></td><td>0</td><td></td><td>0</td><td></td><td>1.751.656</td><td></td><td>1.224.785</td></tr><tr><td>Investments with a negative net asset value written down over</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td> </td><td></td><td></td><td></td></tr><tr><td>receivables</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Værdireguleringer ultimo .....................................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>0</td><td></td><td>0</td><td> </td><td>12.151.911</td><td></td><td>9.372.050</td></tr><tr><td>Adjustment, end of the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td> </td><td></td><td></td><td></td></tr><tr><td>BOGFØRT VÆRDI ULTIMO ..............................................................................................................................................</td><td></td><td></td><td></td><td></td><td>0</td><td></td><td>0</td><td> </td><td>13.812.545</td><td></td><td>11.032.685</td></tr><tr><td>Book value at the end of the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr></table><table class="richtext-table"><thead><tr><th><th><th><th><th><th><th><th><th><th><th><th></tr></thead><body><tr><td>Heraf præsenteret under aktiver ..............................................................................................................................................</td><td></td><td></td><td></td><td></td><td>0</td><td></td><td>0</td><td> </td><td>10.972.545</td><td></td><td>11.032.685</td></tr><tr><td>Included under assets</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>0</td><td></td><td>0</td><td></td><td>10.972.545</td><td></td><td>11.032.685</td></tr></table><table class="richtext-table"><thead><tr><th><th><th><th><th><th><th><th><th><th><th><th></tr></thead><body><tr><td>Resterende positive forskelsbeløb af goodwill, der indgår i ovenstående </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>regnskabsmæssige værdi, udgør ultimo .................................................................................................................................</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>536.077</td><td></td><td>655.205</td></tr><tr><td>The remaining positive difference amounts of goodwill, which are included in the above </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>carrying amount, constitute the end of the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>KAPITALANDELE I DATTERVIRKSOMHEDER SPECIFICERES SÅLEDES:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Investments in subsidiaries are specified as follows:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>Resultat</td><td>0</td><td>Egenkapital</td><td></td><td>Hjemsted</td><td></td><td>Ejerandel</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>Profit</td><td></td><td>Equity</td><td></td><td>Home</td><td></td><td>Ownership</td></tr></table><table class="richtext-table"><thead><tr><th><th><th><th><th><th><th><th><th><th><th><th></tr></thead><body><tr><td>EPICO AS .......................................................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>156.848</td><td></td><td>1.593.658</td><td></td><td>Norge</td><td></td><td>100,0 %</td></tr><tr><td>EPICO AB .......................................................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>3.521.535</td><td></td><td>8.842.810</td><td></td><td>Sverige</td><td></td><td>100,0 %</td></tr><tr><td>Epico-It Poland Sp. z o.o. .......................................................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>-1.824.932</td><td></td><td>-5.811.277</td><td></td><td>Polen</td><td></td><td>100,0 %</td></tr></table>Periodeafgrænsningsposter omfatter forudbetalte driftsomkostninger mv. for næste regnskabsår. Prepayments consist of operating costs etc. for next year.<table class="richtext-table"><thead><tr><th><th><th><th><th><th><th><th><th><th><th><th></tr></thead><body><tr><td>Deferred tax asset</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Udskudt skat primo ......................................................................................................................................................................................