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for konklusionKonklusion2021-01-012021-12-312020-01-012020-12-312022-05-102022-05-10Ballerup2022-03-23SvendborgJens Morten HansenJohan GrothMichael Jensby JakobsenStatsautoriseret revisorStatsautoriseret revisormne11630mne342903548617835486178RevisionsFirmaet EdelboRevisionsFirmaet EdelboKogtvedparkenKogtvedparken171757005700SvendborgSvendborgDanmarkDanmarkDKDK35486178RevisionsFirmaet EdelboKogtvedparken 175700 SvendborgRegnskabsklasse C, mellemstor virksomhedfalse32466249EPICO-IT A/SBorupvang2 C2750BallerupDanmarkDK118999578Jan HansenDirektørJesper Wadum NielsenChristian Van Roon ThomsenJens Morten HansenDirektionen og bestyrelsen har dags dato behandlet og godkendt årsrapporten for regnskabsåret 1. januar - 31. december 2021 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 2021. 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 2021 samt af resultatet af koncernens og selskabets aktiviteter og pengestrømme for regnskabsåret 1. januar - 31. december 2021. In our opinion, the Financial Statements and the Consolidated Financial Statement give a true and fair view of the financial position at 31 December 2021 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 2021. 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 2021, 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 2021, 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 2021 samt af resultatet af koncernens og selskabets aktiviteter og koncernens pengestrømme for regnskabsåret 1. januar – 31. december 2021 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 2021, 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 2021 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.Erklæring i henhold til anden lovgivning og øvrig regulering Emphasis of matter regarding other matters Overtrædelse af reglerne om indberetning af A-skat og AM-bidrag Violation of the rules on reporting A-tax and AM-contributions Selskabet har i strid med skattelovgivningen i et enkelt tilfælde ikke indeholdt og indberettet A-skat og AM-bidrag af udbetalt løn på 150 tkr., hvorved ledelsen kan ifalde ansvar. Forholdet er efterfølgende efterangivet til SKAT. In violation of the tax laws rules, the company has in a single case not contained and reported correct A-tax and AM-contributions of paid salary on 150 tdkk., whereby the management may incur liability. The matter is subsequently reported to SKAT.EPICO IT A/S er en privat ejet virksomhed hvis hovedaktivitet i at levere dygtige og kompetente IT- konsulenter til vores store kunder og deres IT- projekter. EPICO IT A/S is a privately owned company and its principal activity is to delivery talented and competent IT consultants to our large customers and their IT projects. EPICO IT A/S har siden etableringen været koncentreret omkring vores kunders IT-konsulent behov. Det er fortsat vores formål at understøtte kunder og partnere ved at tage aktiv del i deres IT setup samt følge trends i den globale udvikling. Since its establishment, EPICO IT A/S has been focused on our customers' IT consultant needs. It is still our objective to support customers and partners by taking an active part in their IT setup as well as follow trends in the global development. En del af EPICO IT A/S's's aktiviteter er fast rekruttering, hvor EPICO Search hjælper vores kunder med rekruttering af nye medarbejder. Part of EPICO IT A/S's activities is permanent recruitment in which EPICO Search helps our customers with the recruitment of new employees. EPICO IT A/S har datterselskaber i henholdsvis Polen, Sverige samt Norge. EPICO IT A/S has subsidiaries in Poland, Sweden and Norway.Trods udfordringer som COVID-19, kom EPICO IT A/S ind i 2021 med et stærkt momentum, ikke mindst takket være en stærk og motivet organisation. Man er gennem 2021lykkedes at udbygge dette momentum yderligere og er i 2021 lykkedes med at præster den højeste omsætning og indtjening i virksomhedens historie. Ud over vækst i det generelle marked er det også overbevisningen, at EPICO for formået at tage markedsandele i markedet. Despite challenges such as COVID-19, EPICO IT A/S started 2021 with a strong momentum, not least owing to a strong and motivated organisation. Throughout 2021, the company has succeeded in expanding this momentum further and has in 2021 succeeded in presenting the highest turnover and earnings in the history of the company. In addition to growth in the general market, management believes that EPICO has been able to gain market shares in the market. Koncernens resultat for regnskabsåret 1. januar - 31. december 2021 udviser et overskud på 19.128.135 kr. før skat samt 14.443.417 kr. efter skat. The group's profit for the financial year 1 January - 31 December 2021 showed a profit of 19.128.135 dkk before tax and 14.443.417 dkk after tax. Resultatet anses for meget tilfredsstillende set i lyset af COVID-19 pandemien og er bedre end forventningerne fra sidste år. The profit is considered very satisfactory in the light of the COVID-19 pandemic and is better than last year's expectations. Samlet havde koncernen en omsætningsfremgang på 29% In total, the group experienced an increase in turnover of 29%. Omsætning fra DK udgør 83% og udlandet udgør 17% af koncernomsætningen. The turnover from DK constitutes 83% and foreign countries constitute 17% of the consolidated turnover. Omsætning og indtjening på de europæiske markeder, hvor EPICO IT A/S er repræsenteret, er steget, og trenden fortsætter i såvel Sverige samt Polen. Turnover and earnings in the European markets in which EPICO IT A/S is represented have increased and the tendency continues in Sweden as well as in Poland. Koncernens aktiviteter og strategiske position i Sverige er styrket gennem året, og selskabet har oplevet en markant omsætningsvækst på 41% på det Svenske marked. Positionen er ligeledes blevet understøttet af en styrket lokal organisation. The group's activities and strategic position in Sweden have been strengthened throughout the year and the company has experienced a significant increase in turnover of 41% in the Swedish market. The position has also been supported by a strengthened local organisation. 11 Polen havde en omsætnings fremgang på 27% - men har investeret i ny lokation samt ansat en lokal country manager. Driftsresultatet er dog negativt endnu. Poland had an increase in turnover of 27% - but has invested in a new location as well as employed a local country manager. However, the operating profit is still negative.FORVENTNINGER TIL FREMTIDEN The expected development Det er ledelsens forventning, at omsætningen og resultatet for 2022 vil ligge over niveauet fra 2021. It is management's expectation that the turnover and the profit for 2022 will exceed the level from 2021. Omsætningsfremgangen forventes primært realiseret gennem den eksisterende forretning og den geografiske tilstedeværelse, man har i dag, men det forventes også, at 2022 kommer til at byde på etableringer i nye markeder for at understøtte vores kunders fortsatte udvikling. Der vil fortsat være fuld fokus på at styrke kerneforretningen og optimere driften parallelt med, der tages nye strategiske skridt for udvikling af virksomheden. Fokus er også på fortsat udvikling af både det svenske og det polske marked samt udbygning og styrkelse vores danske EPICO Search, NextGen og ikke mindst EPICO IT A/S's nye fokusering mod det offentlige marked - EPICO Public. The increase in turnover is primarily expected realized through the existing business and today’s geographic presence. However, it is also expected that 2022 will see establishments in new markets to support our customers’ continued development. Focus will still be kept on strengthening the core business and optimising the operation at the same time as new strategic steps are taken to develop the company. Continued development of the Swedish as well as the Polish markets will still be in focus as well as expansion and strengthening of our Danish EPICO Search, NextGen and not least EPICO IT A/S's new focus on the public market - EPICO Public. Den påbegyndte investering i styrkelse af organisationen, processer og it-systemer i 2021 vil således fortsætte i hele 2022, hvilket forventes at have en mindre negativ påvirkning på resultatet i 2022. Det vurderes, at disse investeringer vil have en positiv effekt i 2023 og 2024. The initiated investment in the strengthening of the organisation, processes and IT systems in 2021 will continue throughout 2022 which is expected to have a minor negative effect on the profit in 2022. It has been assessed that these investments will have a positive effect in 2023 and 2024. VIDENRESSOURCER Knowledge resources Moderselskabet og koncernens primære ydelse er at levere kvalificerede og kompetente IT- konsulenter. Det kan være eksempelvis projektledere, IT-arkitekter, IT-udviklere og testere. Det er en betingelse for EPICO IT A/S fortsatte vækst, at vi kan fastholde, tiltrække, og udvikle kvalificerede medarbejdere samt fastholde, tiltrække, og udvikle markedets bedste konsulenter på alle de markeder, hvor koncernen opererer. The primary service of the parent company and the group is to deliver qualified and competent IT consultants such as project managers, IT architects, IT developers and testers. It is a requirement for the continued growth of EPICO IT A/S that we can retain, attract and develop qualified employees as well as retain, attract and develop the market's best consultants in all the markets in which the group operates. En god arbejdsplads med gode sociale forhold for medarbejdere er løbende et væsentligt fokusområde. A good place of employment with good social conditions is currently a significant focus area. Der har i årets løb været en stor tilgang af kompetente og erfarne faste medarbejderne, som har styrket koncernen viden- og kompetencemæssigt, og det har været en medvirkende årsag til koncernens vækst. During the year, the company has experienced a large influx of competent and experienced permanent employees who have strengthened the group in terms of knowledge and competences and this has been a contributory cause to the group's growth. 