</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>472.780</td><td></td><td>436.613</td></tr><tr><td>Balance at the beginning of the year</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Årets regulering, indregnet i resultatopgørelsen ......................................................................................................................................................................................</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>127.006</td><td></td><td>36.168</td></tr><tr><td>Adjustment related to the period </td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>599.786</td><td></td><td>472.780</td></tr></table>Udskudt skat omfatter tidsbestemte afvigelser på immaterielle og materielle anlægsaktiver, debitorer og langfristede gældsforpligtelser. Ledelsen forventer at skatteaktivet kan udnyttet inden for 3 - 5 år. Deferred tax relates to temporal deviations on intangible and tangible fixed assets, receivables and long-term debt. The management expects the tax asset to be utilized within the next three to five years<table class="richtext-table"><thead><tr><th><th><th><th><th><th><th><th><th><th><th><th></tr></thead><body><tr><td>LANGFRISTEDE GÆLDSFORPLIGTELSER:</td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Long-term debt</td><td></td><td></td><td></td><td>0</td><td>Gæld i alt</td><td>0</td><td>Afdrag</td><td></td><td>Langfristet</td><td></td><td>Restgæld</td></tr><tr><td></td><td></td><td></td><td></td><td>0</td><td></td><td>0</td><td>næste år</td><td></td><td>andel</td><td></td><td>efter 5 år</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td>Payments</td><td></td><td></td><td></td><td>Debt after</td></tr><tr><td></td><td></td><td></td><td></td><td></td><td>Total debt</td><td></td><td>next year</td><td></td><td>Long-term</td><td></td><td>5 years</td></tr></table><table class="richtext-table"><thead><tr><th><th><th><th><th><th><th><th><th><th><th><th></tr></thead><body><tr><td></td><td></td><td></td><td></td><td>0</td><td></td><td>0</td><td></td><td></td><td></td><td></td><td></td></tr><tr><td>Anden langfristet gæld .......................................................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>0</td><td>0</td><td>0</td><td></td><td>0</td><td></td><td>0</td></tr></table>EVENTUALFORPLIGTELSER: Contingent liabilities Parent Company: Til sikkerhed for alt mellemværende med Danske Bank er der afgivet virksomhedspant på 27.000.000 kr. i aktiver med en bogført værdi på 117.198.583 kr. As security for all accounts with Danske Bank there is company pledge at 27,000,000 DKK in assets with a book value on 117.198.583 DKK. Group Company: Til sikkerhed for alt mellemværende med Danske Bank er der afgivet virksomhedspant på 27.000.000 kr. i aktiver med en bogført værdi på 117.198.583 kr. As security for all accounts with Danske Bank there is company pledge at 27,000,000 DKK in assets with a book value on 117.198.583 DKK. Parent Company: Selskabet har indgået operationelle leasingforpligtelser. Forpligtelsen udgør pr. 31. december 2022 i alt 2.794.058 kr. The company has entered into operational leases. At december December 31st 2022 the obligation amounts to 2.794.058 DKK. 33 Group Company: Koncernen har indgået operationelle leasingforpligtelser. Forpligtelsen udgør pr. 31. december 2022 i alt 2.794.058 kr. The group has entered into operational leases. At december December 31st 2022 the obligation amounts to 2.794.058 DKK. Parent Company: Selskabet har indgået lejekontrakter. Forpligtigelsen udgør pr. 31. december 2022 i alt 632.859 kr. The company has entered into rent commitments. At december December 31st 2022 the obligation amounts to 632.859 DKK. Group Company: Koncernen har indgået lejekontrakter. Forpligtigelsen udgør pr. 31. december 2022 i alt 632.859 kr. The group has entered into rent commitments. At december December 31st 2022 the obligation amounts to 632.859 DKK. Parent Company: EPICO-IT A/S er sambeskattet med JM Hansen Holding ApS og hæfter ubegrænset og solidarisk inden for sambeskatningskredsen for danske selskabsskatter samt dansk kildeskat på renter, royalties og udbytter for alle tilknyttede danske selskaber i koncernen. Eventuelle senere korrektioner af den skattepligtige sambeskatningsindkomst eller kildeskatter vil kunne medføre, at selskabets hæftelse udgør et større beløb. Sambeskatningsforpligtelsen fremgår af årsrapporten for JM Hansen Holding ApS. EPICO-IT A/S is jointly taxed with JM Hansen Holding ApS and is guaranteeing unlimited