12 SÆRLIGE RISICI Special risk Det er ledelsens vurdering, at der ikke forefindes særlige risici ud over de normalt forekomne forretningsmæssige og markedsmæssige risici for branchen. Det skulle måske lige være eskalering af den forfærdelige krise i Ukraine eller nye COVID-19 relatered Management assesses that no special risks exist aside from the normal business and market risks in the industry. A possible risk is an escalation of the terrible crisis in Ukraine or new COVID-19 related conditions. MILJØFORHOLD Environmental issues Koncernen er miljøbevidst og arbejder løbende på at reducere miljøpåvirkningerne fra virksomhedens drift. The group is environmentally conscious and is continuously working on reducing the environmental impact from the company's operation. SAMFUNDSANSVAR Corporate social responsibility Corporate Social Responsibility er et vigtigt fokusområde i EPICO IT A/S, og det er en integreret del i udviklingen af virksomhedens strategi og ledelsens beslutninger. Corporate Social Responsibility is an important focus area in EPICO IT A/S, and it is an integrated part in the development of the company's strategy and management's decisions. Der er ultimo 2021 etableret en arbejdsgruppe, der skal arbejde med de 17 verdensmål, hvilket kommer til at have en effekt på hele koncernen i tiden fremover. At the end of 2021, a task group has been set up to work with the 17 Sustainable Development Goals which will influence the entire group in the future. Koncernen opererer globalt, hvilket også betyder, at koncernen arbejder i forskellige kulturer, og med klare visioner, politikker og forretningsgange, der beskriver forskellige aspekter af CSR-områderne blandt andet indenfor medarbejder etik og adfærdskodeks, anti-korruption samt arbejdsmiljø og sikkerhed. The group operates globally which also means that the group works in different cultures and with clear visions, policies and procedures which describe various aspects of the CSR areas also within employee ethics and behavioural codex, anti-corruption as well as working environment and safety. 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 er repræsenteret. The group wants to develop its core business and meet its strategic challenges in an economically and socially responsible way. The group's long-term strategy on continued growth will create workplaces and economic activities in the countries in which EPICO IT is represented. EPICO IT ønsker at drive en ansvarlig forretning med respekt for de ansatte, samfundet og miljøet, så vi har en CSR-politik, der er tilgængelig for alle medarbejdere i medarbejderhåndbogen på intranettet. EPICO IT wants to run a responsible business respecting the employees, society and the environment so we have a CSR policy which is available to all employees in the employee handbook on the Intranet. Som et led i den øgede indsats på området har EPICO IT A/S udarbejdet en COP-rapport for 2021. Rapporten beskriver hvilke ansvar EPICO tager indenfor UN Global Compacts 10 principper, som har til henblik at forbedre bæredygtig udvikling og levevilkår. As part of the increased effort in this area, EPICO IT A/S has prepared a COP report for 2021. The report describes the responsibilities of EPICO within the UN Global Compacts 10 principles with a view to improve sustainable development and living conditions. 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 CSR initiativer. With roots in the company's strategy, it is also an integrated part of management's rolls and responsibility to make a current assessment of risks and relevant CSR initiatives. 13 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 karrierer. Ansættelse af nye medarbejdere og valg til ledelsesposter sker udelukkende på baggrund de respektive kandidaters kvalifikationer i forhold til den ledige position. The policy of EPICO IT A/S is to offer both genders equal career opportunities. Employment of new employees and appointments to executive positions are exclusively based on the qualifications of the candidates in question in relation to the available position. Fakta ved udgangen af regnskabsåret 2021 er, at der er flere kvinder i DK Management Gruppen - 75%, og i DK Teamledergruppen er fordelingen 50% af begge køn. Facts at the end of the accounting year 2021 are that there a more women in the DK Management Group - 75% and in the DK Team Leader Group, the distribution is 50% of both genders. MENNESKERETTIGHEDER Human rights EPICO IT A/S koncernen anerkender sit sociale ansvar ikke alene i relation til egne medarbejdere, men også i relation til kunders og leverandørers medarbejdere, og støtter derfor op og respekterer de internationalt anerkendte menneskerettigheder, som formuleret i FN's Menneskerettighedserklæring samt den internationale arbejdsorganisations (ILO) kernekonventioner. The EPICO IT A/S group acknowledges its social responsibility not only in relation to its own employees but also in relation to customers' and suppliers' employees and supports and respects the internationally acknowledged human rights as formulated in the UN's Universal Declaration of Human Rights as well as the International Labour Organization's (ILO) core conventions. 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 begivenheder efter regnskabsårets afslutning. No significant events have occurred after the end of the financial year.Årsregnskabet for EPICO-IT A/S for regnskabsåret 1. januar - 31. december 2021 er aflagt i overensstemmelse med årsregnskabslovens bestemmelser for regnskabsklasse C - mellem virksomheder med enkelte tilvalg fra regnskabsklasse C stor. The Annual Accounts for EPICO-IT A/S for the year 2021 has been prepared in accordance with the regulations in the Danish Financial Statements Act for reporting class C medium with some options from reporting class C large. 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. 15 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>17</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. 18 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 flows from financing activities comprise changes in the size or composition of the Company's share capital and related costs as well as the raising of loans, repayment of interest-bearing debt, and payment of dividends to shareholdersLikvider 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>12.323.439</td><td></td><td>-7.000.000</td><td></td><td>175.587</td><td></td><td>12.210.419</td><td></td><td>17.709.445</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>3.166.255</td><td></td><td>0</td><td></td><td>-209.380</td><td></td><td>2.232.998</td><td></td><td>5.189.873</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>15.989.694</td><td></td><td>-7.000.000</td><td></td><td>-33.793</td><td></td><td>14.443.417</td><td></td><td>23.399.318</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>15.489.694</td><td></td><td>-7.000.000</td><td></td><td>14.409.625</td><td></td><td>22.899.318</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>-289.218</td><td></td><td>0</td><td></td><td>289.218</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>15.700.476</td><td></td><td>-7.000.000</td><td></td><td>14.698.843</td><td></td><td>23.399.318</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.<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>89.270.045</td><td></td><td>69.078.309</td><td></td><td>75.603.379</td><td></td><td>57.437.441</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>4.970.718</td><td></td><td>4.478.589</td><td></td><td>3.071.003</td><td></td><td>2.758.491</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>5.025.556</td><td></td><td>3.780.216</td><td></td><td>745.078</td><td></td><td>513.053</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>99.266.319</td><td></td><td>77.337.114</td><td></td><td>79.419.461</td><td></td><td>60.708.985</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:</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>2.867.931</td><td></td><td>2.593.665</td><td></td><td>2.867.931</td><td></td><td>2.341.243</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>Direktion, pension .........................................................................................................................................................................................