and be jointly and severally responsible with the other companies in the joint taxation for national corporate taxes including with- holding taxes on interests, royalties and dividends for all associated Danish companies in the Group. Any correction made to the jointly taxable income or withholding taxes might affect the liability for the company. The joint tax liability is stated in the annual report for JM Hansen Holding ApS.NÆRTSTÅENDE PARTER: Related parties EPICO-IT A/S´ nærtstående parter omfatter følgende: EPICO-IT A/S has the following related parties: BESTEMMENDE INDFLYDELSE: Controlling interest JM Hansen Holding ApS, Amaliegade 28B, 1., 1256 København K. TRANSAKTIONER MED NÆRTSTÅENDE PARTER: Related party transactions Virksomheden oplyser kun om transaktioner med nærtstående parter, der ikke er gennemført på normale markedsvilkår, jf. lovens § 98 c, stk. 7. Alle transaktioner er gennemført på normale markedsvilkår The Company solely discloses related party transactions that have not been carried out on an arm's length basis, cf. section 98c(7) of the Danish Financial Statements Act. All transactions have been carried out on an arm's length basis.Honorar til revisorer er ikke oplyst med henvisning til årsregnskabslovens § 96. stk. 3. Honarer fremgår af koncernregnskabet for JM Hansen Holding ApS, CVR-nr. 32 36 00 33. Fees to the auditor are not disclosed pursuant to section 96 (3) of the Danish Financial Statements Act. The Fees are specified in the consolidated financial statement of JM Hansen Holding ApS, CVR-nr. 32 36 00 33.71761002361848637458574592351454553961848637447408399439036169038026822351454553939557015432389437831894188759837454252092016148037998143146504816845122422046924588188112091999397808417106058400831623729780841766838117661730587788939595681866669447585276966160920214544696315024411947022610428793004597183628434299415632062420258420478526191299991747258416080488191299997737696242872027449151608048857456733248013112927900181897319055143614663686605633794648461191327370523962252262305196486661912813518892684181885434696335468471839403543745126149523301444341714952330144434170040000007000000-11056782232998120580085210419016058008-110567800142462137061170144434175461067130792019237261444341754677751170933173360251287151287153607765520500106267102288809023772900109725451103268563885958517863885958517812812081355542116923121166846313528599713921896911711767612255757501881232353941851232003264712883237204711872025160394411386621272241742628599786472780599786472780292837721844130612265771915125170038211162036186134999603130683333171319419163391727146691915142351796163391727121231683120395197960994371423517961065846221026592988180165850000050000050000050000000350063553124293314553122899318296448961758688800003364553123399318336455312339931850000017586888531242902339931850000029644896350063505000002289931800233993185000003314553100233993181570047611259508115881352339931815989694112595081158813509019110901911309061281261143090612812611495662412495662412410699909310065007187477692852880203711760371176046016924892422406736037812942260175125397767180299782083101413767388913999241011304638511895247717131941916339172714669191514235179646963354684718241719351822489242225214613275240-411721982384408-36900619158887941268691900001188080-1188080400000070000003711760-3628824-70000001214116256869191841718212730264292742071841718200000000-7061170-70611700-7061170-70611740000000400000040000000400000000000000000000-829861-1863-199863-96599-57962-398873202540198152-10480848870Heraf investering i immaterielle og materielle anlægsaktiverHeraf investering i immaterielle og materielle anlægsaktiverHeraf investering i immaterielle og materielle anlægsaktiverHeraf investering i immaterielle og materielle anlægsaktiverHeraf investering i immaterielle og materielle anlægsaktiverHeraf investering i immaterielle og materielle anlægsaktiverHeraf investering i immaterielle og materielle anlægsaktiverHeraf investering i immaterielle og materielle anlægsaktiverHeraf investering i immaterielle og materielle anlægsaktiverHeraf investering i immaterielle og materielle anlægsaktiver11880817731144668107359550027102000001073595500270.12240.13440.06400.02240.02860.12090.12920.05490.03520.01440.19640.14320.12950.09350.12060.22940.16440.15000.10970.14170.52420.73880.40510.11450.16600.52420.73340.40130.10250.1259