</td><td></td><td></td><td></td><td></td><td>117.828</td><td></td><td>186.770</td><td></td><td>117.828</td><td></td><td>182.243</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>2.985.758</td><td></td><td>2.780.435</td><td></td><td>2.985.758</td><td></td><td>2.523.486</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>118</td><td></td><td>99</td><td></td><td>95</td><td></td><td>78</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>124.158</td><td></td><td>40.088</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>368.660</td><td></td><td>362.421</td><td></td><td>340.688</td><td></td><td>522.523</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>368.660</td><td></td><td>362.421</td><td></td><td>464.846</td><td></td><td>562.611</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>370.523</td><td></td><td>562.283</td><td></td><td>262.305</td><td></td><td>364.459</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>370.523</td><td></td><td>562.283</td><td></td><td>262.305</td><td></td><td>364.459</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>4.720.886</td><td></td><td>2.286.290</td><td></td><td>3.781.294</td><td></td><td>1.565.080</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>-36.168</td><td></td><td>-209.523</td><td></td><td>-36.168</td><td></td><td>-205.700</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>4.684.718</td><td></td><td>2.076.767</td><td></td><td>3.745.126</td><td></td><td>1.359.380</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>739.033</td><td></td><td>725.330</td><td></td><td>739.033</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>-13.703</td><td></td><td>0</td><td></td><td>-13.703</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>618.013</td><td></td><td>477.850</td><td></td><td>618.013</td><td></td><td>477.850</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>94.446</td><td></td><td>153.866</td><td></td><td>94.446</td><td></td><td>153.866</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>-13.703</td><td></td><td>0</td><td></td><td>-13.703</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>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 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>12.871</td><td></td><td>107.317</td><td></td><td>12.871</td><td></td><td>107.317</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>416.949</td><td></td><td>297.820</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>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 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>655.205</td><td></td><td>774.333</td><td></td><td>0</td><td></td><td>0</td></tr></table>Book value at the end of the year Koncernens investering i dattervirksomheder anses for at være af strategisk betydning for koncernen. Under hensyntagen til koncernens forventede planer for forøgelse af aktiviteter og stigning i indtjening er den økonomiske levetid for goodwill blevet fastsat til 10 år. The Group's investment in subsidiaries is considered to be of strategic importance to the Group. Taking into account the Group's expected plans for increasing activities and increasing earnings, the economic life of goodwill has been set to 10 years. 28<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>2021</td><td></td><td>2020</td><td></td><td>2021</td><td></td><td>2020</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>1.169.314</td><td></td><td>1.710.349</td><td></td><td>1.027.326</td><td>0</td><td>1.710.349</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>17.731</td><td></td><td>144.668</td><td></td><td>0</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>-683.023</td><td></td><td>0</td><td>0</td><td>-683.023</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>1.187.046</td><td></td><td>1.171.994</td><td></td><td>1.027.326</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>946.510</td><td></td><td>1.249.914</td><td></td><td>902.126</td><td>0</td><td>1.249.914</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>138.248</td><td></td><td>380.456</td><td></td><td>87.471</td><td></td><td>335.235</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>-683.023</td><td></td><td>0</td><td></td><td>-683.023</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>1.084.757</td><td></td><td>947.347</td><td></td><td>989.597</td><td>0</td><td>902.126</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>102.288</td><td></td><td>224.647</td><td></td><td>37.729</td><td>0</td><td>125.200</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>1.685.885</td><td></td><td>2.065.683</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>-25.250</td><td></td><td>-379.798</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>1.685.885</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>5.914.267</td><td></td><td>2.847.081</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>2.024.643</td><td></td><td>1.145.888</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>361.276</td><td></td><td>284.881</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>-33.793</td><td></td><td>262.410</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>1.224.785</td><td></td><td>1.493.135</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>9.372.050</td><td></td><td>5.914.267</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>11.032.685</td><td></td><td>7.600.152</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>11.032.685</td><td></td><td>7.600.152</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>11.032.685</td><td></td><td>7.600.152</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>655.205</td><td></td><td>774.334</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>Ovnership</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>346.146</td><td></td><td>1.521.893</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>3.273.334</td><td></td><td>8.855.587</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>-1.553.872</td><td></td><td>-4.059.621</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>436.612</td><td></td><td>230.912</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>36.168</td><td></td><td>205.700</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>472.780</td><td></td><td>436.612</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>901.911</td><td>0</td><td>0</td><td></td><td>901.911</td><td></td><td>901.911</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 122.608.175 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 122.608.175 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 122.608.175 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 122.608.175 DKK. Parent Company: Selskabet har indgået operationelle leasingforpligtelser. Forpligtelsen udgør pr. 31. december 2021 i alt 2.571.203 kr. The company has entered into operational leases. At december December 31st 2021 the obligation amounts to 2.571.203 DKK. 31 Group Company: Koncernen har indgået operationelle leasingforpligtelser. Forpligtelsen udgør pr. 31. december 2021 i alt 2.571.203 kr. The group has entered into operational leases. At december December 31st 2021 the obligation amounts to 2.571.203 DKK. Parent Company: Selskabet har indgået lejekontrakter. Forpligtigelsen udgør pr. 31. december 2021 i alt 789.451 kr. The company has entered into rent commitments. At december December 31st 2021 the obligation amounts to 789.451 DKK. Group Company: Koncernen har indgået lejekontrakter. Forpligtigelsen udgør pr. 31. december 2021 i alt 789.451 kr. The group has entered into rent commitments. At december December 31st 2021 the obligation amounts to 789.451 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.6184863744740839945145455393955701544740839943903616903802682233731359773955701543238943783189418872956056665209201614078951424314765613388849412422046492658188132139597808417668381178315086057006609668381176617305877889395740451706694475852769661609202145348694450244119292045664289437125240376284342992989585524176000260195601912999977376961608048857466737737696242872027449157610601574667332480131129279520771400190551488233136866036242146484656261137052356228326230536445919128135753783418188543682715546847182076767374512613593801444341754610671444341754677750070000000223299815740515210419389372454610671307920192372657179505467775117093317336025489604012210419223299800144096253379200-6708144434175467775128711073171287110731765520577433300102288224647377291252000011032685760015258517858517858517858517813555421691475116684638417847139218969985698821225575758580086918812325143745123200378033888323715938618720251591296113866285688974262861549447278044043547278043661218441306175647669151255942167162036186119540208130683333981667751633917271212316831423517961065846221212316831203951979609943789337592106584622102659298818016587493662250000050000050000050000000518987331662552289931815489694177094451232343900000-289218233993181570047623399318159896941570047611259508115881351594617815989694112595081158813515946178500000123234393166255015989694500000177094455189873050000015489694-289218015700476500000228993180090191141375219019114137521812611468382481261146838242412448345022412448345011006500717471846285288020640810674892422252146137812941565080253977671863543820831015152929341399924101055312071189524789059492716339172712123168314235179610658462246847182076767351822653450-2521461-1384438-41172198530179236900619118159421268691923924579000000007000000100000000-7000000-100000056869192292457912730264-101943151841718212730264-1863-199863-96599-57962-99760202540198152-10480848870232Heraf 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 anlægsaktiver17731144668107359550027672699001073595500276726990.13440.06400.02240.02960.08520.12920.05490.03520.01440.08540.14320.12950.09350.12060.17850.16440.15000.10970.14170.21280.73880.40510.11450.13970.35860.73340.40130.10250.12590.43520000000175587-2093800-3379300255426025542670000000700000070000000700000000000000000000